Tether [USDT] worth 12 million sent from Tether treasury to unknown wallet

Tether has been the center of rumors and speculation for a long time; however, the rumors and speculations reached a peak when NYAG, Letitia James, filed a lawsuit against Bitfinex and Tether for defrauding investors by covering up losses.
The lawsuit might have subsided after the new injunction by New York Supreme Court, but it is likely to resurface again. As per data obtained from CoinMarketCap, the market cap of Tether increased by a couple hundred million in the past month, which adds fuel to the rumor surrounding the exchange. Moreover, about 12 million USDT was moved from Tether Treasury to unknown wallets as seen on Ether Scan.
Whale Alert tweeted:

4,994,990 #USDT (5,038,694 USD) transferred from Tether Treasury to unknown wallet
Tx: https://t.co/qmFoxe41y4
— Whale Alert (@whale_alert) May 21, 2019

The funds were split into two transactions, ~5 million USDT and ~6.7 million USDT sent from a single wallet 5754284f345afc66a98fbb0a0afe71e0f007b949 to wallet b1fa690155821bf9191d609593b556048aca517c and 7c7019a8a4e8f0b900b88a3efca951b73afab9e8. The sender has a balance of 42 million USDT.
Source: CoinMarketCap
In addition, the above chart by CoinMarketCap shows how the market cap of Tether [also circulating supply] has increased by over a $300 million in a month, i..e, $2.6 billion to $2.9 billion.
A Twitter user @casPiancey tweeted:

Tether just keeps pumping 'em out – ten million more ETH, too. Bitfinex gets a 10 for attitude and a 0 for logic. pic.twitter.com/kD1xmHGWwu
— Eloncarlo"USDT33kByJuly" (@CasPiancey) May 21, 2019

Moreover, according to The Block, Tether also admitted in court to investing some of its reserves in Bitcoin. The article stated:
“Prior to the April 24th order … Tether actually did invest in instruments beyond cash and cash equivalents, including bitcoin, they bought bitcoin.”
The post Tether [USDT] worth 12 million sent from Tether treasury to unknown wallet appeared first on AMBCrypto.
Source: AMB Crypto

After the Wild West, the Next Generation of Crypto Companies are Advancing the Industry

