Ripple’s class-action lawsuit takes a step further as court sets schedule for next year

Ripple’s long-pending class action lawsuit has taken a step further as the courts have denied the plaintiff’s motion to move the case to the state courts and asked the plaintiffs to appoint a lead plaintiff/class representative.
There are four cases against Ripple that allege that XRP is a security and that Ripple violated state and federal laws by failing to register it as a security. The four cases were brought forward by Zakinov, Oconer, Coffey, and Greenwald.
Jake Chervinsky, a lawyer at Kobre & Kim LLP, tweeted the developments:
“Last month, the federal court denied the plaintiffs’ motions to return to state court, so the case will now stay federal.
At the time, I called this a “minor but meaningful” victory for Ripple. It’s a battle they fought hard to win, but a small one at the start of a long war.”
The judgment on the class action suit as explained by Jake Chervinsky is binding on the whole class. If Ripple resolved one class action, it would mean that XRP wouldn’t be labeled as “security” for all the plaintiffs.
The court has set a schedule for the litigation this year and the next phase of litigation include appointing a lead plaintiff, re-filing a consolidated complaint, and responding to the complaint. The court has provided the plaintiffs until May 20, 2019, to appoint a lead plaintiff and select a counsel for representing the class lead plaintiff.
Jake Chervinsky explained the next step in his tweet:
“… after lead plaintiff & lead counsel are appointed, the Court’s order gives them 45 days to file a new consolidated complaint asserting every legal violation that the class believes Ripple committed. At the very earliest, the consolidated complaint will be due in July.”
Ripple will be provided 45 days to respond to the consolidated complaint by the lead plaintiff, and it could take until September 2019 for Ripple to come up with a response on the matter. As suggested by Chervinsky, Ripple could also respond to the complaint by motion to dismiss, giving Ripple 30 additional days to reply.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Bullish movement imminent as token exhibits positive price fluctuation

The fourth largest coin on CoinMarketCap, Litecoin [LTC] was trading within the $59-$63 range last week, witnessing significant surges that breached the coin’s resistances. The bulls, however, failed to push the coin above the anticipated $65 mark.
At press time, the crypto asset held a market cap of $3.67 billion and was priced at $60.16. The digital silver registered a 24-hour trading volume of $1.66 billion. LTC exhibited a growth of 1.66% against the US dollar over the past 24 hours, while it fell by 1.50% over the past seven days.
Coinall contributed the highest trading volume for the coin, accounting for 9.10% via the LTC/BTC trading pair. It was followed by Coinall with 4.88% of the trading volume.
1-hour
Source: TradingView
Litecoin’s one-hour chart exhibited an uptrend from $58.85 to $60.98, while another uptrend from $57.34 to $60.85 was later recorded after a brief bear run. A small downtrend from $62.90-$60.83 was registered on the chart. The support for the coin was found at $56.74, while the resistance was at $65.
Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.
Awesome Oscillator: The closing bars of the indicator were green, indicating bullish price momentum for Litecoin.
Klinger Oscillator: Post a bearish crossover, the reading line continued to tread below the signal line.
1-day
Source: TradingView
The candlestick arrangement on LTC’s one-day chart exhibited an uptrend from $32.79 to $45.68, and a longer downtrend from $55.82 to $34.08. The immediate resistance for the digital asset was marked at $67.78, while the immediate support stood firmly at $30.55 and $24.10.
Parabolic SAR: The dotted markers were below the candlesticks and predicted a bullish movement for the coin.
Chaikin Money Flow: The CMF continued to tread well above the zero-line, indicating money inflow into the LTC coin market. Hence, a bullish price trend was predicted for the coin.
MACD: Post a bearish crossover, the MACD line was treading below the signal line.
Conclusion
The short-term indicators for Litecoin [LTC] exhibited mixed signals, with significant volatility and potential price breakouts being predicted. The long-term indicators projected bullish pattern for the digital crypto’s price.
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Source: AMB Crypto

Bitwise’s report to SEC suggests unregulated crypto exchanges fake 95% of Bitcoin [BTC] trading volume

