Report: Stablecoins Pegged to USD Set All-Time High Record for Trading Volume

Report: Stablecoins Pegged to USD Set All-Time High Record for Trading Volume

In its latest report published on May 21, cryptocurrency research firm Diar revealed that the market capitalization for USD stablecoins hit a all-time high. According to the report, stablecoins tied to the USD hit a market cap of $4.3 billion, surpassing all previous records according to Diar’s data. The report also reveals an uptick of nearly 130% in trading volume between April and May. The trading volume hit $3.6 billion in May as compared to…

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Craig Wright: Copyright Registration Proves I’m Bitcoin’s Satoshi; Copyright Office: Nope!

Craig Wright: Copyright Registration Proves I’m Bitcoin’s Satoshi; Copyright Office: Nope!

The crypto world was thrown into somewhat of a pandemonium earlier this week after a spokesman for Craig Wright stated categorically that the recent registration issued by the U.S. Copyright Office allegedly recognizes Wright as the author of the much-lauded Bitcoin Whitepaper and code. It will be recalled that the Australian computer scientist has declared himself the much-sought-after Bitcoin inventor Satoshi Nakamoto on several occasions. Wright is known to seize every opportunity to attempt convincing…

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Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum Price Technical Analysis (May 23): Correction to Support Level Is Expected

Ethereum (ETH) is currently trading at around $237. The virtual coin was in an uptrend until it hit the resistance of $271.66; there is a formation of a hanging man pattern at the resistance level. It is a bearish pattern indicating correction. Support level is at $232.66. Looking at the chart, we see a formation of ascending triangle, which is a bullish signal indicating that the overall trend is yet bullish. Dow Theory According to…

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SEC Ends a $30M Cryptocurrency Ponzi Scheme Supposedly Backed by Diamonds

SEC Ends a $30M Cryptocurrency Ponzi Scheme Supposedly Backed by Diamonds

The U.S. Securities and Exchange Commission (SEC) has announced on May 21 that it has secured a court order from U.S. District Court for the Southern District of Florida to halt an ongoing diamond-backed crypto Ponzi scheme which has targeted more than 300 investors in the U.S. and Canada, and estimated to be worth around $30 million. South Florida-based Jose Angel Aman is reportedly the mastermind behind the cryptocurrency scheme and claimed to allegedly use…

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The Ethereum Foundation Allocates $30 Million for Mainnet Development

The Ethereum Foundation Allocates $30 Million for Mainnet Development

The Ethereum Foundation announced its plans to spend $30 million on the development of their network in a 3-fold plan. The announcement came in a blog post titled ‘Ethereum Foundation Spring 2019 Update’ in which the foundation laid out their plans for the coming year. In the announcement, the Ethereum Foundation revealed that out of the $30 million, $19 million would be allocated towards building the “Ethereum of tomorrow” over the course of the next…

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Commentary: Rapper TI Sold Unregistered Securities in the Form of FLiK Tokens

Commentary: Rapper TI Sold Unregistered Securities in the Form of FLiK Tokens

Stephen Palley, a lawyer at Anderson Kill, has unleashed a series of tweets in his Twitter account about the FLiK token case in which the famous rapper TI found himself sued for $5 million. In his commentary, Palley states that the court relates to the token as a security rather than a utility token. FLiK is an end to end entertainment platform that allows entertainment projects to be funded. FLiK tokens can be used to…

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Russian Lawmaker Warns Governments of Crypto Threats and Advises to Ban Cryptocurrencies

Russian Lawmaker Warns Governments of Crypto Threats and Advises to Ban Cryptocurrencies

A Russian lawmaker with the Communist Party in the State of Duma has come up to advise governments of the world to steer clear and to never adopt Bitcoin and other cryptocurrencies as such digital assets could lead to their downfall. Nikolay Arefyev (who also doubles as the Deputy Chairman of Duma’s committee in charge of economic policy, innovative development, industry, and entrepreneurship), warned governments sternly about the potential threat that Bitcoin and other cryptocurrencies…

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IRS Commissioner Rettig: “Priority of the IRS to Issue Guidance” on Crypto Soon

IRS Commissioner Rettig: “Priority of the IRS to Issue Guidance” on Crypto Soon

The U.S. Internal Revenue Service is getting ready to publish its first guidance on cryptocurrency taxation subjects since 2014, the agency’s commissioner Charles P. Rettig told a lawmaker on Monday. Commissioner Charles Rettig of the Internal Revenue Services has responded to an April 11 letter from Congressman Tom Emmer and 20 other congressional representatives (the Congressional Blockchain Caucus), which have requested that the agency would provide a series of public clarifications regarding clearer tax guidelines…

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Venezuela to Rely Further on Petro and Russia’s Ruble to Circumvent Sanctions

Venezuela to Rely Further on Petro and Russia’s Ruble to Circumvent Sanctions

Venezuela is in talks with Russia to use the Russian Ruble in mutual trade settlements, abandoning the US dollar for country-to-country transactions. The news story was reported by both Russian and Venezuelan news media outlets. The talks follow sanctions on Venezuela imposed by the United States and are seen as Venezuela trying to bypass those sanctions. Furthermore, El Petro, Venezuela’s oil-pegged cryptocurrency will become another medium of exchange for the country. The Petro is pegged…

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Ripple CEO Brad Galringhouse: Not Against Banks, But with Them

Ripple CEO Brad Galringhouse: Not Against Banks, But with Them

Ripple’s CEO Brad Garlinghouse has had quite a lot to say in the latest episode of Recode Decode with Kara Swisher, especially about the progress in the way the world views cryptocurrency and the need for banks to support this new digital phenomenon. After a broad array of careers spanning across industries and domains, including @Home Network, SBC, Yahoo and Hightail among others, Garlinghouse now functions as the CEO of one of the most prominent…

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