Ripple Xpring project has been launched for financial support to companies developing products and services for XRP.
Bloomberg, referring to the statement of Brian Quintenz, the representative of the Commodity Futures Trading Commission of the United States (CFTC), writes that Federal agencies need to determine the legal Ethereum status as soon as possible.
The leading North American derivatives exchange CME Group in partnership with the British Crypto Facilities announced the launch of two new tools - the Ether Reference Rate and Ether Real Time Index.
While the Hilton Midtown Hotel was preparing for the reception of the large-scale blockchain conference Consensus 2018, an unusual action took place on the adjacent streets - bankers protested against bitcoin.
Chris Lee the CEO of one of the biggest crypto exchanges in the world OKEx have resigned. He left the company in a special moment when they have just reported the largest turnover in the market on a world scale. As he had stated in an email today (14th of May) the reasons were simply personal as quoting “starting a new life”. A separate public statement issued by his spokeswoman, Chris Lee have said working for OKEx was as quoted “greatest pleasure and an honor” and that he will make a comeback into the world of blockchain and crypto after a short break to spend some time with his family. No specific reasons were given for his departure. As of the past 24 hours OKEx has handled well over 2 billion dollars worth of cryptocurrency trades thus making itself the worlds most actively traded crypto exchange according to Coinmarketcap.com. OKEx has seen an uptrend in the global ranking for over some time and recently had performed an overtake of Binance as the biggest by volume trading crypto exchange. There have been some reactions from some of the popular crypto figures and other social media commentators raising skepticism about the trading numbers given by OKEx. Some even suggested that the company was as stated “up to its old tricks” relating to the event from a few years back when OKEx’s parent company OkCoin had been involved into a scandal over allegedly fake trading volume. This event had the former OKCoin’s CTO and now current CEO of Binance Changpeng Zhao revealing an alleged accusation that OKCoin has violated a breach of contracts.
In this era, when crypto traders can harness the real power of Blockchain technology from decentralized exchanges, trading on a centralized exchange is a...
Another day, another dramatic event driving the prices in the crypto world. This Friday the 11th of May has been a pretty rough day for the crypto exchanges. A big turbulence in the South Korea’s biggest crypto trading platform Upbit has shaken the market. Prices of coins have started to crumble after a South Korean news sources had reported that the cryptocurrency exchange Upbit has been investigated by the local police for allegations of fraud. The Upbit’s headquarters in Seoul the capital of South Korea have been raided by investigators. Upbeat have been blamed for faking its balance sheets and deceiving their investors. A suspicious movement of funds from the exchange to a personal accounts of its executives had been also reported. The investigation into this unfortunate event is still ongoing and the police has yet to report on the situation of the matter. The info given from the South Korean authorities had stated: “We have secured hard disks and accounting books through confiscation. Analysis is expected to take days.” Adding that the final report on the Upbit case will be released next week. There has been a statement released from the Upbit’s side too saying: “Upbit is currently under investigation by the prosecution, and we are working dilligently. Upbit services such as all transactions and withdrawals are operating normally. Your assets are kept securely in your account, so you can rest assured that you can use Upbit services.” There has been a lot of cracking down on the crypto industry in South Korea in order to combat speculation and combat possible illegal activities such as money laundering. These types of raids had been done over the past couple of months by the Korean authorities on several small crypto venues, ICO’s and financial institutions from domestic exchanges. Example of a similar event happening in Korea was last month’s investigation on Coinnest. The exchange was charged with embezzlement and fraud, getting their chairman Kim Ik-hwan detained. The South Korean exchanges have also been listing cryptocurrencies at much higher prices than the exchanges from the other countries. These moves have led the CoinMarketCap team to remove most of the Korean exchanges from their listings. Although South Korea is a small country it is one of the world’s most significant trading centers taking the third place right after U.S. and Japan. According to ABC News at least 20% of the cryptocurrency trading in the world is taking place is South Korea.
