IBM Announcement Pushes BTC And XLM

The markets have seen a small amount of positivity over the past few weeks, though when we say small, note that we do mean small. As it stands, the markets are still way down from the figures we witnessed this time last year, with no chance of a surge that will pull Bitcoin back to $20,000.00 expected anytime soon either.
Earlier this week, IBM made a huge announcement with regards to their Blockchain World Wire Global Payment Network, an announcement that seems to have had a positive impact on Bitcoin and Stellar, though the rest of the markets have remained stagnant.
It’s worth noting that Blockchain World Wire works on the Stellar network, so it’s no surprise that this news has benefitted XLM, which at the time of writing has a value of $0.113.
I should mention that this is not investment advice, even though this news has helped push XLM and Bitcoin ever so slightly, it’s not going to cause the markets to sky rocket, therefore this should not be taken as investment advice. If you do decide to invest in Stellar, Bitcoin or any other cryptocurrency, do so off your own back, informed by your own research. Only invest what you can afford to lose.
According to Forbes, Marie Wieck, the General Manager at IBM Blockchain has said:

“We’ve created a new type of payment network designed to accelerate remittances and transform cross-border payments to facilitate the movement of money in countries that need it most. By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide.”

The major announcement from IBM came at the start of this week, when IBM announced that the Blockchain World Wire Network had seen an expansion across more than 50 countries, meaning a whole load of new countries had adopted this technology, therefore meaning that a load more people and institutions would start to use Stellars technology in order to settle payments. Great news for Stellar, bad news for Ripple – arguably Stellars closest rivals.

“This partnership was a significant step forward for cryptocurrencies. This is because instead of Stellar trying to compete with chartered financial institutions, they were able to include them in a productive way that is beneficial to all parties involved.”

Once the underdog in the shadow of Ripple, Stellar is now at the fore of international payments via the blockchain. The war between the two is hotting up, which can only result in the development of bigger and better blockchain technologies. What an exciting time to be an investor!
Source: Crypto Daily

Blockchain Summit 2019: SEC Wants To Drive Innovation

Since the start of this year, there have been some big figures in the US Securities and Exchange Commission which have shown increased optimism towards the booming industry. The SEC Commissioner, Hester Pierce has given her advocacy, Commissioner Robert Jackson has expressed his confidence in the eventual approval of a Bitcoin ETF, lawmakers and regulators alike are focused on driving regulatory clarify for crypto assets and so the implementation of blockchain into the mainstream.
Now, the SEC senior blockchain advisor, Valerie Szczepanik has given her advocacy for cryptocurrency.
The SXSW Blockchain Summit was held last week in Austin, Texas where Szczepanik spoke on the need for flexibility on the part of regulators in order to help drive innovation in the US. According to Szczepanik, the difficulty is in striking the balance between proper guidelines and enforcement to protect investors and a more light-handed approach to adopt innovation and help advance the economy.
The blockchain advisor said, “I think if you were to propose a new regime of regulations in a precipitous way without really studying it, you might end up steering the technology one way or another.”
Another big thing for driving adoption is for cryptocurrency projects to actively seek out regulators and ensure legal compliance whenever necessary. In order to help blockchain startups in this endeavour, the SEC hosts FinHub, “the regulator’s open line of communication for fintech companies to voice their questions and concerns regarding regulation.”
One source of relief for blockchain projects that are hoping that they will get the regulatory green light is ‘no-action’ letters. For those that don’t know, ‘no action’ letters are simply confirmations from the SEC that there won’t be any action taken (hence the name) to disrupt the project’s operations.
Szczepanik suggested that startup projects are likely to not receive these kinds of letters if they communicate openly and regularly about their intentions with the SEC. When talking about the necessity for communications, the blockchain advisor said, “we’d much rather have people come and ask us before they do something rather than coming and asking for forgiveness.”
In the future though, Szczepanik will be taking to the road to meet directly with entrepreneurs and discuss how cryptocurrency projects are able to cooperate to ensure optimal integration and adoption for this new asset class and technology.
Source: Crypto Daily

