‘My Big Coin’ Alleged to be a Big Fraud

Cryptocurrencies have found a steady range the past day, but volatility has still been present in the major coins. 

CFTC Going After ‘My Big Coin’ as Fraud, 6 Million USD Lawsuit

The Commodities Futures Trading Commission in the U.S, filed a lawsuit against the founders of ‘My Big Coin’ yesterday. The creators of ‘My Big Coin’ are alleged to have scammed investors out of nearly 6 million U.S Dollars on the claim their cryptocurrency – which did not exist in reality – was being traded on exchanges, backed by Gold and had the approval of MasterCard – none of which the CFTC says was true. The U.S regulatory agency says ‘My Big Coin’ operated a massive fraud and they are seeking penalties while warning consumers to practice due diligence once again with cryptocurrencies.

Ethereum Volatility has Escalated, Ethereum within Center of its Range

Ethereum is within the center of its month-long range. The price of Ether has climbed in the past day, off from its lows of nearly 900.00 U.S Dollars, as it hovers near 1065.00 U.S Dollars this morning. Important resistance continues to remain near 1200.00 Dollars, and a critical support level is around 750.00. While the news of volatility in Bitcoin may sound more wicked in comparison, in truth the price ratios of Ethereum from a percentage standpoint – have been significant too.

iFX Expo in Hong Kong Underway

The iFX Expo which is officially underway in Hong Kong is making Cryptocurrency the main theme of its get together. In other words, speculators can expect more opportunities to trade in Cryptocurrencies in the coming year as more products are offered.

San Francisco Blockchain Event Tomorrow

The Blockchain Connect Conference will get underway in San Francisco tomorrow and over 1000 attendees are expected to participate.

• 26th, U.S, Blockchain Connect Conference in San Francisco

Yaron Mazor is a senior analyst at SuperTraderTV.

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