EU Antitrust Boss Flags Facebook Crypto Libra for Monopoly Risks
EU regulators are investigating if the Facebook Libra “cryptocurrency” poses a threat to competition by being a potential monopoly. Margrethe Vestager is the outgoing antitrust chief of the European Union. She’s gravely concerned that Libra could violate antitrust laws. EU: Facebook Libra must not stifle competition To address this, Vestager says European regulators are examining […]
Jeremy Allaire’s Circle the Latest to Distance Itself from Facebook’s Libra
Jeremy Allaire’s Circle issued a U.S. dollar-backed stablecoin before stablecoins were cool. Now that Facebook has joined the fray with its Libra coin, which is designed to be backed by a basket of fiat currencies (and maybe other financial instruments), the spotlight on stablecoins has grown brighter. But Allaire, who is testifying in front of […]
Crypto Unicorn Circle Shutters Payment App to Focus on Stablecoins
By CCN.com: Crypto unicorn Circle is shutting down its Circle Pay app in July to focus on stablecoins and developing new wallet services. The parent company of crypto exchange Poloniex made the surprise announcement on its website on June 13. Circle says now is the appropriate time to retire Circle Pay because fiat tokens and […]
Facebook Recruits Bank Lobbyist for Regulatory Assist with Crypto GlobalCoin
By CCN.com: Facebook has just hired a senior UK bank lobbyist ahead of GlobalCoin launch to help the company cope with European regulations. According to the Financial Times, Facebook will employ Standard Chartered European Head of Corporate and Public Affairs Ed Bowles from September as its London-based director of public policy. Bowles leaves Standard Chartered […]
Facebook’s Cryptocurrency Will Pay Interest to Users, Predicts Blockchain Regulator
By CCN.com: Facebook’s GlobalCoin cryptocurrency will likely pay interest to its users. That’s the prediction of Wyoming Blockchain regulator and crypto champion Caitlin Long. The social media company is gearing up to announce its much-hyped cryptocurrency this month, but very little is still known about the project, known internally as Project Libra. On Sunday, Long shared […]
Facebook Unexpectedly Plants Its Flag in Crypto-Friendly Switzerland
By CCN.com: Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra. According to Reuters, the focus of the fintech is on the blockchain, payments, data analytics, and investing. Libra Networks, which was registered in Geneva on May 2, will provide […]
Facebook Suddenly Relaxes Crypto Ad Terms Before Stablecoin Launch
By CCN.com: Now that Facebook is on the cusp of rolling out its own crypto of sorts, it’s adjusting policies for existing market players to advertise on its platform – again. The world’s largest social media platform said in a blog post on Wednesday that it’s been listening to feedback since it shut down crypto […]
$200 Million Crypto Stablecoin TrueUSD Launches Instant Fiat Redemption
TrueUSD celebrated its first birthday on Tuesday, and the $200 million USD-pegged cryptocurrency stablecoin commemorated the occasion with two major announcements that could help buttress it as it seeks to supplant $2 billion Tether (USDT) as the market’s leading stablecoin. Stablecoin to Provide Real-Time Accounting First, TrueUSD unveiled a partnership with Armanino, one of the […]
Social Proof-of-Work: Asia Reserve Currency Coin and Its Fight Against Corruption
A Southeast Asian stablecoin project aims to neuter corruption. It places an incentive on public reporting of problems. The International Blockchain Monetary Reserve calls the Asia Reserve Currency Coin (ARCC) a “macroeconomic stablecoin.” While it has a seemingly complicated structure, the premise is simple enough: as productivity and GDP increase as a result of its […]
Crypto Bloodbath Vaults Tether to 4th in Market Cap Rankings
With a roughly 10% increase to its market capitalization, Tether (USDT) has shifted to the fourth slot in the crypto market cap rankings. The repositioning can be attributed more to the downfall of other cryptocurrencies than it can to increased demand for Tether or expansion of its market cap. At $2 billion, it is about […]
TrustToken Develops Cheaper Method of Managing Client Ethereum Addresses for Crypto Exchanges
TrustToken, the developer and issuer of TrueUSD, has come out with a novel method for crypto exchanges to manage millions of addresses associated with TrueUSD and other ERC20 tokens. TrustToken has developed the first publicly available means of easily handling thousands or millions of addresses within a single wallet, thus reducing the amount of Gas […]
Ampleforth Stablecoin Improves Security After Audit
Ampleforth has completed upgrades after its second security audit through New York firm Trail of Bits. The full report is available below. Ampleforth is a stablecoin which uses a different method of preserving its dollar-to-unit ration, by transferring “volatility from unit price to unit count.” As the market shifts around Ampleforth, formerly Fragments, users balances […]
Singapore Crypto Exchange Switcheo Announce SDUSD Stablecoin Support
The Singapore crypto exchange Switcheo has announced over the holiday period that it now supports the Alchemist launched SDUSD stablecoin. The Dollar-pegged coin was created to hold the value of $1 and is locked to NEO. Switcheo Exchange made the announcement that the NEO/SDUSD pairing will be available on the platform from December 27 onwards […]
Paxos Standard Hassling Ethereum Traders Trying to Redeem Stablecoin PAX for Dollars
The source for this article wishes to remain anonymous. He is one of the multiple sources this reporter has spoken to recently. All of them are relatively large-scale traders who have used Paxos Standard. They are a group of five traders. They trade in the millions of dollars per week via multiple exchanges including Binance […]
Crypto Industry is Betting Big on the Future of Stablecoins
When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility. There were instances like a luxury item dealership, which used to accept bitcoins for their products but saw the value their Ferrari cars jump by almost 33% during a test run. The company, […]
Huobi Launches Multi-Stablecoin HUSD
For some, perhaps the only thing better than a stablecoin is a universal stablecoin – one that’s usable wherever stablecoins are accepted. That’s what Huobi has launched in its new HUSD token, which supports four major stablecoins: Gemini Dollar, Paxos Standard, USDCoin, and True USD. The function is simple enough – by holding HUSD, users […]
Paxos Standard To Be A Base Token on Binance
An exchange is only as good as its liquidity. There are hundreds of exchanges to choose from, and many have chosen Binance, which was originally based in China and funded through an ICO. Binance is far and away the largest exchange in the world by volume and users, most days almost doubling the volume of […]