Cryptocurrency
WisdomTree Considers Launching a Stablecoin in the U.S.
- The asset manager, who oversees around $63 billion in assets, will first try to obtain the approval of the SEC.
- The regulatory agency might be a bit more welcoming towards WisdomTree, given that it is an established U.S. financial firm.
Despite Potential Drop to $6,000, Bitcoin Might Hit $25,000 by 2021
- The prediction was made by Galaxy, a prominent crypto trader and researcher.
- Other crypto enthusiasts such as Dave the Wave, Travis King, and Mike Novogratz, have also predicted that Bitcoin will hit $25,000 by 2021.
Leading Crypto, Precious Metal Companies Create Gold-Backed Stablecoin
- The new digital asset is titled DGLD and is currently tradeable only on Blockchain.com's The PIT exchange.
- Initially, each DGLD token will be worth 1/10 of a troy ounce of physical gold.
Elliptic Finds Only $400 Million in XRP Transactions Are Illicit
- Illicit activity includes a variety of Ponzi schemes and darknet activities, but only represents 0.2% of all transactions.
- Elliptic started analyzing XRP transactions over a year ago and identified several hundred accounts with illegal activity.
Global Streaming Radio Station Issues FLATCOIN to Accept Global Payments
- The new coin will also be used for discounts, payments to authors, and ticket sales.
- CEO Maksim Anisimov, outlined that using the Minter network benefits their ecosystem by providing instant transfers and low transaction costs.
6-Figure Influential Bitcoin Trader Forecasts a Continued BTC Price Slump
- Zoran Kole, a highly respected crypto trader, states that the bottom of the pit is yet to be seen.
- The effects of Bakkt's launch on the digital assets market are yet to match the hype that was mounting during the project's development.
Stellar Burns $4.7 Billion Worth of XLM
- Out of the 105 billion XLM tokens that were in existence, the Stellar Development Foundation decided to destroy 55 billion of its own tokens.
- The tokens came mainly from the organization's giveaway and partnership programs, which have now been ended.
Paxos Expands its Gold-Backed Token’s Ecosystem
- The new partnership with Alpha Bullion allows PAXG token holders to redeem in small sizes of gold.
- The gold-backed token is now available for trade against the USD, EUR, BTC and ETH on the Kraken exchange.
Researchers Describe Bitcoin Attack That Could Halt Lightning Payments
- According to the paper by Schmid, Tochner and Zohar, a DoS attack might be carried out easily once the network is used heavily.
- Of course, this attack is still conceptual and by the time it is achievable there should be a way to stop it.
Draft Bill Claims Stablecoins Are Securities
- The "Stablecoins are Securities Act of 2019" aims to put all stablecoins under the regulatory supervision of the SEC.
- Facebook's Libra seems to be at the core of this new bill as fears of its imminent launch in 2020 grip policymakers.
Fractional-Reserve Stablecoin to be Released by Former Fed Nominee
- Stephen Moore plans to release a stablecoin, Frax (FRX), with its value fixed to the dollar, but not backed 1:1 by it.
- The "algorithmic, fractional-reserve stablecoin" will use on-chain lending to create interest cash flow, which will maintain the price of FRX.
Facebook Could Issue Several Stablecoins Instead of Just One
- David Marcus reportedly said that Facebook is considering dropping its plan of a single stablecoin, for a number of fiat-pegged stablecoins.
- This move could be the result of a recent report from the Financial Stability Board, which said that "global stablecoins" as a threat to financial stability.
Bank of America Discretely Pilots Ripple Service
- A presentation that was led by Ripple upper management clearly shows Bank of America’s involvement.
- While Bank of America’s management were skeptical back in the day, it now seems that they are preparing to enter the DLT industry.
Can the Next Bitcoin Halving Push Small-Scale Miners Out of Business?
- The uptrends during the previous two halvings do not guarantee that the same thing will happen again.
- After rewards get reduced, the popular mining machines of today would not be able to turn a profit for their operators.