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Leaders from embattled political intelligence firm Cambridge Analytica may have lost much more than their reputation after the massive scandal involving 88 million Facebook Inc. (Nasdaq: FB) profiles.
Reuters reports that the firm was planning its own initial coin offering (ICO) before the data scandal, and it would have likely raised as much as $30 million.
Though it remains unclear if the firm is still planning an ICO, it would be difficult to get investors to pile money into a company facing so much negative press.
Here is a recap of the top cryptocurrency prices at 3:00 p.m. EDT (returns in last 24 hours).
- Bitcoin: $8,102.70, +1.05%
- Ethereum: $515.33, +1.06%
- Ripple: $0.685, +2.84%
- Bitcoin Cash: $880.42, +14.36%
- Litecoin: $137.62, +0.89%
Now that we know all of today's price movements, here's what has been moving these cryptocurrencies…
Cryptocurrency News Today
On Wednesday, the market capitalization of the global cryptocurrency sector hit $337.75 billion.
Bitcoin comprised 40.7% of the total cryptocurrency market, with a market cap of $137.62 billion.
The top performer in the space was Emercoin, which gained nearly 45% over the last 24 hours.
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Other top performers from the top 50 cryptocurrencies included Bitcoin Cash (up 14.26%), Monero (up 13%), Stellar (up 12.51%), Nano (up 10.65%), Dogecoin (up 9.98%), Steem (up 9.52%), Stratis (up 8.88%), Dash (up 8.46%), ICON (up 8.41%), and NEM (up 8.04%).
The worst performers from the top 50 cryptocurrencies included Verge (down -16.09%), Populous (down -3.65%), Binance Coin (down -3.17%), Ontology (down -1.42%), and Zilliqa (down -1.40%).
Bitcoin Recovers on Tax Day
The price of Bitcoin ticked slightly higher as markets digested life after tax season.
According to an April 5 report from analyst Thomas Lee, U.S. households likely owed $25 billion in cryptocurrency capital gain taxes.
To pay it off, Bitcoin holders may have been selling off some of their coins since the start of 2018.
But a lot of Bitcoin bulls believe the worst is behind us…
Big Cannabis Meets Big Crypto
Back in 2017, Money Morning Defense and Tech Specialist Michael Robinson predicted we'd see a "major convergence" of cryptocurrencies and the legal cannabis industry in 2018.
It turns out that Robinson was dead on, as usual.
As we reported yesterday, a major cannabis company revealed in an SEC filing that it could launch a cryptocurrency token.