Bitwise Asset management is in the news after it informed the United States’ Securities and Exchange Commission [SEC] that 95 percent of Bitcoin [BTC] trading volume reported by unregulated cryptocurrency exchanges were fake or non-economic in nature.
The report dated 20 March was submitted to the SEC in line with a rule change as part of their application to launch a Bitcoin Exchange Traded Fund [ETF]. Bitwise’s proposal is yet to receive any response from the SEC.
Data for 81 exchanges recording a trading volume of more than $1 million per day were included in the study. Using exchange data from CoinMarketCap, Bitwise argued,
“Despite its widespread use, the CoinMarketCap.com data is wrong. It includes a large amount of fake and/or non-economic trading volume, thereby giving a fundamentally mistaken impression of the true size and nature of the bitcoin market.”
According to the analysis, the per day Bitcoin trading volume accounted for about $6 billion, in terms of spot markets. However, this figure is misleading, the report said. It adds,
“The vast majority of this reported volume is fake and/or non-economic wash trading.”
This “vast majority” accounts for approximately 95% of the total volume. Bitcoin’s actual market, if the wash trading is not accounted for, is lot smaller, orderly and more regulated than is actually reported.
Bitwise juxtaposed the workings of Coinbase Pro, which they deemed a “real exchange,” and CoinBene, the exchange with the highest BTC volume and deemed a “suspicious exchange.” The former reported $27 million in BTC volume on a per day basis, when compared to the $480 million daily BTC volume recorded on CoinBene.
The report compared the two exchanges’ trade printing on their respective website, web traffic and real-world footprint, suggesting that there was a lack of clarity with exchanges like CoinBene, compared to regulated ones like Coinbase Pro.
“It is surprising that an exchange claiming 18x more volume than Coinbase Pro would have a spread that is 3400x larger.”
On analyzing the hourly candlesticks of “suspicious exchanges,” Bitwise noted that the arrangement and sizes were fairly consistent and hence, did not depict real-time activity. The report cited the example of CHAOEX, which poses an average daily volume of $70 million and indicates a monotonic chart i.e. showing identical volume valuations every hour of the day.
“This volume pattern is insensitive to price movements, news, waking hours, weekends, or other real world factors.”
Despite the false trading volumes, the Bitcoin market “was uniquely resistant to market manipulation,” the report said.  It argued that the market was structured in such a way that outlier coins and unregulated exchanges cannot exert unnecessary control on the collective coin market.
“We have demonstrated that the bitcoin market is an extremely well-arbitraged market, with a proven ability to ignore outlier prices, and that both the fundamental market structure and our specific NAV calculation methodology provide unique protections against potential efforts to manipulate that market.”
Coincidentally, the Bitwise report comes in the same week as a report from The Tie, which stated that some exchanges faked trading volume to attract users to their platform. The main culprits here were BitMAX, LBank, BW, and ZBG. According to the findings, the expected volume of these exchanges was less than 1 percent of their reported volumes.
Several cryptocurrency proponents praised Bitwise’s report and its findings. Anthony Pompliano, the Co-founder and Managing Partner at Morgan Creek Digital stated,
“This report is really important. Please read it.
I couldn’t be more proud to be an investor in @HHorsley @Matt_Hougan @teddyfuse @martha_shear and @BitwiseInvest today”
Jeremy Allaire, the Co-founder and CEO of Circle stated that a report like this was an important precursor for the crypto-market to go mainstream,
“Great work from @BitwiseInvest helping the market understand what’s real and what’s fake. If we want crypto capital markets to go mainstream we need data investors can believe in.”
Tushar Jain, the Managing Partner at MultiCoinCap suggested action against CoinMarketCap,
“This excellent research from Bitwise shows how @CoinMarketCap is completely (and perhaps deliberately) misleading users on exchange volumes. This atrocious behavior from CoinMarketCap deserves some attention from law enforcement.”
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Source: AMB Crypto

IOTA [MIOTA] surges by 7% as retail expansion prospects brighten following Zeux App integration

