Day: October 23, 2019

Interests Fragmenting as Crypto Field Expands

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Over the past few months, Libra, Facebook’s prospective global digital currency, has stolen much of the spotlight across many areas of the cryptosphere. The field of blockchain lobbying was no exception: From Mark Zuckerberg smooth-talking powerful officials into supporting his global initiative to an expansion of the impressive roster of corporate lobbyists summoned to advocate for it, Libra has been dominating the recent coverage of government–crypto industry relationships.  Related: How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020 Meanwhile, these much-publicized efforts undertaken by the social media…

Libra Will Not Hit the Market Without US Approval, Says Zuckerberg

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The crypto sphere is known for being a disruptive force, but even this sector got a disruptive jolt of its own when Facebook (NASDAQ:FB) announced it would be launching its own cryptocurrency, Libra, in 2020. However, ever since the company announced the launch of its own stablecoin, it has come under fire from regulators from all over the world. Major Setback? As a matter of fact, even the United States President slammed the project and asked the company to instead apply for a banking license. It has now emerged that…

Security Numbering Association to Consider Standards for Digital Assets

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A global association of national numbering agencies has set up a new task force to assess the adoption of name standards for digital assets. All types of tokens to be considered The Association of National Numbering Agencies (ANNA) will examine the identification of digital assets such as tokens and cryptocurrencies, the organization announced on Oct. 23. ANNA oversees the work of global national numbering agencies — organizations responsible for issuing International Securities Identification Numbers (ISINs) —  and will now consider the role and scope of ISINs in regard to the…

CryptoCompare Exchange Review: OKEx Tops Derivatives Total Trading Volume for September

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In the report “Exchange Review for September 2019” recently released by CryptoCompare, a cryptocurrency market data provider, the Malta-based cryptocurrency exchange OKEx has earned the distinction of being the top cryptocurrency exchange in terms of derivatives monthly volume. The exchange known for its spot and derivatives trading while supporting hundreds of trading pairs registered a total derivatives volume of $90.34B in the previous month. The September 2019 figures for derivatives volume on OKEx is down by 14.9% when compared to the August 2019 figures, yet it emerged at the top…

Ripples into Waves | Ripple TV Ad, New DC Office, Bitcoin Manipulation…

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We can barely catch a breath with positive Ripple and XRP news breaking daily, yet the price remains the same, we’ll cover that a little below. Yesterday Ripple announced new offices in Washington DC, the political and regulatory hub of the U.S., they also hired four former financial regulators. Every federal regulator is looking at this space & trying to figure out how to regulate it, and having a DC presence is essential to smart and effective regulation. We’re focused on maintaining a dialogue with Washington regulators & policymakers and…

Bakkt Hits New All-Time High, With Over 450 Bitcoin Futures Contracts Traded

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Bitcoin (BTC) futures volumes on digital asset platform Bakkt have hit a new all-time high, with 452 BTC futures contracts traded at press time. Per historical data from Intercontinental Exchange (ICE) — the operator of Bakkt — today the platform has traded 441 Bitcoin futures contracts for November 2019, with the last recorded trading price settling at $7,400 per Bitcoin. 11 futures contracts for December have been sold, with the last recorded trading price at $7,407. Bakkt Bitcoin (USD) monthly futures contract data. Source: ICE Twitter account Bakkt Volume Bot,…

Moon Web Extension Allows Amazon Purchases with Bitcoin (BTC)

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Moon Technologies Inc., a fintech firm in the blockchain and cryptocurrency space has created an online payment system that enables customers to pay for their purchases on Amazon with bitcoin (BTC). The payment system, available as an extension for various Internet browsers including Google Chrome, Opera, and Brave, will facilitate cryptocurrency transactions on Amazon, per a report by International Business Times, October 22, 2019. Buy Amazon Products with Bitcoin The adoption of bitcoin (BTC) by mainstream businesses has consistently been a distant dream of crypto maximalists. However, since its inception,…

Google Quantum Breakthrough Could Improve Proof-of-Stake

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The application of Google’s quantum computing technology could purportedly help improve the technology which underpins proof-of-stake (PoS) cryptocurrencies. Quantum computing would create truly random numbers PoS is a type of consensus algorithm where block creators are randomly chosen with probability proportional to their stake, while the algorithm of proof-of-work-based digital currencies uses mining. However, the PoS variant has raised doubts regarding the integrity of random selections. Scott Aaronson, a quantum theoretician at the University of Texas at Austin, told Fortune on Oct. 23 that quantum computing could assuage PoS-skeptics doubts,…

Bitcoin Collapses below $7,500 after Brexit Breakthrough

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Bitcoin took a deep dive on Wednesday to test the levels last seen in May. The benchmark cryptocurrency plunged by up to circa $566.29, or 7.65 percent, in just two hours of trading. The move downside brought bitcoin down to a session low of $7,402.20. While the price later corrected, its upside remained capped by the support-turned-resistance level of $7,500, hinting an extended bearish action. Bitcoin dips below $7,500 in latest bearish continuation signal | Source: TradingView.com The story was the same across the other top cryptocurrencies. Ethereum, the second-largest…

Zuckerberg Hearings Before Congress on Libra

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Disclaimer: This article will be updating live for the duration of the Oct. 23 hearing. Please check in for the latest from the hearing. In Advance: In a much-anticipated meeting of politics and tech, Facebook CEO Mark Zuckerberg has finally made his way to United States regulators. He will be testifying before the House Financial Services Committee on Facebook’s Libra. The planned stablecoin has been the subject of much controversy since it’s June whitepaper. Days after, Chairwoman of the committee Maxine Waters called for a moratorium on Libra’s development. According…