Ripple Expands its Outreach Signing Finastra Into Its RippleNet

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Ripple Expands its Outreach Signing Finastra Into Its RippleNet
Ripple Labs Inc enters into partnership with one of the leading global fintech firms Finastra in a win-win scenario for both parties.
Ripple Expands its Outreach Signing Finastra Into Its RippleNet

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Source: CoinSpeaker

Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO

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Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO
Polychain Capital has so far said that it will partner with China Merchants Bank International (CMBI) to contribute $5.7 million to the STO Nervos Network scheduled to kick off on October 16.
Polychain Capital and Chinese Bank Join Hands in the Nervos Network STO

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Source: CoinSpeaker

HSBC Cuts 10,000 Jobs to Curb Its Expenses

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HSBC Cuts 10,000 Jobs to Curb Its Expenses
HSBC job slashing will address those whose positions are high-paid. An official announcement from HSBC will be probably made later this month when the company is to report on its third-quarter results. 
HSBC Cuts 10,000 Jobs to Curb Its Expenses

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Source: CoinSpeaker

Bitcoin Solves This: Hong Kong ATMs Out Of Cash And Panic Over Indian Banks

Escalating political tensions in Hong Kong and a potential economic and banking crisis in India has highlighted how fragile cash savings can be. Naturally Bitcoin would be the answer if adoption was greater and volatility was lower but the pluses for decentralized money are growing.
Hong Kong ATMs Empty
As violence continues to grip the island state it is the innocent that usually suffer first. Videos leaked over social media recently show intensifying attacks from both sides as the situation spirals out of control.
Over the weekend it was also widely reported that ATMs across the Hong Kong were running short of cash. Citizens have started to panic and queues at empty ATMs were starting to form. The updates were also posted on local social media channels.

Run on banks: ATMs out of money across Hong Kong. Many queuing up to withdraw. Many have run out of cash. #HongKongProtests #AntiELAB #FreeHongKong
Should we all line up at ATMs as an act of civil disobedience?
Source- LIHKG pic.twitter.com/DtC9c0toUi
— Hong Kong World City (@HKWORLDCITY) October 5, 2019

The fear from many is that the government will freeze their assets as it bows to Beijing. There is also concern over devaluation of the currency as Hong Kong descends into anarchy. Chief Investment Officer Hayman Capital Management, Kyle Bass, added that account seizures could become a reality as the HK legal system crumbles.

Bank runs all over Hong Kong now. ATM machines running out of cash but there is something more important…failed leader carrie lam(b) can now officially confiscate bank accounts and assets without recourse. The HK legal system is essentially gone. #Bankruns #HKexit https://t.co/jz9sPrA30U
— Kyle Bass (@Jkylebass) October 5, 2019

As alternative forms of currency, such as Bitcoin, become popular Hong Kong’s Securities and Futures Commission has accelerated its crypto asset regulation agenda in a recently published document. The report provided detailed guidance to fund managers on all aspects of handling crypto assets in addition to a framework for dealing with ICOs.
As the crisis deepens more people could turn to Bitcoin as cash becomes a scarce commodity and fears of asset seizures escalate.
Indian Banking Crisis
India is also suffering but its woes are primarily economical. According to reports the Reserve Bank of India slashed its year growth forecast by nearly a full percentage point on Friday. Rate cuts have also occurred as the economy slows and concern grows among its billion plus population.
Rumors have been swirling about the general health of the Indian banking sector and the RBI had to turn to social media in an attempt to reassure customers.

There are rumours in some locations about certain banks including cooperative banks, resulting in anxiety among the depositors. RBI would like to assure the general public that Indian banking system is safe and stable and there is no need to panic on the basis of such rumours.
— ReserveBankOfIndia (@RBI) October 1, 2019

It is not a good sign that the central bank needs to reassure depositors that their funds are safe.
The developments were not lost on Morgan Creek Digital co-founder and partner Anthony Pompliano. He has previously extolled the virtues of Bitcoin as a safeguard against such actions and reiterated that stance recently.
“When you’re worried about your assets being seized or becoming inaccessible to you, Bitcoin’s non-seizability becomes very attractive. This aspect of Bitcoin just became important for 1+ billion people in India & Hong Kong.”
Bitcoin’s volatility is clearly off-putting for many, but the notion that a bank can collapse or a regime can seize funds should be equally as frightening to those that trust them with everything they own.
Image from Shutterstock
The post Bitcoin Solves This: Hong Kong ATMs Out Of Cash And Panic Over Indian Banks appeared first on NewsBTC.
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UK Customers to Enjoy Full GBP Support Following Coinbase Reinstatement