IOTA [MIOTA], the 14th largest coin in the market was buoyed by its recent integration with the Zeux platform, resulting in the coin surging by 7% against the US Dollar. The coin closed the gap with the privacy-centric Monero [XMR], and trailed the latter by $15 million, at press time.
Zeux announced the MIOTA addition on 21 March via a Medium blog post, and added that this integration will boost the coin’s retail use. Merchants that cater to Apple Pay and Samsung Pay users will now accept MIOTA as well.
The Zeux platform will roll out in Europe by April, and will enter the US in 2020. The application claims to be a “digital banking solution for both fiat and cryptocurrencies,” and plans on tying up with several merchants at the retail level. Zeux already received its license from the UK’s top regulatory body, the Financial Conduct Authority.
Their tweet announcing the integration stated,
Source: Twitter
Frank Zhou, Founder and CEO of Zeux, believes that the partnership will help propel cryptocurrencies into mainstream retail use. Zhou is looking forward to working with IOTA’s Tangle technology, a Distributed Ledger Technology [DLT] facilitating machine-to-machine interactions, seamless micropayments, and data transfers. Referencing Tangle, he said,
“As a distributed ledger with zero transaction fees, The Tangle is a very promising chain for us to build our customer data Dapp.”
Source: Trading View
IOTA was trading at a stagnant price level of $0.291, with a brief surge to $0.302 on 16 March. After dropping to $0.285, the coin later saw a massive increase of 7.97 percent and pushed the price to $0.308.
The rise continued with the coin reaching $0.315 in the next six hours, peaking at $0.323 on 22 March. At press time, the coin was trading at $0.319. This was the coin’s highest price since 24 February.
In terms of market capitalization, the coin was hovering around the $830 million mark, prior to a drop to $806 million. Following this, the coin’s valuation shot up to $876 million, peaking at $899 million. At press time, the market cap had dropped by over $10 million, and was valued at $887 million.
The South Korean exchange, UPbit, took the top spot in terms of IOTA trade volume, accounting for over 27.6 percent of the total volume in the trading pair IOTA/KRW. Other prominent exchanges in the MIOTA market were Binance, Bitfinex, and Huobi Global.
Zeux had previously integrated Qtum [QTUM] on its application, resulting in a whopping 36 percent price hike for the coin.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Price breakout imminent as bears control silver coin

The fourth largest coin on CoinMarketCap, Litecoin [LTC] was trading within the $59- $62 range after a short surge.
At press time, the crypto asset held a market cap of $3.60 billion, and was priced at $59.12. The crypto asset registered a 24-hour trading volume of $1.74 billion. LTC exhibited a decline of 2.32% against the US dollar over the past 24 hours, while a growth rate of 3.98% was recorded over the past seven days.
Coineal contributed the highest trading volume for the coin, accounting for 7.98% via the LTC/BTC trading pair. It was followed by Coinall and DigiFinex with 4.22% and 3,66% of the trading volume, respectively.
1-hour
Source: TradingView
Litecoin’s one-hour chart showed an uptrend from $52.39 to $55.86, and another uptrend from $57.90 to $60.29, fueled by the coin’s recent bull run. A downtrend from $55.82-$34.08 was registered on the chart. The support for the coin was found at $52.39.
Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.
Awesome Oscillator: The closing bars of the indicator were red, indicating a bearish price momentum for the crypto asset.
Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the LTC coin market. Hence, a bullish price trend was predicted for the coin.
1-day
Source: TradingView
The candlestick arrangement on LTC’s one-day chart exhibited an uptrend from $32.79 to $45.68, and a longer downtrend from $55.82 to $34.08. The immediate resistance for the digital asset was marked at $67.78, while the immediate support stood firmly at $30.55 and at $24.10.
Parabolic SAR: The dotted markers were below the candlesticks, and pictured the coin in a bullish environment.
MACD: Post a bearish crossover, the MACD line was treading below the signal line.
Klinger Oscillator: The KO indicator also sustained a bearish crossover, following which the reading line was below the signal line.
Conclusion
The short-term indicators for Litecoin [LTC] exhibited mixed signals, with significant volatility and potential price breakouts being predicted. The long-term indicators echoed strong bearish projections for the digital crypto’s price.
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Source: AMB Crypto

JP Morgan’s Global Head of E-Commerce elucidates on the difference between crypto and blockchain

