Controversial cryptocurrency startup Tether has just announced the launch of a new crypto asset. The latest product from the company that brought the market market US Dollar Tether (USDT) is a supposedly gold-backed digital token. Tether Gold reportedly backs the tokens with physical gold stored in a Swiss vault. However, given Tether’s lack of transparency over the years, it remains to be seen if anyone will even trust the gold-backed crypto. Tether Gold Launches on Crypto Networks Tron and Ethereum According to the project’s whitepaper, each Tether Gold (XAUt) token…
Day: January 23, 2020
Bitcoin Games Celebrates Lunar New Year 2020 With Introduction of Free Spins
FATF Holds Global Forum to Discuss Crypto Supervision The Financial Action Task Force (FATF) and over 50 delegations involved in crypto supervision recently gathered to discuss how to regulate crypto assets and related service providers. While examining three key areas, they stressed the importance of international cooperation, citing … read more. Monopoly Is a Tiny Darknet Market With Big Aspirations There’s a certain irony in the smallest market on the darknet being named Monopoly. With less than 150 listings, the monero-friendly Monopoly Market is anything but. What this tiny darknet…
Will Mass Adoption Be More PayPal or Pornhub?
There is an ongoing debate in the crypto community about where mainstream adoption. One point of view is that it will be the slow steady acceptance of digital assets. On that front, Bakkt president Adam White said in Davos yesterday that the company is on track to launch their app this year. Another perspective is that the main use case of crypto is to enable otherwise censored transactions. Lending credence to this perspective is the case of Pornhub, which saw payouts to its more than 100,000 performers blocked unexpectedly by…
‘Fluffypony’ Weighs In on CBDCs at Davos 2020
Riccardo Spagni, better known as “Fluffypony,” discusses privacy and whether or not central bank digital currencies (CBDCs) are just a fleeting thing. The Monero community leader speaks with CoinDesk’s Leigh Cuen in Davos, Switzerland. “There’s less hype, but more talk,” said Spagni. “It’s kind of like one of those things where people say they are building a fintech product that has AI and blockchain.” Spagni sees blockchain as moving into an offensive role now that privacy is gaining a more important role in computing. “Companies like Apple are mainstreaming privacy,”…
‘Fluffypony’ Weighs In on CBDC Trend at Davos 2020
Riccardo Spagni, better known as “Fluffypony,” discusses privacy and whether or not central bank digital currencies (CBDCs) are just a fleeting thing. The Monero community leader speaks with CoinDesk’s Leigh Cuen in Davos, Switzerland. “There’s less hype, but more talk,” said Spagni. “It’s kind of like one of those things where people say they are building a fintech product that has AI and blockchain.” Spagni sees blockchain as moving into an offensive role now that privacy is gaining a more important role in computing. “Companies like Apple are mainstreaming privacy,”…
Gemini Completes Second Level of Cybersecurity Compliance Exam
The Gemini crypto exchange has completed a new examination to ensure its security system controls operate effectively. Gemini announced Thursday that it had completed an independent SOC 2 Type 2 examination conducted by consulting firm Deloitte, a year after it completed an SOC 2 Type 1 examination. Where the previous examination evaluated Gemini’s design and system control implementation, the Type 2 exam looks at operations across a period of time. “We believe this kind of assurance, in addition to other safeguards we have implemented, such as digital asset insurance, helps…
Goldbug Peter Schiff Says Bitcoin Owners Will Lose Massively in the End
Euro Pacific Capital CEO, American stockbroker and unwavering bitcoin critic, Peter Schiff, has come out again to bash the number one cryptocurrency, bitcoin. After admitting to making a mistake regarding his bitcoin wallet, the goldbug still believes that the pioneer digital coin has no store of value and current BTC hodlers will suffer huge losses. Peter Schiff Bashes Bitcoin, Despite Making Elementary Mistake According to a recent tweet on January 23, 2020, by die-hard bitcoin basher, Peter Schiff, current bitcoin owners will end up losing all their assets in the…
Facebook’s Libra Pushed World to Reconsider USD as Global Reserve Currency: WEF
Major global economists credit Facebook’s Libra with pushing the world to start reconsidering the United States dollar as anchor currency. At a Jan. 23 panel at the annual World Economic Forum (WEF) in Davos, officials and financial experts discussed one of the most important mechanisms in the global financing system — the U.S. dollar, which has become the world’s reserve currency. Libra evoked a future digital currency Called “Challenging the Dominance of the Dollar,” the panel focused on factors that make the U.S. dollar the world’s dominant payment system and…
Alleged BTC-e Operator Will Be Extradited to France After Greek Supreme Court Ruling
Alexander Vinnik, the alleged operator of the BTC-e exchange, will be extradited to France following a ruling by Greece’s supreme court. Vinnik will be sent to France on allegations of money laundering following a ruling from Greece’s Council of State, the country’s supreme administrative court, reported Greek news outlet Ekathimerini on Thursday. He was arrested in July 2017 by Greek authorities after Russia, the U.S. and France all issued international arrest warrants on charges of laundering at least $4 billion through BTC-e, which he allegedly set up. Vinnik has maintained…
Bank of England is Planing to Adopt Digital Currency
It seems like the banking industry is slowly adopting cryptocurrencies. A group of central banks has come together to assess the potential pitfalls of relying on digital currency, and one of them is the Bank of England. Central Banks Considering Idea of a Central Bank Digital Currency The Bank of England is examining how it can adopt Bitcoin, and a delegation will be meeting other officials from various banks to review this. They will be meeting the European Central Bank, Swiss National Bank, Bank of International Settlements, the Bank of…