Bitmain nears 51% control of Bitcoin – June 25

Current Bitcoin Price: $6297 (as of 7:50 AM PST)

Going into the weekend, the market dropped by over 10% across the board. However, there’s been a solid attempt at recovering from that over the last 24 hours, with most cryptocurrenciess up by over 6%. In fact, of the top 100 coins, only four are in the red.

The up-swing has been good news for a handful of major coins: Ontology (ONT, #19) is up 21%, VeChain (VEN, #17) is up 14%, Mondero (XMR, #13) is also up 14%, and EOS (#5) is up 13%.

Top Bitcoin & Crypto News Stories for 25th June 2018

Bitmain nears 51% control of Bitcoin

Bitmain is a major producer of ASIC devices, which are used to mine Bitcoin and other blockchain cryptocurrencies. In addition, they own some of the network’s major mining pools — groups that reward miners evenly for their efforts.

Bitcoin’s two biggest mining pools, and Antpool, are owned by Bitmain, and currently count for over 40% of the network’s power. This is a scary thought, as only 51% is needed for a majority say in the network, which would effectively allow them to dictate the course of transactions — past, present, and future.

THEKEY enters blockchain collaboration with Chinese government

While the Chinese government banned cryptocurrency usage not too long ago, it sounds like the nation still has a very positive view on blockchain technology itself.

THEKEY (TKY, #175) is a decentralized identity verification project, and they’ve just entered collaboration with the Chinese government to research the applications of blockchain in China’s social security services.

Coinbase struggles to keep up with new users

Coinbase has had a lot success recently — with a huge influx of new users, and, as a result, a huge influx of profits.

However, it sounds like some issues have come with that, as detailed in a 134 page report of complaints that the SEC recently received. The complaints include trouble accessing funds and untimely customer support.