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Cryptocurrency Daily Roundup - May 13


Here is a summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.

Bitcoin At The Highest Level In 9 Months Crossing $7500

Bitcoin's dream run to better heights continued at the weekend and reached its highest level since August 2018 - $7516 - on Sunday. It was also the top price of the year.The quick rise began late Friday when Bitcoin was trading at $6300, and within 11 hours the most popular cryptocurrency shot up by more than $1200, or 20 percent. Although BTC pulled back briefly, it started climbing back late Sunday.

As of this writing, the virtual currency is trading up 14.67 percent or $1001.20 at $7739.54 on Coinbase.

Binance To Resume Deposits, Withdrawals Tuesday

Hacked cryptocurrency exchange Binance has announced that its deposit and withdrawal services will be resumed on Tuesday. Binance CEO Changpeng Zhao said in a brief update Monday, ""In the past few days, we have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected."

Crescent Crypto, USCF File For Cryptocurrency ETF With SEC

Crescent Crypto Asset Management LLC, in partnership with United States Commodity Funds LLC or USCF, filed for a cryptocurrency exchange traded fund or ETF with the U. S. Securities and Exchange Commission. The USCF Crescent Crypto Index Fund intends to issue shares that trade on the NYSE Arca stock exchange under the ticker "XBET". It will include a portfolio of both bitcoin and ether cryptocurrencies.

Curv To Offer Up To $50 Mln Munich Re Insurance For Digital Assets

Cloud-based crypto-wallet Curv announced a cryptocurrency insurance partnership with Germany-based reinsurance firm Munich Re to cover up to $50 million of digital assets for customers of its institutional wallet service. New York-based startup Curv uses a cryptographic mechanism based on its proprietary multi-party computation (MPC) protocols that eliminates the private key altogether. Since there is no private key involved in the signing mechanism, there is no private key to insure.

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