Survey: Ripple Expected To See Most Gains In 2019

The GMO internet Group in Japan is a firm that provides several services in relation to the internet. They have recently released the results of a survey they conducted which showed that nearly half of all the respondents said that they expect Ripple to see the most gains throughout 2019 compared to the other coins and tokens.
The survey was conducted from 30th January – 20th February with around 11,000 people taking part with some very interesting results.
Around 70 percent of the participants believe that cryptocurrencies are long-term investors and that there is a lot of potential for the future of these assets.
Although the main reasons for investment are partially down to the potential of making money when it comes to crypto as well as the concerns had to do with market volatility and exchange security. There is also a big implication that the potential for high returns has a big home in the mind of the investor. The report claims that 90 percent of the participants entered the market after the highs of late 2017.
The GMO Internet Group has started up its own crypto exchange called GMO via its subsidiary GMO Coin. Moreover, the firm has a brokerage and margin trading service which CMO Coin has dubbed as the Sales Office and Virtual Currency FX, respectively.
In the crypto community, you either love or hate Ripple, there doesn’t seem to be an in between. When it comes to Japan though, XRP is a very popular asset. The country’s financial services firm, SBI Group is a big supporter of Ripple and the CEO of the firm believes that the token has a lot of potential. In fact, Yoshitaka Kitao is expecting every bank in the nation to use Ripple’s XRP token by the 2025 Osaka Expo.
Japan is also making some ground when it comes to the regulation of cryptocurrency as the Financial Services Authority is currently reviewing whether it should hand licenses to about seven exchanges. On top of this, it is also planning to amend two acts and change the name of digital currencies to cryptographic assets in order to accommodate the new asset class in the existing legal framework.
When it comes to price, XRP is currently in the red with a 0.53 percent decrease over the past 24 hours leaving it a price of $0.31 and as the third largest cryptocurrency in the market.
Source: Crypto Daily

SEC To Host Public Bitcoin Forum

The United States Securities and Exchange Commission (SEC) have announced that they will be holding a public forum in May that focuses on Blockchain technology and Digital Assets such as Cryptocurrencies. The announcement sets a promising precedent that suggests finally, the SEC could be about to fully open their doors to cryptocurrencies, after a public consultation of course.
The forum will be held on the 31st of May 2019 and has been set up by the SEC’s strategic hub for innovation, also known as FinHub, a department within the SEC dedicated to exploring Fintech and blockchain technologies. This is the second time the SEC will have hosted a public forum on crypto, meaning that this is surely something they are starting to get serious about.
According to RTT News, the forum:

“Will feature panelists from industry and academia, and is designed to foster greater communication and understanding around issues involving DLT and digital assets. The panelists in the discussion will explore topics including initial coin offerings, digital asset platforms, and DLT innovations. They will also talk about how these technologies impact investors and the markets.”

The forum will be held in Washington at the SEC headquarters, with more to be announced in the coming weeks, including a list of speakers and other activities that will be taking place at the event.
FinHub
FinHub is a branch of the SEC that has been set up to explore innovation in technologies such as blockchain and finance. FinHub was established in October, though has since become an integral part of the SEC’s service. FinHub also seems to be responsible for much of the relationship building between the SEC, the public and those within the crypto industry that are responsible for institutional level cryptocurrency investment.
In short, FinHub could be the department within the SEC that eventually accelerates cryptocurrency adoption, we can hope at least.
The SEC are responsible for the future of cryptocurrency in the United States and are currently heavily involved in the current Bitcoin ETF saga. They are a very powerful entity and therefore it’s very exciting to see the SEC involving the public in forums and consultations in this way, it’s clear they want to see if the public are interested in crypto, with the view to establish more crypto regulations in the future, regulations that hopefully make Bitcoin adoption a real prospect.
Source: Crypto Daily

6 Banks Sign Up To Introduce Stablecoins On IBM Network

Six global banks have reported signed letters of intent to issue their own stablecoins backed by their national fiat currencies on IBM’s now-live blockchain-powered payments network, “World Wire”. The news was jointly announced by IBM and Stellar during a keynote at the Singapore event Money 2020 according to reports.
IBM’s cross-border payment network, Blockchain World Wire was launched in collaboration with Stellar in September last year. Blockchain World Wire went live yesterday (18th March) and apparently more than 40 banks are on service which should leverage cryptocurrencies to enable near real-time international settlements between banks.
According to reports, six banks have confirmed their intent to issue stablecoins backed by their national fiat currencies on BWW which included Banco Bradesco from Brazil, South Korea’s Bank Busan and the Phillippines Rizal Commercial Banking Corporation.
Jesse Lund, the head of blockchain solutions at IBM has revealed that other banks, which has yet to be disclosed, will reportedly issue stablecoins that are going to be tied to the euro and Indonesian rupiah.
Ahead of the announcement, IBM has also made a new partnership with the Stellar based, Stronghold in order to create the Stellar network’s very first stablecoin.
The blockchain solution head has stated that IBM plans to expand its blockchain-powered settlement network with further assets saying:

