Coinbase Chief Legal Officer Hired by US Treasury Secretary – March 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $5,283

Bitcoin price has risen back above the $5,000 mark, as the cryptocurrency markets finally see some much-needed stability.

Top-20 altcoins have also provided some relief to holders, as both Ethereum and XRP rise 9%, Bitcoin Cash rallies 16%, and Monero and Chainlink lead the way with 18% rises.

Top Stories for March 17, 2020 πŸ”₯

πŸ‘‰ Coinbase Chief Legal Officer Hired by US Treasury Secretary

Brian Brooks, chief legal officer at Coinbase, has been appointed by US Treasury Secretary Steven Mnuchin as a top banking regulator in the country.

Brooks will serve as COO and First Deputy Comptroller at the Office of the Comptroller of the Currency (OCC). The OCC supervises banks, issues banking rules and regulations and takes action against banks who fail to comply.

πŸ‘‰ Bakkt Raises $330M in Series B Funding Round, Led by Microsoft

Institutional cryptocurrency company Bakkt has secured $300 million in Series B funding, which was led by Microsoft and Pantera Capital.

Bakkt announced in October of last year that it would be focusing on the development of a consumer-focused app, following their acquisition of Bridge2 Solutions, a loyalty services provider.

πŸ‘‰ Bitcoin Miners Drop Off Network Following Price Collapse

Data coming from the F2Pool Bitcoin mining pool has shown that most mining pools have witnessed large drops in hash rate – the computer power expended on the network.

Huobi’s mining pool has observed the largest drop, losing over one-quarter of its hash rate within the last week of activity.