A pension fund created by statute that handles net investment of $50 billion serving over 500,000 members, The Ontario Municipal Employee Retirement System, is to buy Ethereum by backing a company called Ethereum Capital through its investment arm. Executive managing director said, “We believe in the long-term future of the blockchain as the technology that will be underpinning business and we are optimistic about the technologies associated with it” (Trustnodes).
The 15 percent drop from the weekend high of $11,942.25 signals a continuation of of the series of lower highs on the price chart, suggesting the bear remains in control. However, the quick rebound from $9,637.89 to $10,000adds credence to the argument that the cryptocurrency could form a base around $10,000 (Coindesk).
Everything You Need to Know About Tether, the Cryptocurrency That People Worry Could Crash Bitcoin and That Regulators Are Investigating
Though the company behind Tether denies the allegations, rumors have been circulating that Tether (the cryptocurrency pegged to the dollar) doesn’t have the reserves to back it up. If the rumors are true, there is a fear that Bitcoin and crypto exchanges could tank due to the role that Tether plays in the market (Business Insider).
In partnership with unidentified Chinese mining company, Samsung has started mass producing Bitcoin mining chips called application-specific integrated circuits (ASICs) this month (Coindesk).
The rising interest and price in Bitcoin and other cryptocurrencies have allowed the opportunity for scammers to maliciously defraud those who want to invest in crypto. To avoid having a link to potential scams, Facebook has banned ads for Bitcoin or any other cryptocurrency (The Independent).
Cofounder of DataTrek Research says that as interest fades in Bitcoin, other cryptocurrencies like Ethereum and Ripple gain traction (CNBC).
This writer writes about his own experience investing, in addition to the Bitcoin craze he has experienced (The Cap Times).
For the Crypto newbies out there (Market Watch).