Day: December 10, 2019

Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs

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There exists a long history of censorship resistant and privacy preserving technologies: Signal for messaging, Bittorrent for file-sharing, Tor for web browsing. Like bitcoin, these tools are not built for the mainstream. Most people would rather use faster, slicker, glossier centralized alternatives like Facebook Message, Dropbox, and Google Chrome. But for censored people and organizations, decentralized technologies have always provided an escape hatch. For as long as they have existed, these tools have brought with them a certain level of societal discomfort. This discomfort stems not from these platforms being…

Implosion: MATIC Erases Four-Week Rally in Just Two Days

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Sandeep Nailwal, chief operating officer and co-founder of MATIC Network, trashed allegations of manipulation and assured investors that his team had nothing to do with the price drop. He backed up his claim in a tweet noting that a majority of tokens are still in MATIC’s foundation address and that the unlocking of the 248 million tokens in question was done in a staggered manner “so there is no large sell pressure on [the] community.”  The unlocked tokens amounted to just 0.25 percent of the total supply, MATIC’s official twitter account…

Santander Redeems $20M Bond Using Ethereum Blockchain

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Spain’s multinational banking giant Banco Santander has just redeemed a $20 million bond using the Ethereum blockchain. The firm has performed an early repayment of the blockchain-based bond that was issued on Sept.10, 2019, which purportedly shows that the public Ethereum blockchain can be applied to securities issuance across the full lifecycle of a security. “Debt security can be managed through its full lifecycle on a blockchain” John Whelan, head of Digital Investment Banking at Santander, tweeted on Dec. 10: “We just performed an early redemption of our blockchain-based bond…

Nike Patents a System for Tokenizing Shoes on Ethereum’s Blockchain

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Footwear giant Nike patented shoes that are tokenized as a non-fungible token (NFT) on the Ethereum blockchain, dubbed CryptoKicks. The patent — dated Dec. 10 — describes a digital asset for footwear and ways to use it. One implementation of the technology described in the document is an Ethereum ERC721 or ERC1155 token used to authenticate and transact a physical shoe. Shoes on the blockchain The token would be “unlocked” with the purchase of a corresponding physical shoe by linking a 10-digit shoe identification code with the owner identification code.…

Tezos Rally Fizzles After 100% Gain — Likely Top for XTZ/BTC Appears

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Lately, Bitcoin (BTC) price has been trading in a range that favors bears and this has led traders to shift their focus to altcoins. Interestingly, there has also been some very volatile price action taking place over the past 24-hours, especially with Binance Initial Exchange Offerings (IEOs) like Matic Network (MATIC) which dropped 60% on Dec. 9. This drop led several other Binance IEO’s to dump and a handful of non-IEO altcoins also followed. However, one of the most active coins lately is Tezos (XTZ), and its recent 100% rally…

BNY Mellon and Credit Suisse Involved in Telegram’s $1.7B Sale: Report

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Two global financial giants, BNY Mellon and Credit Suisse, were reportedly involved in Telegram’s $1.7 billion Gram (GRAM) token sale in 2018. Telegram allegedly informed its investors that it was using BNY Mellon and Credit Suisse to move and store fiat currency raised in the GRAM sale, industry publication Coindesk reports, citing court filings released on Dec. 10. A Telegram employee reveals the details in a series of messages attached to the filings Shyam Parekh, a Telegram employee who is expected to give a deposition before the New York Southern…

Even 2019’s Best Performing Cryptocurrency is Getting Affected by the Bear Trend

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Bloomberg called Binance Coin the best-performing cryptocurrency of 2019 but it nevertheless remains vulnerable to traders’ intrinsic greed. The native token of one of the world’s largest crypto exchanges, Binance, has surged by more than 146 percent as of this time of writing. The gains are far larger than what the benchmark cryptocurrency Bitcoin has delivered so far – a dwarfed 90 percent. Binance Coin has suffered more than 65 percent in losses since June 2019 | Source: TradingView.com Nevertheless, Binance Coin, or BNB, has also registered a significant downside…