Payments Giant Visa Acquires Fintech Firm Plaid for $5.3 Billion

Payments behemoth Visa acquired financial technology firm Plaid for $5.3 billion, according to a press release published on Jan. 13. Per the release, Plaid has developed a network that allows users to easily connect their financial accounts to the apps they use to manage their financial lives. The firm’s products reportedly allow for convenient sharing of financial information with thousands of apps and services by allowing users to link various accounts.  The announcement states that 75% of the world’s internet-enabled consumers used a fintech application for moving funds. As such,…

Blockchain Platform EOS Raised $4 Billion and Has Dropped Over 30% Since

In the period between June 2017 and 2018, Block.one raised $4 billion via the sales of its native cryptocurrency, EOS. More than a year later, the token associated with the Cayman Islands-based startup has lost over 30 percent of its value due to massive price declines and a lack of authentic users. The EOS-to-dollar exchange rate currently sits at approx $2.79 after peaking at $23.02 in April 2018. Like in the case of every other cryptocurrency, EOS too became a victim of massive dumping that occurred during the 2018’s so-called…

$100 Billion in Bitcoin Hasn’t Moved in Over 1 Year, And Its Bullish

The cumulative sum in dormant bitcoin addresses surpassed 12.58 million BTC, worth just about $100 billion at current price. It indicates most investors are holding strong despite volatility in the market. It also demonstrates that amidst one of the steepest falls in recent history from $13,900 to $6,410, the majority of investors were holding onto bitcoin, as pointed out by a researcher known as Rhythm. Its an optimistic macro indicator for bitcoin In the short-term, the price movement of bitcoin is likely to be swayed by trends in the margin…

Telegram Refusing to Tell SEC How It Spent $1.7 Billion of ICO Cash

The United States Securities and Exchange Commission (SEC) has filed a court order on Jan. 2 to compel the messaging platform Telegram into releasing details of how the funds raised in its initial coin offering, or ICO, have been spent. The SEC claims that the requested records are highly relevant to its ongoing case against Telegram, alleging that the $1.7 billion raised selling Gram tokens constituted an unregistered securities sale. Request for information The filing requests both testimony and documentation from Telegram relating to the amounts, sources and use of…

XRP Price Stable as Ripple Unlocks 1 Billion Tokens From Escrow Wallet

Ripple, the blockchain payment network notionally tied to altcoin XRP, has begun 2020 by releasing funds from its escrow worth $192 million.  Data scanned from the XRP blockchain by monitoring resource Whale Alert caught the latest consignment of XRP tokens, which forms one installment of a pre-planned release schedule Ripple began in 2017.  Ripple continues 55-month escrow schedule In a blog post at the time, officials explained that they would lock up 55 billion XRP, releasing funds each month over 55 months.  The reason, they said, was to incentivize investors…

Ripple Worth $10 Billion With $200 Mln Investment, Volume to Grow 600%

Ripple ends the year with yet another major announcement after raising $200 million in series C investment, pushing company valuation over $10 billion. Series C investment rounds mean the company has already proved itself and the products it offers, focusing on scaling the company quickly and successfully. Investors involved in a Series C investment are likely big players expecting to at least double their money, ‘a sure thing’ for want of a better term. Today, Ripple is thrilled to announce $200 million in Series C funding—an investment that marks a…

XRP Not Likely a Challenge to Bitcoin, Despite Ripple’s $10 Billion Valuation

Blockchain start-up and XRP proponent Ripple says it’s raised a $200 million investment round, lifting its valuation to $10 billion. Despite this move, critics worry whether Ripple and its XRP digital currency have a future in the space when up against CBDCs, stable coins, and XRP’s biggest competitor, Bitcoin. Ripple Hopes Funding Refutes XRP Skeptics The $200 million Series C funding round, which was led by global investment firm Tetragon, could help validate Ripple’s claim that more banks and money transmitters will embrace XRP for international transactions. Further, the funding…

XRP Not Likely a Challenge to Bitcoin, Despite Ripple’s $10 Billion Valuation

Blockchain start-up and XRP proponent Ripple says it’s raised a $200 million investment round, lifting its valuation to $10 billion. Despite this move, critics worry whether Ripple and its XRP digital currency have a future in the space when up against CBDCs, stable coins, and XRP’s biggest competitor, Bitcoin. Ripple Hopes Funding Refutes XRP Skeptics The $200 million Series C funding round, which was led by global investment firm Tetragon, could help validate Ripple’s claim that more banks and money transmitters will embrace XRP for international transactions. Further, the funding…

Four Big Acquisitions by $4 Billion Crypto Giant Shows Market Isn’t That Bad Afterall

Crypto markets are in the doldrums at the moment, just as they were this time last year. A $10 billion dump on the week looks bad in the short term but things may not be that negative overall. One of the largest players in the industry has been on a shopping spree this year. Crypto Giant Goes Shopping Bear markets will shake out the weak hands leaving only the strongest left. 2018 was a clear example of that and the latter half of this year is turning into a case…

Cardano’s Shelley Testnet Starts Off With More Than 5 Billion Staked ADA

Within 24 hours of Cardano’s testnet going live, Cardano (ADA) holders have staked more than 5 billion ADA coins, worth around $195 million. On Dec. 15, IOHK took to Twitter to report that more than 240 staking pools have gone online since Shelley went live, with about 120 staking pools during the first day of operation alone. According to Shelley’s roadmap, IOHK is well on its way to reaching its target of 1,000 staking pools. They tweeted: “Our incredible #CardanoCommunity have put in a remarkable effort this weekend, with over…