Cryptocurrencies are trending lower Tuesday morning and the leading cryptocurrency Bitcoin has returned below $6,500.

Overall cryptocurrency market capitalization shrunk nearly $20 billion over the past 24 hours and was $254.35 billion around 9.48 am ET.

Market sentiment was hurt after a popular crypto wallet for Ether called MyEtherWallet warned users that the Hola chrome extension has been hacked, compromising user activity data.

Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

Winklevoss' Crypto Exchange Gemini Appoints Ex-NYSE CIO As First CTO

Gemini, the cryptocurrency exchange owned by Internet entrepreneur twins Cameron and Tyler Winklevoss, has appointed former NYSE Chief Information Officer Robert Cornish as the company's first-ever Chief Technology Officer. Cornish will be assigned the task of bridging the gap between cryptocurrency and finance as part of Gemini's larger mission to "build the future of money." Read more...

FedEx, Pharmacy Plan Blockchain Platform To Distribute Unused Cancer Medicines

The FedEx Institute of Technology has partnered with pharmacy services company Good Shepherd Pharmacy to create a new blockchain-based platform for quicker distribution of cancer medicines. Both organizations are developing a blockchain platform, called REMEDI, to retrieve unused medications from cancer patients and pass them on to economically disadvantaged patients. Read more...

Indian Crypto Exchange Coindelta Launches Peer-to-peer Exchange Platform

Indian cryptocurrency exchange Coindelta has launched a peer-to-peer (P2P) exchange platform like several other crypto exchanges in India in its bid to bypass the Reserve Bank of India's ban on providing banking services to firms or individuals dealing in cryptocurrencies. The RBI ban came into effect from July 5. Read more...

Six More Telecom Firms Join The Carrier Blockchain Study Group

Six more international telecom companies have joined the Carrier Blockchain Study Group (CBSG), the global blockchain consortium of telecom carriers. The group of telecom carriers was set up in September 2017 to jointly explore building an innovative next-generation global cross-carrier blockchain platform and ecosystem to better serve consumers. Read more...

Australian Tax Agency to Target Crypto Traders Hiding Profits Offshore

The Australian Tax Office or ATO said it will track down citizens hiding their profit from cryptocurrency trading offshore, Australian Financial Review reported. The tax authority is expected to use a 100-point identification check system with advanced data-matching techniques to track Australian crypto investors trading on offshore exchanges. Read more...

Current Prices

As of 9.52 am ET, Bitcoin was down 5.14 percent at $6,383.55 and Ethereum was lower by 8.86 percent at $438.96 on Coinbase.

by Jyotsna V

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Image Credit: P2P Media