BitGrail owner deemed at fault – January 28

Current Bitcoin Price: $3435 (as of 9:00 AM PST)

The total cryptocurrency market cap has fallen more than 5.5% today. In comparison, Bitcoin is doing well for itself having fallen only around 3.5%. Ethereum and XRP, on the other hand, aren’t faring so well: they have both crashed between 7 and 10%.

Major currencies that have fallen more than 10% today include Bitcoin Cash, TRON, Stellar, Binance Coin, and NEM; the only holders that can celebrate are those of stablecoins!

Top Bitcoin & Crypto News Stories for 28th January 2018

BitGrail owner deemed at fault

Almost a year ago, cryptocurrency exchange BitGrail — known best for its support for the NANO (previously RaiBlocks) cryptocurrency — was hacked. However, as the story unveiled, it was revealed that the exchange’s owner acted with extreme negligence: withdrawing funds for himself while failing to announce the hack.

The BitGrail owner, known by the pseudonym Bomber, has been deemed at fault for the hacks, as ruled by Italian courts. His personal funds will be used to repay users who lost funds at the exchange, and he has already been declared bankrupt.

VanEck CEO: Bitcoin losing demand

One of the first applications for a Bitcoin ETF was submitted by VanEck. After several delays on the SEC’s behalf, the VanEck ETF was set for a decision by the end of the month — until they withdrew their application last week.

The CEO of VanEck associates has stated that demand for Bitcoin is moving to gold, a commodity for which they also offer financial instruments. Some commentators spectate that the Bitcoin ETF application was simply a marketing ploy for the global firm.

TurboTax offers support for cryptocurrencies

TurboTax is one of America’s best-known home accounting suites, which provides the tools necessary to fill out your personal tax returns.

A Reddit user has revealed functionality in TurboTax which allows you to add cryptocurrency-related sales or trades to your tax return, by importing a CSV document of trades or linking to an exchange.