Cryptocurrencies Market Dropped Today As Microsoft Acquired GitHub Code Repository

Mircosoft acquired GitHub code repository and the cryptocurrencies prices fell on Monday, today, as the crypto community is not yet sure how this acquisition will influence cryptocurrencies market. Bitcoin (BTC) fell by more than 2.9% after it had risen to $7,754. However, BTC has dropped below the 7,500 USD mark earlier and now is trading at $7,488.

Most virtual currencies collapsed in May after the U.S. Department of Justice opened a criminal investigation into the possibility that traders are manipulating the Bitcoin (BTC) market.

All major cryptocurrencies have also fallen today as Microsoft acquired GitHub

Besides Bitcoin (BTC), the Ethereum (ETH), the world’s second largest cryptocurrency by market cap, dropped to $587, shedding about 4.65% in the last 24 hours.

The third cryptocurrency by market cap, the Ripple (XRP) has fallen by 1.93% to 0.65, while the Litecoin (LTC) has reached the level of $119 after dropping by 5.30%.

The cryptocurrency community has not taken very well the news that the software giant Microsoft acquired GitHub, a well-known code repository that hosts many blockchain and cryptocurrencies projects.

In fact, on GitHub, the cryptocurrency community’s members can contribute to or gain a deeper insight into the code of the future projects. Now, as Microsoft has been announced that it acquired GitHub, many Twitter and Reddit users are concerned about the impact that a massive company, that is Microsoft, could have on the decentralized blockchain community on GitHub and beyond it.

A new cryptocurrency trading platform has been introduced in Europe

Besides the allegedly bad news that GitHub has been sold to Microsoft, Gibraltar, a British territory, has launched a regulated and licensed cryptocurrency trading platform called the Gibraltar Blockchain Exchange.

This is a subsidiary of the Gibraltar stock market, therefore, it would be one of the first cryptocurrency trading platforms to be regulated by a European Union stock market.

Gibraltar Blockchain Exchange cryptocurrency trading platform has started to operate with limited trading but the platform already has more than 300 retail accounts and even some institutional investors.

Jackson Bey

Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.

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