Bitcoin Daily: Binance Launches $10M Bounty Fund, BIS Warns Central Banks About Cryptos

Bitcoin cash is on the move, Coindesk reported. The cryptocurrency may soon reach the $1,200 level in the near future after reaching $938 – a four-week low – on Friday (March 9). The price of bitcoin cash was at $1,057.32 at 8:28 p.m., according to Coindesk.

In cryptocurrency exchange news, Binance said it will offer a $250,000 reward for tips leading to the arrest of those behind a reported attack on its exchange last week, TheNextWeb reported. The company is also creating a $10 million fund for future bounty awards.

And endowments and foundations are not crazy about cryptos yet, but that doesn’t mean they won’t be interested in investing in digital currency in the future, Bloomberg reported. While 96 percent of top officers at endowments and foundations aren’t investing in cryptos and don’t plan on doing so, about 20 percent of NEPC’s clients said they have begun to look at those types of assets.

In Austria, the country’s largest bitcoin broker thinks the cryptocurrency should be regulated in a way similar to gold. “Regulation provides us with more legitimacy,” Bitpanda co-CEO Eric Demuth told Bloomberg. “We’ve wanted to be regulated, but so far have been told that we cannot be.”

In other news, the Bank for International Settlements (BIS) is warning central banks about launching their own digital currencies, Reuters reported. “There are risks we do not fully understand at this point,” Jacqueline Loh, chair of the BIS markets committee, said in a report. Members of the BIS include the U.S. Federal Reserve and European Central Bank.

In television news, John Oliver explained bitcoin and crypto in a 25-minute segment on “Last Week Tonight,” PC Magazine reported. Oliver gave an introduction to bitcoin and the blockchain, along with a discussion on initial coin offerings (ICOs). In the end, Oliver, along with guest Keegan-Michael Key, suggested that investors should only invest in crypto with money that they’re willing to lose.