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Neutral Dollar Project Rejects Tether And Gemini

An aggregate stablecoin project has omitted both Tether (USDT) and Gemini dollar (GUSD) from its basket. The Neutral Dollar Project, which is based on the average value of several dollar-backed tokens, has told Crypto Briefing that neither GUSD nor Tether met the project’s requirements for inclusion. Although the project did not elaborate, transparency issues could be likely the reasons for disqualification. Neutral says its NUSD token can address some of the existing flaws associated with stablecoins. By creating a composite of several stablecoins, NUSD can maintain a stable store of value and remain liquid, minimizing investor risk. The Neutral Dollar is currently backed by a basket of four stablecoins: Circle (USDC), PAX, TrueUSD (TUSD) and DAI. Matthew Branton, Neutral’s CTO, explained that by combining these four tokens, the project created an asset with a superior store of value. In an email, Branton wrote: “Robust testing illustrated that by combining these particular stablecoins together, we reduce the overall risk exposure to one individual coin’s volatility and can produce a superior token that is the most stable.” But Neutral did not include either Tether or GUSD in its basket. According to Branton neither coin complemented NUSD’s present offering. “Our testing found that the inclusion of GUSD and USDT did not procure diversification or liquidity benefits at this early stage,” he wrote. What’s wrong with Tether and Gemini? Leaders of the Neutral Project promise full transparency to users, with frequent real-time audits on the stablecoins they hold in custody. NUSD holders can, at any time, redeem their tokens for the constituent stablecoins held in the basket. It could be that USDT and GUSD do not match Neutral’s transparency requirements. There has long been a giant question mark over Tether because its accounts –  supposedly holding $2.4bn at the time of writing – have never been examined by a professional auditing firm. Tether inexplicably slipped from its peg, falling by as much as $0.18 on some exchanges last October. Soon after, its market cap dropped by more than a billion dollars, leading observers to suggest that some tokens had not actually been backed by real currency. Similarly, Gemini Dollar faced criticism earlier this year over reports that users looking to redeem large quantities of GUSD had their accounts on the Gemini exchange frozen, with no reason given. Although Gemini has since said more than $133M worth of GUSD has been redeemed since launch, sources told CoinDesk that this formed part of a strategy “to maximise their status on CoinMarketCap.” Branton did not provide comment on whether this had any part to play in Neutral’s decision not to include GUSD and USDT. But for a project looking to solve some of the problems associated with other stablecoins, transparency should be a number one priority. The post Neutral Dollar Project Rejects Tether And Gemini appeared first on Crypto Briefing.
CryptoBriefing

BTG Pactual Announces STO – ReitBZ

The largest investment bank in Latin America, BTG Pactual, announced plans to host an STO in the coming weeks. The firm seeks to raise $15 million to further its Brazilian real estate platform named ReitBZ. If successful, the project could help bring much-needed investment capital into Brazil’s struggling real estate market. PTG Pactual is no stranger to the Latin American real estate market. The firm has over thirty-five years of experience in the region. Additionally, PTG Pactual controls numerous multi-million dollar investment funds throughout South America. These portfolios include real estate in Chile, Peru, Columbia, and Brazil. Global Investments This latest venture would open up the Brazilian real estate market to a global audience. It would also represent the first time a tokenized real estate firm and major Brazilian banking institution partnered up. The move signals a move towards further institutional adoption of cryptocurrencies. Gemini Trust Company LLC – Gemini Dollar – Stablecoin The Gemini Trust Company LLC is another partner in the ReitBZ project. For their part, Gemini will integrate their stable coin known as the Gemini dollar into the platform. This token enables the settlement of transactions and receival of investment capital in real time. Stable Coins Stable coins are pinned to fiat currency via an auditing system where one token is equivalent to one dollar. Tether is the best-known stable coin in the market but as of recently, a flood of new options are available. ReitBZ via Homepage ReitBZ (RBZ) Investors receive RBZ tokens to represent their investment. All RBZ holders are entitled to profit share dividends from their portfolio holdings. The RBZ token is a fully compliant security token regulated in Brazil. Also, the token is ERC-20 compatible. Consequently, all transactions occur on the Ethereum blockchain. Brazilian Distressed Real Estate In 2015 Brazil fell into the deepest recession in its history. Since 2017, the country has made a recovery and is now experiencing an economic boom. Not surprisingly,  as Brazil continues along a path to economic recovery, its real estate market values also increase. The country’s GDP increased 1.1-percent in 2017 and the same amount in 2018. Economists predict a 2.5-percent increase if the trend continues throughout 2019. Rio de Janeiro and Sao Paulo The areas that were some of the worst hit during the recession are now some of the best investment properties in Latin America. Recognizing this potential for upside growth, PTG Pactual focused its efforts on two of the country’s premier cities – Rio de Janeiro and Sao Paulo. These cities are iconic symbols of Brazil’s resolve and recovery efforts in these regions are better funded. Now, global investors have access to the Brazilian market. Tokenized Real Estate Tokenized real estate allows more investors to participate in the market. Opening up the Brazilian market to global investment capital is one of the best ways to draw more funds into the region and further development and reconstruction desires. Security tokens enable tokenized real estate to operate in a compliant manner. A Strong Signal The ReitBZ STO is a strong indication of what is to follow in the STO market. Major banking institutions now see the advantages of blockchain technology. The security and efficiency gained with a blockchain system are undeniable. If the ReitBZ platform accomplishes its goals, you can expect to see similar partnerships formed throughout the region. The post BTG Pactual Announces STO – ReitBZ appeared first on .
Securities.io

