Chinese police stop by TRON offices – July 8

📈 30 Second Price Summary

Current Bitcoin Price$11,894

Bitcoin has only moved $100 to the upside since our last newsletter on Friday. However, the 24 hour chart is reading positive 4.5%, so you may have seen Bitcoin dropping by about that much over the weekend.

Overall, the market is up a cool 3.7% today. Ethereum is up more than 5%, while XRP and Litecoin are up just 1.5%. Among the top-20, both LEO Token and Chainlink are both down just a few percent today.

Top Stories for 8th July 2019 🔥

👉 Chinese police stop by TRON offices

TRON founder Justin Sun has found himself at the center of a fair amount of controversy over recent years, following hundreds of claims about bogus partnerships and slow or ineffective development.

What users didn’t expect to see this morning was TRON offices being raided by Chinese police. Although the details still aren’t clear, it’s believed that Chinese police targeted TRON because a fraudulent cryptocurrency project had been using the TRON name to scam investors.

It is still unclear whether there has been any foul play — relating to the allegedly fraudulent project — on behalf of the TRON team or its founder, Justin Sun.

👉 Statistic: 11% of US population has invested in crypto

How many people do you know that own cryptocurrency? Many of us can likely only thing of a small handful of people in our local communities that understand cryptocurrency, let alone having invested in it.

Statistics from Cryptohopper suggest that more than 11% of the US population has invested in cryptocurrency, which seems unusually high. Some users speculate the real figure is closer to 2%.

👉 Singapore to drop sales tax for crypto

Singapore is one of many countries that has a sales tax: a tax separate from income tax that is applied to the majority of traded goods and services. Currently, purchasing cryptocurrency requires you to pay this tax.

The country’s tax agency, the Inland Revenue Authority of Singapore, is considering dropping this tax for cryptocurrency purchases. After all, the European Union did so more than a year ago!