Back in the ICO boom of late 2017 and 2018, it was too easy for anyone to enter the crypto space with little more than a white paper and a sales pitch. However, once their ICO was over and the spending sprees started, even the most well-intentioned projects struggled to sustain themselves. A quick browse through Deadcoins shows that many simply burned through their funds and ultimately never brought a product to market.
Now, the crypto market is starting to grow up. The community has been burned by too much hype around useless niche products too many times. Therefore, the pressure is on tech startups to demonstrate they have solid business acumen together with a sustainable plan for the future.
As more and more Mainnets launch, there is also increasing recognition of the importance of interoperability. A standalone product is like a lone tree in a lightning storm, prone to being hit.
Interoperability means becoming an integral part of a thriving blockchain-based ecosystem. Those who understand the importance of developing this ecosystem are the ones who stand the best chance of surviving in the long term.
Here’s an overview of three companies with a strong focus on playing the long game and driving towards an interoperable ecosystem.
Polymath
A significant factor that led to the explosion of ICOs in 2017 and 2018 was the existence of the ERC-20 token standard. Now, regulatory clampdowns mean ICO’s will be treated as securities. Therefore, many startups are turning to the security token offering (STO) as a means of crowdfunding.
Polymath is aiming to replicate the success of ERC-20 through its own offering, the ST-20 token standard. This provides a compliant means for founders to fund their visions, and as it stands, over 100 tokens have already launched using Polymath. It’s a complete turnkey solution for running an STO without falling foul of the regulators.
At the recent Consensus 2019 event in New York City, Polymath confirmed that it will develop a separate blockchain for regulation-compliant tokens with Ethereum co-founder and Cardano developer Charles Hoskinson.
Polymath also operates a treasury. The company has locked up 75 million of its own tokens for five years. This treasury approach provides a long-term, sustainable option for funding future endeavors.
ChangeNOW
ChangeNOW offers non-custodial crypto exchange services without limits or registration required. Using ChangeNOW, a user can trade in their chosen cryptos in just five easy steps with no hassle. They simply select their tokens for selling and buying, and the interface determines the best available rate at the time. The user receives the address for sending funds and provides their own address for receipt. It’s that simple.
ChangeNOW is working hard on establishing many partnerships across the crypto landscape. It has relationships with exchanges including Binance, Bittrex, and Bitfinex, and wallet providers such as Ledger, Trezor, and Atomic Wallet. The company recently received the endorsement of Binance CEO Changpeng Zhao (CZ) for it’s NOW token to become one of the first listed on the newly launched Binance DEX.
The company has also been rolling out a series of innovative features for its users. It now offers a zero-fee public Lightning node, which enables instant payments and cross-chain atomic swaps. It also has a service called NOWpayments, which allows vendors to start accepting cryptocurrency payments through a native integration to their platform, or through a widget.
For startups which want to swap out their ICO tokens to ones issued on their own main net, ChangeNOW also offers a dedicated token migration service. Finally, in keeping with the growing trend of exchanges operating a loyalty program, ChangeNOW will also be opening up its VIP Lounge, which provides premium benefits to members.
LiquidApps
LiquidApps exists to remove barriers to dApp adoption, both for users and developers. It’s achieving this through the operation of its DAPP Network, the backbone of which is the Dapp Service Provider (DSP) and the DAPP token.
A DSP can be any individual or entity which meets the requirement for becoming an EOS block producer. A DSP can then sell services over the DAPP Network in exchange for DAPP tokens.
LiquidApps is rolling out services thick and fast. The first was vRAM, which is compatible with EOS RAM but without the limitations and consequent supply-and-demand challenges of the latter. Next up was vAccounts, which allows developers to offer a dApp-specific account for new users, removing the requirement for users to have to buy RAM to open an EOS account.
Now the company is offering a host of new services, which includes the potential for inter-blockchain communication with its new ChainOracle XIBC service. It allows developers to bring in sources of external information (for example, from other blockchains or even the internet) to their dApp, which has previously been challenging due to the deterministic requirements of a blockchain. Using the LiquidApps solution, external data can be verified by a DSP in such a way as to retain the integrity of the network and root out bad actors.
By enabling communication between blockchains in this way, LiquidApps is aiding the development of an interoperable ecosystem. In turn, the company is carving out a role for itself in that ecosystem long into the future.
Summary
These three companies are leading the way in taking a long-term view alongside working to build a flourishing blockchain ecosystem. These developments are reliable indicators that the days of the crypto wild west are coming to an end, and the sector is now entering the next stage of maturity. This growth can only work for the benefit of all participants.
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Source: AMB Crypto

Microsoft’s decentralized identifiers: Tech giant wants people to control all aspects of their identity, claims Daniel Buchner

With non-financial giants making headlines for joining the crypto-race, numerous enthusiasts remain unsure about what is motivating such decisions. To uncover the secret behind one such development, WhatBitcoinDid podcast host Peter McCormack, interviewed Microsoft’s Daniel Buchner to understand why Microsoft was building decentralized IDs on the Bitcoin blockchain.
While the interview started with Buchner speaking about his involvement in the crypto-space, he expanded on Microsoft’s cultural shift in working with opensource projects, unlike in the 90s. He also connected the cultural shift with Microsoft’s recent announcement related to the launch of their decentralized identity program, which would use the Bitcoin blockchain to create user identifiers. He said,
“We want to make it possible for people to own all aspects of their identity and control it. It’s something that we just don’t have today, that we’ve lost really on the web.”
Buchner further explained how the resultant technology would enable users to create DIDs [decentralized identifiers], which would not be under centralized control like existing email IDs. The DIDs are intended to work as a unique identifier for every user to gain access to any online service, based on trust. He also claimed that Microsoft would build the entire DID-powered ecosystem by partnering with other companies. He added,
“We (Microsoft) are not trying to win, we’re just trying to make sure that it exists.”
When asked about disrupting the existing market which thrives on selling user data, Buchner clarified that such businesses could still earn revenue by being more upfront and slightly different in their approach while collecting user data. He also cited a terrible user experience when he tried removing data from Google’s services.
Along the same lines, Facebook has also announced its plans to place “higher focus on privacy”. Buchner concluded the topic by saying,
“It (privacy) needs to be led by a company like Microsoft. So we’re definitely going to put tools in users’ hands that make this easier.”
The post Microsoft’s decentralized identifiers: Tech giant wants people to control all aspects of their identity, claims Daniel Buchner appeared first on AMBCrypto.
Source: AMB Crypto

