The State of the Market: Over the past 24 hours, cryptocurrency markets have appeared to reach relative stability, with only minor 1–3% loses across the top ten coins. Bitcoin (BTC) and Ethereum (ETH) have both poses loses of just over 1% to land, respectively, at $6,340 and $320. As the crypto markets have continued to bleed, Bitcoin dominance has been on the rise — recently surpassing 51%.

1) KuCoin, the cryptocurrency exchange based in Singapore, recently announced that it is launching an institutional investor program. In the program, qualifying investors will be given access to trading fee discounts. Institutional investors will be gauged using trading activity and the standards of professional-level trading. The investors will also need to complete the KYC verification program to be considered (read more).

2) According to a recent report from Business Insider report, David Marcus, who formerly held the post of vice president of Facebook Messenger, announced today that his 8-month tenure on Coinbase’s board would be coming to an end. Following the announcement, a Coinbase representative explained that Marcus’s resignation “was made to avoid the appearance of a conflict of interest,” which some analysts have speculated may be Facebook’s own blockchain initiative. Marcus also revealed that he was setting up ‘a new group’ at Facebook around blockchain, lending weight to the speculations (read more).

3) The Veteran entrepreneur and creator of Megaupload, recently sent a Tweet advising his over 700,000 followers to purchase gold and cryptocurrencies like bitcoin as “USD will become worthless.” Kim Dotcom gave context for the Tweet, framing it as a hedging strategy against an upcoming economic crisis, or in his words, a “big crash is coming 100%” (read more).

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