Facebook Libra & Calibra Aim to Take Over the Economy’s Heart via Crypto

Facebook Libra & Calibra Aim to Take Over the Economy’s Heart via Crypto

After nearly a year of speculation, Facebook finally unveiled its secret blockchain project. On June 18, Facebook released the whitepaper for its long-awaited cryptocurrency and blockchain project, Libra. The new cryptocurrency will be governed by a not-for-profit, Switzerland-based consortium called the “Libra Association.” Mastercard, PayPal, Visa, Stripe, eBay, Coinbase, Andreessen Horowitz and Uber are being hailed as the founding members of the Libra Association. However, the whitepaper reveals that Facebook plans to expand the association…

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Facebook Globalcoin Update: The Stablecoin to Finally Hit the Markets Later this Month

Facebook Globalcoin Update: The Stablecoin to Finally Hit the Markets Later this Month

The wait might be finally over! Okay, not today. Not tomorrow either. But, sometime in the near future. The Information reported that Facebook is finally ready to unveil its crypto stablecoin dubbed Globalcoin. The digital coin, which according to the report is scheduled to be launched later this month, has been in the pipeline for about a year now and it is finally ready to hit the markets. To introduce the cryptocurrency to the world,…

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Report: More than 50% of Stablecoin Trading Worldwide Comes from China

Report: More than 50% of Stablecoin Trading Worldwide Comes from China

According to a report by Diar, Chinese stablecoin trading and volume account for more than half of the cryptocurrency transactions worldwide. The report comes as a surprise because of a previous report which claimed that some of the western countries were way ahead at least in terms of Bitcoin exchange transaction volume. However, the latest data shows that China dominates the global crypto trading trends. So far this year, the Chinese crypto market has seen…

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USDT+BTC=? Bitfinex to Deploy Tether on Bitcoin’s Lightning Network

USDT+BTC=? Bitfinex to Deploy Tether on Bitcoin’s Lightning Network

Bitfinex, one of the most popular crypto exchanges, has recently announced that it will launch its stablecoin Tether (USDT) on Bitcoin’s blockchain, the Lightning Network – a layer-two micropayments protocol that enables instant, low-cost Bitcoin transactions. Stablecoins are currently trending strong, and Bitfinex wants no stone unturned in order to bring USDT to more blockchains. Previously, the company announced that it will launch its stablecoin on EOS’s blockchain. Currently, Tether is issued on the Omni…

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OKEx’s Subsidiary Creates the Stablecoin USDK to be Listed on the Crypto Exchange

OKEx’s Subsidiary Creates the Stablecoin USDK to be Listed on the Crypto Exchange

On Monday, OKEx announced its new listing of USDK, a US Dollar-pegged stablecoin co-launched with its strategic partner OKLink and Prime Trust. According to OKEx, a Malta-based digital assets exchange, the USDK stablecoin will be listed on OKEx’s fiat-to-token (C2C) trading platform. GBP, RUB, CNY, VND, EUR and TRY are the fiat currencies that the USDK will be listed against at OKEx. Furthermore, it will start trading on the cryptocurrency trading platform with the following…

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Featured: The Full Story of Bitfinex & Tether

Featured: The Full Story of Bitfinex & Tether

News of the Bitfinex and Tether scandal has been dominating crypto news in 2019, but what is the full story? If you’re struggling to answer this question, it probably has something to do with what Bitfinex is being accused of in court: lack of transparency. We’ll attempt to clear some of the confusion here and tell you who the companies are, and the timeline of events leading to the latest updates. iFinex, Bitfinex, and Tether…

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Facebook Reportedly Sets the Date to Launch its “GlobalCoin” Cryptocurrency to 2020

Facebook Reportedly Sets the Date to Launch its “GlobalCoin” Cryptocurrency to 2020

You will recall that Facebook boss, Mark Zuckerberg, has been making plans to launch Facebook’s own cryptocurrency for a while now. The news which broke the internet late last year was received with a mixed reaction. While some people are eager to see the virtual coin launched, others are concerned about how well the social media giant can pull this off since it has been in the news for abusing consumers’ data. The same mixed…

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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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Accounting Firm Grant Thornton Issues Circle’s USDC Reserve Attestation Report for April

Accounting Firm Grant Thornton Issues Circle’s USDC Reserve Attestation Report for April

Grant Thornton LLP has issued an unbiased attestation report on the financial strength of the Boston-based fintech company, Circle Internet Financial, Inc. and its stablecoin, USDC. According to the report, the crypto finance company currently holds up to $293,351,374 in its custody account. It also stated that the amount of issued and outstanding USDC sums up to a total of 294,184,174 USDC as at the end of April 2019. From the figures, it is safe…

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Key European Central Bank Policy Maker Favors Stablecoins Over Bitcoin

Key European Central Bank Policy Maker Favors Stablecoins Over Bitcoin

About a week after the President of the European Central Bank (ECB), Mario Draghi, blew Bitcoin and other cryptocurrencies out of the water, the key ECB official Francois Villeroy de Galhau declared that he actually prefers Stablecoins to cryptocurrencies. It will be recalled that the President of the ECB, while answering a students question during the ECB Youth Dialogue last week, bashed Bitcoin and other cryptocurrencies, saying they are not real currencies. He supported his…

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