Binance Hack, Bitcoin Crash, Google Cracks Down: Best of the Week

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term crash and reasons behind it

Last week, giant exchange Binance was the victim of a massive, well-organised hack. At the same time, the price of Bitcoin dropped by 10 percent - but the Binance hack isn't the only thing happening in the market.

We examined the reasons behind the drastic price movement.

Exchange vs Hong Kong regulator

Lawyers of Multibank Exchange Group forced the Securities and Futures Commission to cancel an alert that it issued against the firm in February.

Gerard McCoy, senior council of Multibank Exchange Group, told Finance Magnates that he had never seen the SFC capitulate on such a matter in his 35 years of practice.

Mt. Gox erupts one more

Nobuaki Kobayashi, the bankruptcy trustee for Mt Gox, sold 18,000 BTC on February 5th, causing Bitcoin to crash to a three-month low of below $6,000.

The community is annoyed, and as Kobayashi is still responsible for approximately $1.9 billion in digital assets, worried too.

Google vs cryptocurrency

Google claims to not have any official policy against cryptocurrency advertising, but reports are coming in suggesting that the reality is different.

Cryptocurrency-related adverts are being given only 'limited' approval, and some accounts have been blocked. Google denies everything.

Financial Conduct Authority changes licence requirements

The UK's financial regulator has distributed a letter to a number of UK-based brokers to inform them that it is considering forcing straight-through processing brokers to upgrade their licenses to those of full Market Makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term.

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This is necessary to ensure that the companies manage to cover negative balances resulting from prospective client losses due to unexpected market moves.

The cost of one bitcoin

New research has revealed how much an individual would have to pay to gain one Bitcoin, according to what country he lives in.

Click here to see the information displayed graphically, including a breakdown of where the activity is still profitable.

Interview with eToro

We spoke to the UK managing director of eToro, Iqbal Gandham, to discuss how copy trading can help beginners enter the world of cryptocurrency trading.