Today in Crypto: July, 11, 2018 – Robinhood Adds Bitcoin Cash And Litecoin Trading
Markets continue to trend slightly downwards from yesterday. Bitcoin is currently at $6,347, Ethereum is at $436, and Litecoin is at $78.
Robinhood Adds Bitcoin Cash And Litecoin Trading 
Robinhood announces the expansion of its cryptocurrency offerings, adding bitcoin cash and Litecoin trading. For now, Robinhood Crypto is only available to customers in 17 states. The company said that it plans to expand its cryptocurrency offerings and “add support for coin transfers.” From an adoption and utility perspective, the way that Robinhood describes cryptocurrencies under its “Crypto Education” section suggests that these “digital currencies” remain (speculative) investments rather than currencies. Robinhood is a platform that offers a commission-fee stock trading and is following the lead of cryptocurrency exchanges.
For US financial services companies, there are mainly four cryptocurrencies that are relatively safe to support from a legal perspective. This includes Bitcoin, Litecoin, Ethereum, and Bitcoin Cash. Coinbase has set these standards, allowing Ethereum trading in July 2016, Litecoin trading in May 2017, and bitcoin cash trading in December 2017.
Twitter Meets With Tron (TRX) 
Cryptocurrency Tron (TRX) is in the talks of something very vital with Twitter, as they received a visit from Twitter employees at their head office. Justin Sun, the founder of Tron announced today that Twitter sent some of its officials to Tron’s office. Speculation that Tron will partner Twitter is gathering momentum among the crypto community. Tron has been sealing huge deals in recent time. PornHub announced it has started accepting Tron and Tron is also partnered with Shiftmarket. Tron just recently launched its Mainnet last month. Ten different exchanges have announced the completion of the Tron token swap. There is hope that once trading of TRX begins on these platforms, Tron will uptrend in the crypto market.
Bitcoin To Reach $60,000, Says TenX C-Founder 
Back in December 2017, when Bitcoin was at its all-time high, Julian Hosp, president and co-founder of the cryptocurrency wallet and card start-up TenX, predicted Bitcoin would reach $60,000 this year — and he’s sticking to it. Hosp told CNBC at the RISE tech conference in Hong Kong: “I predicted for 2018, we’re going to see $5,000 and $60,000. So $5,000, we pretty much hit it, so let’s see if we can do the $60,000. I’m still quite confident.” Hosp is aware that a “massive positive event” would have to take place in order to push Bitcoin up to $60,000. One such event could be a bitcoin exchange-traded fund (ETF) — which many believe is the holy grail for cryptocurrencies.
Binance CEO Comments On Vitalik”s “Burn in Hell” 
In an interview with TechCrunch last week, Ethereum’s co-founder, Vitalik Buterin, said “I definitely hope centralized exchanges go burn in hell as much as possible.” Changpeng Zhao, the CEO of Binance – currently the world’s second largest cryptocurrency exchange by means of 24-hour trade volumes – expressed his opinion on Twitter. Zhao pointed out the necessity of seeing the bigger picture. He notes that fiat currency has, in fact, had a huge impact on the development of its decentralized counterpart. He points that if it wasn’t for fiat currency and centralized exchanges, digital coins would have had far less liquidity and that the industry itself would have been a lot smaller.
Zhao pointed out that there is no true decentralization and that if a project has a core team, it still has a sense of centralization. He even called out Buterin himself, saying: “Today, Vitalik probably has more king-like powers than anyone else in the industry, and has used it, by serving as advisors for projects, therefore, helped to decide their fate, at least fate of their ICOs to a large extent.”
New Bills On Cryptocurrency Regulation Expected From South Korea 
South Korean legislators have drafted bills intended to provide a framework for the regulation of cryptocurrency exchanges, initial coin offerings, and blockchain technology. The bills will be submitted during a session that will run from July 13 to 26. A July 19 date is set for a debate on the security of cryptocurrency exchanges in the country, which will be hosted a rep of the LPK and co-hosted by the Korea Internet and Security Agency (KISA).
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