One of the most popular stock trading apps Robinhood, had made headlines once again. This time with its newest funding round of 363 million dollars. According to their official statement published on 10th of May They have also acquired a new valuation at 5.6 billion dollars. This funding round has been led by multiple investment firms like DST Global, Iconiq, Capital G, Sequoia Capital and KPCB, making Robinhood the second most valuable fintech startup in the U.S right after Stripe, the online payment company. “I think the real ‘X factor’ that made investors even more excited about being a part of Robinhood was seeing our ability to, with a very, limited workforce, to ship three brand new products in these last six months, while maintaining and growing one of the largest brokerages in the U.S.” - said Baiju Bhatt, Robinhood’s co-founder and co-CEO. These kinds of moves had bringed as Robinhood has stated 2 more million users to the platform totaling at 4 million users at the moment. Robinhood had been a unicorn in the brokerage scene with its zero commission trading when it first started offering stocks and options trading and later adding the option to also trade Bitcoin and other cryptocurrencies. Robinhood Crypto launched this February, and is available in only 10 U.S states at the moment but there plans to expand to the whole country as fast as they get the appropriate licenses for every state. The CEO Baiju Bhatt is very confident that they will very soon become if not the first, at least break among the top of the most well known cryptocurrency trading platforms stating in his own words: “We expect by the end of the year to be either the largest or one of the largest crypto platforms out there. But we also really feel we’ll have the absoulte best experience for investing in crypto as well - from having a large variety of coins available to a more favorable cost structure-mainly no commissions- to just quality product.” Although Robinhood has aspirations to become one of the biggest players in the crypto world, in the end it will have to face all of the big banks of Wall Street. They seems to have finally started to catch up on the idea of crypto trading and some of them like Goldman Sachs and the New York Stock Exchange have announced that they will open cryptocurrency trading desks and planing to offer Bitcoin swap contracts in a very near future.
There are some great news that yesterday had came out of the New York Stock Exchange, about their parent company Intercontinental Exchange Inc., planing to let their customers trade Bitcoin reported by New York Times. They have been working on a new trading platform that would allow the stock investors to buy, sell and hold Bitcoins. These news about the virtual exchange come right after one of the biggest banks in Wall Street Goldman Sachs has announced earlier this month that they are planing to open their own trading unit for cryptocurrencies or at least for starters trades with Bitcoin. New York Stock Exchange competitors like Cboe Global Markets and CME Group have started their own journey into the crypto world with the offering of a Bitcoin futures. In an interview last month the stock exchange parent company Intercontinental Exchange Inc.’s Chief Executive officer Jeffrey Sprecher had ruled out the offering of a digital currencies based contracts stating: “ There is a trend here we can’t ignore in my mind, so I don’t discount it.” But despite this statement, moves like these that promote acceptance of cryptocurrencies by big banks and stock exchanges, gives more credibility to the whole crypto field and will bring forth a faster adoption through out the world. Many details of the new platform that the New York Stock Exchange is working on are still in a starting phase and are far from a final version, meaning there is a possibility for them to not see the light of the day, but that still remains to be seen. They are also talking with some of the top banks in order to set up a tool for the banks to buy contracts known as swaps that will enable their customers to actually own Bitcoins the very next day with the help of all of the benefits that an exchange can deliver. Regulators are investigating if many of the top virtual currencies like Ethereum have been violated any of the securities regulations. The experts believe that the technology behind Bitcoin that had been created and structured in a decentralized manner with many computers around the world backing the network, will be the safest bet in investing when combined with good regulations. LedgerX is the only exchange that now offers the kinds of swaps that NYSE has planned to implement. And as LedgerX’s founder has put it in its own words: “ The industry is seeing unprecedented institutional interest for the first time in Bitcoin’s history. I’ve been amazed that the strongest believers in cryptocurrency often start out the most skeptical. It’s a healthy skepticism. But at some point the perception shifts, and for many institutions - I think we’re finally there.”
On the frequently-asked question is how you can invest in an ICO and earn a fortune! It’s true that purchasing tokens during an ICO can...