Ripple (XRP) add 21.7 Percent, Resistance at 40-43 cents Zone

Ripple (XRP) ranging but the uptrend is firm
XRP classification will either trigger a rally or a large-scale dump

Like most liquid assets, Ripple (XRP) is consolidating, trading inside May 14th and 15th high low in a bullish breakout pattern. All the same, bulls are in pole position. As fundamentals and candlestick arrangement diverge, it is only a matter of time before prices breach 50 cents as buyers aim at 60 cents.
Ripple Price Analysis
Fundamentals
At 39 cents, Ripple (XRP) market dominance is 6.75 percent, trailing Bitcoin and Ethereum with a market cap of $16,661 million at the time of press. Ripple (XRP) bulls have ground to cove. However, it all depends on how XRP, a medium of exchange facilitator, is viewed by regulators and most importantly, the success of xRapid.
If anything, it may take years or even decades before RippleNet clip a majority of market share from SWIFT. All the same, regulators may thaw thanks to Coinbase pro decision to open up XRP trading to New York state residents. The state is stringent.
Because of compliance demanding NY DFS, the move somehow confirm Ripple (XRP) is indeed a utility with no central point of control. All the same that will take much convincing from critics who insist that XRP is centralized security and a Ripple Inc Airdrop.
Candlestick Arrangement

At spot rates, Ripple (XRP) is up 21.7 percent from last week’s close. However, prices are stable in the previous 24 hours. Despite low volatility, the path of least resistance is up, and aggressive traders have a chance to ramp up on dips with first targets in line with our last XRP/USD trade plan.
From candlestick arrangement, there is an opportunity to add to longs after the correction of May 15th to 16th over-extension. However, the best approach for conservative traders is to trade the confirmation of May 14th upswing.
It will print out after prices rally, closing above May 16th highs ideally at the back of high transaction volumes. After that, our ideal target will be 60 cents. Conversely, any drop below 34 cents invalidates our trade plan as XRP bears will fall back to the 4 cents range of the last five months.
Technical Indicators
To reiterate our previous positions, any close above 40 cents and May 16th ought to be at the back of high transaction volume exceeding 187 million recorded on May 14th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bibox Europe Official Launch on Track, Raises Equity Investment from a Global Top-10 Bank

Bibox, the AI-enhanced encrypted digital asset exchange has announced plans to cater to European customers with the upcoming launch of Bibox Europe. Equipped with the necessary license in Europe, the company will be opening doors to the public as a fully regulated Blockchain Financial Service Institution.
The company’s plan to launch a fully compliant fiat exchange has been well received by traditional institutions. It is reported that one of the largest global banks has invested in this round of fundraising of Bibox EU. According to Bibox, the platform’s European arm will provide its users with easy access to digital assets by supporting fiat to cryptocurrency brokerage service, encouraging users to build up their crypto portfolio with fiat in a convenient and effective manner. The equity investment from a reputable banking institution, combined with collaboration with multiple Swiss banks have enabled the platform to act as a bridge between traditional financial services and the new-age blockchain and crypto-based financial instruments.
To begin with, Bibox Europe will be supporting fiat on-ramp with four fiat pairs, US Dollar, Euro, Pound Sterling, and Swiss Franc. The Estonia based parent company, Bibox Exchange has forged partnerships with various parties across banking, investment, insurance, and regulatory authorities to provide a seamless experience as a one-stop solution for cryptocurrency investors.
What’s in store for the Customers of Bibox Europe?
Bibox Europe users will be able to purchase crypto assets using fiat without any hassles that are usually associated with such transactions. This is made possible by the support from major European banks following the equity investment into the project by an internationally renowned banking institution.
In addition, Bibox Europe has partnered with a regulated custodian to store, process and protect users’ assets in cold wallets. Further, the company has signed a warranty service with an insurance company to mitigate any potential loss of customer assets in the unlikely event of a security breach. Any loss of customer assets stored on Bibox Europe result from such circumstances will be reimbursed by the insurance provider.
To further reduce the barrier between fiat and cryptocurrencies, Bibox Europe will be issuing a Bibox credit card in collaboration with major credit card service providers. The Bibox credit card can be used across partnered PoS and online payment gateways, not only for the purchase of crypto assets but also for the purchase of real-life goods and services. In addition, it is understood that Bibox is planning to create more applications for its native platform token BIX with credit card services.
When it comes to bulk trading, Bibox Europe has partnered with leading OTC Trading desks in Asia, Europe and America, including FBG Capital to support rapid order execution and transaction processing internationally, covering more than 20 cryptocurrencies.
Bibox is a quality digital asset exchange powered by artificial intelligence. It is committed to providing users with only high-quality assets to trade with. With the innovative incorporation of AI, the exchange is able to provide greater transaction security, system stability, and better user experience.  Bibox has established operating centers across continents and it is still expanding to better serve its users. Bibox is working towards building a secure, transparent, compliant and innovative digital asset platform.
Learn more about Bibox at – https://www.bibox.com/
 
