Written by Andrea Finch

Head of Marketing
May 31 2019

Crypto and Blockchain News Breaking This Week

News-makers for this week include the SEC and Facebook

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Here are some notable news snippets from the week ending on May 31:

 

Bitcoin crosses $9,000

Bitcoin hit a new 12-month high on Thursday, May 30 when it reached $9,097. It was short-lived, of course, as it quickly dropped to $8,600. Could this bearish candle lead to a rally in June?  

 

Coinbase adds EOS support for retail customers

Coinbase announced in a blog post on May 30 that it now provides EOS support at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store EOS. However, it's unavailable for United Kingdom residents and residents of the state of New York.

This announcement comes just ahead of highly anticipated announcement expected from EOS on June 1.

 

Binance Coin (BNB) is officially 2019's most profitable cryptocurrency

On May 26, BNB established its year-to-date high when it reached $38.646. Its profits are now hovering around 550% for the year and over 100% in May alone. CCN offers an explanation of BNB's success and a short TA here.

 

SEC hosts inaugural FinHub Forum

The SEC created the Strategic Hub for Innovation and Financial Technology (FinHub) with the purpose of facilitating a way for innovators, developers, and entrepreneurs to have an open dialogue with U.S. regulators. 

William Hinman, Director, Division of Corporation Finance stated that the SEC may issue No-Action Letters for ICOs/projects whose tokens are now compliant, even if the original sales didn't necessarily comply with securities regulations.

 

Speculation on Facebook's digital coin

Facebook has yet to officially announce anything, but rumors are swirling about Facebook's venture into blockchain. Internally dubbed as GlobalCoin (or "Project Libra"?!), BBC reports that the coin is planned for release in Q1 of 2020 and that Facebook will seek discounts from online retailers for customers who use GlobalCoin.

Topics: Blockchain, Bitcoin, Cryptocurrency, News, SEC, Facebook, Binance