Altcoins This Week: Google Bans Crypto Ads, ICO GIZA Scams Over $2 Million and Much More

Описание: On Today’s Edition of Altcoins This Week We Discuss the Recent Banning of Crypto Ads by Google, the Scam Scheme From ICO GIZA That Cost Over $2million to Investors and Much More. Come Check Us Out!
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ICO GIZA Performs Exit Scam with over $2 Million

An ICO by the name of GIZA has disappeared into thin air with over $2 million of investors’ money. The project was based around the development of a hardware USB wallet for cryptocurrencies. The person leading the project was Marco Frike who later appeared to be a fake identity on LinkedIn. Rumors of a scam began to surface after a Russian Company complained of not getting paid, which culminated in the money disappearing and no one being able to contact the elusive Marco Frike.

Japan Urges G20 Regulators and IMF Pitches In

In recent news, Japan is urging all G20 counterparts to develop measures against money laundering through cryptocurrencies in a bid to fight the dark uses of cryptocurrencies in the current market. Money laundering through cryptocurrencies has become a hot topic of discussion in multiple governments that are now looking to regulate all mechanisms related to it to prevent this from happening.

Binance and Coinbase Chase New Markets

The Chinese cryptocurrency exchange Binance, which surfaced in the news last week for a hack affecting its trading bots, has announced that they will launch their own blockchain, which plans on allowing the transfer and trading of blockchain assets. Meanwhile, Coinbase has been applying for licenses to work in Europe and the UK in particular. They recently obtained an e-money license in the United Kingdom that allows them to trade with the European Union Member Nations and the UK, which shows Coinbase’s commitment to expanding their markets internationally.

Google Follows Facebook and Bans Crypto Ads

Following similar actions taken by Facebook earlier this year, Google has announced that they will be banning all advertising campaigns based around cryptocurrency and related content “(including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice)”. This measure will go into effect in June 2018.

Market Slides with Bad Press

As it was expected, the market has shown negative reactions to the latest news around the blockchain industry. The entire market is experiencing a heavy downfall with Ethereum losing approximately $100 over the last 24 hours. Ripple also had a steady but poor week, sliding down to 65 cents but has climbed back up to 70 cents. Cardano dropped from 22 cents to 17 cents. Neo continues to drop down, going from $100 to $68. BitcoinPrivate BTP lost a third of their value hitting $54 at present and ZClassic seems to be turning into a zombie blockchain, which could disappear in April if the market continues as it is.