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Why Ethereum (ETH) Is Primed For Its Deadliest Fall In Months

Ethereum (ETH) is primed for its deadliest fall in months as all key indicators point to extremely bearish outlook. The weekly chart for ETH/USD shows a strong bearish divergence on the RSI that confirms. The trend line resistance shown on the RSI has been rejected and the RSI is expected to fall further in the days and weeks ahead. Similarly, the price has faced a strong rejection near the Ichimoku cloud on the weekly chart and is now ready to fall towards the bottom of the ascending channel it is trading in. Interestingly, this ascending channel forms part of a large bear flag that could see the price fall lower than our previously stated target of $60 per coin by the end of the year. Recently, over $7 million worth of Ethereum (ETH) were hacked and transferred to an unknown wallet. At this point, Ethereum (ETH) is not short of catalysts that could push the price off a cliff.
The number of ICO scams has been on a steady rise with Bitconnect making its entry again in July, 2019. It is clear that the SEC is going to have to step in at some point before serious damage is done and when that happens, it is not going to be a good day for Ethereum (ETH). We have discussed in our previous analyses that for the bear market to be over, we have to see most of these useless coins get wiped off the market. So far that has not happened and investors still have quite an appetite for risk taking. We have also pointed to a maximum pain scenario. On that front, the bears have already experienced maximum pain as most of them were put out of their positions as Ethereum (ETH) kept on surging in a parabolic manner these past few weeks. However, the bulls are yet to see maximum pain and all the key indicators on larger time frames show us that it might happen soon.

The daily chart for ETHUSDShorts shows that the bears have been very reluctant to push back after their recent experience. The number of margined shorts against ETH/USD is still having trouble breaking past the 50 day moving average. We could see ETHUSDShorts attempt to rally towards the top of the ascending channel towards the end of the month but it has become quite clear that retail bears have lost their appetite for short selling after the recent stop hunt.

Retail bulls on the other hand are more optimistic than ever as most of them assume that the bottom is in. The Fear and Greed Index is down to 68 today from 73 yesterday. This shows that the bulls are beginning to think if this rally can really continue from here without the price seeing a sharp retracement first. The whales are unlikely to allow most of these retail bulls to cash out their winnings. Just as we saw recently, the price of Ethereum (ETH) flash crashed from $243 to $191 in a matter of minutes. The same is likely to happen again when the whales realize that FOMO buying is beginning to lose steam. Most retail bulls would be left holding the bags as the whales dump on them again.
Source: Crypto Daily

Hedge Fund Execs Predict Bitcoin Price will Close 2019 at $9,659

The bitcoin price has surged a little above 114 percent in 2019 so far. But, according to a new poll, the cryptocurrency has extra fuel to sustain its upside action further.
US comparison website Finder surveyed ten FinTech capitalists, including executives from hedge funds Arca and BitBull Capital, on Friday. The portal found that a majority of them expected that bitcoin would pullback from its recently tested $8,000-level. However, they forecasted a strong rebound in June, which would push the cryptocurrency’s rate to as high as $9,659 by the end of this year.
Why So Bullish
Prices of bitcoin rose impressively in 2019 following an 85 percent depreciation the previous year. The April and May trading session alone saw a 50 percent appreciation in the bitcoin rate, having risen from $4,000 to above $8,000. At the same time, mainstream financial markets underperformed owing to escalating economic tensions between the US and China.

