Day: October 25, 2018

Ripple Reports Double Revenue From XRP Token Sales in Third Quarter of 2018

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American tech company Ripple reported that its revenue from XRP token sales doubled in the third quarter (Q3) compared to the second quarter (Q2) of 2018, according to the company’s quarterly report published Oct. 25. In the Q3 2018 XRP Markets Report, the company reveals that  it sold $163.33 million worth of XRP in the Q3, which is more than double the $73.53 million it sold in the previous quarter. The sales were distributed between Ripple and its subsidiary XRP II, LLC, which saw $65.27 million and $98.06 million sales…

Mastercard Wants to Patent a Fractional Reserve Cryptocurrency Bank

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Mastercard has gone all the way through the stages of the resistance proverb — “first they ignore you, then they laugh at you, then they fight you, then you win.” Cryptocurrencies & Mastercard: A Turbulent History Like most financial companies, Mastercard never expected the blockchain, and by the time they took note of it, they were unprepared for the changes it could and will bring. So their earliest reactions were, to say the least, not positive. A massive firm, however, they were at the same time studying the technology and looking…

Coinbase and Circle form JV to support adoption of fiat stablecoins

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Cryptocurrency companies Coinbase and Circle have formed a joint venture (JV), CENTRE Consortium, to boost the adoption of fiat stablecoins through a governance framework and network. The JV will focus on building interoperable protocols and standards required for fiat currency to work over the open internet. As part of the alliance, Coinbase has announced the availability of Circle’s USD Coin stablecoin (USDC) for its customers on Coinbase apps and Coinbase.com. It will be soon launched on Coinbase Pro too. USDC, which was recently launched, is an open, fungible and interoperable…

North Korea Allegedly Backed Two Cryptocurrency Scams This Year

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According to a new report from U.S.-based security firm Recorded Future published on Oct. 25, the North Korean government has sponsored at least two scam coins. In the report entitled “Shifting Patterns in Internet Use Reveal Adaptable and Innovative North Korean Ruling Elite,” Recorded Future’s research team Insikt Group mentions two alleged altcoin scams tied to North Korea. The first scam coin allegedly backed by North Korea is called Interstellar coin, and was found by Insikt Group in June 2018. The coin has reportedly been rebranded a number of times,…

Reserve Bank of Australia Official ‘Not Convinced’ of Need for Digital Dollar

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The Reserve Bank of Australia (RBA) assistant governor Michelle Bullock said that the bank has not been convinced of the need to create a digital Australian dollar, local business and finance news outlet The Australian Financial Review reported Oct. 24. Speaking at the Sibos 2018 banking and financial conference in Sydney, Bullock reportedly said that she is “interested to consider what frictions these technologies are designed to address [but] in many cases I just don’t see what the point is.” Among “touted” benefits digital currency could provide to central banks,…

HUOBI Group Sets up Shop in Africa, Middle East and South Asia

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Huobi Group revealed at the World Blockchain Summit in Dubai that the company is looking to expand its operations to the Middle Eastern, African and South Asian markets in a bid to provide services to its unbanked or underbanked residents. Co-founder Mohit Davar commented, “As Dubai is leading the blockchain effort in the region, it made sense for us to set up our regional head office here.” Huobi’s Dubai office will cover these three new areas to potentially replicate its ecosystem model, which was first established earlier this year as…

Coinbase Lawsuit at a Standstill as Judge Grants Motion to Dismiss

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The judge presiding over a class action lawsuit against Coinbase over allegations of insider trading has approved Coinbase’s motion to dismiss the suit. In March of 2018, Jeffrey Berk filed a class action lawsuit in the Northern District of California on behalf of himself and other investors against Coinbase. Specifically, the suit alleges that Coinbase had engaged in insider trading by alerting its own employees that Coinbase would fully support Bitcoin Cash at a later date, after publicly stating that they would not. The suit goes on to allege that…

The USDC Stablecoin is launching on Coinbase Pro – The Coinbase Blog

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Click to convert large quantities of USD into USDC and back. Then trade BTC and ETH for USDC. As of 10.30am PT on Thursday, October 25, Coinbase Pro is launching support for the USDC stablecoin. Here’s what that means: Starting immediately, users can deposit normal US dollars (USD) and click to convert them to USDC with no fee Also starting immediately, users can send and receive USDC into and out of their Coinbase Pro accounts After a minimum of 12 hours, once sufficient liquidity is established, trading will begin on the…

Bitcoin Price Intraday Analysis: BTC/USD Slips Intrarange

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The bitcoin-to-dollar exchange rate on Thursday dropped a little over 1 percent from its intraday high towards 6377-fiat. Currently, the pair is trading at 6412-fiat, up 0.54 percent from the latest low. On the US Dollar front, the DXY continues to act inverse against the bitcoin market. The correlation is too visible to evade notice. When DXY rises, bitcoin starts dropping. And when DXY starts dropping, bitcoin rises. In the past 24 hours, the DXY market has established a fresh two-month top near 96.60 after dropping to lows yesterday, while…

Crypto Software Firm Blockchain Launches Ledger-Powered Hardware Wallet

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Crypto software company Blockchain has launched a new hardware device that integrates with its existing online wallet, developed in partnership with crypto hardware security firm Ledger, according to a press release shared with Cointelegraph today, Oct. 25. A hardware crypto wallet is a form of so-called “cold storage,” which allows users to keep their crypto holdings and private keys offline in order to safeguard against theft via a remote attack. The new device, dubbed “Blockchain Lockbox,” is reportedly only compatible with the company’s online Blockchain Wallet, and has been designed…