Big Bucks Behind Korean Crypto Exchanges, Seagal Side-Steps and a Forbes Fail

Both Bitcoin and Ethereum lower overnight at $8k and $460 respectively. Whilst the drop could in part be as a result of scaremongering headlines from the lower end of the media regarding Twitter banning crypto advertising (which is hardly breaking news now) a more likely cause is the announcement of the closure of LitePay (a merchant payment processing system for LiteCoin).

South Korea sees more of its multi-billion dollar corporations entering the crypto space by funding cryptocurrency exchanges. NHN (NHN Entertainment Corporation) who initially funded OKCoin have announced their expansion and launch of OKCoin Korea. Targeted to launch this month, the exchange would extend the number crypto-won trading pairs to 60 – significantly more than currently available on Bithumb which has just 12 pairs available.

Steven Seagal has now stepped off the celebrity crypto-bandwagon after an announcement last night by Bitcoiin2Gen thanking him for his support. The press release however makes no mention of the regulatory warnings, choosing to elaborate on media misinformation concerning their whitepaper. Sadly this probably means we won’t see a financial fight film any time soon.

In what has to be possibly one of the most misleading and pointless surveys conducted recently, a piece on Forbes by a contributor claims BTC, ETH and LTC are the most popular crypto investment for millennials. From a data set of only 1,000 individuals, the writer manages to reach the conclusion that Litecoin is more popular than Ripple because answers given by respondents correlate to the market caps (with the exception of Ripple). Given the range of cryptocurrencies that exist, the survey size moots the results entirely, essentially illustrating the main stream media still refuses to learn the difference between correlation and causation with regards to statistics.

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Created: Tuesday, March 27, 2018

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