Good afternoon and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Traders enter the mid-week to see a significant price drop in the cryptocurrency market.
Bitcoin plunged by 8.81 percent to trade for $6,436.50, as of 12.30pm today.
Ethereum is down 12.80 percent to trade for $226.44.
Ripple dropped 5.94 percent to go for $0.287837.
Litecoin lost 11.66 percent to go for $55.38.
The entire market saw an overnight drop in price, with a sharp fall coinciding with the news that Goldman Sachs is dropping its plans for a cryptocurrency trading desk.
2.30pm UPDATE: Google hand-picks cryptocurrency for its Accelerator Growth programme
Yield Coin has today announced it is one of only ten start-ups to be hand-picked by Google to join its Accelerator Growth programme.
The programme, launched by Google in 2017, aims to help start-ups increase growth in today’s digital economy and provides free resource support and programmes designed for communities who are currently underrepresented online.
During the programme, Google will support Yield Coin in increasing user growth and website traffic to its global social networking platform for the cryptocurrency trading community Yield Owl. The educational platform brings together traders and investors and aims to create stronger relationships within the global crypto-trading community.
In the first five days of the accelerator programme, video views and impressions of the CEO’s YouTube channel have increased to an outstanding two million and 30 million respectively. The number of subscribers has also surpassed the 17,000 mark, an increase of nearly 50 percent (46%) in the same time period.
12.45pm UPDATE: Cryptocurrency ATMs set to multiply in Greece
Cryptocurrency ATMs are set to become more popular in Greece following plans by a local company to install more of the machines.
Cryptocurrency ATMs continue to become more popular, with units being installed in different countries on a regular basis.
According to the Greek Reporter, a local company wants to increase Greece’s total number of cryptocurrency ATMs.
Stefanos Getsopoulos, a cryptocurrency entrepreneur, says his company has plans to install three Bitcoin ATMs in the northern part of the country.
When completed, this move will take Greece’s total cryptocurrency ATM count to five.
According to Coinatmradar.com, there are four virtual currency ATMs in Athens, and one in the city of Thessaloniki.
Local media sources say other companies are looking to install more of such machines in the future.
12pm UPDATE: Goldman Sachs pulls plans to launch crypto trading desk – prices plummet in response
Bitcoin prices continued to get slammed early Thursday, following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies.
The world’s largest digital currency fell to $6,381 or down 11 percent around 6:38 a.m. ET over the previous 24 hours, according to data from Coinbase.
Beyond Bitcoin, the price of other cryptocurrencies also continued to plunge, according to tracking site CoinMarketCap.
As of 6:38 a.m. ET, the price of ethereum had fallen by 15 percent in 24 hours, while Ripple’s XRP token had seen its value dive by 9 percent and Bitcoin cash dropped by 16 percent during that time.
Digital currencies often move in tandem, pulled by the fortunes of Bitcoin — which far exceeds its peers in terms of market size.