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Senator Brown on Libra: ‘A Recipe for More Corporate Power Over...

Senator Brown is concerned that Libra will allow Facebook to gain unfair control over the financial system and dictate new money policy to the detriment of ordinary citizens. Libra is a “recipe for more corporate power over markets and over consumers,” according to U.S. Senator Sherrod Brown, ranking member of the Senate Banking Committee. Senator Brown’s recent comments came by way of an official video tweet by NowThis News on July 16, posted hours after the Senate Banking Committee hearing on Facebook’s Libra. Brown appeared especially concerned about Facebook gaining the ability to force people to use their money and play by their rules. He remarked: "What happens when Facebook forces businesses to quit accepting your credit card or your debit card? You could be forced to use Facebook's new Monopoly money. What about small business owners, forced to use it or lose access to Facebook's millions of users?" Following today’s Senate hearing, Brown told the press that he hope..

Crypto Markets Continue Trading in Red, Oil Reports Losses

Crypto markets are down on the day, with some top-20 coins reporting double-digit losses. Thursday, July 11 — major cryptocurrency markets are trading in the red zone, with just a few coins reporting moderate gains, according to Coin360. Market visualization courtesy of Coin360 The leading cryptocurrency Bitcoin (BTC) has continued coming down after yesterday;s sharp drop to trade at around $11,740 as of press time. The coin has lost 4.39% over the past 24 hours. During the day, Bitcoin has been trading in a narrow corridor between $12,191 and $11,377. As reported earlier today, Bitcoin trading in Zimbabwe has continued to surge after the government banned the use of foreign currencies on June 24. The country is reportedly seeing a rise in peer-to-peer crypto trading as there are no local exchanges offering crypto transactions due to the existing ban on providing such services enacted by Zimbabwe’s central bank in May 2018. Bitcoin 7-day price chart. Source: Coin360 Ether (ETH) has ..

Crypto Markets See Sharp Drop, Gold Is on the Rise

Cryptocurrency markets could not maintain their bullish trend from early trading, with most major coins seeing red today. Wednesday, July 10 — Cryptocurrency markets have registered a sharp drop after Bitcoin hit the $13,000 price mark in the beginning of the day, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) is currently trading at around $12,092, having lost over 3.6% on the day, although in early trading today the BTC/USD pair reclaimed almost $1,000 in 24 hours. In terms of its weekly performance, Bicoin is up by 4.28%. Bitcoin 7-day price chart. Source: Coin360 The second-largest cryptocurrency by market capitalization Ether (ETH) has come down by 6.34% over the past day and is trading at around $289 at press time. The leading altcoin has lost over 2.5% on its weekly chart. Ethereum 7-day price chart. Source: Coin360 Ripple (XRP) has dropped by 8.45% on the day to trade at $0.361 at the press time. Today marked the altcoin’s intraweek ..

Establishing Legal Ownership of Real-World Assets in DeFi Credit Markets

The article is penned by Alice Henshaw. She is a smart contract engineer at Fluidity. Fluidity are a New York-based company working on DeFi, and are best known for creating decentralized exchange Airswap. Previously Alice worked at ConsenSys where she designed and implemented smart contract systems responsible for over $100M USD in transaction volume. She is a graduate of Oxford University with a degree in Computer Science. Decentralized Finance (or DeFi) represents one of the most promising near-term use cases for public blockchain technology. By replacing traditional financial intermediaries with immutable open-source software, DeFi has the potential to reduce costs and expand access to traditional financial products. And because many of the underlying protocols are open-source and interoperable, participants can freely mix and match various financial primitives like lego blocks to create entirely new products and forms of financial engagement between users. While DeFi can theoreti..

Top Crypto Markets Report Losses, Bitcoin Hovers Around $11,000

Crypto markets are down on the day, with almost all coins in the top 20 down from 1% to 5% and bitcoin trading below $11,000. Friday, July 5 — the top-20 digital currencies by market capitalization are trading in the red zone, with only Chainlink (LINK) seeing daily gains, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) has been trading in a narrow corridor from $11,701 to $10,751 as its highest point during the day. The leading crypto has lost 6.25% over the past 24 hours, and is currently trading at $10,969. In terms of its weekly performance, bitcoin has seen a price drop by 2.73%. Bitcoin has become less correlated with other cryptos in Q2 2019 due to a potential “flight-to-quality” in the recent bull run, according to a Binance report on crypto correlations released today. Average correlation between bitcoin and all other major crypto assets declined to 0.61 from 0.73 in Q1 2019. Bitcoin 7-day price chart. Source: Coin360 Ethereum (ETH) ha..

