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Ripple, Coinbase invested an undisclosed amount in the first Mexican crypto exchange to help it expand to Brazil and Argentina. Ripple, the firm behind the third biggest cryptocurrency XRP, has led an investment round in Bitso, one of the biggest crypto exchanges in the Spanish-speaking world. The first Mexican crypto exchangeAn early partner of Bitso, Ripple has led the new investment round to support the first cryptocurrency exchange in Mexico, the company officially announced on Oct. 14. As reported by crypto publication The Block, the new investment round also involves major investors including United States-based crypto exchange and wallet provider Coinbase, Jump Capital as well as existing investors such as Digital Currency Group and Pantera Capital. The amount of investment has not been disclosed. Expanding to Argentina and BrazilAccording to the report, the raised funds will help Bitso expand its business to Argentina and Brazil, among other Latin American countries. As noted ..
The SEC halts Telegram’s $1.7 billion token offering in a massive setback for TON, and Mark Zuckerberg is going to testify in front of Congress. Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This WeekU.S. SEC deems $1.7 billion Telegram offering illegal, orders haltIn what may be the highest-level action it has ever taken, the SEC has halted the $1.7 billion digital token offering for Gram (GRM) tokens. In a massive setback for the upcoming Telegram Open Network (TON), the regulator has filed an emergency action and restraining order against the two offshore entities behind it. The SEC alleges that the tokens were unlawfully sold — and claims U.S. markets would have been flooded with the digital currency if nothing was done. As a result of the proceedings, inves..
The xRapid, xVia and xCurrent services offered by blockchain firm Ripple have been fused into features of its RippleNet network. Ripple, the blockchain firm behind crypto asset XRP, fused three of its services into features of its RippleNet offering. Industry news outlet CryptoNews reported the change in Ripple’s product offering on Oct. 9. Little more than the names changedPer the report, a company’s spokesperson explained that now, “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity.” The Ripple representative also said: “Other than the names of the product, very few things have changed and will not affect our customers.” More than a software suiteThe company reportedly believes that moving from a suite of services to offer a network to its customers is a natural evolution of its strategy due to the growth of its user base and development of its standard. He c..
Ripple’s investment arm Xpring has invested in cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet. Ripple’s investment arm Xpring has invested into cryptocurrency wallet BRD to enable users to hold, purchase, sell and spend XRP tokens through the wallet. Xpring announced the development in an Oct. 11 blog post, noting that BRD — a mobile cryptocurrency wallet, with a reported user base of 2.5 million — will build on the Xpring platform to support and integrate XRP. Large user base and geographyBy selecting BRD, Xpring ostensibly focused on the wallet’s large user base and territorial coverage of 170 countries, as well as the company’s healthy growth in key metrics such as transaction volume. The post further suggests that this could result in new kinds of decentralized financial (DeFi) services, including banking, lending and peer-to-peer transactions that require no intermediaries. This June, BRD partnered with blockchain payment..
Ripple CEO Brad Garlinghouse has argued that his company’s transparency made it vulnerable to a “bunch of misinformation.” Alluding to the spate of controversies that have beset the project, Ripple CEO, Brad Garlinghouse, has argued that Ripple’s “transparency has opened us up to attack.” “10 or 100x more transparent than anyone else in crypto”In an interview for the Off the Chain podcast hosted by Morgan Creek Digital Assets co-founder Anthony Pompliano on Oct. 9, Garlinghouse said there is a “bunch of misinformation” out there, but claimed that this is in part because Ripple is “ten or a hundred times more transparent than anyone in the crypto community.” He said: “Our transparency has opened us up to attack [...] Ripple has tried to lead by example.” Pompliano revealed that by far the most listener questions related to the high-profile controversy over Ripple’s handling of XRP token sales, to which the CEO reiterated his earlier reassurances that the firm would choose to dump toke..
