Alternet Systems launches a $ 100 million ICO

Grayscale Bitcoin Trust drops 30% in March

Shares of Grayscale Bitcoin Trust (GBTC) fell 30% over March, largely due to lower Bitcoin prices.

At the beginning of the month, the company purchased 40,000 BTC, and currently the value of crypto assets managed by Grayscale Investment is $ 1.5 billion. In total, the trust manages over 300,000 Bitcoin.

Grayscale Bitcoin Trust is one of the most durable investment vehicles approved by FINRA. On February 5, GBTC shares were up more than 10%, but after lowering Bitcoin price on Thursday, their value fell by 45% from $ 11.52 to $ 6.32 per share.

On March 2, Grayscale Investments CEO Michael Sonnenschein told The Compound:

“Bitcoin itself has reinforced its role as a depository of value or digital gold. Institutions now look at bitcoin as part of the same category of security assets as bonds or gold. It is a change of attitude that has taken place approximately in the last 12 or 18 months. ”

Since the stock markets crashed on March 12, the price of gold and other precious metals has fallen. Friday was the largest weekly loss in 1983 for gold of 4.5%.
Meanwhile, Bitcoin has recovered from its sharp decline and remained above the $ 5,000 threshold this weekend. The value of GBTC shares is expected to grow slightly next week.

Crypto payment provider Coinpip has temporarily suspended its services

Singapore-based Coinpip has announced it has “suspended operations” to initiate licensing procedures.

“We will focus on reviewing license requirements under the Singapore Payment Services Act,”

said Coinpip. The transactions made before February 11 would be completed, the company added.

In January, the Monetary Authority of Singapore (MAS) changed the regulatory framework for cryptocurrency payments. This means that crypto companies in the jurisdiction must register and apply for a license to operate.

Coinpip began its activity as a payment service provider with Bitcoin for traders and subsequently expanded into international payments and wages payments.

Alternet Systems – $ 100 million ICO for the construction of electric vehicles

US company Alternet Systems Inc (ALYI) has announced it plans to launch a $ 100 million ICO. The funds raised will be used for the development of electric vehicles in Sub-Saharan Africa.

Alternet is a company specialized in energy storage, military applications and electric motorcycles. The company has developed an electric motorcycle with an attachment designed for the ride-sharing market in Africa.

Although it has not yet announced the exact date for the ICO, Alternet Systems said the token has already been issued on the Ethereum blockchain in collaboration with an unnamed crypto company.
Currently, the project is in the process of reviewing the regulatory framework and is developing its marketing plan for the ICO.

The African continent is experiencing a sharp increase in interest for blockchain and cryptocurrencies. In early March, for example, the Bill and Melinda Gates Foundation awarded a $ 1.4 million grant to blockchain Crest. The money will be used to expand digital financial services to the population without access to banking services in Africa and Asia.

US woman sentenced for ISIS funding of $ 150,000, mostly cryptocurrencies

Zoobia Shahnaz, of Long Island, New York, was sentenced Friday to 13 years in prison. She acknowledged sending more than $ 150,000 to the terrorist organization ISIS. Much of the funds were transferred to Bitcoin and other cryptocurrencies.

The US Department of Justice has announced that Shahnaz has sent over $ 150,000 to individuals and groups in Pakistan, China and Turkey who were affiliated with ISIS. She used stolen credit cards to buy around $ 62,000 in Bitcoin and other cryptocurrencies.

Shahnaz was also planning to move to Syria to join ISIS and was arrested at John F. Kennedy International Airport on July 31, 2017.