The surge in $BTC continues as the mounting fear about war with China drives US investors to look for safety, The only asset to outperform is the non correlated #Bitcoin, proving again that all $USD denominated assets such as stoc…https://t.co/j3Y1wz9hsc https://t.co/evkI9yIozO
— Alex Mashinsky (@Mashinsky) May 15, 2019

The Finder survey participants were quick to notice the inverse relationship between the two events. Almost half of them said mainstream investors diverted their capital from interim bearish equities to bitcoin as a sign of risk management.
Mark Pimentel, the founder, and one of the chief executives at Kronos, a high-frequency crypto trading company, admitted that they have been using bitcoin as a haven against the bearish mainstream markets, stating they were able to make substantial gains out of bitcoin’s volatile price swings.
“The cryptocurrency market is swayed by news and attention, so as bitcoin begins to rise in price again, more traders enter the market. It is much more likely for these entrants to buy bitcoin than sell. So this predictably creates price appreciation,” Pimentel said, adding that the bitcoin price could retest $20,000 in 2019.
Meanwhile, there were also who credited mainstream institutions, which have been lately building new services around the bitcoin market, as one of the main drivers behind the latest bitcoin price rally.
“Eight out of 10 panelists think the price of bitcoin increased due to cryptocurrency-related announcements made at Consensus 2019 in New York City,” said Finder.
The bitcoin price surged by as much as 77 percent upon the conclusion of the Consensus event.
Broader Adoption
David Wills, chief operating officer at Kinetic Capital, a cryptocurrency trading firm, said the bitcoin price is due for gains because of its potential for broader adoption as a currency. The Hong Kong-based executive cited Whole Foods, an Amazon-backed retailer, and Nordstrom, a North American chain of luxury department stores, for making his case. Both the retail stores accept cryptocurrencies as payments.
“Last year, the bear market was in part caused by the fallout from many loss-making, unsuccessful initial coin offerings, and the participation by [a number of] questionable players that attracted regulatory scrutiny in cryptocurrencies,” Wills told the South China Morning Post, adding that the bitcoin industry has become more mature than before.
The bitcoin price was trading at $7,960 at the time of this writing, up 152 percent since its cycle low.
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BNB Price Hits New All-Time High as Binance Posts Mysterious Tweet

Coinspeaker
BNB Price Hits New All-Time High as Binance Posts Mysterious Tweet
Binance Coin is gaining in its value while the community is trying to guess what a mysterious tweet made by Binance could mean.
BNB Price Hits New All-Time High as Binance Posts Mysterious Tweet

Continue reading at Coinspeaker
Source: CoinSpeaker

Bitcoin SV Price Goes Vertical Following Craig Wright’s Whitepaper Copyright Claim

According to a press release published by CoinGeek, controversial crypto proponent Craig Wright has been granted copyright registrations for the original Bitcoin Whitepaper with the US Copyright Office. The pro-Bitcoin SV publication has used the news as concrete evidence that Wright is indeed Satoshi Nakamoto.
Although many in the wider cryptocurrency community remain unconvinced by Wright’s claims, even in light of the latest developments, it is clear from the Bitcoin SV price action that a lot of folks are taking the announcement as proof of Wright’s involvement in Bitcoin’s creation. The price of the crypto asset that forked from Bitcoin Cash last November has gone vertical since the news broke and is up over 72 percent over the last few hours at the time of writing.
Craig Wright Files Patent for Bitcoin Whitepaper, Crypto Community Ambivalent
It was announced earlier by the Calvin Ayre-owned, pro-Bitcoin SV publication CoinGeek, that entrepreneur and computer scientist Craig Wright has been successfully granted US copyright registrations for the Bitcoin Whitepaper, along with most of the crypto asset’s original code. Wright has been claiming himself to be the creator of the digital currency since 2015 and although it would be very easy for him to cryptographically prove himself Satoshi Nakamoto, he has never done so. This has led many in the community to call him a fraud.
In fact, some in the crypto space have gone to great lengths to prove that Wright’s claims are nonsense. This prompted the controversial figure to pursue legal action against those who have doubted that he is indeed the author of the Bitcoin whitepaper.
Naturally, CoinGeek and its owner, Calvin Ayre, have used today’s news that Wright has had his patents green lighted by the US Copyright Office as evidence confirming Wright’s claims:

Boom! Proof that #CraigisSatoshi has been accepted by US government copyright department.https://t.co/sr0PQno6Dg
— Calvin Ayre (@CalvinAyre) May 21, 2019

