While there are many cryptocurrencies available today for use and for investment, I believe that there are five that fall into a class of their own, based on market cap, increases in value in recent years, mass-market acceptance, and other factors. Please note that this list, as well as my list of new, lesser-known cryptocurrencies to check out, is subjective – it represents my opinion, and is not the result of any formal calculations or studies.
Securities regulators seek Google ad ban on cryptocurrencies, initial coin offerings – The Globe and Mail
Another blow for the crypto-traders: A sizable number of banks are not allowing their customers to use their credit cards to buy cryptocurrencies. This had been triggered over the weekend when U.S. banks Bank Of America, Citigroup, JP Morgan, Capital One and Discover banned their customers from purchasing cryptocurrencies. But take this declaration with a pinch of salt. Could there be something bigger coming? We know that JP Morgan, Berkshire Hathaway and Amazon teamed up to form an independent health care company. Nothing can be factored out, but let’s stay with the subject on hand.
Over the past few months, the Blockchain ecosystem has grown tremendously. Not only have cryptocurrencies continued to rise in value, with Bitcoin nearing $19,000 on December 16; but a number of emerging startups have entered the blockchain battlefield. Though many of these fledgling projects seem poised to have a foundational impact on our global economy, it can be difficult to filter out the needles from the growing haystack.
Social media giant will no longer allow ad platform to be used to promote “financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.” On Tuesday, Jan. 30, social media giant Facebook announced in a blog post that it would be banning all advertising related to cryptocurrencies.
Tether, a cryptocurrency that claims to be backed by hard cash, is in the spotlight after reports that the Commodity Futures Trading Commission last month subpoenaed documents from the digital-asset platform. Tether and its sister company Bitfinex have been raising eyebrows within the digital-currency community, as critics question the accuracy behind assertions that every tether is supported by actual bank reserves.
After gaining some recognition on Wall Street, cryptocurrencies have attracted the interest of asset rating agencies. Last week, Florida-based Weiss Ratings released a report that assigned grades to dozens of cryptocurrencies based on a number of metrics, like risk, technological innovation, and other fundamentals. There were a couple of surprises to the report. One of them was that none of the cryptocurrencies rated received an “A.” Another surprise was that Ethereum received a higher grade than Bitcoin and Ripple.
The report, named Blockchain: Market shares, strategies and forecasts, worldwide 2018-2024, argues that with the digital economy becoming increasingly integral to the future of firms across all industries, blockchain is likely to continue its strong growth throughout the next few years as a key emerging technology.