Bitcoin and its peers rebounded Thursday and were trading with gains, amid a broad improvement in market conditions. Overall cryptocurrency market capitalization recovered to above $200 billion. As of 10.50 am ET, cryptocurrency market cap was $203. 42 billion and the Bitcoin dominance rate was 54.7 percent on CoinMarketCap. Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
China's Central Bank Warns Investors of Risks in ICOs, Crypto Trading
China's central bank warned investors of risks in Initial Coin Offerings or ICOs and cryptocurrency investment amid the increased activity by overseas operators. In a public notice, the Shanghai Head Office of People's Bank of China or PBOC urged consumers and investors to increase their risk awareness of ICO variants, and to be away from overseas operators issuing ICOs and virtual currency transactions for domestic residents.
Pharma Firm Verseon to Use Blockchain for Drug Development Funding
U.S.-based Pharma Company Verseon plans to use blockchain technology for drug development funding through tokenization of securities. The technology is developed by its unit, BlockRules Ltd. BlockRules' token platform supports the sale, launch, and trading of financial securities on a public blockchain.
Consortium to Launch Ethereum Blockchain Platform for Commodity Trade Finance
A consortium of fifteen of the world's largest banks, trading companies, an energy major, and an inspection company are set to develop a decentralized Ethereum blockchain-powered commodity trading platform. It is expected to catalyze the world's commodity trade finance network.
Hackers Loot $60 Mln worth Cryptocurrencies in Japan
Japanese cryptocurrency exchange Zaif has lost 5,966 bitcoins worth 6.7 billion yen ($60 million) in a hacking attack, the company operating the exchange said on Thursday. This is the second major hack of cryptocurrency exchange in Japan this year.
As of 10.53 am ET, Bitcoin was up by 1.51 percent at $6,418.67 and Ethereum was higher by 0.72 percent at $211.27 on Coinbase.
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