Cryptocurrency Daily Roundup – May 16

Here is a summary of some of the select stories on cryptocurrency and blockchain during the past 24 hours.

Hacked Crypto Exchange Cryptopia Halts Trading; In Liquidation

New Zealand’s cryptocurrency exchange Cryptopia, which lost millions of dollars in hack, suspended its trading. The company announced that investigations are going on, and that it is in the process of liquidation. In a blog post, the exchange said David Ruscoe and Russell Moore from Grant Thornton New Zealand were appointed as its liquidators, who are securing the assets for all stakeholders.

Binance Offers Rewards To Users After System Upgrade

Hacked cryptocurrency exchange Binance has resumed all trading activities after completing its system upgrade. The upgrade that started on Wednesday took longer than expected, the company said on its blog. Binance had suspended all deposits, withdrawals, and trading during this period. Binance had lost 7,000 bitcoins, worth around $41 million, in a major hacking last week.

Huobi Unveils Regulated Crypto OTC Trading

Cryptocurrency exchange Huobi Group launched a regulated, over-the-counter or OTC trading desk for both institutional and individual clients with large trading volumes. Huobi OTC Desk, the new OTC crypto trading platform, is built on Distributed Ledger Technology or DLT license issued by Gibraltar Financial Services Commission or FSC. The service is not intended for users in the United States.

Ethereum price at highest level in 7 months

Ethereum (ETH) reached its highest level – $273 – in more than seven months on Wednesday. The last time the world’s second largest cryptocurrency traded above this value was on September 4, 2018. Samsung had confirmed extending Ethereum support to its range of Galaxy phones.

Current Prices

As of this writing, Bitcoin is down 0.14 percent or $11.18 at $7953.49 on Coinbase. Ethereum is gaining 13.16 percent or $30.63 at $263.67.

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