Sunday, July 28 — Most of the top 20 cryptocurrencies are reporting losses on the day by press time, at the same time that Bitcoin (BTC) fell below the $9,600 mark. Market visualization courtesy of Coin360 Bitcoin is currently down by 5.2% on the day, trading at $9,538 at press time, according to Coin360. Looking at its weekly chart, the coin is down by 12.68%. Bitcoin 7-day price chart. Source: Coin360 The Bank of China, one of the four biggest state-owned commercial banks in the country, recently released an infographic on its website illustrating what Bitcoin (BTC) is, how it …

Cryptocurrency exchange Bitfinex announced a LEO burn initiative in a Medium post published on June 14. Per the announcement, the initiative will see the exchange’s parent company iFinex funnel its gross revenue into purchasing LEO tokens at market prices in what the post refers to as the UNUS SED LEO burn mechanism. This new system will launch alongside the LEO Transparency Dashboard, which will reportedly provide real-time insights into all collected platform fees and LEO token burns. The company explains its reasoning: “We are doing this to remove the possibility of uncertainty from LEO holders, subsequently allowing our community to …

Major cryptocurrency exchange Bitfinex has unveiled its exchange utility token UNUS SED LEO, in a press release on May 17. The token will be useable for a variety of exchange-based activities and will begin trading on Bitfinex on May 20 against tether (USDT), bitcoin (BTC), ether (ETH), U.S. dollars and EOS pairs. The whitepaper for the project, published on May 10, describes LEO as “a utility token at the heart of the iFinex ecosystem.” iFinex is the parent company of Bitfinex. iFinex purports that it provides a stronger and more independent infrastructure, having migrated from Amazon Web Services to a …