Daily crypto: Broad declines and SEC charges ICO promoters

Daily crypto: Broad declines and SEC charges ICO promoters.

Image source: Shutterstock / Trijo News / Wikimedia Commons

Tim Haldorsson

tim.haldorsson@trijo.co

The total market cap for all cryptocurrencies has decreased by $6 billion. In addition, the SEC, U.S. Securities and Exchange Commission, has charged Floyd Mayweather and Dj Khaled for promoting different ICOs.

The crypto markets have fallen in value over the last 24 hours and most currencies have fallen. At the time of writing, approximately 90 of the 100 biggest cryptocurrencies show red numbers.

The total market cap for all cryptocurrencies has lost $6 billion over the last 24 hours – from $136 billion yesterday to $130 billion today.

Recently, SEC, the U.S. Securities and Exchange Commission, charged the boxing celebrity Floyd Mayweather and the artist Dj Khaled for promoting different ICOs. Mayweather reached a deal with the SEC and agreed to collaborate with the investigation. He also agreed to not promote any securities in the next three years and pay to back $614,000.

Investors should be skeptical

Dj Khaled agreed to pay back $152,000 and to not promote any securities in the next two years.

“Investors should be skeptical of investment advice posted to social media platforms, and should not make decisions based on celebrity endorsements. Social media influencers are often paid promoters, not investment professionals, and the securities they’re touting, regardless of whether they are issued using traditional certificates or on the blockchain, could be fraud”, Steven Peikin, director at SEC said, according to Cointelegraph.

Bitcoin loses the most

Looking at the biggest cryptocurrencies, all of them show drops in prices. Bitcoin (-4,78%), bitcoin cash (-4,51%), stellar (-4,29%), xrp (-3,24%) and ethereum (-3,19%) have lost in value over the last day.

Bitcoin (-4,78%) is currently trading at about $4,019, a decline of $200 from yesterday.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were factom (+10,42%) and waves (+6,41%), and those who performed the worst were bitcoin private (-13,77%) and maidsafecoin (-9,28%).

Asset: Price: % (24h)*
Bitcoin $4 019,58 -4,78%
Xrp $0,36209 -3,24%
Ethereum $113,34 -3,19%
Stellar $0,16039 -4,29%
Bitcoin cash $170,90 -4,51%

*All numbers in this article are from Coinmarketcap.com.

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