Bitcoin news roundup, May 6, 2017

This week’s summary of various cryptocurrency news and developments:

New developments:

OneCoin lawyers are threatening news outlets and whistleblowers

The OneCoin organization, according to TheMerkle and Bitcoin.com, has threatened to sue media outlets and whistleblowers that point the finger at their operations. This week, two bitcoin proponents – journalist Friedemann Brenneis and bitcoin enthusiast Bjorn Bjercke – came forward with their stories. Friedemann Brenneis said he received letters from OneCoin attorneys claiming they were not happy with articles he had published on his website, Coinspondent. Enthusiast Bjorn Bjercke, on the other hand, was asked to remove articles and YouTube videos in which he exposes the organization’s activities – he exposed that OneCoin was using an SQL database to “store” tokens instead of a blockchain, for examplee. Both were threatened with lawsuits.

Overall, some of the threatened users, according to reports, did remove their content so they wouldn’t have to face OneCoin. Others, however, decided to “lawyer up”, and fight the organization. As TheMerkle puts it, however, OneCoin has a reasonably large amount of funds and may simply use stall tactics to bleed out the defendants.

Digital currency exchange Celery froze all withdrawals, deposits and orders

A New-York based digital currency exchange dubbed Celery, which launched in mid-2014, has recently announced that all withdrawals, deposits and orders are suspended, without giving customers a reason as to why. The statement only tells users to “refer to this page for all further updates”, but so far, the page contains no further information that could help customers. According to CoinDesk, the exchange’s phone number merely plays an audio recording of the same statement. Meanwhile, users have been expressing their concerns on social media:

All withdrawals, deposits and orders are currently suspended. Please refer to this page for all further updates. https://t.co/0T4QbsFQ2s

— Celery (@GoCelery) May 4, 2017

 

Darknet market Alphabay is now accepting Ethereum

The infamous darknet market AlphaBay recently announced that customers can now transact using ethereum. An AlphaBay representative publicly stated that addresses will remain valid for 7 days after the first transaction, and as such sending funds after that period will result in a loss of coins. A 0,01 ETH fee is collected upon withdrawal.

The market also announced that it designed a mixer that allows users to mix their Ethereum, in order to hide its origin, and that it has upgraded its search engine with new functionalities.

Digital currency exchange and wallet Coinbase has integrated litecoin in its platform

Litecoin has recently skyrocketed in value and that, along with a few other factors, helped Coinbase decide to start supporting the currency on its platform – a move that had previously been announced by DeepDotWeb. Users are now able to trade and store bitcoin, ethereum and litecoin on Coinbase. The event, along with a few others, helped litecoin go past the $1 billion market cap. At the time of press, one token is worth $26,24, according to CoinMarketCap.

According to CoinDesk, Coinbase claims this is not the last cryptocurrency to be added to the platform, as the company is planning on supporting other digital assets in the future.

World affairs:

Japan to have over 10 new bitcoin exchanges in the future

According to a Nikkei report, Japan’s cryptocurrency industry should be about to grow as over 10 new exchanges are trying to enter the market by applying for the country’s new license. The license was introduced back in April, and aims to ensure exchanges comply with financial regulations and anti-fraud procedures. Along with the new companies, existing exchanges such as bitFlyer – in which all three of the country’s megabanks are investors – have also applied. Among the applicants, one can also find SBI Holdings’ SBI Virtual Currencies, Kabu.com Securities and Money Partners Group, and GMO Internet.

Antigua and Barbuda’s government is drafting laws to implement bitcoin

According to reports, Antigua and Barbuda’s government is considering the implementation of bitcoin in the country. The Attorney General Steadroy Bejamamin has reportedly been instructed by the Cabinet of Antigua and Barbuda to “draft laws for the implementation of bitcoin”. The move comes after the Cabinet had a meeting and discussion about the benefits of bitcoin in the country with an Antigua Leisure Gaming Association.

The country’s Minister of Trade and Consumer Affairs, EP Chet Greene, said post-Cabinet briefing:

• Here in Antigua Barbuda we know we are always very much front and centre of new developments; we are leaders, trendsetters in the Caribbean. This new currency is immutable; you can always go and trace transactions, so in the context of allegations of our country being involved in tax havens, it allows for better traceability

Financial:

Ethereum’s ether token went over the $100 mark on some exchanges

Ether prices have surged recently, so much so the token went over the $100 mark on a few exchanges this week. Prices are currently averaging $94,36, according to CoinMarketCap. The surge can be justified by the SEC being weighing in on the currency’s ETF, as reported by DeepDotWeb last week, among other factors.

Bitcoin at $1.572,24, after breaking $1.600 on major exchanges this week

This week, bitcoin was trading above $1.600 on some major exchanges, including Coinbase’s GDAX and Japan’s bitFlyer, for example. Currently, a large portion of bitcoin trading is being processed in Japan, a country that saw bitcoin become legal tender last month, and that now faces a huge rise in demand. At the time of press, one bitcoin is worth $1.572.24, according to CoinMarketCap.