Ron Karpovich, the Global Head of e-commerce at JP Morgan, said that blockchain technology could enhance existing payment channels.
In a recent interview with CNBC, Karpovich pointed out that there is a difference between trading an existing digital asset and using its core technology to enhance the payment infrastructures by executing payment settlements efficiently at a cheaper rate.
He also added that the payment system deployed by leveraging blockchain tech would not be visible to consumers who will just have to choose a preferred payment mode. Only the end result of cheaper and instant settlements would be experienced by the users, he said.
While the crypto community vouches for a payment system that is secure, fast, cost-effective, and decentralized, with no third-party interventions, Karpovich is of the opinion that ultimately, for any payment to settle, a banking establishment is important. JP Morgan’s anti-crypto rhetoric in the past and its foray into the market with its own coin is something worth noticing.
JPM Coin, which is currently reserved for institutional clients is a product of JP Morgan. The financial behemoth has historically been one of the biggest critics of Bitcoin. The company had previously published reports on the cryptocurrency market in general, with its analysts stating that Bitcoin might be effective in a dystopian future.
Jamie Dimon, the CEO of JP Morgan, previously called Bitcoin a fraud. Apologizing for the same earlier this year, he stated that he believed in the underlying technology. He said,
“I didn’t want to be the spokesman against Bitcoin. I don’t really give a sh*t, that’s the point. Blockchain is real, it’s technology, but Bitcoin is not the same as a fiat currency.”
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Source: AMB Crypto

xRapid will not ‘flip the switch’ on XRP price, say prominent XRP community enthusiasts

XRP, the cryptocurrency closely related with the company Ripple, has been at the center of speculation and arguments, with respect to xRapid and XRP’s price.
There have been a lot of accounts on Twitter promoting the fact that the price of XRP will rise and shoot to the moon, after banks and financial institutions start using xRapid for cross-border payments.
The most famous theory put out by people was the price of XRP hitting $589 by the end of 2018, which didn’t happen.
However, a recent conversation started by prominent XRP enthusiasts, has suggested that xRapid would not massively affect the price of XRP.
Nayer Malik [@sinjunsmyth], a Twitter user, stated,
“@galgitron @Hodor @jungleincxrp @C3_Nik …Guys what r ur thoughts on Bob Way’s view regarding X-Rapid usage not increasing the price in and of itself?”
In response, Galgitron [@galgitron], a prominent XRP enthusiast and a contributor to the XRP community, added that he had “been saying that all along.” In one of his blogs Galgitron stated,
“Sure, there may be some massive FOMO buy-in once banks announce they are starting to use xRapid, and that will send the monkey [price action] hundreds of feet into the air, but, only speculation creates parabolics..”
C3|Nik [@C3_Nik] acknowledged the above and replied,
“It was seen like blasphemy to say that xRapid would not move prices that much by itself (e.g. “not the flip-the-switch kind of event”). It is interesting that the people who spread that narrative and misled others still have so many followers. Selling dreams.”
A Twitter user, @Crypt_Megalodon, voiced his opinion, which was different from the others. He tweeted,
“Well when you consider the US money supply being 15 trillion alone, the XRP cap doesn’t worry me. If/when XRP becomes the standard world wide, inflation will be rapid with mass adoption. I agree, with years, but, the value can be prodigious! The cryptoloution has already started.”
Considering the price of XRP at press time was only $0.31, and that there were more than a couple of Ripple customers that had already started using xRapid for cross-border transactions, the increase in the price of XRP due to xRapid seemed highly unlikely.
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Source: AMB Crypto

