Day: October 1, 2019

Stablecoin Tether (USDT) Surpasses Bitcoin as most Traded Digital Currency

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The world’s most widely used cryptocurrency is Tether (USDT) and not Bitcoin (BTC), this according to a BNN Bloomberg report published October 1, 2019. Citing data from the cryptocurrency analytics website CoinMarketCap.com, the report claims that USDT is the highest weekly and monthly traded digital currency. USDT Trumps BTC Whilst Bitcoin continues to remain the poster boy of the rather young cryptocurrency industry, it is perhaps interesting that, in fact, it is not the most traded cryptocurrency on the planet. The honor of having the highest trading volume goes to…

Crypto Investors KR1 Thank Cosmos Network for $5.6M Profit in H1 2019

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European digital asset investment firm KR1 posted a $5.6 million profit for the half year ending on June 30, 2019, mainly due to the launch of Cosmos network. High returns from bull market in H1 2019 In an interim report published on Bloomberg on Sept. 30, KR1 CEO George McDonaugh emphasized that the firm’s portfolio surged in value in H1 2019 as Bitcoin (BTC) bounced off a low of $3,200 in late 2018 to over $13,000 in mid-2019. According to the report, the company’s profit was primarily driven by the…

Former Employees of JP Morgan, Intel and TrustToken Launch Stablecoin

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The Global Currency Organization (GCO) is launching a new U.S. dollar-backed stablecoin, dubbed the USD Digital (USDD). In an Oct. 1 press release shared with Cointelegraph, the GCO announced the launch of the USDD, a new stablecoin pegged to the U.S. dollar. The organization, which is a new project led by former employees of JPMorgan, Intel and TrustToken, said that it plans to make the stablecoin model available to a worldwide network of partners, to focus on the possibility for end users to move between cryptocurrencies and fiat. The San…

Top-20 Coins Report Mild Gains and Losses, BTC Moves Steadily Further From $8,000

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Tuesday, Oct. 1 — After signs of recovery in recent days, the leading crypto Bitcoin (BTC) has maintained its price above the $8,000 mark. However the top-20 coins chart on Coin360 is showing mixed signals today, with modest gains and losses. Cryptocurrency market daily overview. Source: Coin360 Bitcoin is up 2.23% over the last 24 hours, and is trading at around $8,364 at press time. Bitcoin has seen low volatility during the day, having dropped to as low as $8,191, while the intraday high reached $8,529. In terms of a…

Craig Wright Incoherently Rambles About Bitcoin Payments & Privacy

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Craig Wright continues to befuddle in the cryptocurrency space. The controversial computer scientist who maintains his identity as the one and only Satoshi Nakamoto recently spoke at the CoinGeek conference in Seoul on ‘The Power of Bitcoin SV Scaling’. The conference, which hosted a multitude of speakers, saw Wright headline and speculate on new inventions that could be built on top of his dramatic Bitcoin Cash fork now dubbed Satoshi’s Vision. Craig Wright, the promoter of government crypto. | Source: Twitter Unsurprisingly, the talk was difficult to follow. It was…

Fintech Startup Rapyd Raises $100M for Cloud-Based Payment Platform

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Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Per an Oct. 1 press release, Rapyd secured $100 million from investors such as Oak HC/FT, investment companies Tiger Global, Coatue, venture capital firms General Catalyst, Target Global, and Entrée Capital, and online payments processor Stripe. Building cloud-based tech payment platform Rapyd plans to allocate the raised money to the development of a unified cloud-based technology platform designed to enable enterprises to integrate fintech and payment capabilities into commerce…

CFTC Crackdown Targets Individual in $7 Million Bitcoin Scam

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The Commodity Futures Trading Commission (CFTC) charged an individual from Pennsylvania for making fraudulent claims of investing in Bitcoin on behalf of two investors. As per the press release, the accused never had possession of said Bitcoin, so it was never actually delivered to investors, September 30, 2019. Clamping Down on Fraud Cryptocurrency brings a list of problems to retail investors, the biggest of which is the investment and storage process. The number of cases where a retail investor has been swindled by a person promising to invest in cryptocurrency…

Ethereum-Compatible SKALE Network Raises $17.1M for Mainnet Launch

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The SKALE Network, decentralized Ethereum-compatible network, has completed a $17.1 million funding round for mainnet launch. Solid global backing Backed by the Liechtenstein’s Node Foundation and United States-based SKALE Labs, the SKALE Network now has over 40 investors in the U.S., European Union, Japan, Korea, Hong Kong and Singapore, according to a press release shared with Cointelegraph on Oct. 1. The new financing round featured major industry investors including Arrington XRP, ConsenSys Labs, Winklevoss Capital, Multicoin Capital, Blockchange, Hashed, HashKey and Recruit Holdings. $9.65 million raised for the network in…

Video Shows $10M Chinese Bitcoin Mining Farm in Flames

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During the early morning hours of September 30, a nine-minute video circulated on Twitter showing a large bitcoin mining farm burning down. Sources say the mining farm belonged to the company Innosilicon and roughly $10 million worth of mining rigs were destroyed. Also Read: Central Banks in Panic Mode – Extreme Tactics Like Helicopter Money Discussed $10 Million Dollars of Miners Up in Smoke On Monday, cryptocurrency advocates shared a video on Twitter which shows a large fire destroying a warehouse filled with bitcoin mining rigs. The first video was…

Facebook Will Create ‘Shadow Banking’ System, Major U.S. Banks Warn

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Facebook’s crypto project Libra will potentially create a “shadow banking” system, according to the banks at the Federal Advisory Council (FAC). U.S. banks fear Libra will reduce payment volumes After the United States Federal Reserve asked some of the nation’s largest banks about Libra, the banks expressed their negative stance towards the project, outlining the risks of potential decline in demand-deposit accounts and bank payment volumes, Bloomberg reports Sept. 30. Libra and similar stablecoin projects, where a digital coin is pegged to an underlying value consisting of one or more…