Property worth over Rs 38 Crore ($5.5 million) has been seized in the Indian state of Gujarati from promoters of the Bitconnect cryptocurrency scam. According to the Times of India, the property includes 280 Bitcoins which at the current prices are worth nearly $2.9 million. The seizure of the properties follows the arrest of Bitconnect promoter for the Asia region Rakesh Savani, over the weekend. Other properties which are believed to have been acquired using proceeds from the Bitconnect scam include land worth around Rs 18 crore ($2.6 million). Apart from seizing two properties worth Rs 15 crore and 3.23 crore belonging to the accused, the CID has also seized 280 Bitcoins. The price of one Bitcoin is approximately Rs 7 lakh, making the seizure of Bitcoins worth Rs 19.60 crore. ...

Ethereum’s value against bitcoin has seen its ratio drop to the lowest level since March 2017. As far back as 2016 there were months when ethereum’s ratio was higher, but for months now it has only been downhill. Ethereum’s value against bitcoin has dropped nearly 10x since the high of summer 2017 with it sidewaying since September, but now appears to have broken down. Why the second biggest crypto is attracting so much less value is not clear, but there are quite a few things to look forward to for bitcoin that may not necessarily apply to eth. Bakkt is to launch testing today with the bitcoin settled futures aimed at institutional investors who would be buying and selling in a CFTC regulated environment. ...

As previously reported by Ethereum World News, the massive and widespread news regarding the U.S. Commodities and Futures Trading Commission’s probe into popular ...