Top Five Cryptocurrency News Of The Week April 20-26, 2019

Several news broke during the course of the just concluded week, however, only the top five of will be mentioned below.



Indian Government Renew Efforts To Ban Public Digital Currencies



Recently, the government of India has reportedly increased its efforts to kick out public virtual currencies as some government officials have come forth to show their support for the placement of ban on the issuance and trading of cryptocurrencies in the country.



Bitfinex Losses $850 million Covers Up With Funds From Tether



According to a recent report, crypto exchange, Bitfinex allegedly lost $850 million but was able to hide this from the public eyes using funds from Tether, which is a stablecoin operator. The office of the New York Attorney General reported that Letitia James has obtained a court order against iFinex Inc., which operates both Tether and Bitfinex. The court order states that both firms should desist from going against New York laws and swindling of people of New York.



Wirex To Launch 26 Stablecoins On The Stellar Blockchain Network



U.K. based company, Wirex has made it known that it will launch 26 stablecoins on Stellar blockchain network. The stablecoins are going to be supported by fiat currencies such as the Euro, Hong Kong dollar, the Singapore dollar, the British pound, and the U.S. dollar.



Samsung’s Blockchain Network Is In Progress



Samsung which is an electronics giant based in South Korea has recently announced that it is building its own blockchain network based on Ethereum and hoping to issue its own token.



Coinbase Closes Its Chicago Office



A recent report has revealed that virtual currency exchange, Coinbase is set to shut down its office in Chicago. The closing of Coinbase Markets which was established last year will lead to the laying-off of 30 engineers. The office was specialized in the development of complex electronic markets technologies like matching engines and high-frequency trading for virtual currency.