Cardano [ADA] Price Analysis: Coin’s price to move upwards in the long term

The eleventh largest coin on CoinMarketCap, Cardano [ADA], was trading within the $45 to $54 range during the past week.
At press time, the crypto asset held a market cap of $1.42 billion, and was priced at $0.054. The digital asset registered a 24-hour trading volume of $49.48 million. ADA exhibited a growth of 2.16% against the US dollar over the past 24 hours, while a significant growth rate of 16.01% was recorded over the past seven days.
The Cardano community previously announced the integration of Ledger hardware wallet into the ADA ecosystem in order to address scalability, interoperability, and sustainability issues.
It has also been speculated that Coinbase Pro would add support for ADA, by the end of 2019’s second quarter.
1-hour
Source: TradingView
ADA’s one-hour chart exhibited an uptrend from $0.047 to $0.050, and another uptrend from $0.050 to $0.054, which can be attributed to the aforementioned upgrades. No significant downtrend was observed on the chart, following the bullish recovery last week. The immediate resistance was at $0.055. The support for the coin was found at $0.047.
Bollinger Bands: The mouth of the bands depicted high volatility in the coin’s price
Awesome Oscillator: The closing bars of the indicator were green and suggested bullish price momentum for Cardano.
Chaikin Money Flow: The CMF continued to tread above the zero-line, indicating that money was flowing into the ADA coin market. Hence, a bullish price pattern was pictured for the crypto asset.
1-day
Source: TradingView
The candlestick arrangement on the one-day chart of ADA showed a minor uptrend from $0.029 to $0.043, and a major downtrend from $0.12 to $0.049. The immediate resistance for the digital asset was marked at $0.105, while the immediate support stood firmly at $0.038 and at $0.029.
Parabolic SAR: The dotted markers were below the candlesticks, and indicated that the coin was following a bullish trail.
MACD: The MACD line was above the signal line and depicted a bullish course for Cardano’s price.
Klinger Oscillator: The reading line was also above the signal line for KO, posting a bullish pattern for the crypto coin.
Conclusion
The short-term indicators for Cardano [ADA] exhibited mixed signals with high volatility and possible price breakouts. The long-term indicators, however, projected strong bullish pattern for the coin’s price.
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Source: AMB Crypto

Anthony Pompliano’s Morgan Creek Digital Capital makes strategic investment propagating mass crypto adoption

The cryptocurrency market was helped along in its pursuit of mass adoption, with many proponents of the space lending a helping hand. The latest news about the bigger players in the cryptoverse included the tie-up between Morgan Creek Digital Capital and Ikigai Asset Management.
The official release stated,
“Morgan Creek Digital announced today that it will be the lead anchor investor in Ikigai Asset Management’s flagship fund focused on executing systematic and fundamental liquid hedge fund strategies as well as opportunistic venture-stage crypto asset investments. Ikigai is a crypto asset management firm launched in December 2018 by former Point72 Portfolio Manager Travis Kling and partners Timothy Lewis, and Anthony Emtman.”
Morgan Creek Digital partner, Anthony Pompliano, is a voracious supporter of Bitcoin, and has held a bullish viewpoint about the world’s largest cryptocurrency. Post the partnership with Ikigai, Pompliano talked about the company’s  positive devleopments, and claimed that they were well-positioned to capture the outstanding returns brought by cryptocurrencies in the coming future.
Ikigai Chief Investment Officer Travis Kling said,
“DLT and crypto assets are fundamentally changing our world. We are honored to receive this investment from Morgan Creek Digital and look forward to working closely together with Mark, Jason, and Pomp in this exciting arena.”
Pompliano recently sat down with Galaxy Digital’s Mike Novogratz to discuss elements like liquidity, trust and custody that need to be given a boost. Novogratz stated that the cryptocurrency market was presently a booming place of business, especially with the entry of companies like JP Morgan, Telegram and Facebook. He further claimed that it was a big opportunity to invest, with Wall Street sentiments changing. The Galaxy Digital CEO added,
“Wall street earlier thought that you shouldn’t take risks on something small like cryptocurrencies. They are getting close though, not doing anything but are getting really ready. We are anyway working hard on the security token business and I promise you this, the upcoming tokens and ICOs will be a lot bigger but less sexy.”
 
