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China’s National Internet Finance Association To Increase Oversight of Cryptocurrency and ICOs in 2018
China’s National Internet Finance Association (NIFA), which is supported by China’s banking and securities sectors, is promising to increase its oversight over cryptocurrency and ICOs in 2018. According to CoinDesk, this announcement follows multiple warnings from NIFA about ICOs throughout late-2017.
LoopX Disappears with USD 4.5 Million of Investors’ Money, ICO Rating Services Remove Reviews
LoopX, a proposed platform that promised to earn backers’ money with its proprietary trading algorithm, has disappeared with USD 4.5 million of its investors’ money. Loopx has deleted its website, along with its Facebook, Twitter, YouTube, and Telegram accounts. According to The Next Web, the only remnants of LoopX are on BitcoinTalk, and some ICO rating services, like ICOBench and TokenDesk. However, it appears some of the ICO rating services have since removed their ratings of LoopX.
AlphaBit Buys “Substantial Number” of BitCar Tokens
According to the Coin Journal, BitCar has announced AlphaBit purchased a “substantial number of BitCar tokens.” BitCar is conducting an ICO to fund the development of its blockchain platform, which aims to peg cryptocurrency to rare and exotic cards. The company has already raised USD 6.1 million. AlphaBit is an open-ended, hybrid mutual and hedge fund, which raised USD 300 million in 2017 to invest in digital currency assets.
Millennium Blockchain Invests USD 5 Million in BurstIQ
According to Healthcare IT News, Millennium Blockchain has invested USD 5 million in BurstIQ, a blockchain-based healthcare data management system and marketplace. The investment is a part of BurstIQ’s USD 20 million private placement offering, which began at the 2018 World Economic Forum in Davos, Switzerland in late-January. Burst IQ will complete its offering by March 31, 2018.