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Enjin Coin Gains 75% after Samsung Partnership Confirmation

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Enjin Coin (ENJ) spiked over 75% in the last 24 hours after South Korean media publishers confirmed the partnership between Samsung and Enjin (the firm backing Enjin Coin). According to the partnership, Samsung’s new phone: The Galaxy S10 will be supporting the Enjin Coin (ENJ) cryptocurrency in the phone’s preloaded wallet.

Enjin Coin Rise:

ENJ USD Price Chart

ENJ USD Price Chart

After the announcement of the partnership, ENJ has gained more than 75% in the last 24 hours. Currently, ENJ is trading around $0.163 (at the time of publication). After rising above $0.17, the price is currently correcting downwards. Enjin Coin stands at the 46th position according to the market capitalization with a market cap of $124,712,929 (data from coinmarketcap).

Earlier, when the current news was just a rumor, Enjin Coin had gained more than 300% in just a matter of hours.

According to the news publications, the partnership suggests that Samsung is getting involved in the e-sports market in the country which is on rapid growth. Enjin aims to create a gaming ecosystem which already has a massive user base of more than 20 million. The native token of the ecosystem is the Enjin Coin (ENJ) which provides ownership of in-game assets.

#Exchange

The Death of Cryptopia: How it all Happened?

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Cryptopia has now gone into liquidation and suspended trading operations with them saying that they have been unable to reduce costs and to be profitable.

After the Cryptopia exchange was hit by a big hack back in mid-January which resulted in a loss of around $16 million in Ethereum and other ERC20 tokens, it has been struggling to reopen and find any kind of relevance.

 

Cryptopia decides to liquidate:

The matter of hack was made worse by the fact that the exchange was already becoming completely irrelevant at the time of the hack. Cryptopia has now gone into liquidation and suspended trading operations with the company saying that they have been unable to reduce costs and to be profitable.

 

It was decided that liquidation was the best path forward for all the stakeholders. While the liquidation takes place, all trading and withdrawals have been suspended and the process may take months to resolve.

 

The users still have their funds locked up in the exchange and they are unable to withdraw them because Cryptopia controls the private keys. If ever it becomes possible for the users to withdraw their cryptocurrencies remains to be seen.

 

What kind of obligations will the exchange have to the stakeholders may impact the kind of obligations they have to their users and the funds of the users that are stuck on the exchange.

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#IEO

SEC Might Crackdown Crypto Exchanges that carried out IEOs

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The Securities and Exchange Commission might start looking into US-based cryptocurrency exchanges that have carried out IEOs.

The Securities and Exchange Commission might start looking into US-based cryptocurrency exchanges that have carried out IEOs. That could mean that Bittrex, KuCoin, Huobi, and Binance could all be in the spotlight here.

 

SEC Cracking Down Exchanges and IEOs?

In spite of not offering these products to Americans, but the fact that these cryptocurrency exchanges allow American customers to trade cryptocurrencies on their platform may be enough for the SEC to crack down on them.

 

The SEC is claiming that cryptocurrency exchanges may be operating as unauthorized securities declared under US securities laws if they take a fee for facilitating that token sale or are offering to bring buyers in for the issuers of the tokens which basically describes that an IEO model is.

 

Assuming that the SEC doesn’t nuke the cryptocurrency markets by making exchanges cancel all the IEOs, 2019 seems to be gearing up for a mass influx of STOs and IEOs when we see the number of ICOs dropping off substantially with estimates putting the number of STOs to double by the end of the year and the number of IEOs to triple by the end of the year. This is due to the fact that Initial Exchange Offerings are generally much better for the company that is offering the token.

 

What do you feel about this? Do you think that its a good thing that the SEC is cracking down on the exchanges and the IEOs? Tell us in the comments section.

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#Rumor

Ebay: No Plans of Accepting Bitcoin, Cryptocurrencies

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eBay has responded to the ongoing rumors that they are going to start accepting cryptocurrencies as a payment saying that they have no plans to do so.

eBay has responded to the ongoing rumors that the e-commerce and online auctions website is going to start accepting cryptocurrencies as a payment saying that they have no plans to do so.

 

eBay to accept cryptocurrency payments? Not Yet!

The rumors started to spread throughout the cryptocurrency industry after photos of the advertisements of eBay the Consensus event went viral. The advertisement read: “ Virtual Currency. It’s Happening on eBay.”


People were linking the current sudden bullish trend in the price of bitcoin to the e-commerce giant and online auctions site preparing to accept cryptocurrency payments.

 

The adoption of cryptocurrency by eBay which quotes itself as the world’s largest marketplace would have been a great move towards mainstream adoption and thus everyone around the cryptocurrency space was busy discussing the rumor. However, according to a recent report published by Bloomberg, eBay has denied the rumors saying that it has no plans to start accepting cryptocurrency payments.

 

An eBay spokesman said in the report that cryptocurrency (such as bitcoin) is not accepted as payment on the platform and it is neither the part of their payments strategy.

 

However, currently, eBay does have a section on the platform which reads Virtual Currency, however, on this section, the users can use fiat currency to buy cryptocurrency from sellers.

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