Breaking Crypto News: Market Mayhem, New Collabs, More
The Bitcoin trading platform Paxful has gained a positive spot in headlines due to their #BuiltWithBitcoin initiative that began last year. Recent reports claim the platform kickstarted the project with a generous $20K and has now offered $50K to help construct a Rwanda based Nursery facility, as the second school sponsored in the continent.
Paxful also stated a guarantee to match all crowdfunded donations in order to help hit the target cost of $100K to complete the school. The campaign accepts donations in a variety of cryptocurrencies including BTC, LTC, ETC, as well as Dash.
Altcoin Experiences Panic
Tuesdays reports regarding Altcoin’s growing panic across the market remains a hot topic among the crypto community. As currencies such as BNB, Iota, among others attempt to bounce back from an average of 20% losses over the course of twenty-four hours.
With the market in bad shape, statistics show a total value dropping to only $194B dollars. BTC also displayed a dominance approaching only 53%.
High Times Magazine Officially Drops Crypto
The High Times, a cannabis centered magazine gaining popularity, has reportedly denied the acceptance of digital currencies in its IPO as of Wednesday. According to recent reports, the Magazine previously made a mistake with their previous statements regarding the topic of cryptocurrency and labeled the miscommunication an error in distribution.
Speculations regarding the sudden crypto back out believe the company may believe the move to be too risky considering current bear market and overall risk factor.
Binance Announce Liechtenstein Based Exchange offering Fiat Conversions
Friday reports announce that leading cryptocurrency exchange, Binance, plans to offer a solution for fiat and crypto exchange and trading based in Liechtenstein. Collaborations with LCX have furthered the plan to create a team to manage and run the Liechtenstein head office. The newly launched platform will support the trading of Swiss Francs as well as Euros with other top digital currencies.
The company also promises more trading pairs to come. According to Liechtenstein PM, Hasler, this new crypto based initiative is welcomed and he remains confident the region will offer a supportive foundation for both the exchange as well as other platforms in the future.
Beauty with Bitcoin
A great win for Bitcoin with Saturday reportings of beauty collective, R+Co, accepting BCH and BTC payment methods. Renowned stylists and founders of the company, Mclaren, Priano, and Garren have shown a positive affiliation with the currency according to The Cut magazine.
Company president, Dan Langer confirmed this positive outlook by stating that blockchain technology will play a major role in the future of the cosmetic industry. As a plan to get ahead of the trend the company decided to integrate this movement into the very core of their business model and learn more as the technology evolves with them.
UK Official Break Down on Digital Currency Owners
Breaking news this week covers UK banks targeting digital currency holders. Those who decided to trade out large quantities of the currency had assets frozen as well as bank accounts locked with no prior warning.
Financial entities have stated this reaction was held In an attempt to deter illegal activity, money laundering, and the growing distrust in currencies such as bitcoin. There have been claims of home raiding, personal devices seized, and other ongoing investigations held by local police officials.