Tuesday, August 3 Crypto News Highlights

The price of Bitcoin recedes slightly to around $38,500 as it fell by over 2% in the past 24 hours.

Ethereum is also down for the day, falling by 3.3% over the past 24 hours. The general crypto market is mixed, with most popular coins trading at a loss.

Market cap is $1.57 trillion, down by nearly 2% as Bitcoin maintained a market dominance of over 46%, with 18.6 million bitcoins in circulation.

Meanwhile HSBC UK is blocking customers from accessing Binance exchange.

Following the FCA’s infamous ban of Binance, HSBC is effecting the ban in earnest, restricting its UK customers from making payments to the banned crypto exchange.

HSBC also released a statement detailing that they’re making customers aware of the situation.

While HSBC won’t comment on the security of crypto exchanges, the bank is following up on potential developments and will update as soon as there is a change.

This activity follows the footsteps of Barclays UK and several other British banks that have complied with the FCA directive.

Couple lose $7 million worth of Ethereum in tragic house fire

A couple based in Washington DC lost access to over 3,000ETH due to a fire incident that could see their lifelong crypto assets incinerated.

Yuki and Ate Williams desperately tried to recover the key to their investment to no avail as the fire razed their home to the ground.

According to the couple, the house contained a JSON data file that holds the decryption key to the $7 million worth of cryptocurrency.

They acquired the 3,000 ETH for $932 at a pre-sale in 2014, and the cryptocurrency has surged to over millions of dollars.

However, concerned Samaritans have since started a fundraiser to get the family back on their feet.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.