Copper’s Weekly Update – 27 April 2020

Highlighting what went right, and what went wrong, in this week’s crypto news analysis.

Copper

Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

Lots to catch up on in a week that saw so much analysis on Facebook’s second iteration of Libra, you could be forgiven for not reading every article.

Binance also had a busy week, notably for their smart contracts release speculatively out to get Ethereum, while launching apps to take over payments in Africa, and let’s not forget the CMC acquisition.

There have been some new exciting features added to the Copper Platform and Copper Unlimited over the last week as well: Clients can now choose what level of blockchain fee to apply to withdrawals; we’ve introduced an optional feature that restricts whitelisted addresses if the account AUM falls below a certain point; and an option to hide wallets with a zero balance. There are two new reporting features, and support has been added for EOS and XDC tokens. Finally, this is a reminder to all our existing clients that wallets will now be upgraded to multi-party computation. You can read more about our move MPC here. To say our developers have been busy would be an understatement!

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

DForce hacker returns $25m in ‘stolen’ crypto-currencies

  • The attack on the Chinese DeFi platform, DForce, took a surprising turn as the hacker returned the funds two days later. According to data visible on the Ethereum blockchain, the transactions included some extremely large amounts
  • Prior to the attack, DForce was ranked among the top 10 DeFi projects. It recently raised $1.5 million in a seed round, gaining funds from Multicoin Capital, Huobi Capital and CMB International

Read More

SEC Sues Dropil Founders for Fraud After $1.8M Token Sale

  • The US Securities and Exchange (SEC) Commission has filed suit against against Dropil and its founders in a federal California court for allegedly hosting a fraudulent initial coin offering (ICO). Dropil’s founders said they raised $54 million from 34,000 global investors, while the complaint alleges they actually raised only a fraction of that: $1.8 million from 2,472 investors
  • Last year, the Commission ordered Blockchain Company to pay a penalty of $24 million for conducting unregistered ICO

Read More

Almost 2% of the world’s Bitcoin supply is run by Grayscale

  • Reports from the past week indicate unmistakable signals that institutional investors are taking advantage of the coronavirus-triggered market turbulence to increase their exposure to cryptocurrencies
  • Grayscale, the world’s largest bitcoin investment trust, last week published its Q1 Digital Asset Investment Report. According to the asset manager, even with the cryptocurrency markets free falling in March, demand for crypto investments remains high. Impressively, its ten funds now hold 1.2% of all crypto in circulation and 1.7% of Bitcoin in the world

Read More

Latest Coin News

BTC

alt

  • Price Analysis: Weekend consolidation above $7,500 yields as gains extend to $7,800 on Monday during the Asian session. Read more
  • Bitcoin miner maker Ebang files for a $100M US IPO. Read more
  • Twitter’s Jack Dorsey: Bitcoin is poised to become the next world’s reserve currency. Read more

ETH

alt

  • Price analysis: Still poised for more bullish action in spite of the rejection at $200 especially with the MACD in the positive area. Read more
  • Ethereum smart contracts up 75% to almost 2M in March. Read more
  • Italy’s leading wire service is using Ethereum to thwart copycats. Read more

XRP

alt

  • Price Analysis: Consolidation above $0.19 support has assisted in keeping the bulls in control even as focus shifts to levels above $0.20. Read more
  • Ripple executive says institutional trading boosting XRP behind the scenes, with Cryptocurrency exchange Bitso taking the lead. Read more
  • XRP giveaway scams may have stolen over $1.5 Million. Read more

 

Subscribe today to receive these updates directly to your inbox every Monday morning.

Independent custody
connected to multiple exchanges
Our settlements and clearing service is backed by our award winning custody technology