Cryptocurrency Market Report June 20

Bitcoin falls again

At the time of writing, Bitcoin is down around 1.5% and costs $ 6630. The case is likely as a result of the news that Bithumb has been hacked. We will come back to it further down in the article.

The total market value of the entire market is around $ 283 billion, down $ 5 billion from yesterday.

Bithumb hacked

Yesterday we reported a Twitter account claiming that Bithumb had been hacked. Tonight came the confirmation that cryptocurrency worth $ 30 million has been sacked in a hacker attack.

Bithumb is the world’s 6th largest stock exchange and is South Korea’s leading crypto exchange. The company behind the stock exchange says that all the funds will be refunded to the affected parties.

The attack should allegedly have occurred as a result of the stock exchange being aware of a weakness in the system and making an update. During the update, the hackers should have access to Ethereum and Ripple valued at $ 30 million.

Source: Cointelegraph

John McAfee is threatened by the SEC

The founder of the McAfee virus program and the crypto enthusiast John McAfee are known for being ICOs and cryptos via their social media channels. In April, it became known that he takes $ 105,000 per tweet to promote crypto projects and products.

Yesterday McAfee wrote on his personal Twitter account that he no longer wants to cooperate with or promote ICOs resulting from SEC’s “threats”. The SEC, on its part, does not choose to comment on the matter.

In Christmas, McAfee released “coin of the day” on Twitter and contributed to an extreme price increase, which was obviously followed by the dumping of the price.

Source: Cointelegraph

CBOE president: ICO’s are facing a regulatory settlement

The president of CBOE Global Markets, Chris Concannon, claims that ICOs go against a regulatory settlement and that the companies behind will be hit by two waves.

In wave one, the SEC will classify ICOs as securities. This will cause investors’ assets to be considered worthless. This will lead to wave two, which will consist of mass action against the companies behind the ICOs.

Canconnon says that ICO investors should stay awake at night and worry about the uncertainty in the ICO market. Furthermore, he explains that if someone has sold an unregistered token, they have sold an unregistered security and, in the eyes of the law, the company will then be regarded as an unregistered issuer. If this is a fact, an investor may hold the issuer responsible and go to court.

Source: Cointelegraph

Paris will be the capital of the ICO

France is the first country in Europe to host an accelerator program for blockchain projects.

Chain Accelerator, a collaboration between 30 crypto and financial companies, offers advice for international blockchain startups.

On the list of participants, we find, among others, the CEO of Gatecoin, Aurelien Menant, and HSBC’s Digital Innovation Director, Diane Biggs. In addition, and perhaps surprisingly, former CEO of SWIFT, Leonard Schrank, also attends.

Franke authorities have recently had a friendly attitude towards the sector and the finance minister in the country has said that they can not miss this revolution. The Chain Accelerator wants to position itself as a key player and has great opportunities because the authorities in the country want to make Paris the ICO’s capital.

Source: Cointelegraph