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Source: AMB Crypto

XRP/USD Price Analysis: Coin stagnates even after massive adoption news

The third largest cryptocurrency, XRP, was moving sideways for almost two months, without any price surge or drop. The price was stuck between a support and a resistance, and it didn’t look like it will break out any time soon.
The price of XRP at press time was $0.3217, while the market cap was at $13 billion. The 24-hour trading volume was $801 million. A huge chunk of the trading volume for XRP was coming from ZBG exchange. It contributed a total of $92 million in trading volume, via the XRP/USDT trade pair.
1-hour
Source: TradingView
The hourly chart for XRP showed an uptrend that extended from $0.3072 to $0.3187, while the downtrend extended from $0.3445 to $0.3257. The immediate support was at $0.31608, while the subsequent supports were at $0.3038 and $0.2928. The immediate resistance was at $0.3260.
The Bollinger Bands were undergoing a squeeze and indicated a reduction in the volatility of XRP. The price was dipping into the simple moving average, and indicated that the market was bearish.
The Stochastic RSI indicator showed a bearish scenario as well, but a stronger one when compared to the Bollinger Bands.
1-day
Source: TradingView
The one-day chart of XRP showed a downtrend that extended from $0.9027 to $0.3220. The price of XRP in the longer time frame showed the support at $0.2587. The resistance points for XRP were at $0.5836, $0.6880, and $0.9027.
The MACD indicator showed a declining uptrend i..e, the green Aroon line. The Aroon downtrend line was also reducing.
The Chaikin Money Flow indicator showed a subzero CMF line, which signified that money was flowing out of the XRP market.
The Relative Strength Index showed a stagnant RSI line at the 50-line, where the momentum of sellers and buyers were equal.
Conclusion
The one-hour chart showed bearish pressure for XRP incoming, as indicated by the Bollinger Bands and Stochastic RSI indicators. The CMF, Aroon and the Relative Strength indicator showed a bearish trend for XRP as well.
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Source: AMB Crypto

Binance is going country-hunting in search of their ‘regulatory paradise’, says report

Binance, one of the world’s largest cryptocurrency exchanges has been hopping in and out of several countries in search of the right regulatory environment for cryptocurrency trading, stated many cryptocurrency executives, according to Decrypt Media.
In the past two years, the exchange has seen its core-operations move in and out of China, Japan, Singapore, Bermuda and now, has shifted to the island nation of Malta. The report stated that this constant shuffle was for regulatory comfort and not for a better-decentralized model.
Ari Paul, CIO and managing partner of Blocktower Capital, called this regulatory chase one that the exchange will continue until it reaches its goal of “diplomatic immunity” with a compliant government.
The claim made by Paul could be attested by the exchange’s own words. In a March 2018 Medium Post, Binance stated:
“Any country that can attract Binance to open a branch in their location will receive a handsome tax income revenue.”
Prior to the China crackdown on cryptocurrency companies, Binance looked to shift its operations to Japan, but was met with the iron fist of the country’s Financial Services Agency. Binance was initially operating without a license, but the FSA issued a warning to the exchange on the grounds of failing to perform identity checks of their Japanese investors.
Even when it comes to their native token Binance Coin [BNB], cryptocurrency executives are not fully convinced, especially from a regulatory standpoint. The exchange maintains that the token is separate from the workings of the exchange, but some, like Scalar Capital’s co-founder Linda Xie, view this as a more mainstream financial product. She said,
“I have some concerns on the regulatory side with BNB, because you have this pseudo-equity model, where you have the cash flows of the company that are kind of tied to the valuation of the token. You have this situation where they’re taking their cash flows, they’re buying up BNB and then burning it.”
Xie added that there were definitely negative regulatory implications for the exchange with respect to their token due to the seemingly direct valuation link between the two. She further added that Binance dodging regulations was a reason for its success, but will also be a flaw in the long-run.
Paul added to his earlier point stating that Binance’s scurry from country to country will continue until it finds a nation that allows it “diplomatic immunity”. He added:
“They’ve been cozying up to some of the government they’ve been working at. I think the way they end up evading regulatory accountability is probably something like regulatory capture at the national level—like, capturing the regulators of a place like Malta or Singapore and getting literally an ambassadorship or government post.”
In October 2018, the investment fund of the Singapore government funded Binance’s expansion in the country. Vertex Ventures, a limited partner with Temasek Holdings, the wealth fund of the city-state backed the Binance Singapore project to push its expansion into Southeast Asia.
Furthermore, with regulatory pressure climbing, Binance, in September 2018, moved to Malta and subsequently signed a Memorandum of Understanding [MoU] with the country’s national stock exchange. The move was due to the country’s positive attitude to blockchain and cryptocurrency.
During the move Changpeng Zhao, the CEO of the exchange, stated:
“So we are registered in multiple locations and we have people in multiple locations. That way we will never be affected by one regulatory body.”
Kyle Samani, the managing partner at Multicoin Capital, questioned the regulatory recourse financial watchdogs could take if they do find malfeasance on Binance’s part. Samani said,
“One of the biggest challenges right now, if you’re a regulator out there, is it’s unclear how enforce meaningful penalties on Binance.”
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Source: AMB Crypto

