Good morning and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
The cryptocurrency market is posting small losses today as a slump in confidence causes prices to slip.
Bitcoin rose just 0.02 percent on the day to trade for $6,451.49.
Ethereum slipped 4.74 percent to trade for $289.12.
Ripple dropped by 3.87 percent to go to $0.333730.
Litecoin also dropped 3.43 percent to sell for $56.08.
This will be the second week in which the Securities and Exchange Commission (SEC) has delayed their decision to ratify a Bitcoin Exchange-traded fund (ETF).
The continued uncertainty has caused investors to slowly drop in confidence as BTC slides further into the red each week
5.30pm UPDATE: American Express starts using Ripple’s xCurrent
The Vice President of American Express Colin O’Flaherty on Wednesday confirmed that the company was officially using xCurrent, a blockchain-based financial solution from Ripple Inc.
O’Flaherty, who doubles as the General Manager of global commercial services UK & Russia, spoke at the last day of The Money 20/20 event held from 4th to 6th June in Amsterdam.
“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds. And that provides a real opportunity to alleviate most of the issues our customers are facing,” he said at a discussion session at the event.
Among the panelists at the event was Brad Garlinghouse, CEO of Ripple.
He spoke earlier at the event about the cryptocurrency markets, Bitcoin (BTC), and Ripple.
He also highlighted the inroads the blockchain startup has made in the financial industry. According to him, more and more banks were continually embracing Ripple’s technology.
3.45pm UPDATE: Bitcoin holds steady against tumbling alt coin
BTC has held its ground around $6,500 to start the week while alt coins continue to suffer losses.
Bitcoin has entered its sixth consecutive day of relative stability, as prices hold despite an extended period of uncertainty surrounding the ETF decision.
Altcoins, on the other hand, are all losing out as the weeks stretch on, with many losing huge chunks of market value every week.
3pm UPDATE: 21-year-old Bitcoin trader indicted for money laundering
A California-based man has been prosecuted for allegedly laundering money in numerous counts.
According to an announcement from the Department of Justice in the Southern District of California, Jacob Burrell Campos was ordered to be held without bail at a hearing on
Friday in connection to the charges.
Based on a court filing against him entered on Aug. 8 and unsealed over the weekend, the prosecutors alleged that, from January 2015 to April 2016, Burrell sold about $750,000 worth of Bitcoin to 900 individuals in the U.S. via his Bitcoin exchange service.