Chilean Bank to Reopen Crypto Exchanges Accounts

State Banco Estado, commercial Scotiabank and Itaú should reopen previously closed accounts of  Cryptomkt and Buda exchanges in several days
28 May 2018   989

The Chilean court rejected the appeal of the country's largest banks and confirmed the April decision to reopen the accounts of Cryptomkt and Buda. This is reported by Bitcoin. com.

State Banco Estado, commercial Scotiabank and Itaú should reopen previously closed accounts in several days. According to the publication, Banco Estado has already contacted Cryptomkt for negotiations, and Scotiabank and Itaú may appeal the decision again.

According to the co-founder of Cryptomkt Martin Zofre, when the banks announced the closure of accounts, "in five days they returned 99.8% of funds to Cryptomkt customers, so now they will start from scratch." Nevertheless, the exchange expects to return to the digital currency market in the coming days.

In the beginning of April the Chilean banks Itau Corpbanca, Bank of Nova Scotia and Banco del Estado de Chile without explanations blocked accounts of exchanges Buda, Crypto MKT and Orionx. In connection with this, trading floors were forced to apply to the court.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.