“We let the market drive the expansion and selection of the network incrementally. We are really feeling excited that we are on a roll to build something new and revolutionary that’s really going to change the landscape of cross-border payments.”

BWW currently supports almost 50 currencies in more than 70 countries around the world.it disintermediates legacy bank settlement systems by bringing in the XLM token as an effective tracked settlement tool for fiat currencies between institutional parties.
IBM doesn’t issue the settlement asset chosen between parties as Lund sat down in an interview to make it clear that “our view for stablecoins is really that they should be more broadly accessible and what World Wire seeks to do is to provide fungibility of digital assets across financial institutions.”
In terms of price, Stellar is performing quite well on the day. The cryptocurrency is priced at $0.11 following a 5.15 percent increase over the past 24 hours.
Source: Crypto Daily

Switzerland Jump On BTC Adoption As Bitcoin Payments Become Reality

In a big milestone for Bitcoin adoption, the Swiss, Digitec-Galaxus is now accepting Bitcoin and other select cryptocurrencies as a means of payment for its customer base.
For those that don’t know, Digitec-Galaxus is often seen as the Amazon of Switzerland and is one of the biggest online retailers in the nation. The firm was founded in 2001 and operates the Digitec and Galaxus online shops as well as ten stores in other parts of Switzerland.
Swiss customers of Digitec and Galaxus will now be able to pay with Bitcoin when shopping online. As well as Bitcoin, other altcoins will be accepted on the online retailer such as Ethereum, Ripple, Bitcoin Cash, Bitcoin SV, Binance Coin, TRON, Litecoin, NEO and OmiseGo.
The Chief Innovation Officer and co-founder at Digitec, Oliver Herren has spoken on the matter saying, “Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development. We wanted to do that for a long time, but the effort was too long for a long time.”
Herren was asked why his firm is getting involved in the crypto space and using digital currency as an alternative form of payment. He explained that “because you have some and you want to use them. Or because you cannot turn them into real money because your bank does not accept it. Or maybe just because your can and like to try new things.”
The company has admitted that it is mainly doing this in order to get some praise from there younger audience and the tech-savvy crowd.
Simultaneously, the volatility of price won’t be a problem as the firm states. All transactions will be processed through a third party payment processor Coinify and immediately converted to Swiss francs.
Nevertheless, the new payment option will only be available for Swiss customers in its initial stages but if the new plan turns out to be successful then German customers will be able to jump on the bandwagon.
This is a brave step by the leader of the online retail market in the country. It is likely that rivals of the Digitec-Galaxus will start doing the same thing and bring in crypto payments as an option to the users.
It seems that Switzerland has been a hot place when it comes to crypto adoption. It regularly hosts cryptocurrency events and its stock exchange has rolled out cryptocurrency-tied products like a Bitcoin ETP.
Source: Crypto Daily

