Home Technology - Blockchain Bitcoin News Summary – June 25, 2018

Bitcoin News Summary – June 25, 2018

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Here’s what happened this week in in 99 seconds.

- swatch - Bitcoin News Summary – June 25, 2018

 

Some market watchers blamed the bearish price action on news that Japan’s largest exchange, BitFlyer, was ordered to suspend new account registrations. Japan’s Financial Services Agency, which oversees crypto exchanges, has demanded that BitFlyer improve their KYC / AML processes.

Those who lost bitcoins in the Mt. Gox failure will receive a partial settlement of $450 per coin. This sum will be paid out mid- in BTC, rather than fiat. This means that the Mt. Gox Trustee will no longer be dumping large volumes of BTC on the market.

The South Korean exchange Bithumb was hacked and $31 million were stolen. It seems that the exchange’s Ripple wallet was targeted. Bithumb stated that affected clients will be compensated from the exchange’s reserves. The exchange also made assurances about the safety of user funds.

Tether announced that an inspection of their US Dollar bank holdings by a law has proven that full Dollar backing exists for all issued Tether coins. As of the 1st of June, Tether’s fiat holdings exceeded the number of Tethers. Although short of a full audit, this report should dispel some of the doubt surrounding Tether’s financial situation.

The central European nation of Slovenia is opening a so-called “Bitcoin City” in its capital, Ljubljana. The region will house over 450 cryptocurrency-accepting shops and span 0,000 square meters. Facilities will include bars, restaurants, a waterpark, cinemas and swimming pools.

That’s what happened this week in Bitcoin. See you next week.

 





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