XRP: Coin gets adoption push as developments in ecosystem reach all-time high

XRP, the third largest cryptocurrency in the world, is fast approaching massive adoption as developers and other creators huddle together and add value to the XRP environment.
Rain is a Sharia-compliant cryptocurrency exchange in the Middle East, and XRP made its way onto the platform on 21 March, 2019. XRP is the fourth cryptocurrency listed on the exchange, after Bitcoin [BTC], Ethereum [ETH], and Litecoin [LTC].
According to the Saudi Gazette, Rain graduated from the Central Bank of Bahrain’s (CBB) Regulatory Sandbox on 26 February, 2019. The Saudi Gazette stated,
“To add more legitimacy and gain the trust of its customers, Rain also announced that it had passed a Sharia compliance certification. The Sharia-compliance certification was completed by Shariyah Review Bureau (SRB). SRB is licensed by the Central Bank of Bahrain as a Sharia Advisory firm authorized to issue Sharia compliance certifications.”
XRP Adoption
Microsoft Outlook
A developer, SchalaubiDev, recently developed an add-on for Microsoft Outlook, which would allow users to send XRP to other users easily. This add-on is currently up and running on Outlook 2016, with support for Office 365 in the works. The developer also added that the same functionality would be added to Gmail as well.
PayGlobal
XRP is being accepted by various exchanges around the world, the most recent in the ecosystem being the coin getting added to PayGlobal’s ATM bank card payouts.

UPDATE: Community asked for it, and they now get it. XRP is now live on @Payglobalme You can easily exchange XRP to fiat and send to your existing bank card or bank account and in the UK you can get cash at ATM's with no bank card needed. #XRP #buidl #Crypto pic.twitter.com/NKekgFIdzN
— PayGlobal (@Payglobalme) March 19, 2019

The addition of XRP on its platform came nine days after a poll conducted by PayGlobal. With PayGlobal, users can directly shift from crypto to fiat using their existing bank cards.
Price of XRP 
David Schwartz, the CTO of Ripple, spoke at the SXSW Conference recently, giving his insights on Ripple, XRP, and the things that the company is focusing on. He wanted XRP’s price to be linked not to the company Ripple, but to the ecosystem concerning XRP and Ripple. He added that the price of XRP might be tied to the success of Ripple.
An XRP enthusiast, XRP Research Center, tweeted,

This week
17@SchlaubiD TipBot-Outlook
18@coinberryio @2gether_global add XRP@BinanceJE XRP soon
19@Payglobalme @digitec_de @Galaxus @VALRdotcom add XRP@WietseWind XRP Fund suggestions@InstaReMit raises 20M
20@travalacom @rainfinancial add XRP@MoneyNetInt: @ThePaypers
— XRP Research Center (@XrpCenter) March 20, 2019

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Source: AMB Crypto

Bitcoin [BTC]: Dubai gets its first ATM; users can acquire BTC using any fiat currency

Bitcoin [BTC], the largest cryptocurrency in the world is making progress with its Lightning Network payments solutions, and is trying to tackle scalability issues while also awaiting Bitcoin ETF approval by the SEC.
Now, according to recent reports, the first Bitcoin ATM in the Middle East has been installed in Dubai, the largest and most populated city in the United Arab of Emirates. The people of Dubai and tourists who visit the prime tourist destination will now be able to deposit fiat currency, and receive Bitcoins [BTC] in their digital wallets.
Source: Twitter
Amhora, a blockchain search engine, announced on Twitter that the organization installed the ATM at Rixos Premium in JBR, Marina, Dubai. The tweet also gave a shout out to the ATM manufacturer, Lamassu, which was responsible for the hardware setup.
Anhad Dhingra, CEO of Amhora, emphasized the importance of the installation, and how it could potentially simplify the purchase of Bitcoin for the people of UAE. He mentioned that it was the first Bitcoin ATM in Dubai, and said that the company was looking forward to adding more ATMs in and around the city.
Amhora stated that it would receive a 5 percent commission on every purchase made through the crypto ATM. The machine provides a simple solution for tourists who would, in most cases, acquire Bitcoin with their foreign fiat currencies itself, rather than using the local fiat currency, Dirham.
The Bitcoin ATM has been programmed to offer only Bitcoin purchases using traditional fiat currency. At press time, the ATM did not have the feature or support for selling cryptocurrencies on the system. However, the company mentioned that it was going to roll out new updates and features soon.
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Source: AMB Crypto