TRON’s Past Indicates It’s Going The Right Way For Greater Success

TRON is one of the biggest growing blockchain startups in the world with very unusual speed and an unconventional success. Starting on the Ethereum blockchain several years ago, TRON launched its own mainnet in June 2018 which was celebrated as ‘independence day’ for the decentralised project and has since been operating independently on its own.
The CEO and founder of TRON are the famous Justin Sun and since the project gained its independence with Ethereum now being their main rival. This is put down to the TRON platform being very similar to the Ethereum platform, not to mention that the TRX token was based on Ethereum’s ERC20 token which is what most crypto tokens were built upon.
The main goal for Sun is to beat Ethereum when it comes to smart contracts and dApp deployment, the two major things that the two projects have in common.
Following the launch of the independent mainnet, the TRON Virtual Machine was released again in a similar sense to the Ethereum Virtual Machine. This was another significant achievement for the project which led to the commencement of dApp and smart contract deployment on the blockchain. In addition to this, Sun also bought out BitTorrent in his effort to decentralise the internet.
Following this, TRON gained a lot of traction in the community and became quite famous to an extent. TRON saw a lot more users flood onto the platform and sometimes increased by 100 percent in months which garnered a lot of attention for the project. At the time of writing, TRON brags that they have more than 2 million accounts in its network and recently announced that the project has surpassed $100 million in 24 hours dApp volume.
There has been a lot of success for TRON so far and we can only expect that throughout 2019 we are going to see a lot more of it. The fact that a startup could grow at such a speed is nothing short of phenomenal. The quick growth of TRON has raised some suspicion though which is down to Sun not being able to put a lot of technological effort into the platform but instead his selling point is the active publicity he engages is on social media.
At the start of the year, an inside source from the SEC indicated that the project was on a path to destruction and warned the community to stay well away from it. The SEC hasn’t actually taken any action towards TRON so maybe this inside source wasn’t really legit.
Source: Crypto Daily

Citibank No Longer Planning To Produce In House Crypto

Through 2019, we have seen several reports from leading financial firm JP Morgan with regards to JPMCoin, the new JP Morgan backed cryptocurrency.
Whilst this seems like an exciting development, JP Morgan are actually way behind their rivals Citibank, who actually announced plans to explore their own cryptocurrency back in 2015. Since the announcement from JP Morgan however, it seems Citibank have abandoned their plans to reach into crypto, for now at least.
The project announced in 2015 was known as Citicoin, this was an idea to use blockchain technology to improve global payment processes, though it seems that since 2015, the project had never materialised into anything significant. According to Coindesk, Gulru Atak, the Global Head of Innovation for Treasury and Trade Solutions at Citibank has commented on some of the experiments that have been carried out within Citicoin in the past:

“Based on our learnings from that experiment we actually decided to make meaningful improvements in the existing rails by leveraging the payments ecosystem and within that ecosystem, we are considering the fintechs as well or the regulators around the world as well, including SWIFT.”

So, instead of designing and implementing their own blockchain based technology, Citibank have found it to be more efficient to work on improving current services by working alongside the likes of SWIFT, in order to improve the technologies that already exist. Simply put, Citibank didn’t see any reason to design new concepts, when instead they can focus their efforts on utilising current technology.
Furthermore, Atak has added:

“If we are talking about cross border payments, how many banks do we have across the world – and how many of them are already on-boarded on SWIFT? And how long has it taken SWIFT to onboard all those banks?”

Citibank believe that it could take too long for anyone to actually want to adopt their technology, given that it’s taken SWIFT so long to see institutional adoption too.
We can’t forget Citiconnect either – a project that has been designed to leverage current legacy systems, though sadly this won’t be used to issue any stablecoins in the future either:

“CitiConnect didn’t issue stablecoins but the infrastructure that was used was similar to issuing coins on a blockchain platform. But it was purely to integrate into a blockchain-enabled system on our client’s end and make it connect to our legacy payment processes real-time.”

Source: Crypto Daily

Will The SEC Just Reject Bitcoin ETFs For Eternity?

The United States Securities and Exchange Commission has been talked about a lot over the past year, especially when it comes to the Bitcoin ETF. Some commissioners have actually said some positive things about Bitcoin with others saying that that the approval of the Bitcoin ETF isn’t a matter of ‘if’ but ‘when’. That being said there hasn’t been an official statement from the SEC in regards Bitcoin ETFs.
The lack of certainty on Bitcoin ETFs is problematic and given that ETFs are an excellent way for both average and institutional investors to access the ecosystem and form a relatively safe position.
The stated position of the SEC is that the cryptocurrency market is still subject to heavy volatility although the market has been relatively stable so far this year.
For the SEC though, consumer protection is the key priority when it comes to regulation. This is a good position, but the SEC also stands to lose a lot if they postpone their final decision on an ETF approval.
Jay Clayton is the SEC Chairman and has said that manipulation and security are things that need to be looked at.

“What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation. It’s an issue that needs to be addressed before I would be comfortable…We care that the assets underlying that ETF have good custody, and that they’re not going to disappear.”