Crypto Markets Are Green Across the Board as Bitcoin Crosses $12,000

The cryptocurrency market is trending up after a flash crash by bitcoin on Wednesday followed by across-the-board losses on Thursday. Friday, June 28 — Top cryptocurrencies bitcoin (BTC), ether (ETH), and ripple (XRP) are all in the green, a total turnaround from the sea of deep red on Thursday. Market visualization. Source: Coin360 Bitcoin is currently trading at $12,316 again, around the levels it sank to following the sudden $1,400 flash crash on Wednesday. Bitcoin had continued to sink all the way to $10,380 on Thursday, but is now seeing strong recovery on the day, trending up by around 14%. Bitcoin 7-day price chart. Source: Coin360 The top altcoin and second largest cryptocurrency by market cap, ether, is seeing moderate gains on the day, up 5% and trading at $308. Ether has for the most part been cruising slightly above the $300 mark since it achieved this new altitude last Friday. Ethereum 7-day price chart. Source: Coin360 Ripple is seeing some small gains on the day, up..

Cardano’s Charles Hoskinson Says ADA Will Beat Facebook’s Libra In Emerging...

Cardano News Today – Everyone has been talking about the upcoming Facebook cryptocurrency, Libra. Apparently, this cryptocurrency is going to be a threat to traditional financial institutions and other cryptocurrencies according to members of the cryptocurrency community. The founders of blockchains, on the other hand, don’t feel the same way. As stated in our previous XRP news, the CEO of Ripple, Brad Garlinghouse has said that the emergence of the Facebook cryptocurrency is going to be a good thing for the cryptocurrency market. Now, Cardano’s Charles Hoskinson has said that he doesn’t believe Libra can overtake Facebook in emerging markets. Cardano News Today – Cardano Price Prediction – Cardano Future Forecast – Cardano Vs. Libra In Emerging Markets For a while now, Hoskinson has been traveling around the world and pitching Cardano’s technology to everyone who is willing to listen. Finance Magnets had the privilege of conducting an interview with Hoskinson at a Tel Aviv workshop. ..

ETH Hits 10-Month High as Crypto Markets See Solid Green

Most of the top 20 cryptocurrencies are reporting moderate gains on the day as Bitcoin breaks $11,100 and ETH hits ten-month high. Monday, June 17 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) passed the $11,100 mark. Market visualization courtesy of Coin360 Bitcoin is currently up over 13% on the day, trading around $11,154 at press time, according to Coin360. Looking at its weekly chart, the coin is up over 22%. Bitcoin 7-day price chart. Source: Coin360 As Cointelegraph reported earlier today, bitcoin crossed $11,000 in under 24 hours after crossing $10,000. Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $33.3 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $19.6 billion at press time. Coin360 data shows that ETH has seen its value increase by over 9% over the last 24 hours. At press time, ETH is trading around $314, after hit..

Grayscale’s Ethereum Security Now Listed on OTC Markets

Grayscale Investments announced that its latest security, Grayscale Ethereum Trust, is open for trading on OTC Markets. Grayscale’s Ethereum-based security, Grayscale Ethereum Trust (ETHE), is available for trading on OTC Markets, according to an official blog post from Grayscale Investments on June 20. According to the post, ETHE is “an open-ended trust that holds Ethereum.” As further noted, this is a means of investing in Ethereum without having to actually hold the cryptocurrency. This means that the “first U.S.-based publicly quoted security solely invested in and deriving value from the price of Ethereum is available.” Grayscale’s Director of Investments and Research Matt Beck commented on how investing in Ethereum can help investors build a profitable portfolio, saying: “Cryptocurrencies — such as Ethereum — offer exposure to a unique set of market opportunities and risks that are uncorrelated to traditional assets. As a result, they can further diversify modern portfolios, enh..

Bitcoin Markets Now Show Greater Influence From Institutional Investors: JPMorgan

A report highlights the fake exchange volume concerns from March compared with genuine bitcoin futures growth. JPMorgan Chase (JPM) thinks the Bitcoin (BTC) industry has changed considerably since 2017, citing an increase in institutional interest, Bloomberg reported on June 15. The publication quoted a report led by managing director of global market strategy of the United States’ largest bank, Nikolaos Panigirtzoglou, in which researchers examined recent phenomena surrounding cryptocurrency exchanges. As Cointelegraph reported, an investigation by asset manager Bitwise in March — and again last month — revealed that a significant amount of trade volume reported by exchanges was likely fake. Citing JPM, Bloomberg notes that if only 5% of May’s $725 billion number is accurate, than the true volume of BTC trading in May was equal to about $36 billion. On the other hand, May became the best performing month on record for Bitcoin futures provider CME Group, with implied USD value topping..
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