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Bitcoin tanks as cryptocurrencies join in global market bloodbath

Bitcoin, the benchmark cryptocurrency, dropped suddenly and sharply in Asian trading overnight, losing as much as 7%, before rebounding a little.
Ripple's Chris Larsen

Ripple’s Chris Larsen makes Forbes 400 as the world’s richest crypto tycoon

Forbes estimates Larsen's current net worth to be $2.1 billion.

Coinbase is an $8 billion company, according to a reported new $500 million funding round

Coinbase is closing a deal that values the six-year-old cryptocurrency trading platform at $8 billion, Recode reports.
JPMorgan CEO Jamie Dimon.

75 banks have joined JPMorgan’s blockchain payments ‘party’

Lenders including Santander and Societe Generale are testing the Interbank Information Network (IIN). JPMorgan built the information sharing programme on its own proprietary blockchain platform, Quorom, and has been testing it with a handful of lenders since October 2017.

Bitcoin drops sharply and suddenly — and now cryptos across the board are getting slammed

Bitcoin dropped sharply Wednesday, losing $500 of value in just over an hour. Other cryptocurrencies fell even more sharply, with both ether and Ripple's XRP losing about 12%.
A man wears a Bitcoin logo t-shirt on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018.

Insiders say they think ethereum is a better investment than bitcoin

According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet.
A man wears a Bitcoin logo t-shirt on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018.

Insiders say they think ethereum is a better investment than bitcoin

According to new data from New York-based law firm Foley and Lardner, a group of insiders say that among cryptocurrencies like bitcoin, Dash, and Monero, they believe ethereum to be the best bet.
A mock-up of a XRP coin, which is closely linked to Ripple.

Crypto company Ripple is giving $50 million to universities including Princeton, MIT, and UCL for blockchain research

Universities involved in the project will be able to apply to Ripple's University Blockchain Research Initiative fund for cash. Some of the $50 million has already been allocated.

Cryptocurrencies are getting slammed after a raid at South Korea’s largest exchange

South Korean news editor Yonhap said prosecutors raided the country's biggest cryptocurrency exchange, Upbit, on Thursday and Friday on suspicion of fraud.
Matthew Mellon, centre, at a Dom Perignon party in Miami in 2015.

Billionaire banking heir and cryptocurrency investor Matthew Mellon dies at 54

Mellon is a descendant of the founder of Mellon Bank and investment bank Drexel-Burnham-Lambert.