Is Your Stablecoin Being Disrupted Too?

For over a decade now, cryptocurrencies have been disrupting legacy finance. Jump started with Bitcoin, crypto markets exploded with CoinMarketCap currently showing 2136 cryptocurrencies. Growth in the number of coins has been fueled by market segmentation with projects catering to specific target audiences. Stablecoins, counting at around 50, seek to mitigate volatility, a scourge for crypto and roadblock for mass adoption. Traders switch to stablecoins to store value whenever other cryptos move against them. Tether became the first widely popular stablecoin. It’s pegged to USD, currently enjoying a 50% market share. Arguments arise as to Tether no being, in fact, a stablecoin, but a mere avatar of USD, placed on the blockchain. Another stablecoin, Digix, is a gold peg, using virtually the same mechanics that are employed by Tether. Standing apart, MakerDAO collateralizes only crypto, having nothing to deal with “real-world” assets. Within it, the two-coin ecosystem includes Dai, a USD peg, and MKR, an internal token used to pay fees and incentivize traders to sustain the peg. Using ETH as a collateral, Dai requires over-collateralization in order to prevent vulnerabilities in case of a price crash. A line of new entrants is set to disrupt the stablecoins, only recently seen as bleeding-edge innovation. Crypto community continues to design solutions, targeting ever smaller use cases. Read on and discover alternative stablecoins with unique offerings that might suit you best. Gemini Dollar Launched in summer 2018 by famous Winklevoss Brothers, Gemini Dollar (GUSD) is virtually Tether, but fully regulated. It’s issued by a New York corporation, complying with all applicable laws, specifically developed to help take crypto mainstream. It’s an ERC-20 token. To create GUSD, you park USD at Gemini Exchange. To change back, you import GUSD and withdraw cash. There’s no market cap, and 1 GUSD always equals 1 USD. In stark to contrast to Tether, which has been embroiled by controversies, GUSD has none of those. All the reserves are stored at a reputable bank, they are regularly audited by a well-recognized auditor, and all data is transparent, ready to be checked on the blockchain. Being an ERC-20 token, it can circulate on world’s many cryptocurrency exchanges, while Tether, operating off its own blockchain, is restricted in terms of availability. Being compliant means cooperating with authorities, and GUSD openly states in its Whitepaper that administrators might freeze accounts, should they receive a warrant from authorities. This goes completely against ideas, shared by crypto enthusiasts, but it would actually appeal to institutional investors, who need to assure high security and compliance before they can start using a new tech solution. Gemini Dollar is after institutional investors and ordinary customers. Having shed pseudonymity, it brings sleek UI, fast processing and ability to trade globally. USDQ USDQ is a stablecoin, developed by the Platinum technical team. Similar to MakerDAO, it engages two tokens. The first one is USDQ, which is a peg to USD, and the second one is Governance Minable Token, acting as an internal management token, used to pay fees, vote on decisions and mine. Users can purchase USDQ via two methods – buying it on secondary markets from other users, just like any other token, or purchasing it directly from the issuer on its website. In the second case, a BTC collateral is used which ratio is determined based on current market conditions. Price stability is maintained through the two mechanisms. The first incentivizes traders to purchase the stablecoin whenever it goes below the 1USD peg and sell it whenever the opposite occurs. The elegant and fool-proof first line of defense helps enable effective price equalization in case of low and moderate turbulence conditions. The second line of defense is unique to USDQ. It’s built up by a network of “robots”, which are applications, downloadable on devices and sustained by AI capabilities. They continuously gather and analyze data about cryptocurrencies, potential price trajectories and various other pertinent circumstances. Whenever multiple robots announce the need to change the collateral ratio, the vote is held. Should the unanimous decision be reached in favor of the change, it’s immediately implemented. This approach stitches together AI-driven agents and wisdom of crowd, collaborating to make time-sensitive decisions in high-volatility settings. In contrast to fiat-collateralized coins, USDQ is backed by BTC, eliminating any need to engage legacy systems, such as banks, auditors, lawyers, accountants and others. Instead, the scanner system, available at the stablecoin’s website, enables to easily track all transactions within the system. Another unique feature within USDQ ecosystem is an ability to mine cryptocurrency with robots. Users install robots their devices and input a collateral amount. The higher the collateral amount and the number of engaged devices, the faster the internal governance token is being mined. Many traders who usually hold stablecoin reserves on exchanges would find mining an attractive option, as it will deliver RoI on the funds that are otherwise inactive. GBX Globcoin (GBX) is a stablecoin, pegged to the basket of fiat currencies and gold. The coin is not effectively backed by any assets, but is an “index fund” with the price automatically changing based on fluctuations in underlying. GBX is an ERC-20 token, which simplifies purchasing and trading. Those traders who want to find exposure to multiple assets, as opposed to single holdings such as gold, USD, etc., will find this stablecoin of high value. Investing in asset baskets is at the core of policies, employed by Central Banks around the world to stabilize their national currencies. The GBX issuer plans to roll out basket-based stablecoins, specifically created for certain regions. Traders, active in Asia, Africa, Latin America or other regions, will win from using multi-currency baskets to hedge against undesired moves in national currencies. Although GBX is not backed by actual assets, convenience and ease will attract investors from both crypto markets and global trading communities, looking for innovative hedge instruments. Setting up such a basket on their own would require exorbitantly high effort and time investments. In this light, automatic adjustments to base assets prices seem like a big advantage. Stablecoins: future potential Stablecoins have helped traders to wait out undesired price moves. Reducing volatility in crypto markets, they will be instrumental for future mass adoption. Each individual stablecoin offers a unique value proposition. Some traders might want to take a closer look on USDQ, which enables to mine crypto with stablecoin reserves. Others will be keen to learn more about GBX, finding a new hedging tool. Looking around for new options pays off. After all, diversification and decentralization have always played a key role in crypto markets. Image(s): Shutterstock.com The post Is Your Stablecoin Being Disrupted Too? appeared first on NullTX.
NullTX

