Day: August 5, 2019

Web3 Foundation Director Resigns to Pursue DAO Projects

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Web3 Foundation (W3F) director Ryan Zurrer has announced that he is stepping down from his role at the decentralized web-focused nonprofit to pursue his interest in investments and decentralized autonomous organizations (DAOs). Zurrer expounded on his departure in a series of Twitter posts on Aug. 5. Zurrer explained that he will be gradually removing himself from the organization, partially in light of its current success. In June, W3F managed the token sale of blockchain interoperability protocol Polkadot (DOT). Zurrer said: “With the success of the DOTs sale, the success of…

Leicester City FC Renews Bitcoin Advertising Deal With EToro

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UK’s Premier League football club Leicester City FC renewed its year-old Bitcoin advertising deal with multi-asset investment platform eToro. The extension of the deal is expected to help eToro gain exposure through in-game advertising and the opportunity to drive awareness about cryptocurrencies through Foxes’ social channels. eToro continues to be an Official Club Partner. The deal includes access to matchday LED boards, player access, tickets and digital rights. The agreement was originally signed at the start of the 2018/19 campaign in August 2018. It was the Premier League’s first deal…

Walmart Crypto Project More Agreeable to Lawmakers Than Libra

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A senior policy analyst at investment banking corporation Cowen, Jaret Seiberg, said that Walmart’s proposed digital coin should not face as much regulatory pushback as Libra, Facebook’s proposed virtual currency. As Bloomberg reports on Aug. 5, Seiberg also added that Walmart’s crypto may have a demographic appeal to Democratic legislators who are keen to find an alternative financial infrastructure for people who do not regularly use banks. According to Seiberg, Libra and Walmart’s crypto proposal differ in scale. Seiberg comments that Facebook has global intentions which do not appear to…

Co-Founder Sues Israeli Blockchain Firm for Breach of Contract

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Co-founders of Israeli blockchain firm Orbs are being sued by former partner Elad Arad following the dissolution of his shares in a failed joint venture, Cointree Capital. According to Israeli business media Globes, Arad is suing partners and brothers Uriel and Daniel Peled, Orbs, Cointree Management Microverse, Hexa Labs, and Hexa Solutions following a failed 18-month mediation in a Tel Aviv court. Arad claims the brothers committed “conspiracy, deceit and serious fraud, as well as unlawful enrichment.” The official report accuses the brothers of breach of fiduciary duty, oppression of a…

Bittrex Crypto Exchange Transitions to ERC-20 Implementation of Tether

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American cryptocurrency exchange Bittrex has completed switching Tether (USDT) from the OMNI-based implementation of the stablecoin to the ERC-20 standard on the Ethereum network.  Bittrex announced that USDT deposits and withdrawals are now open in a tweet on Aug. 5. The exchange had temporarily suspended USDT deposits and withdrawals while making the switch.   “Quicker, cheaper, and more inter-operable transfers” Bittrex initially announced that it would be switching protocols on July 25. With the move, Bittrex is looking to provide its users with faster, cheaper and more inter-operable transfers of USDT.…

US Federal Reserve Launching Payment System, Crypto Bulls Nonplussed

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The United States Federal Reserve Board is planning to release a real-time payments and settlements service in order to boost the payments infrastructure in the country. A press release published on Aug. 5 reads that the Board of Governors of the Federal Reserve System has requested that Federal Reserve Banks develop a new interbank real-time settlement service to support faster payments in the U.S. The payment system is called FedNow and will purportedly launch in 2023 or 2024. By launching FedNow, the Fed aims to modernize the country’s payment system…

Bitcoin Price Resurgence Is a ‘Self-Fulfilling Prophecy’: Analyst

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The bitcoin price is surging, and one analysts says the spike is a “self-fulfilling prophecy” – which isn’t necessarily a bad thing. | Source: Shutterstock When the bitcoin price smashed through $11,000 overnight and set its sights firmly on the $12,000 mark, analysts almost uniformly pointed to China’s stunning decision to defy the Trump administration and devalue the yuan as the catalyst. However, cryptocurrency bulls who proclaimed that bitcoin had demonstrably proven its worth as a safe-haven asset might have spoken too soon. China’s Shock Yuan Devaluation Bolstered Bitcoin –…

Bitcoin Price Resurgence Is a ‘Self-Fulfilling Prophecy’: Analyst

boss

The bitcoin price is surging, and one analysts says the spike is a “self-fulfilling prophecy” – which isn’t necessarily a bad thing. | Source: Shutterstock When the bitcoin price smashed through $11,000 overnight and set its sights firmly on the $12,000 mark, analysts almost uniformly pointed to China’s stunning decision to defy the Trump administration and devalue the yuan as the catalyst. However, cryptocurrency bulls who proclaimed that bitcoin had demonstrably proven its worth as a safe-haven asset might have spoken too soon. China’s Shock Yuan Devaluation Bolstered Bitcoin –…

Coinbase Exploring Eight New Assets in Bid to Expand Market Access

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Major crypto platform Coinbase announced today that it is exploring support for eight new digital assets. The expansion is part of a larger agenda by the exchange to give customers access to 90% of the aggregate market capitalization of all digital assets. Coinbase announced its plans in an official blog post on Aug. 5. As part of the announcement, Coinbase noted that they may roll out public-facing APIs and show other indications of engineering work during the exploratory phase. Per the announcement, the exchange is currently exploring support for Algorand…

Price Analysis 05/08: BTC, ETH, XRP, LTC, BCH, BNB, EOS, BSV, XLM, XMR

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Bitcoin has resumed its uptrend. Can it break out of the recent highs? Let’s analyze the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. The trade war between China and the United States intensified as China allowed its currency, the yuan, to fall to its lowest level since 2008. This is seen…