probably best to dump this turkey now[FONT="]
<article itemprop="articleBody" data-uuid="750023bb-b517-39ef-8ba1-fdfa9815740c" data-type="story" data-reactid="9"><header id="SideTop-0-HeadComponentTitle" class="canvas-header" data-reactid="2">[h=1]Here's Why Bitcoin, Ethereum, and Ripple Are Plunging Today[/h]</header>
Matthew Frankel, The Motley Fool
Motley Fool<time class="date Fz(11px) Mb(4px) D(ib)" datetime="2018-01-30T20:28:00.000Z" itemprop="datePublished" data-reactid="15" style="display: inline-block; zoom: 1; font-size: 11px; margin-bottom: 4px;">January 30, 201</time>
The stock market's correction over the past couple of days could certainly be playing a role in the decline. In addition, a few troubling news items seem to be worrying cryptocurrency investors, which may be causing selling pressure.
<figure class="canvas-image Mx(a) canvas-atom My(24px) My(20px)--sm Ta(c)" data-type="image" itemscope="" itemprop="associatedMedia image" itemtype="https://schema.org/ImageObject" data-reactid="17" style="margin: 24px auto; text-align: center; max-width: 100%;">
<figcaption class="C($c-fuji-grey-h) Fz(13px) Py(5px) Lh(1.5)" title="A person staring at a red arrow on graph trending sharply downward." data-reactid="24" style="color: rgb(118, 125, 132); font-size: 13px; line-height: 1.5; padding-top: 5px; padding-bottom: 5px;">A person staring at a red arrow on graph trending sharply downward.
</figcaption><button class="C($c-fuji-blue-1-b) Cur(p) W(100%) T(63px) Bgc(#fff) Ta(start) Fz(13px) P(0) Bd(0) O(0) Lh(1.5) Pos(a)" data-reactid="26" style="background-color: rgb(255, 255, 255); overflow: visible; margin: 0px; cursor: pointer; font-size: 13px; font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; line-height: 1.5; border-width: 0px; border-style: initial; border-color: initial; color: rgb(0, 129, 242); outline: 0px; top: 63px; padding: 0px; position: absolute; text-align: left; width: 600px;">More</button>
</figure>Image source: Getty Images.
[h=2]Today's cryptocurrency prices[/h]Here's a look at the five largest cryptocurrencies by market capitalization, and how much each has changed over the past 24 hours.
<thead>
</thead><tbody style="display: block;">
</tbody>
Data Source: investing.com. Prices and daily changes as of Jan. 30, 2018 at 2:15 p.m. EST, and prices are rounded to the nearest cent where appropriate.
Cryptocurrency prices are down pretty much across the board. In fact, all of the top 20 cryptocurrencies are down on Tuesday. Bitcoin (BTC-USD) dropped below the key $10,000 level, and other leading cryptocurrencies were also plunging. Of the top five, only Ethereum (ETH-USD) remains in the green over the past week.
[h=2]Subpoenas are scaring investors[/h]One reason for the widespread decline was a Bloomberg report that a pair of subpoenas were issued to cryptocurrency-related companies. Cryptocurrency exchange Bitfinex and coin issuer Tether were reportedly sent subpoenas on Dec. 6.
If you're not familiar, Tether's digital currency is supposedly backed by the U.S. dollar, and the company claims that each of its coins are backed by U.S. dollars held in reserve -- in other words, each of Tether's coins is supposedly worth $1. As of this writing, this means that the company should have roughly $2.3 billion (in U.S. dollars, not in digital currencies) in reserve, although no evidence has been provided and many doubt that the money is actually there.
Both Tether and Bitfinex have the same CEO and also share some other corporate officers.
[h=2]SEC freezes a huge ICO[/h]Initial coin offerings, or ICOs, have been the subject of several warnings to consumers by the Securities and Exchange Commission (SEC).
On Tuesday, the SEC announced that it would be freezing the assets of Dallas-based AriseBank, and would be halting its ICO. According to the complaint, the bank "used social media, a celebrity endorsement, and other wide dissemination tactics to raise what it claims to be $600 million of its $1 billion goal in just two months." It also said that because the ICO was never registered with the SEC, it constitutes an illegal offer to sell securities.
AriseBank, which refers to itself as a "decentralized bank," is also accused of falsely claiming that it purchased an FDIC insured bank, through which it could offer customers insured deposit accounts.
[h=2]Adding to investor uncertainty[/h]The bottom line is that there are several things going on in the cryptocurrency market that seem to be adding to investor fears. This, combined with an absence of recent positive catalysts, is likely the force pushing the cryptocurrency markets lower Tuesday.