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UK Customers to Enjoy Full GBP Support Following Coinbase Reinstatement
After nearly three months of a blackout, Coinbase’s UK retail and institutional customers can now withdraw and deposit cash within 60 seconds.
UK Customers to Enjoy Full GBP Support Following Coinbase Reinstatement

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Source: CoinSpeaker

U.S. Congressmen Want the Federal Reserve to Consider a Digital Dollar

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U.S. Congressmen Want the Federal Reserve to Consider a Digital Dollar
Two U.S. Congressmen have written to the Federal Reserve, on the possibility of tokenizing the dollar. The Congressmen believe that such a move is inevitable.
U.S. Congressmen Want the Federal Reserve to Consider a Digital Dollar

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Source: CoinSpeaker

PBOC: China’s Digital Currency Not Launching in November

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PBOC: China’s Digital Currency Not Launching in November
PBoC said that there is no planned launch date for their digital currency and declined that there’s a list of member institutions coming together for it.
PBOC: China’s Digital Currency Not Launching in November

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WeWork’s Largest Investor is Plotting to Remove Adam Neumann as CEO

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WeWork’s Largest Investor is Plotting to Remove Adam Neumann as CEO
Following a strange corporate governance structure and other methods, WeWork’s largest investor is now looking to have Adam Neumann removed as CEO.
WeWork’s Largest Investor is Plotting to Remove Adam Neumann as CEO

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Barclays Broke Up with Coinbase and Put Crypto Relations to Cold

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Barclays Broke Up with Coinbase and Put Crypto Relations to Cold
Coinbase’s partnership with Barclays allowed British clients to use Coinbase extensively. The end of this partnership could also potentially end Coinbase users’ access to the UK “Faster Payments Scheme” (FPS).
Barclays Broke Up with Coinbase and Put Crypto Relations to Cold

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Swiss Forex Bank Dukascopy Promotes Adoption of Its DUK+ Crypto

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Swiss Forex Bank Dukascopy Promotes Adoption of Its DUK+ Crypto
Geneva-based Dukascopy Bank – the first bank to issue an Ethereum-based cryptocurrency Dukascoin which serves both as payment and speculative utility.
Swiss Forex Bank Dukascopy Promotes Adoption of Its DUK+ Crypto

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We Will Always Expect Crypto Exchanges to Act Like Our Banks

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We Will Always Expect Crypto Exchanges to Act Like Our Banks
Instead of trying to change human behaviors which is one of the most challenging things we could do, maybe we ought to try and change how exchanges are not able today to fully secure our funds?
We Will Always Expect Crypto Exchanges to Act Like Our Banks

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Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency

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Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency
Investors hold their breath in anticipation of Congress Hearing on Facebook’s Libra set up for July 16-17. What’s in store for Bitcoin?
Bitcoin’s Price May Rise after Congress Hearings on Facebook’s Libra Сryptocurrency

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Leaked Document Shows India Will Ban All Cryptocurrency

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Leaked Document Shows India Will Ban All Cryptocurrency
The global cryptosphere might take hit in the near future as according to a leaked bill circulating online, India plans to completely outlaw the use of cryptocurrency except its own Digital Rupee.
Leaked Document Shows India Will Ban All Cryptocurrency

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Wall Street-Backed Blockchain Consortium R3 on Its IPO Consideration

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Wall Street-Backed Blockchain Consortium R3 on Its IPO Consideration
Blockchain consortium startup R3 is said to be considering an Initial Public Offerings (IPO). Sources familiar with the report reveals that R3 is in talks with an adviser over a potential public listing.
Wall Street-Backed Blockchain Consortium R3 on Its IPO Consideration

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Samsung Joins Forces with Telcos and Banks for a Blockchain Consortium in South Korea

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Samsung Joins Forces with Telcos and Banks for a Blockchain Consortium in South Korea
Samsung Electronics together with South Korean banks and telcos formed a consortium to create a new blockchain network.
Samsung Joins Forces with Telcos and Banks for a Blockchain Consortium in South Korea

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Source: CoinSpeaker