Solely 318 Addresses Hold Almost All of Tether’s Cryptocurrency Circulation

Solely 318 Addresses Hold Almost All of Tether’s Cryptocurrency Circulation

According to a report by the cryptocurrency research firm Coin Metrics and reported by Bloomberg, the large Bitcoin whales including crypto exchanges such as the Malta-based Binance and Hong Kong-based Bitfinex, own almost a fifth of the largest cryptocurrency, Tether (USDT). The report also showed only 318 addresses own almost $1 million worth (almost 80%) of all Tether digital coins, the token that serves as a channel for trading in many of the world’s largest…

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Huawei’s CEO Wants China Answering to Facebook Libra with its Own Stablecoin

Huawei’s CEO Wants China Answering to Facebook Libra with its Own Stablecoin

Ren Zhengfei, CEO of Huawei, made some fascinating remarks about Facebook Libra and China during an interview with the Italian website L’Economia, which was published on July 22. According to him, China doesn’t have to wait to be invited to the ‘Libra club’ as the country is capable of issuing such a digital currency by itself. He further added that Libra faces several serious obstacles in the U.S. alone, and of course in other parts…

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Philippines’ UnionBank Rolls Out Own Cryptocurrency: The PHX Stablecoin

Philippines’ UnionBank Rolls Out Own Cryptocurrency: The PHX Stablecoin

After last year’s pilot project in collaboration with the Ethereum-based startup ConsenSys, Philippine’s UnionBank now has its own cryptocurrency, reports local news outlet The Philippine Star. Arvie de Vera, Senior Vice President of UnionBank confirmed that not just the cryptocurrency, in the form of a stablecoin called PHX, has been launched, but PHX transactions have also been enabled across rural banks. Actions of PHX buying, transferring, domestic remittance and redemption transactions with the rural banks…

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Greek Billionaire Creates Cannabis-Pegged Stablecoin and Global Hemp Exchange

Greek Billionaire Creates Cannabis-Pegged Stablecoin and Global Hemp Exchange

What a beautiful time to be alive! The world just witnessed the launch of the first-ever global cannabis bank and a new related crypto stablecoin, SWX Coin. The Swissx Cannabis Bank, as it is fondly called, was launched on July 26 by the Greek billionaire, Alkiviades David. According to David, the goal is to revolutionize the cannabis industry, and he hopes to do this through the Swissx Bank which also operates a unique crypto coin…

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Tether Further Expands into Algorand POS Blockchain Network

Tether Further Expands into Algorand POS Blockchain Network

Despite extending its tech prowess to TRON, Omni, EOS, and the Ethereum blockchains, Tether (USDT) is now set to launch in Algorand, reaching a total of 5 blockchain networks. This expansion, according to a post released by Tether, is totally plausible as it advances partnerships and cooperation within the developing digital asset community. The post highlights that Tether believes that Algorand is unquestionably qualified for the job as the two crypto entities share a similar…

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The Winklevoss Brothers Recommend Zuckerberg to Cooperate with the Feds

The Winklevoss Brothers Recommend Zuckerberg to Cooperate with the Feds

Despite their rocky relationship with Facebook CEO Mark Zuckerberg, the Winklevoss twins believe in Facebook’s bet on cryptocurrency, the two said in an interview with CNBC. They have always been vocal in their support of crypto and now they’ve come out in support of Facebook’s Libra. ″[Libra] is very positive for crypto, a company the stature of Facebook talking about crypto currencies demystifies the word and makes people feel a lot more comfortable,” said Tyler…

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Banking Giant Goldman Sachs Seeks Digital Asset Project Manager for Crypto Development

Banking Giant Goldman Sachs Seeks Digital Asset Project Manager for Crypto Development

The recent hot story from the crypto news sphere is that the banking giant Goldman Sachs may follow the footsteps of JPMorgan and will launch its own USD-backed stablecoin. The CEO of Goldman Sachs, David Solomon, reveled in an interview with French news outlet Les Echos recently that the company is studying cryptocurrency for tokenization of various asset class and exploring possible ways to disrupt the current financial market with new products and services. Goldman…

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US Congress Tells Facebook to Pull the Breaks on Libra’s Development

US Congress Tells Facebook to Pull the Breaks on Libra’s Development

The United States House of Representatives Committee on Financial Services demands from Facebook and its partners to stop the development of the Libra cryptocurrency stablecoin. This is just the latest hurdle in Facebook’s path to making Libra a globally accepted digital currency. Regulators across the board have been coming out one after the other against Libra. However, this might be the greatest threat to the stablecoin that Facebook has faced to date. In an open…

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Steve Forbes Thinks Facebook Should Back Libra with Gold and Call it ‘Mark’

Steve Forbes Thinks Facebook Should Back Libra with Gold and Call it ‘Mark’

Steve Forbes, the Editor-in-Chief of Forbes Media, just wrote an open letter to Facebook’s Mark Zuckerberg, suggesting that Facebook should back Libra with Gold. Facebook’s cryptocurrency Libra has been getting a lot of attention from global media and news outlets because of the potential it has. In his letter, Forbes commends Facebook for inventing Libra and hints that Libra could even replace the U.S. dollar as the global currency. He states: “Your new currency could…

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Banking Giant Goldman Sachs May Launch its Own Crypto Stablecoin

Banking Giant Goldman Sachs May Launch its Own Crypto Stablecoin

One of the largest US-based multinational investment banks and financial services companies, Goldman Sachs, might launch its own stablecoin like its banking rival JP Morgan Chase that previously announced its own USD backed stablecoin called JPM Coin. In an interview with French financial newspaper Les Echos on June 28, Goldman Sachs CEO David Solomon said that the banking giant is doing extensive research on the concept of tokenization of assets to take part in the…

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