However, not everyone is convinced that the latest moves prove anything at all. Jerry Brito, the executive director at Coin Center, Tweeted:

Registering a copyright is just filing a form. The Copyright Office does not investigate the validity of the claim; they just register it. Unfortunately there is no official way to challenge a registration. If there are competing claims, the Office will just register all of them. https://t.co/YA70ALpG1Y
— Jerry Brito (@jerrybrito) May 21, 2019

Some pointed to it being yet more attention-seeking antics from Wright:

craig wright's newest shenanigan in trying to prove he's satoshi is our version of katy petty getting her nails done or whatever the normie celebrities do to get noticed
— Ambroid (@anambroid) May 21, 2019

Finally, Peter McCormack, the host of the What Bitcoin Did podcast and one of those apparently being sued by Craig Wright for dismissing his claims relating to the original Bitcoin protocol, responded to the news with typical nonchalance and humour:

I have registered the paper "Craig Wright is a Fraud" with the UK Intellectual Property Office.
Any misuse of "Craig Wright is a Fraud" and I will sue you for fraudulently claiming "Craig Wright is a Fraud".
— Dr. Peter McCormack (@PeterMcCormack) May 21, 2019

Satoshi’s Vision Price Rockets on Craig Wright News
As mentioned, the price of Bitcoin SV, the crypto project championed by Wright, has soared since the news broke. On a day with many low percentage gains across the market. The digital asset created when Bitcoin Cash forked last November has shot up by over 70 percent in just a couple of hours.
It actually peaked just shy of $140, up from around $61 prior to the news. It has since slumped back to around $110 at the time of writing – still an impressive gain not mirrored by the rest of the market.
The increase in buying pressure has likely been caused by those convinced by pro-Bitcoin SV news sources and Twitter accounts that Wright being granted a copyright for the Bitcoin code and whitepaper is concrete evidence that he is indeed the paper’s original author.

Craig Wright is officially recognized by a government agency as Satoshi Nakamoto and granted US copyright registrations for Bitcoin white paper and code #CraigIsSatoshihttps://t.co/rHJW0XTWKt pic.twitter.com/6SuQphPs7f
— CoinGeek (@RealCoinGeek) May 21, 2019

Craig Wright is Satoshi Nakamoto
— 1jack (@liujackc) May 21, 2019

Craig Wright just been awarded copyright over bitcoin and the white paper. #bsv pic.twitter.com/fLIF1ilnOc
— cryptofactor ˢᵛ (@CryptoFactor) May 21, 2019

Unfortunately, this ultimately off putting display for all those recent newcomers to the market appears to be anything but over. NewsBTC will continue to being you more on it as it develops further.
 
Related Reading: This Prominent Investor Sees Bitcoin Surpassing Gold as a Store of Value
Featured Image from Shutterstock.
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Cryptocurrency: How LTC & XRP are Taking over Germany

After it was founded in 1860, Börse Stuttgart has built itself up to be the ninth biggest in Europe and the second biggest exchange in Germany which has now approved the listing of Litecoin and XRP exchange-traded notes (ETNs).
The team at Börse Stuttgart has said:

“For the first time in Germany, investors can now buy and sell exchange-traded notes (ETNs) based on the cryptocurrencies Litecoin and Ripple (XRP). The four securities issued by XBT Provider in Sweden track the price of the two cryptocurrencies in relation to the euro and the Swedish krona.”

Make no mistake, ETNs are different from ETFs although it is true that they are similar as they are both regulated to quite a strict level. They both operate as transparent and protected entities that can be used by investors to invest in several different assets.

The launch of cryptocurrency-backed ETNs on the German exchange is expected to increase the liquidity of Litecoin and Ripple’s XRP token. Specifically those amongst accredited investors and potentially institutions.
Liquidity Quality
As it says on the exchange’s website in regard to cryptocurrency:

“Higher, faster, further – digitization turns the old, analogue world upside down. This also applies to the currency cosmos. While hardly anyone knew how to spell Bitcoin a few years ago, everyone is talking about it. “

Crypto exchanges might be attractive for some users due to their liquidity and ease of access. But for some, the lack of investor protection is still a bit of an obstacle to overcome.