Many people see the United States as a country that is lagging behind when it comes to emerging industries like blockchain and artificial intelligence. Although that being said, there seems to be a lot of Bitcoin ATMs cropping up in the US. In fact, there are more than 4,000 BATMs in the nation at the time of writing so one could say that they are actually ahead of the game.
China has embraced these technologies and for the most part, has encouraged innovation with the aim of digiting their economies and birthing new employment opportunities.
There is genuine potential in the asset class of cryptocurrencies and increasingly authorities across the globe are taking to it. By adapting existing rules to accommodate digital assets, these nations will allow of a quick burgeoning industry to flourish which draws more investment and innovation into their respective economies.
Source: Crypto Daily

Italian Facebook Users Notice New Payment Option On Platform

Users of Facebook in Italy have noticed something out of the ordinary recently on Facebook. They’ve noticed a new option on the apps social network that invites them to “Paga con Facebook” meaning, Pay with Facebook. The option has also got a Bitcoin-like logo above it too. Simultaneously, there has been some new rumours which have surfaced about the firm’s plans to enter the crypto space with their new digital currency, Facebook Coin. Even though there hasn’t been an official announcement on the subject by Facebook, hopefully, we aren’t too far away from one.
The news on Facebooks Italian users came from a tech site based in the country, Mobile World. The new payment option has been seemingly made available for both Android and iOS users in the country but isn’t yet available for users in the UK nor users in the US.
According to Mobile World, the new system works similarly to purchases on the Facebook Marketplace where the buyer has to send payment request and then wait for it to be accepted instead of just simply buying it with a single click or tap. Instead of just using funds in your local currency with your bank as with payments on Messenger currently, there is talk that this new functionality will also come with a brand new currency as well.
This isn’t the first time we’ve heard that Facebook wants to get involved in the cryptocurrency space but some reports have indicated that Zuckerberg has taken influence from the multi-purpose Chinese based WeChat app. In fact, the supposed Facebook Coin wouldn’t be just used in the firm’s main product (Facebook) but it would be transferred into WhatsApp too (1.5 billion users as 2017) which would be a huge boost to adoption.
WeChat is a strong platform that is like an all-rounder with WeChat Pay being a considerable part of its offering. So it’s quite understandable as to why Facebook would want to take influence from there business model. If Facebook Coin could be a prime part of Facebook, WhatsApp (maybe even Instagram) then the cryptocurrency could see a lot of success.
The biggest challenge that Facebook will face with this is similar to one that it has had for a while now, the trust factor. There is a general lack of trust when it comes to Facebook, with rumours of the social network meddling with the US elections, and several ad scams have occurred over the years on the platform which have all given Facebook a bad name.
Source: Crypto Daily

What To Do This Altcoin Season

Before we begin, please note that this is not investment advice and we are not investment advisors, rather we are just trying to offer some insight into some possibilities that could occur as a result of ‘Altcoin Season’, a phenomena that occurs when altcoins start to shoot up away from the trend of Bitcoin – some investors call it a pump and dump, but this might not always be the case.
Remember that investing in any cryptocurrency is a risky business, all cryptocurrencies are volatile and are subject to dramatic price changes, therefore you should only invest what you can afford to lose and always remember to trade safely.
It’s Altcoin Hunting Season
As we have suggested, ‘Altcoin Season’ refers to altcoins shifting upwards away from the trend of Bitcoin. Generally speaking, because of it’s huge grip on the markets, Bitcoin leads the price of altcoins, therefore when Bitcoin spikes, the rest of the markets follow, though, sometimes, due to a low level and underground investment, altcoins can see huge surges away from this trend. A great example of this came from EOS last April/May, when EOS tokens managed to reach $20.00, away from the grip of Bitcoin.
Back then though, the markets did have an air of positivity about then, therefore we don’t expect a huge bull run from EOS anytime soon.
According to The Merkle:

“Unlike what the name would suggest, the Altcoin Season is not necessarily something which happens during a specific time of year. In fact, there is no such Altcoin Season every year either, as the year 2018 made that rather apparent. However, it is a period during which cryptocurrency traders tend to get overly excited about smaller-cap coins gaining value so they can increase their Bitcoin holdings in the long run.”

Furthermore:

“Until proven otherwise, it is nearly impossible to distinguish between the Altcoin Season and pump-and-dump schemes. Since most of the currencies gaining value during this season are currencies which usually serve no purpose, have no real use case, or no clear future, it is only normal they will be referred to as sh*tcoins. As such, one has to adjust the expectations of what an Altcoin Season is and isn’t.”

