Bitcoin and its peers were in the red Tuesday morning after a rebound a day earlier. Market sentiment may have been hurt by comments from St. Louis Fed chief that cryptocurrencies cannot challenge the dollar supremacy and the news that Microsoft banned crypto ads on one of its advertising platforms.
Here is wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
Dollar Is Not Threatened By Cryptos, Fed's Bullard
James Bullard, the head of the Federal Reserve Bank of St. Louis, has insisted on dollar's supremacy over emerging cryptocurrencies. In an interview on the sidelines of the Consensus 2018 conference in New York, he expressed confidence that the dollar is not threatened by cryptos.
CME, Crypto Facilities Launch Ethereum Indexes
Futures exchange CME Group has joined with Crypto Facilities Ltd, a cryptocurrency trading platform, to launch two indexes to track Ethereum, the second-largest cryptocurrency as per market capitalization. In a statement, the companies announced the launch of CME CF Ether-Dollar Reference Rate and CME CF Ether-Dollar Real Time Index.
Microsoft To Disallow Cryptocurrency Advertising On Bing Ads
Microsoft has decided to disallow advertising for bitcoin and other cryptocurrency, cryptocurrency related products, and un-regulated binary options on Bing Ads, the advertising arm of its search engine Bing. The ban will be in place from late June or early July.
JPMorgan's Former Blockchain Employees Launch New Start-up Clovyr
JPMorgan Chase's two former blockchain employees have joined hands to launch a new blockchain start-up called Clovyr. Amber Baldet, the former head of J.P. Morgan's blockchain arm, teamed with Patrick Mylund Nielsen, former lead developer of Quorum, a JPMorgan Chase-built blockchain for , for the new initiative. Mylund Nielsen will serve as the concern's chief technologist.
ZCash To Start Trading On Winklevoss Brothers' Gemini Exchange
Winklevoss brothers have announced that they will start accepting Zcash deposits on May 19, and trading on their Gemini exchange on May 22. Zcash, a "privacy coin" with a total market valuation of over $1 billion, is vying with Monero to become the dominant privacy-focused cryptocurrency.
German Online Bank Bitbond Uses Bitcoin To Handle International Loans
German online bank Bitbond has launched a global marketplace lending platform for small business loans, that leverages blockchain to connect creditworthy borrowers with individual and institutional investors. The Bitbond website says, "Borrow and invest without borders". The platform allows users to transfer loans anywhere in the world using bitcoin and other cryptocurrencies.
Crypto Lexicon - Bitcoin Maximalist
A Bitcoin maximalist is someone who does not attach much value to altcoins. They believe Bitcoin is the original and only cryptocurrency and other cryptocurrencies are fake.
As of 10.35 am ET, Bitcoin was down 2.73 percent at $8,533.03 and Ethereum was lower by 3.58 percent at $712.52 on Coinbase.
by Jyotsna V