</article>
[/FONT]
Matthew Frankel, The Motley Fool
Motley Fool<time class="date Fz(11px) Mb(4px) D(ib)" datetime="2018-01-30T20:28:00.000Z" itemprop="datePublished" data-reactid="15" style="display: inline-block; zoom: 1; font-size: 11px; margin-bottom: 4px;">January 30, 201</time>
The stock market's correction over the past couple of days could certainly be playing a role in the decline. In addition, a few troubling news items seem to be worrying cryptocurrency investors, which may be causing selling pressure.
<figure class="canvas-image Mx(a) canvas-atom My(24px) My(20px)--sm Ta(c)" data-type="image" itemscope="" itemprop="associatedMedia image" itemtype="https://schema.org/ImageObject" data-reactid="17" style="margin: 24px auto; text-align: center; max-width: 100%;">
<figcaption class="C($c-fuji-grey-h) Fz(13px) Py(5px) Lh(1.5)" title="A person staring at a red arrow on graph trending sharply downward." data-reactid="24" style="color: rgb(118, 125, 132); font-size: 13px; line-height: 1.5; padding-top: 5px; padding-bottom: 5px;">A person staring at a red arrow on graph trending sharply downward.
</figcaption><button class="C($c-fuji-blue-1-b) Cur(p) W(100%) T(63px) Bgc(#fff) Ta(start) Fz(13px) P(0) Bd(0) O(0) Lh(1.5) Pos(a)" data-reactid="26" style="background-color: rgb(255, 255, 255); overflow: visible; margin: 0px; cursor: pointer; font-size: 13px; font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; line-height: 1.5; border-width: 0px; border-style: initial; border-color: initial; color: rgb(0, 129, 242); outline: 0px; top: 63px; padding: 0px; position: absolute; text-align: left; width: 600px;">More</button>
</figure>Image source: Getty Images.
[h=2]Today's cryptocurrency prices[/h]Here's a look at the five largest cryptocurrencies by market capitalization, and how much each has changed over the past 24 hours.
| Cryptocurrency Name (Code) | Price in U.S. Dollars | Day's Change |
|---|---|---|
| Bitcoin (BTC-USD) | $9,936 | (12.5%) |
| Ethereum (ETH-USD) | $1,042.60 | (11.6%) |
| Ripple (XRP-USD) | $1.10 | (15.4%) |
| Bitcoin Cash (BCH-USD) | $1,476.20 | (11.6%) |
| Cardano (ADA-USD) | $0.50 | (17.1%) |
<thead>
</thead><tbody style="display: block;">
</tbody>
Data Source: investing.com. Prices and daily changes as of Jan. 30, 2018 at 2:15 p.m. EST, and prices are rounded to the nearest cent where appropriate.
Cryptocurrency prices are down pretty much across the board. In fact, all of the top 20 cryptocurrencies are down on Tuesday. Bitcoin (BTC-USD) dropped below the key $10,000 level, and other leading cryptocurrencies were also plunging. Of the top five, only Ethereum (ETH-USD) remains in the green over the past week.
[h=2]Subpoenas are scaring investors[/h]One reason for the widespread decline was a Bloomberg report that a pair of subpoenas were issued to cryptocurrency-related companies. Cryptocurrency exchange Bitfinex and coin issuer Tether were reportedly sent subpoenas on Dec. 6.
If you're not familiar, Tether's digital currency is supposedly backed by the U.S. dollar, and the company claims that each of its coins are backed by U.S. dollars held in reserve -- in other words, each of Tether's coins is supposedly worth $1. As of this writing, this means that the company should have roughly $2.3 billion (in U.S. dollars, not in digital currencies) in reserve, although no evidence has been provided and many doubt that the money is actually there.
Both Tether and Bitfinex have the same CEO and also share some other corporate officers.
[h=2]SEC freezes a huge ICO[/h]Initial coin offerings, or ICOs, have been the subject of several warnings to consumers by the Securities and Exchange Commission (SEC).
On Tuesday, the SEC announced that it would be freezing the assets of Dallas-based AriseBank, and would be halting its ICO. According to the complaint, the bank "used social media, a celebrity endorsement, and other wide dissemination tactics to raise what it claims to be $600 million of its $1 billion goal in just two months." It also said that because the ICO was never registered with the SEC, it constitutes an illegal offer to sell securities.
AriseBank, which refers to itself as a "decentralized bank," is also accused of falsely claiming that it purchased an FDIC insured bank, through which it could offer customers insured deposit accounts.
[h=2]Adding to investor uncertainty[/h]The bottom line is that there are several things going on in the cryptocurrency market that seem to be adding to investor fears. This, combined with an absence of recent positive catalysts, is likely the force pushing the cryptocurrency markets lower Tuesday.
</article>
[/FONT]