So, what should you do during Altcoin Season?
Ask yourself, does this look like a pump and dump? Don’t buy in straight away, just keep your eye on what happens, check the news and see what might be driving a particular altcoin and do your research. Invest small amounts and concentrate on movements. Ask, was this surge expected? See how the surge is affecting other areas in the market.
You need to stay focused and trade well in order to make the most of altcoin season, hold on tight and make wise choices, based on your own prior investments and your own research.
Source: Crypto Daily

The Bridge Between AI And Bitcoin

There are clear comparisons that can be made between Artificial Intelligence and Bitcoin, as well as other cryptocurrencies. Generally speaking, in itself the blockchain is a primary form of artificial intelligence, as it is able to make decisions and does include some aspects machine based learning, though in the future we expect that the blockchain will become more integrated with AI technologies, neural networks, deep learning and that sort of thing.
What is AI?
Artificial Intelligence, or AI is dubbed as the next technological revolution, first we had the data revolution and now, computers are able to manage and manipulate that data themselves, hence the ‘intelligence’. According to Techopedia:

“Knowledge engineering is a core part of AI research. Machines can often act and react like humans only if they have abundant information relating to the world. Artificial intelligence must have access to objects, categories, properties and relations between all of them to implement knowledge engineering. Initiating common sense, reasoning and problem-solving power in machines is a difficult and tedious task. Machine learning is also a core part of AI.”

Cryptocurrency and blockchain firms are already exploring how AI can help improve their products and services. Indeed, the development of the blockchain does have big implications for the future of AI and Machine Learning too, especially when we consider data storage and fast access. The blockchain allows huge amounts of data to be stored securely and of course, shared across other entities on that network. These entities, could very well be computers or programmes that have been built to learn from the blockchain, and thus, we see a huge amount of information spread that these programmes can learn from, making Artificial Intelligence, better.
According to Bitcoin.com, Danil Myakin, the co-founder of Squilla Capital, a crypto analytics service, there’s a huge surge in the number of applications that blockchain technology, cryptocurrency and Artificial Intelligence share:

“Human bias is almost impossible to eliminate. People trade on their emotions, often unwittingly. Data-based decision-making eliminates the noise that can cloud people’s judgement, preventing them from acting rationally, and focuses solely on the signal.”

Furthermore:

“Provided you have a large enough sample set, computers that have been trained using machine learning will consistently derive more accurate insights than humans. In recent years, this theory has been proven in every major financial market, and it’s now being applied to the cryptoconomy with equally convincing results.”

These are two technologies that are growing and seeing expansion at an alarming rate. When the two industries fully collide, a huge number of new and exciting products will be created. This is great for the adoption of Bitcoin and cryptocurrencies and also has positive implications for the development of our everyday technologies too, such as the smartphone which is now seeing more AI based implementations than ever before.
Source: Crypto Daily

Weiss Ratings: Stellar Is Superior To XRP

Earlier this week, XLM got a listing on Coinbase Pro which is great for the team over at Stellar. The listing came just a few weeks after Ripple’s XRP got supported on the platform which has caught the eye of Weiss Ratings that recently started to venture into the cryptocurrency world.
In a Twitter post following the listing of XLM, the company said that the crypto could potentially see a lot more adoption as it is “superior” to XRP. Among the top cryptocurrencies, XRP and XLM seem to share the common goal of facilitating cross-border payment and that automatically puts them in the running.

#Stellar joins #XRP on #Coinbase Pro in all states except NY, makes it easier to purchase. This will hopefully bring more adoption to Stellar – it’s superior tech compared to XRP.  #XLM
— Weiss Ratings (@WeissRatings) March 14, 2019
Up to now, Ripple has been the lead project in terms of cross-border payments and Weiss Ratings has acknowledged this by praising the project for their quality services when it comes to payments. It is believed that Ripple has more than 200 institutional clients around the world and counting. More potential clients are on the line such as the London based eToro exchange.
And so the fact that Weiss Ratings would say that Stellar’s technology is superior to that of XRP is something that comes as a surprise. For those that don’t know, Stellar is an open source project that is of course, decentralised. Plus, it allows cryptocurrency to fiat transfers for any pair on an international level.
Ripple is a very popular cryptocurrency in the space (for better or worse), something that Stellar hasn’t seen even half of. Although this is for unclear reasons despite the fact that the technology might be better than that of Ripple. Clearly, it doesn’t have a high number of clients like Ripple that has hundreds and claims to register at least three more every week.
This listing on Coinbase could provide an opportunity for Stellar to advertise itself to be bigger due to the increasing demand for payments services between crypto and fiat.
Source: Crypto Daily

