Coincheck to Lost $5M in Q3

Thus, since the acquisition of Coincheck by the Monex Group, the total loss of the trading platform reached $ 7.5 million
29 October 2018   718

Coincheck, which lost more than $ 500 million due to the January hack, reported an increase in losses in the third quarter of 2018. This is reported in the financial report of the Japanese online broker Monex Group, the parent company of crypto-exchange.

The document says that the cryptoactive assets segment presented by Coincheck brought Monex Group revenue of 315 million yen (about $ 2.8 million) from July to September. This is 66% less than in the previous quarter, which resulted in Coincheck's revenue of $ 8.4 million.

According to the company, despite the fact that over the past three months, the costs in the cryptosegment have been somewhat reduced, the consequences of the hacker attack continue to be felt. Thus, for the period from July to September, the company's loss amounted to $ 5.25 million. At the same time, in the previous quarter, this figure was $ 2.3 million.

Thus, since the acquisition of Coincheck by the online broker Monex Group, the total loss of the trading platform reached $ 7.5 million.

According to the Coinmarketcap analytical service, the daily trading volume at Coincheck is $ 4.8 million. At the same time, only one trading pair is represented on the trading floor - BTC / JPY.

Representatives of the Monex Group said that Coincheck is currently working to ensure more comprehensive and effective internal controls and security measures. This is necessary to obtain a license from the financial regulator.

The report also states that the total user base of the Monex Group is 1.7 million people. The company has 1025 employees, 15% of which are involved in the cryptocurrency segment.

Earlier, the head of the Monex Group, Oka Matsumoto, expressed the opinion that cryptocurrencies can “take off” as derivatives in the 1980s.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   83

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.