Today in the crypto markets includes news of Yobit scams, the SEC opening an ICO clarification division, further institutional/mainstream interest, and a massive government Bitcoin auction. Read the details on todays action.
YoBit.net Scammers And Incompetence
Recent events expose Yobit as showing less than desirable behavior. Yobit now actively promotes artificial crypto price spikes on its platform, leading to potential customer losses. Yobit also has many coin/token wallets that do not allow withdrawal or deposit.
If that wasn’t enough, recent news continues about scammers impersonating Yobit staff on social media. These scammers misuse trust hoping to take victims’ money. These scammers often claim online, the ability to help solve customers problems very quickly, in return for payment.
The SEC Is Setting Up A New Office To Talk To ICO Startups
The Securities and Exchange Commision (SEC) frequently makes news headlines for its strictness regarding the crypto space. Today it was revealed that SEC will open a branch specifically to help those looking to conduct an Initial Coin Offering (ICO). The Strategic Hub for Innovation and Financial Technology (FinHub) is the name for this SEC division.
It is currently unclear what’s in line with regulation in the crypto space and what is not. This SEC movement appears to be a positive direction to help ICO’s work in line with regulation.
US Marshals To Auction $4.3 Million In Bitcoin Next Month
The government will sell nearly 660 bitcoin at an auction starting on November 5th. The mentioned bitcoin are the result of various government confiscations for crime.
The Bitcoin will be sold in 6 sets of 100 and one set of 60. “Bidders will not be able to view other bids or change their bid once submitted, the U.S. Marshals added” reports CoinDesk. Earlier this year, government authorities also sold roughly 5,700 Bitcoin.
Goldman Sachs And Galaxy Digital’s Mike Novogratz Invest $15 Million In Crypto Custody Firm
Goldman Sachs is an enormous entity in the world of traditional finance. Recent news shows Goldman, as well as notable Galaxy Digital CEO Mike Novogratz, dropping close to $15 million on an investment into BitGo. BitGo provides custody services for crypto investments – meaning help customers hold their investments in a secure place.
Investing in crypto is contrary to Goldman’s criticisms of Bitcoin earlier this year. This news also shows continued mainstream interest in the crypto space, potentially signaling positivity in price for the coming days.
Ticketmaster To Enhance Ticketing System With Blockchain In New Partnership
News today shows further mainstream application for blockchain and big companies. Ticketmaster, a Worldwide ticket sales company, recently partnered with a firm called Upgraded. Upgraded uses blockchain to benefit the ticket sales industry, allowing tickets to be transferred to friends or family via smartphones.
Ticketmaster “plans to use blockchain technology through the partnership as a way to provide more transparency and better control ticket distribution” as reported by CoinTelegraph.
Ticketmaster is part of a growing list of mainstream businesses looking to benefit from blockchain. Microsoft is another recent mainstream entity which recently announced its interest in blockchain.