Kraken Fires Back at New York Regulators and Ripple Takes the Lead as the Crypto Market adds $2…

The State of the Market: A recent report from the New York attorney general’s office (OAG) appears to have raised hackles over at Kraken headquarters as the exchange took to Twitter and blasted the OAG for unsubstantiated accusations of proprietary trading. The report concluded that Coinbase and BitFlyer USA trade against themselves 10 to 20 percent of the time as way of ensuring liquidity,counteracting thin volume and generating profit. In other news, Ripple continues to lead the cryptocurrency market after posting an impressive 36% gain over the past 48 hours. Currently the cryptocurrency market capitalization stands at $203.3 billion

1. The world’s largest institutions, together with Consensys, will be collaborating to develop Ethereum based platforms through a new firm called Komgo SA. Komgo SA has been backed by leading trading companies, banks and energy firms in its quest to digitize the global trade ecosystem through a blockchain based ‘open platform.’ Among the companies in the collaboration are — ABN AMRO, Citigroup, Shell, Rabobank, SGS, Societe Generate, ING, BNP Paribas. This partnership has kept many hopeful that it will yield groundbreaking innovations within a few months and for years to come. (Read More.)

2. Cryptocurrency exchange OKEx has rolled out its Partner Exchange Platform which aims at offering opportunities to investors to own digital asset exchange. The newly rolled out service is an exchange incubation program. Members of the OK Partner Exchange Program will be able to own their cryptocurrency exchanges. The service targets millions of investors in over 100 countries. OKEx development teams will assist investors to build their own exchanges. (Read More.)

3. According to Swissinfo.ch, 60 firms in Switzerland have used crypto-assets as capital. The use of crypto instead of francs is especially suitable for companies that raised a lot of their funds in ICOs. Other organizations have found a way to avoid banks that do not allow business accounts. Bravis, a Zurich-based crypto investment advisory firm is the only company to have used Bitcoin as capital in the region. Its co-founder, Simon Leuenberger, said that people should invest their crypto in their startups. Crypto salaries are also common among employees in blockchain companies in Switzerland. (Read More.)

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