Today on Bitcoin This week we discuss the decision of Bithumb to suspend the creation of new accounts, commenting on the TV that will be encrypted while you watch and much more.
Bithumb suspends new accounts
Bithumb, the South Korean exchange at the center of a $ 31 million transaction in June, has suspended new accounts because its banking partner NH Nonghyup Bank has renewed the contract. Bithumb had stated in a blog post that the suspension of new accounts was due to "service improvement processes".
The suspension saw its trading volume fall by almost 40% over a period of three days, according to data collected by CoinMarketCap. Bithumb, which is the 12th largest global exchange in terms of volume, recorded an average volume of 24 hours trading of $ 200 million over a period of three days after the suspension, down from $ 350 million pre-suspension . With South Korea, which is studying new and robust laws to benefit the cryptocurrency industry, there may be hard times for Korean trade in general, following a series of high-profile hacks from the start of 2018 .
Crypto TV will keep me while you watch!
Couch potatoes will be happy to find out that they will soon be able to make money without having to do anything but watch TV. According to reports this week, Canaan, the second largest Bitcoin mining company in the world, intends to launch a bitcoin mining television set.
AvalonMiner Inside as the TV will be known, has a signal processing power of 2.8 trillion hashes per second. This is about a quarter of the number of hashes that can be processed using Canaan's most powerful mining kit. And that's not all. The company plans a range of Bitcoin appliances to make those tedious household chores easier to bear. Canaan may have had the idea after watching television reports of the huge profits published by its competitor Bitmain, which has recently been valued at as much as $ 12 billion as part of its pre-IPO.
Okex Claws back $ 9M from investors
Okex will have to recover at least $ 9 million from investors following the spectacular bankruptcy of a colossal bet on Bitcoin Futures by an individual investor. The investor had taken a long position on over 4 million Bitcoin contracts, each valued at $ 100, and refused Okex's request to partially or partially terminate positions to "reduce the overall risk of the market".
The user's account has now been frozen and will be liquidated. However, even when the insurance coverage and the recent decline in value of Bitcoin are taken into account, there remains a deficit of around $ 9 million, the responsibility of which will be shared among Okex investors. The platform has moved to increase insurance deposits and injected 2500 BTC from its pool to partially mitigate the loss for investors and has made changes to the way it determines the price formula of the brand in the hope of preventing losses of this type in the future  "Crypto Netflix" listed in London Stock Exchange
Argo became the first cryptocurrency company to be listed on the London Stock Exchange. The company has amassed $ 6 million more than the $ 26 million it hoped to increase in its IPO. Executive Chairman Jonathan Bixby said he was "delighted by the strong investor response".
Argo, which is based in the United Kingdom but uses mining facilities in Canada, offers a crypto-mining subscription package, designed to make mining accessible to investors by offering a service without an anticipated prohibitive outlay. As a result, the company was dubbed "Netflix for crypto" by the British press. All of his subscriptions are currently sold out.
Bitcoin returns to under $ 7,000
At the end of a bruise week for Bitcoin, there is still no disappointment in the long decline of the fortune of the crypt. Having passed the $ 8000 mark at the start of the week, Bitcoin opened on Thursday at $ 7634 and fell slightly to close at $ 7567. Friday continued to fall, touching a low of $ 7328 before closing at $ 7434. Saturday was worse, with a sharp decline of $ 500 in a period of a few hours bringing the crypt under $ 7,000 for the first time since July 17. To see the current prices click here.