Bitcoin [BTC]: Mike Novogratz says people should bow down to Satoshi Nakamoto and thank him

Bitcoin advocate and billionaire Mike Novogratz was in the news again after he said that people should bow down to Bitcoin’s creator, Satoshi Nakamoto, and thank him for the world’s largest cryptocurrency. A leading voice in the crypto ecosystem, Novogratz appeared in an exclusive video with the founder of Morgan Creek Digital, Anthony Pompliano.
Novogratz is of the opinion that all kinds of funds, be it crypto or hedge, should own some amount of Bitcoin. He also called the digital asset “sovereign money”. Talking about BTC’s fundamental technology, the blockchain, he added that Bitcoin, originally a social experiment, had become “sovereign money” and held a market cap of $71.80 billion.
Novogratz also drew parallels with gold, a store of value. Novogratz claimed,
“Bitcoin provides a really interesting alternative to gold.”
He was previously in the news when he claimed Bitcoin will eventually become the digital gold, at the MENA summit 2019.
Bitcoin’s prices rose to breach the $4,000 mark recently, following the recent market surge led by the market’s altcoins. There is architecture in place to facilitate adoption and accessibility, the billionaire said, predicting that over a period of twenty years, Bitcoin was going to be “in the game.”
Novogratz also serves as a member of the Investment Advisory Committee on Financial Markets, at the Federal Reserve Bank of New York. While talking about his first tryst with Bitcoin as a member of the committee, Novogratz said that the committee viewed cryptocurrency more as a payment system than a currency. However, many in the Federal Reserve did love the idea of blockchain technology as a store of value, he said.
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Source: AMB Crypto

Financial institutions want to build a ‘back office’ using cryptocurrency, says Ledger CEO Eric Larchevêque

Eric Larchevêque, CEO of the hardware wallet manufacturer, Ledger, opined that the entry of financial institutions into the world of decentralized currency and blockchain, is not just for internal administrative purposes. Larchevêque believes that the crypto-technology could be used by institutions to create a “back office.”
In a podcast with Bloomberg, Larchevêque spoke about institutional investors, the fallout of the CBOE cancelling BTC Futures, the need for a hardware wallet, and the introduction of Ledger Nano X.
The Ledger CEO acknowledged the bearish effect of the crypto-winter. However, he remained confident that the market will hold firm, despite several coins dropping in value.
“Despite the collapse of the price in the recent months, the strategies are still very strong.”
Larchevêque stated that the entry of financial institutions into the cryptocurrency realm was not merely based on the underlying technology of the blockchain, as many have touted. He added that both decentralized currency and the process of tokenization will form the pillar of what could be the back office for institutions.
“Most of the financial institutions have a very strong strategy for the future of crypto because it is not only decentralised cryptocurrencies, it’s also tokenization and basically they really want to build a new back office based on this technology.”
The tokenization process, in the form of initial coin offerings [ICOs], was quickly abandoned after many associated crimes came to be known. A report by CipherTrace stated that over $725 million was stolen in 2018, due to fraudulent initial coin offerings, pyramid schemes, and exit schemes.
With the futures trading not shorting the contract on CBOE anymore, Larchevêque also reiterated his belief that the exit of the exchange could be a positive sign for the coin market.
Back when the CME and the CBOE entered the cryptospace in late-2017, the cryptocurrency market “shot to the moon,” leading to a surge in Ledger hardware wallets. During the period, Ledger sold over a million units, despite an expected sales figure of 30,000.
Larchevêque also cited the plethora of “opportunities” for financial institutions in the virtual currency market now, saying that a positive change in the collective market’s value was imminent.
“The future is really aligned with cryptocurrencies, tokenization, they don’t want to miss the next wave.”
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Source: AMB Crypto