German Crypto Company Wirecard Loses $2B, Files for Insolvency – June 25

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $9,223

Bitcoin price has fallen for a second day in a row, as price briefly tested the $9,000 mark overnight. Price has since rebounded to the $9,200s, in a small recovery.

Top-20 altcoins have fallen across the board, with Ethereum falling almost 3%, XRP falling more than 1%, and Coin with a 4% loss..

Top Stories for June 25, 2020 πŸ”₯

πŸ‘‰ German Crypto Company Wirecard Loses $2B, Files for Insolvency

Wirecard, a German digital payments company, has filed for insolvency, upon discovery that $2.1 billion had gone missing.

The discovery was made upon an audit from Ernst & Young, who noticed that 80% of the company’s net cash was nowhere to be found. According to the company, the money most likely did not exist, and that they lied to investors regarding profits.

Wirecard’s CEO stepped down the very next day, and handed himself in to the police.

πŸ‘‰ Circle and Coinbase’s USDC Stablecoin to Launch on Algorand

Circle and Coinbase’s CENTRE consortium has announced that its USDC stablecoin will be launching on the Algorand blockchain, in collaboration with the blockchain’s foundation.

USDC is the second-largest stablecoin behind Tether’s USDT, with a market cap of $928 billion. USDT was the first stablecoin to launch on Algorand earlier this year.

πŸ‘‰ More PlusToken Funds on the Move – Now $188M of ETH

More funds connected to the alleged Ponzi scheme, PlusToken, are on the move, as almost 790,000 ETH have been moved.

The ETH, worth about $188 million, is the second significant sum of money moved by PlusToken this week, with $67 million in EOS tokens also recently transferred.