• Alt coins,  Bitcoin,  Cryptocurrencies,  Ethereum,  Litecoin,  Ripple

    This is not a drill: Cryptocurrencies are crashing

    The dreaded c-word can now be applied to some of the largest cryptocurrencies

    With the major selloff in cryptocurrencies Tuesday, it’s time to call it what it is: a crash. Although prices are still generally higher than where they were only a couple of months ago, five of the six largest cryptocurrencies are down by 40 percent or more from their all-time highs, including the market leader, Bitcoin. Ethereum is off by 24 percent. Tuesday’s declines were attributed to a drop in volume from South Korea and Japan as an internal memo at China’s central bank calling for further crackdowns on cryptocurrencies was reported by Reuters. Currency Price (as of 17:20 UTC on 1/16/18) All-Time High All-Time High Date % Difference Days Bitcoin (BTC)…

  • Bitcoin,  Cryptocurrencies,  Ethereum,  Innovators,  Litecoin,  People,  Ripple

    Let’s see this mighty ‘Goldman Sachs of crypto’

    Mike Novogratz is pouring $400 million worth of his own crypto-assets to start a merchant bank

    A wealthy guy named Mike Novogratz has distinguished himself as a member of his high school wrestling team, as a member of the National Guard, and as a partner at Goldman Sachs. Now the 53-year-old investor has plans to throw major money into starting cryptocurrency-based bank. That specific quote—“the Goldman Sachs of crypto”—comes from “a person familiar with [Novogratz’s] plans,” the leading anonymous source in a recent Bloomberg story on the investor’s cryptocurrency ambitions. Novogratz’s crypto-enabled merchant bank will be called Galaxy Digital Holdings, and will be active in four cryptocurrency arenas—trading, taking principal stakes in initial coin offerings, selling market research, and asset management. And in true 1990s style,…