Top cryptocoins fall

What stands behind fall of top cryptocurrencies? Let's try to figure out
18 October 2017   1277

According to a CoinMarketCap, all top ten cryptocurrencies (except NEO) showing big price drop.

Top ten cryptocurrencies price chart
Top ten cryptocurrencies price chart

As you can see on the chart above, Bitcoin lost more than 7%, Ethereum - more than 8%, Ripple - more than 13%, Litecoin - more than 10%

As always on the cryptocurrency market, there can be billions of reasons to any price change. But some analytics connects this price drop with The 19th National Congress of the Chinese Communist Party (CCP). Despite the recent exchange and ICO ban, China is still big cryptomarket. 

The first news from Beijing, however, concerns this sphere so far only indirectly. As reported by CNBC, in China, a popular messenger WhatsApp was blocked. Also, there are failures in the work of other social platforms, including WeChat. WeChat is especially popular among Chinese crypto investors.

In the meantime, the TASS agency reports that in the next five years the Chinese leadership will intensify the work on creating a "clean and bright" global network space and, in the end, will provide comprehensive control over it. Such a statement at the opening of the congress was made by Chairman of the People's Republic of China Xi Jinping.

According to him, special attention will be paid to delineating the areas of responsibility of the competent authorities for the appearance on the Internet of one or another informant.

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   121

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission