Tokens Pegged to Nike’s Sneakers Fall Sharply after Daryl Morey’s Hong Kong Tweet

Tokens Pegged to Nike’s Sneakers Fall Sharply after Daryl Morey’s Hong Kong Tweet

No one has ever thought that the protests in Hong Kong would ever affect the price of cryptocurrencies trading in U.S. crypto exchanges. But apparently, there is still some impact; at least on Nike’s Air Jordan tokens (such as AJBT, AJCP, AJIB and more) listed on the crypto exchange 55.com. Daryl Morey, the general manager of the Houston Rockets of the National Basketball Association (NBA), conveyed his support to the pro-democracy Hong Kong protesters through…

Read More

New Partnership Launches Gold-Pegged Stablecoin DGLD on Bitcoin’s Blockchain

New Partnership Launches Gold-Pegged Stablecoin DGLD on Bitcoin’s Blockchain

A group of crypto and precious metal companies formed a consortium and launched a first-ever Gold-backed digital currency with the ticker DGLD on the Bitcoin blockchain. Europe’s largest crypto assets manager CoinShares, with the leading provider of cryptocurrency products including the world’s most popular crypto wallet, Blockchain Luxembourg S.A., and the Swiss gold trading firm MKS have joined hands to launch a gold-backed digital currency (stablecoin). The consortium has been developing the DGLD network for…

Read More

The OpenLibra Initiative: Creating Permissionless Version of Facebook Libra

The OpenLibra Initiative: Creating Permissionless Version of Facebook Libra

Lucas Geiger, the co-founder of blockchain startup called Wireline, announced that companies and organizations can create their own versions of crypto projects based on Facebook’s cryptocurrency Libra, called OpenLibra. The announcement was made at the Ethereum developer conference Devcon where Geiger claimed that OpenLibra would work as a stablecoin to the original Libra cryptocurrency. Currently, thirty different blockchain and cryptocurrency companies and nonprofit organizations have planned to develop their versions off of Facebook’s digital currency…

Read More

Global Currency Organization to Launch Revenue Sharing USD-Pegged Stablecoin USDD

Global Currency Organization to Launch Revenue Sharing USD-Pegged Stablecoin USDD

The Global Currency Organization (GCO) announced earlier this month that a US Dollar backed stablecoin, USD Digital (USDD), will be released soon. The US Dollars that back the digital currency are mainly stored in deposit-insurance accounts. The Global Currency Organization was started by former employees of TrustToken, Intel and JPMorgan. Since then the founders committed themselves to create the digital currency USDD to target institutional clients. They hope that with the new virtual coin, the…

Read More

Wells Fargo’s New Crypto Initiative: The Stablecoin Wells Fargo Digital Cash

Wells Fargo’s New Crypto Initiative: The Stablecoin Wells Fargo Digital Cash

One of America’s biggest banking companies, Wells Fargo, announced on Tuesday that it plans to enter the crypto world after all. Like JPMorgan, Wells Fargo is looking to create its own native digital coin that would function just like any other digital asset out there. Only in this case, the financial giant is looking to test the waters with its global network. Should all go as planned, this may extend to the general public. Wells…

Read More

German Finance Minister: We Must Reject Stablecoins Such As Facebook Libra

German Finance Minister: We Must Reject Stablecoins Such As Facebook Libra

European officials are beating their heads, trying to figure out the challenges and risks of letting cryptocurrencies be operational in the region. It is part of a wider debate that seeks to establish the pros and cons of digital transformation of European economies as major nations across the globe embrace digital currencies. However, the crypto world has now been hit by another storm when the Finance Minister of Germany, Olaf Scholz, categorically rejected the idea…

Read More

Two California Council Members Purchase Cannabis with Cryptocurrency

Two California Council Members Purchase Cannabis with Cryptocurrency

In what was dubbed the first of its kind purchase, two California council members were seen buying marijuana from a local store with cryptocurrency. The council members, Berkeley City’s Ben Bartlett and Emeryville City’s Dianne Martinez, were spotted in a local cannabis shop in Ohana on September 11th, where they reportedly used a stablecoin (still unknown which one) to purchase a cannabis product. Although the exact product they bought is yet to be identified, one…

Read More

Facebook Considers Dollar, Euro, Pound, Yen as Libra Backings; Yuan Excluded

Facebook Considers Dollar, Euro, Pound, Yen as Libra Backings; Yuan Excluded

Facebook is in new rounds of talks focused on discussing potential backings for its digital currency Libra. It was recently reported that Facebook has informed U.S. senators that it might not consider the Chinese Yuan as a potential contender for a backing of the cryptocurrency Libra. Facebook has submitted details of its discussions to a list of U.S. senators who were concerned about the possibility of Facebook adding the Chinese Yuan to its traditional currency…

Read More

Tether Announces its New Stablecoin to Support Chinese Yuan

Tether Announces its New Stablecoin to Support Chinese Yuan

The popular stablecoin issuer, Tether (USDT), has announced that it plans on launching a new stablecoin, CNH₮, backed by the offshore Chinese yuan. CNH₮ will run on top of the Ethereum blockchain as an ERC-20 token. In a blog post, Tether stated that CNH₮ represents a further expansion of the organization’s ability to embrace and facilitate the use of traditional currencies such as the USD and the Euro. The ERC-20 token will initially be available…

Read More

New York Regulator Greenlights Paxos to Launch Gold-Backed Cryptocurrency

New York Regulator Greenlights Paxos to Launch Gold-Backed Cryptocurrency

Linda A. Lacewell, Superintendent of Financial Services, confirmed that New York State Department of Financial Services (NYDFS) has allowed Paxos Trust Company LLC to offer a gold-backed virtual currency. This will be the first such virtual currency due to be authorized by NYDFS that will be backed by the gold and the dollar. Lacewell acknowledged her organization’s commitment to further innovation to ensure safety and soundness to New Yorkers and the rapidly developing financial services…

Read More
1 2 3 8