Crypto News | Ethereum and European Commission cooperating

Hello once again and welcome to our daily analysis of the crypto world. We’ll start today’s review with the news from the European Union. As we can read, Ethereum and European Commission are about to start cooperating. One of Ethereum’s start-ups – ConsenSys – will work with the European Commission on a project called EU Blockchain Observatory and Forum that was launched on Thursday. The goal of the European Union is to upgrade institutional knowledge on blockchain technology. They need Ethereum’s start-up for connection with the blockchain system and for blockchain development in general. The company develops software and was founded in 2014 by Joseph Lubin. The fact that Ethereum and European Commission are beginning to work together is definitely a good thing for cryptocurrencies because it represents a step towards their institutional recognition.

Besides this institutional news, we bring you the news on the movement of prices of some cryptocurrencies. While on Monday it was $1.41, the price of Ripple is now around $0.80. The coin’s market capitalization went down as well and now is about $31 billion, which is a fall of about $12.9 billion. Experts say that this fall in price might be the consequence of India’s finance minister’s announcement of eliminating digital tokens from payment purposes. Also, for the first time in more than 2 months the price of Bitcoin has fallen below $9,000. More precise, it’s the lowest price since late November 2017. As for Ethereum, its price is currently around $900.

In other news, we’d like to mention that Deutsche Bank posted its third consecutive annual loss in 2017. Some of the reasons for this situation might be the U.S. tax reform and a drop in investment bank revenue. These results are definitely worse than expected, and we’re about to see how the situation with Deutsche Bank will develop in future. According to their announcements, the bank will integrate Postbank retail bank unit with its own consumer bank, and that should be done on Friday.

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