Crypto.IQ Daily Radio Show May 10: Bitcoin (BTC) up Over 100% Since December, Bitfinex Successfully Raises $1 Billion Via LEO Despite Ongoing Lawsuit, MakerDAO Borrowers Are Losing Due to Rapid Increase in Interest Rates, Binance Looks to Re-Open Deposits and Withdrawals Early Next Week, a Congressman Wants to Ban Cryptocurrency Since It Takes Away Power from the Government

May 10, 2019 / by Zachary Mashiach

Listen to the May 10 Crypto.IQ Daily Radio Show

On this edition of the Crypto.IQ Daily Radio Show, we do a deep dive market analysis. Bitcoin’s (BTC) price is now $6,300, which is over 100% higher than the bear market low in December. Altcoins are looking a bit healthier this morning, and combined with Bitcoin’s (BTC) price rise, the total crypto market cap has risen to a new 2019 high of $192 billion. We discuss how Bitfinex has successfully raised $1 billion via an initial exchange offering (IEO) for the LEO token, right in the middle of a lawsuit with the New York Attorney General’s Office. Hear about how Binance is revamping their security following a 7,000 Bitcoin (BTC) hack and is aiming to re-open deposits and withdrawals early next week. Learn about how MakerDAO originally had 0.5% interest rates for loans backed by Ethereum (ETH) collateral, and this lured in many users, but now interest rates have increased to 19.5% causing big losses for borrowers. We also discuss how congressman Brad Sherman from California has called for banning cryptocurrency, since he believes cryptocurrency threatens the power of the USD and the government. This is a rare case of a politician stating their true intentions regarding crypto regulation. It is very unlikely that cryptocurrency could ever be banned in the United States since it is an important sector of the economy and such a ban would violate basic freedom.

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