Day: November 28, 2019

Bitcoin Corrects 45% from Highs

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After having been in a slumber for most of 2018 and recording steady declines, Bitcoin returned with a bang in the first half of this year. Throughout the first six months of the year, BTC enjoyed an incredible rally that raised visions of unprecedented highs, but this all soon came to a halt. Why the Sudden Fall? Now, the biggest cryptocurrency in the world is in the middle of a major slump, and since its high of $14,000 earlier this year, it has slumped by more than 50%. That being…

TROY TRADE Announces Token Sale on Binance Launchpad

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Binance, the world’s largest crypto exchange, revealed on Wednesday that the ninth initial exchange offering on the Binance Launchpad will be TROY TRADE,  a global brokerage platform. The upcoming launch was announced by Binance on 25th November, It marks another significant milestone and the apogee of the team’s many accomplishments achieved with the team’s hard work over the past years since the project’s inception. What is TROY TRADE Founded in 2018, Troy Trade is a global brokerage platform that specializes in cryptocurrency and asset management. Instead of opening a new…

US Fed Weighs Up Potential CBDC as Countermove Against China

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Where just a handful of years ago, the idea would have been immediately dismissed or even met with ridicule, the United States Federal Reserve is now taking the concept of an official dollar stablecoin seriously. Markets have heard more frequent guidance from the Fed on cryptocurrencies in recent years, and thanks to two curious U.S. representatives — French Hill and Bill Foster — this guidance now includes an enlightening response from Fed Chairman Jay Powell to their letter on a central bank digital currency, or CBDC. Evolving trends force regulators’…

KPMG Launches DLT Supply Chain Tool in Australia, China and Japan

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Big Four audit firm KPMG has officially launched a blockchain-based track and trace platform in Australia, China and Japan. Dubbed KPMG Origins, the tool is designed to increase transparency and traceability of processes in multiple industries such as agriculture, manufacturing and financial services, the firm announced on Nov. 28. The official launch of KPMG Origins in Australia, China and Japan comes after successful pilot implementations with clients in those countries, the press release notes. Trial participants include Cane Growers and SunRice Incorporating a number of emerging technologies like blockchain and…

Social Trading Platform eToro: Facebook Needs to Leave Stablecoins to Third Parties

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eToro, the crypto-oriented social trading and brokerage provider, recently published a position paper that stated that in order to get a cryptocurrency project launched, Facebook should focus on stablecoins that are distributed by regulated third parties instead of the company’s own digital currency. Facebook’s cryptocurrency project, Libra, has faced many obstacles since the announcement of its launch in June this year. Politicians and regulators across the United States, the United Kingdom and Europe have expressed concerns about the social media giant’s scale and influence, and its history with customer data…

Robinhood Withdraws Bank Charter Application Due to Regulatory Challenges

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Stock and cryptocurrency trading platform Robinhood has withdrawn its bank charter application with the Office of the Comptroller of the Currency. As CNBC reported on Nov. 27, Robinhood voluntarily decided to withdraw its application with the regulator due to the challenges the company could face in receiving a charter. A spokesperson said that “Robinhood will continue to focus on increasing participation in the financial system and challenging the industry to better serve everyone.” Robinhood applied for a bank charter with the United States Office of the Comptroller of the Currency…

Coinbase Secures Patent for System to Identify Non-Compliant Accounts

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Major American cryptocurrency exchange Coinbase has been awarded a patent for a system that identifies and flags non-compliant accounts. A filing with the United States Patent and Trademark Office on Nov. 19 details a system containing a scoring model that “determines a compliance score for each one of the accounts based on the respective factors associated with the respective account.” The system then compares the compliance score for each account to detect those accounts that fail compliance standards. Eliminating non-compliant accounts After a flagging unit identifies purportedly non-compliant accounts, the…

Kraken, One of Oldest Bitcoin Exchanges, Joins Silvergate Exchange Network

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Kraken, one of the largest and oldest Bitcoin (BTC) exchanges in the world, has joined the Silvergate Exchange Network (SEN). By joining SEN, the United States-based cryptocurrency exchange enables its clients to deposit and withdraw U.S. dollars from Silvergate accounts with no fees, the firm announced Nov. 27. According to the announcement, the depositing process will be different based on whether Kraken users have a Silvergate account. If they have an account at Silvergate, Kraken users will simply have to enable SEN funding on their Kraken account before using the…

XRP Discussed for First Time on BBC News

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From the very first days of television, the BBC has treated the UK and most of the world to all the latest breaking news stories as soon as they happen.  For some, this will not be a big deal, for those who know this is the crawl stage beginning, expect to see Ripple and XRP cropping up more frequently.  Point here is that Ripple and XRP are going mainstream, more and more people are beginning to realize the earth-shattering infrastructure Ripple is creating. Right now if you are making cross…