At the end of 2017, the billionaire investor Mark Cuban spoke to Bloomberg at the Vanity fair New Establishment Summit in Los Angeles. Cuban said that he invested in Bitcoin – which remember what just about to hit $20k – through an ETN on a Swedish stock exchange.
The investor said:

“It is interesting because there are a lot of assets which their value is just based on supply and demand. Most stocks, there is no intrinsic value because you have no true ownership rights and no voting rights. You just have the ability to buy and sell those stocks. Bitcoin is the same thing. Its value is based on supply demand. I have bought some through an ETN based on a Swedish exchange.”

The same company that is behind the Bitcoin ETN on the Swedish stock market is looking over both Litecoin and XRP ETNs on Börse Stuttgart. With this, accredited investors would be provided with an alternative platform other than cryptocurrency exchanges to invest in major crypto assets.
The director of blue chips & funds at Börse Stuttgart, Jürgen Dietrich, said:

“There is a lot of interest in cryptocurrencies. These [litecoin and XRP] ETNs will allow investors in Germany to track future price developments of the two cryptocurrencies Litecoin and Ripple (XRP) through exchange-traded securities for the first time.”

Price
Over the course of the past 12 months, the price of Litecoin has surged by more than 180 percent against the US dollar. The very bullish performance of the cryptocurrency was mainly put down to the focus of the open-source developer community of Litecoin on privacy-related.
Earlier this year, the creator of Litecoin, Charlie Lee said:

“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.
Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a softfork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks.”

With the demand for a Litecoin ETN in Germany is still uncertain and whether it would have a major impact on the state of the Litecoin exchange market at the currency stage of the recovery of the cryptocurrency market is not clear.
During this increasing developer activity and rising value, a noticeable improvement in the quality of liquidity of the asset which would only pile on the momentum for the cryptocurrency.
With Börse Stuttgart being the ninth biggest stock exchange in Europe, it will be interesting to see how this fairs for adoption.
We can hope to see the price momentum be fueled, but adoption is a whole different ballpark.
Source: Crypto Daily

Bitcoin Will Become a Factor in Turkey as Hard Cash Disappears – Max Keiser

Keiser Report host Max Keiser is as bullish and hopeful as ever that Bitcoin will take over the world. Earlier today, Keiser in response to a post by Zerohedge on Twitter, said Bitcoin will soon become a factor to Turks as cash disappears.
The Turks know what is coming
According to Zerohedge, Turkish residents have been buying and storing hard currency since the beginning of the year. Turks have amassed up to $20 billion in the hard currency because “they know what is coming”, according to Zerohedge. The purchase of hard currency could be a means of survival from a recession that may hit the nation in 2019.
According to CNBC, experts predict a recession that is about to hit Turkey since 2018. The prediction has to do with a downgrade from rating agencies Moody and S&P that id moving Turkey’s debt closer to junk territory, the report says.
“The downgrade reflects our expectation that the extreme volatility of the Turkish lira and the resulting projected sharp balance of payments adjustment will undermine Turkey’s economy, we forecast a recession next year.” S&P Global Ratings said in a statement.
Also Read: Bitcoin SV [BSV] Up 100%; Craig Wright Makes Another Attempt To Cause FOMO?
Other countries have turned to Bitcoin
Countries like Venezuela whose currencies have failed have turned to cryptocurrency, majorly Bitcoin and Dash. The Venezuela Bolivar had suffered from hyperinflation for years until it became useless even for domestic purchases. Bitcoin airdrops were made as a donation to the country’s citizens to help them get on their feet despite the launch of their own oil-backed cryptocurrency the Petro.
Venezuela has also faced the same sanctions Turkey is facing with right now and with a massive recession forecast for a nation of 80 million people, citizens storing hard cash for the days to come. However, Keiser believes cash will go away and Bitcoin will become the only way out for Turks, just as it is for the Venezuelans right now. Should the Turks be buying and storing Bitcoin instead of cash?
The post Bitcoin Will Become a Factor in Turkey as Hard Cash Disappears – Max Keiser appeared first on Coingape.
Source: CoinGape

BitGo Engineering Manager Has $100K Stolen From His Coinbase Account

On Monday (May 20), Sean Coonce, an engineering manager at crypto custodian BitGo, admitted that last week he had become the victim of a "SIM swap" attack, as the result of which his Coinbase account got "drained" and he lost "north of $100,000." More importantly, he decided to "increase awareness about these types of attacks" by providing a detailed account of what had happened, and what he had learned from this very unfortunate incident.
Source: Crypto Globe