Day: October 18, 2019

Fidelity Investments Fully Rolls Out Crypto Custody Service, Exec Says

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American financial services company Fidelity Investments has fully launched its cryptocurrency custody service. Abigail Johnson, CEO of Fidelity Investments, revealed the development in an interview with the Financial Times published on Oct. 18. Johnson said that the company is ready to roll out its crypto custody business following a year-long preparation and accumulation of clients. A nascent, but promising business Last fall, Fidelity specifically indicated that it would provide an enterprise-grade crypto custody service to hedge funds, family offices and financial advisors. Johnson called that kind of service nascent and…

‘A Neat Idea That Will Never Happen’

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JPMorgan Chase CEO Jamie Dimon has said that Facebook’s not-yet-released Libra stablecoin is “a neat idea that will never happen.” Dimon delivered his comments during a speech at the Institute of International Finance conference on Friday, BNN Bloomberg reported on Oct. 18. Dimon said that the idea behind Libra is not unique and further turned the conversation to his company’s own stablecoin, JPM Coin, revealing that JPMorgan is spending over $11 billion on technological developments this year. JPM Coin vs. Libra Dimon thus cemented his previous statements about Facebook’s coin,…

Kik Messaging App Now Has New Owner, Will Continue Work on Kin Token

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MediaLab, a Santa Monica-based holding company, has finalized an agreement with Kik Interactive to acquire the Kik messaging platform. MediaLab sees the long-term potential of Kik and Kin token On Oct. 18, in a blog post to the millions of members of the Kik community, MediaLab announced that it has acquired the Kik messaging app and explained how the acquisition will impact the app’s future. MediaLab said that the company is committed to Kik for the long term and believes that “Kik’s best days remain ahead of it.” While not…

Libra Gets First Major Political Backer in US Congress

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Libra, the underfire planned cryptocurrency led by Facebook (NASDAQ:FB), has been dominating headlines in the world of crypto for all the wrong reasons. Regulators on both sides of the Atlantic have been staunchly opposed to the development of the coin, labeling it a threat to the economic and monetary sovereignty of nations. However, in a rare show of political support for Libra, Republican Senator for South Dakota Mike Rounds has written to Anchorage to endorse the project. Anchorage, a South Dakota-based trust fund, is one of the 21 founding chartered…

Either I’m Satoshi Nakamoto, or He Plagiarized Me

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Australian computer scientist and tech entrepreneur Craig Wright has asserted that Satoshi Nakamoto, the author of the Bitcoin (BTC) white paper, plagiarized him. Speaking at the CC London Investment in Blockchain and AI Forum 2019, which took place from Oct. 14 to Oct. 16, Wright claimed that he was about to reveal the ultimate proof of his authorship of the original Bitcoin code. This will come out, according to Wright, in the form of a thesis he wrote back in 2008. Wright said that Nakamoto lifted entire sections of the…

Dollar Deposits On Binance.US Now Have FDIC Insurance Coverage

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Binance.US — the United States-focused wing of major cryptocurrency exchange Binance — announced that its customer’s dollar deposits are eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage. FDIC insures deposits up to $250,000 In a blog post on Oct. 18, Binance.US announced that the exchange holds its U.S. dollar deposits in pooled custodial accounts at different banks that are insured by the FDIC, which is a United States government agency designed to protect consumers and the U.S. financial system. Binance.US explained: “The pooled custodial accounts are maintained in a…

G7 Says that Bitcoin Failed but Libra Poses Threat to Financial Stability

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G7 has just recently released a report addressing a long list of concerns it has with global stablecoins like Libra. French Finance Minister Bruno Le Maire said on Friday that Paris, Rome, and Berlin will join together in the effort of blocking Facebook’s new digital currency Libra in Europe. This is not the first time Le Maire is showing his hate towards cryptocurrencies. Last month, when he spoke about Libra, he said that this kind of technology, developed by the social media giant “causes serious concerns and therefore its operation…

Two More US Jurisdictions Launch Blockchain-Based Mobile Voting

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Two state counties in the United States are implementing blockchain-based mobile voting in the special elections in November. On Oct. 18, the nonprofit Tusk Philanthropies announced its partnership with Jackson and Umatilla Counties in Oregon to pilot the mobile elections platform Voatz. The pilot offers eligible voters to cast their votes using their smartphones, which are secured through blockchain and facial recognition technology. Pilot participants are mostly servicemembers overseas The pilot is only available to a small and select group of voters, allowing servicemembers overseas, their eligible dependents and other…

Price Analysis 18/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, LEO

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Bitcoin is at a critical crossroad. What are the different possibilities and important levels to watch out for? Let’s analyze the charts. The traditional financial system is heading to a disaster with about $17 trillion in global bonds returning negative-yields. “The whole concept of negative yields, of people paying for the privilege of lending money, is insane behavior to me,” said William Eigen, a veteran fund manager at JPMorgan Asset Management, in an interview with Bloomberg. Gemini crypto exchange co-founder Cameron Winklevoss believes that the staggering amount of negative-yield bonds…

German Minister Doubles Down on Statements Against Facebook’s Libra

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German Federal Minister of Finance Olaf Scholz has doubled down on his previous statement that policymakers should prevent the issuance of Facebook’s Libra stablecoin. At the International Monetary Fund and World Bank fall meeting on Friday, Scholz stressed that stablecoins could pose international risks, Reuters reported on Oct. 18. Scholz expressed his utter skepticism regarding the social media giant’s plans, stating: “We will carefully monitor the situation with all the means at our disposal. I am not in favour of the successful creation of such a world currency because that…