Ripple Labs comes under renewed criticism for its allegedly misleading representations that it “discovered” — rather than created — the XRP token. Ripple Labs, the administrator of blockchain payments network Ripple, has come under criticism for allegedly misleading representations that it “discovered” — rather than created — the XRP token. In a series of heated tweets on Oct. 9, Coinmetrics.io co-founder and Castle Island Ventures partner Nic Carter took the company to task for ostensibly attempting to obfuscate the nature of its relationship to XRP: “For the record, these psychopaths are still literally and without a shred of irony claiming that they ‘discovered’ XRP as opposed to having created it.” “Akin to Chevron’s relationship to oil”Carter’s aforementioned tweet links to an earlier message from the journalist Cory Johnson, who is featured on Modern Consensus’s 2019 list of the 100 most influential people in crypto. Johnson, a former Bloomberg TV anchor, worked roughly a year a..
America’s second largest banking institution searches for a “treasury product manager” specifically working with Ripple’s technology. The United States’ second largest bank appears to have hired a specialist for an implementation of blockchain-based payment network Ripple. Bank seeks Ripple team leadAccording to a job description on professional social network LinkedIn, as of Oct. 10, Bank of America (BoA) had stopped accepting applications for what it calls a “treasury product manager” for Ripple. “This role leads the product management team for the Ripple Project, a decentralized ledger technology based solution to cross border payments marketed to GTS clients,” the job’s description reads, continuing: “The incumbent will be responsible for driving product strategy and growth, overseeing daily product management routines, and overseeing the development of new initiatives that result in an innovative and highly-competitive product offering.” This move suggests that BoA is joining the..
Brad Garlinghouse, the CEO of blockchain payments network Ripple, thinks that Facebook will fail to launch its Libra digital currency before 2023. Brad Garlinghouse, the CEO of blockchain payments network Ripple, thinks that Facebook will fail to launch its Libra digital currency before 2023. Garlinghouse bets on a 3-year Libra delaySpeaking in an interview with Fortune on Oct. 7, Brad Garlinghouse argued that regulatory pushback would continue to plague the project that was only announced in July, noting: “I would bet that Libra… let's say, by the end of 2022, I think Libra will not have launched.” Garlinghouse also noted various problems governments have raised with Facebook around the world over its digital currency plans. As Cointelegraph reported, it was Germany’s finance minister who most recently vented concerns, arguing that money issuance should remain in the hands of the state. Tim Cook, the CEO of Apple, said likewise on Oct. 4, adding that the tech giant would not fo..
More than 200 academics and developers gathered to discuss Ripple's developer platform and global payment network. On Oct. 3 and 4, Ripple hosted a gathering of 200 developers, researchers and graduate students at the University of California, Berkeley campus for its first annual University Blockchain Research Initiative conference. Known as UBRI Connect 2019, this is Ripple’s major academic conference focused on blockchain and digital assets from a multidisciplinary perspective, hosted in partnership with Berkeley. The event welcomed over 40 schools from 14 different countries to discuss blockchain and crypto across business, law and engineering. UBRI Connect also provided the opportunity for Ripple’s developer platform for payments, Xpring, and its global payments network, RippleNet, to announce major milestones and updates. “UBRI Connect is an academic-focused gathering that allows Xpring and RippleNet an opportunity to tell their stories,” Ken Weber, head of social impact at..
Cryptocurrency exchange Coinbase is discussing the possibility of hiring the engineering team of Ripple-backed storage and rental startup Omni Rentals. United States-based cryptocurrency exchange Coinbase is currently discussing the possibility of hiring the engineering team of Ripple-backed storage and rental startup Omni Rentals, tech news outlet TechCrunch reported on Oct. 5. Not the only company interestedPer the report, two unspecified sources familiar with the situation told the outlet that Omni is currently struggling with layoffs and just lost seven operations team members. Besides Coinbase, the startup is also in talks with professional hiring intermediary Thumbtack for the same reason. Coinbase would reportedly employ the engineering team to further develop its Coinbase Earn education platform that is currently available in over 100 countries. It was first announced in December last year and lets users earn crypto for studying the ecosystem. Still, an official Coinbase spoke..