Binance Coin Triples Its Value In Outstanding Performance

Something has happened with the crypto space over the past few weeks. Bitcoin surged over $4,000 but has since sunk back to its current price of $3,929. However, when it comes to Binance, the cryptocurrency boom seems to be well and truly alive.
Binance is the biggest exchange for crypto and digital assets by trading volume and their cryptocurrency, Binance Coin is one of the hottest coins in the space right now. Over the past three months, the digital asset has more than tripled in value around the $15 mark which is a big improvement in comparison to the other coins and tokens in the market.
It seems that this surge has come as the broader digital-asset market hasn’t changed much in the wake of last year’s collapse that saw the prices of many rivals fall by around ninety percent.
The bullish performance of Binance Coin is coupled with the incredible rise of Changpeng Zhao who co-founded the exchange during the 2017 boom that sent BTC over $20,000. CZ, as he likes to be called, has had run-ins with authorities in Hong Kong and Japan before eventually decamping to the European island nation.
A managing partner at the hedge fund Multicoin Capital Management in Austin, Tushar Jain said “this is the best executing team in crypto… we expect to hold them for the foreseeable future.”
For those that are unaware, Binance Coin is used by holders in order to pay the fees levied by the exchange for trading. In addition, the cryptocurrency is on its way to becoming a favourite medium of exchange for issuers of initial coin offerings, allowing startups to raise money by listing on one of the most liquid crypto exchanges with more than $1 billion in daily trading volume.
What makes Binance Coin (BNB) specifically stand out is the firm’s practice of trying the performance of the exchange to the number of tokens in circulation.
CZ has said in an interview that about fifty percent of the coins were allocated to firm employees and investors. “we are in the same boat. We don’t want the price to drop, to be negatively impacted. We are very much aligned with our investors.”
Source: Crypto Daily

Mt. Gox CEO Gets Sentenced

Earlier this week we did an article that the former head of the Mt. Gox crypto exchange was to see jail time by today (15th March). The Tokyo District Court has now sentenced Mark Karpeles to two and a half years in prison, suspended for four years.
Based in Japan, Mt. Gox was one of the biggest digital currency exchange operators across the globe.
The French-born CEO of the exchange was given a suspended jail sentence for manipulating Mt. Gox’s Bitcoin trade data but acquitted of embezzlement and violating corporate law by committing an aggravated breach of trust. Prosecutors had demanded a ten-year jail sentence.
The Karpeles case involved significant amounts of Bitcoin that vanished from the virtual banks of the exchange over five years ago. The case is still under investigation and is now undergoing civil rehabilitation procedures after the firm declared their bankruptcy in 2014.
The former CEO pleaded his innocence to all the charges put against him and he denied any involvement in the disappearance of the cryptocurrency by claiming that hackers had stolen the assets.
The Metropolitan Police Department in Tokyo have been investigating the case but has so far not been able to establish the reasons behind the disappearance.
At issue in the trail was an offence over fund manipulation not directly related to the missing currency. Karpeles’ defense lawyers also stressed that “the content of the indictment is totally unrelated to Mt. Gox’s failure.”
The indictment claimed that the 33-year-old embezzled around $3 million by transferring funds that customers held with Mt. Gox to his and other accounts between September and December 2013. Allegedly, Karpeles used it for business purchases, living expenses, furniture and luxuries.
The prosecution added violation of the companies act, through aggravated breach of trust as a preliminary count.
Karpeles insisted that he had not used customers’ money illicitly. As we say, he pleaded his innocence and claimed that the money had been booked as loans to him by his company that he intended to settle at a later date. The court ruled that Karpeles had accessed the firm’s trading system between February and September 2013 and falsified data to show that more than $33 million had supposedly been credited to his accounts.
Source: Crypto Daily