Almost all of the top one hundred cryptocurrencies by market cap have seen significant losses within the space of just a few hours today, June 22. Total market capitalization of all cryptocurrencies has dropped to just under $268.4 billion, dropping a hefty $16 billion on the day.
South Korea’s Bithumb, one of the largest cryptocurrency exchanges in the world by trading volume, has halted deposit and withdrawal services after hackers stole 35 billion won ($31 million) from the platform.
Grassroots Economics, a non-profit organization, has revealed plans to expand its existing paper currency system into a blockchain-based network. The initiative will seek to launch a network of blockchain-based community currencies in Kenya, facilitating local and regional commerce and peer-to-peer collaboration.
Singer Akon has unveiled plans to create a city in Senegal with an economy based around his new cryptocurrency, AKoin. The city, Akon Crypto City, is described as a “real-life Wakanda,” and is set to be stationed within five minutes of the new international airport, close to the coast and a short drive from Dakar, the capital city of Senegal.
South Korean blockchain lab IncuBlock has signed a Memorandum of Understanding (MOU) with a Malaysian government advisory committee for blockchain tech development permissible under Sharia law.