Home / Ripple / Binance Lists XRP, GMO Abandons Crypto Mining: the best of the week

Binance Lists XRP, GMO Abandons Crypto Mining: the best of the week

Bitmain fires the entire BCH client development team

Reports have emerged at the beginning of this week Bitmain, a Beijing mining giant Bitcoin fired the entire Copernicus team, according to a tweet from Samson Mow, Blockstream's Chief Strategy Officer and former BTCC Chief Operations Officer.

The team was working on the development of the Bitcoin Cash client. As we reported at the time, reports were among the rumors that Bitcoin's mining hardware giant was already planning to lay off 50% of its employees.

Only a few days later, Bitmain confirmed that he was reducing staff, however, a spokesman for Bitmain denied that the company would have fired this large percentage of its workforce, but refused to specify the exact number of planned job cuts, such as Finance magnates reported.

XRP increases by 18% as Binance Use as base currency

On Monday, XRP increased in value after Binance, the largest cryptocurrency exchange in the world by commercial value, added cryptocurrency as a base currency, which means that all other cryptocurrencies would be matched to it.

Such as Finance magnates reported At the time, Ripple's XRP enjoyed a 24-hour surge of 18%. This was a complete change from the token performance the previous day when the value of the cryptocurrency was almost unchanged.

The central bank of Russia eliminates the local FX industry

This week the central bank of Russia has stripped several brokerage firms for their licenses in Russia. The brokers in question were Alpari, TeleTrade, TrustForex, InstaForex and Forex Club.

This move, which marks the end of market competition on the regulated foreign exchange market (forex) in Russia, came just a couple of days after the central bank granted a new license to Alfa Forex. You can read more on the go Here.

The OGM leaves the cryptocurrency infrastructure, expects huge losses

GMO Internet, an IT giant in Japan, is one of the last companies to close their operations in the cryptocurrency sector. The news, which was reported for the first time by Cointelegraph Japan, was based on a regulatory deposit.

"After taking into account the changes in the current business environment, the Company expects it to be difficult to recover the accounting values ​​of the company activities related to internal mining activities and, therefore, it was decided to record an extraordinary loss", the conditions of the deposit.

In particular, GMO expects its cryptocurrency mining to post an extraordinary loss of 35.5 billion yen ($ 318 million). To learn more, read our full article Here.

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The former owner and CEO of UTrade is indicted

On Wednesday, the district attorney in Tel Aviv (Taxation and Economy) issued an indictment against two UTrade members, including the former owner and CEO of the Israeli algal trading broker, Aviv Talmor.

According to a report by the Israeli daily calcalist, Talmor is accused of serious fraud, money laundering, obstruction of justice and illicit management of the investment portfolio.

The prosecutor has also indicted his alleged co-conspirator Roey Cozin, who was the former chief analyst of the company. Such as Finance magnates reported, will face charges of serious fraud.

Why did Gate.io broadcast an ICO?

This week, the finance moguls spoke with Virgilio Lizardo, Vice President of International Affairs of Gate Technologies, the parent company of Gate.io, on the attempt of the exchange to rise to the top.

During the interview, Lizardo revealed why the company did not release an initial offer of coins and because he himself entered the cryptographic space. You can read the full interview Here.

Analysis: which cryptocurrency got the most in December?

With 2018 almost at the end, Finance magnates he took the opportunity to look at how the cryptocurrency trade has evolved during the month of December. Some of the key suggestions include the Korean Bithumb who eliminated the BitMEX crown in terms of volume classification.

BitMEX, a registered stock exchange in the Seychelles, had been the largest single site by volume. As reported, the difference between BitMEX and its competitors in the ranking has changed over the years, sometimes reaching 100%.

During the first half of the month, trading volume on Bithumb exceeded BitMEX on December 11th and between December 10th and 16th, Bithumb preceded BitMEX five times out of seven.

To find out why Bithumb has managed to overcome BitMEX and more, you can read the full analysis Here.

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