Crypto This Week: Bitstamp Acquired By NXMH, Bitcoin Turns 10 Years Old And More

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Bitstamp Acquired By NXMH

The CEO of Bitstamp, Nejc Kodrič confirmed on Monday that NXMH, a Belgium-based investment company, has bought Bitstamp, the digital currency exchange in an all-cash deal. The value of Bitstamp climbed from $39 million in 2014 to $60 million in 2016 making it the largest digital currency exchange in the European Union by volume.

NXMH is the European subsidiary of South Korea-based NXC, which invests in digital technologies. NXC also owns South Korean cryptocurrency exchange Korbit although Bitstamp and Korbit will operate separately.

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In an interview with Reuters, Kodrič claimed that the sale was not planned and that due to last year’s favorable conditions, it peaked the interest of potential buyers…Kodrič also mentioned that the volume of the company has been down between 60-70 percent, but pointed out that Bitstamp remained profitable in 2018 because current cryptocurrency prices were still much higher than they were for most of last year.

“The sale wasn’t planned. There was no active effort to go around and solicit buyers,” “The vibrant industry last year sparked potential interest from buyers to make a footprint in the industry. We started to get approached by buyers in the middle of last year,”

NXMH owns 80% stake of Bitstamp while Kodrič retains a 10% ownership in the exchange and will continue as CEO.

Crypto Self-Regulation In Japan

According to NewsBTC, Japan’s Financial Services Agency (FSA), will allow the JVCEA – Japan Virtual Currency Exchange Association to regulate local crypto exchanges. This means that the JVCEA can monitor and punish any exchange that violates the body’s regulations, which include leverage trading features.

The self-regulating consortium, which includes BitFlyer, Tech Bureau, Quoine, and a dozen local startups, will also be responsible for tackling money laundering, policing regulatory compliance, and implementing operational guidelines for Japanese platforms.

Addressing this regulatory permission, an unnamed FSA authority issued the following statement:

“It’s a very fast-moving industry. It’s better for experts to make rules in a timely manner than bureaucrats do.”

Bitcoin Is 10 Years Old

Bitcoin marks its 10th-year anniversary, after the release of the Bitcoin white paper in 2008, Satoshi Nakamoto – the fictitious name used by the inventor of bitcoin, started exchanging emails with cryptographers who were mostly cypherpunks looking to spread computer encryption.

One of the emails from Satoshi reads:

I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third partydated – Oct. 31, 2008, at 06:10:00 PM

Even though there were a number of transactions, the first documented transaction did not happen until 2010, now there are now more than 250,000 on-ledger transactions per day, according to Blockchain.com.

The journey of the most popular cryptocurrency, bitcoin has seen many ups and downs, yet a lot of crypto-enthusiast are quite optimistic about the future of Bitcoin. BTC grew from $135.30 in April 2013, to a peak of $20,000 in December 2017. Today it is currently hovering around the $6500 mark, where its been for the past few weeks. With over 2000 coins since the inception of cryptocurrencies, Bitcoin still remains the No. 1 digital currency with 53,7% dominance in the market and a market cap of over $112 billion.

And now, this week’s airdrops, Rubiix and Fructus.

Rubiix (RBX)

Rubiix Protocol is a proprietary distributed ledger technology that removes consumer data brokers and distributes advertising revenue to data-providing consumers via Brand-Consumer Smart Contracts. Rubiix is airdropping up to 27 RBX tokens the equivalence of $10.26 to airdrop participants. The ICO price is 1 RBX equaling 0.38 USD and the airdrop is on till the end of November.

How to join?

  1. Sign in to the Rubiix AirDrop Portal
  2. Join Rubiix on Telegram.
  3. Download the Rubiix App
  4. Sign-In to the App

Fructus (FRUCTUS)

Fructus is a project aiming to create transparency on the supply chain for organic fruits and vegetables using Blockchain technology. Fructus is creating a ÐApp where users can buy and sell organic products.

Fructus is airdropping up to 85 FRUCTUS tokens the equivalence of $25,5 to airdrop participants and 10 FRUCTUS tokens the equivalence of $3 for every referral. The ICO price is 1 FRUCTUS equaling 0.30 USD

How to join?

  1. Register to the Fructus AirDrop platform
  2. Click on the ”Airdrop” tab
  3. Complete the different social tasks.

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