What Is DeFi and Where Does It Leave Bitcoin?

The Bitcoin bull and bear market cycles are a pattern that produces significant developments — when the market is cold, people tend to focus on building the next wave of groundbreaking technology. One of the most interesting things emerging from this particular bear market has been a concept known as “decentralized finance,” manifested primarily by services that allow you to earn interest or borrow against your cryptocurrency holdings.What Is DeFi?Decentralized finance, or “DeFi” for short, is an umbrella concept describing any financial services that are built on top of public blockchains like Bitcoin and Ethereum. It also encompasses all ICO activity, which, at present, mostly takes place on Ethereum.Stablecoins like Tether and Gemini dollar, which are essentially just IOUs for fiat sitting in reserves, do not qualify as DeFi projects by their inherent nature. Maker, on the other hand, includes both a collateralized lending system and stablecoin (DAI) that are both decentralized — making it more of a fit under the DeFi umbrella.Several systems have emerged that also offer DeFi lending services like Dharma Lever, Compound and Celsius Network. Other services, like dYdX and Nuo, allow you to short, hedge or margin trade. Prediction markets are also an emerging decentralized financial service, with Augur being the most relevant example. Consistent among all of these services, and all that decentralized finance has to offer, is that it requires no third party, bank or clearing house, and often is entirely permissionless.DeFi and BitcoinBitcoin itself, at the most basic level, may be considered the original decentralized finance project. People who use Bitcoin are already acting as their own banks (as long as they control their own private keys) and can permissionlessly exchange value with whomever they want, anywhere. While this the simplest form of decentralized finance, it may also be the most powerful. Bitcoin users are able to open up “bank accounts,” or new wallets, in seconds. They can securely store their wealth in a value that is protected by mathematics from random inflation and can spend this value however they want.The question of whether or not more sophisticated, decentralized financial services will migrate to Bitcoin is not a matter of if, but when. Over time, Bitcoin sidechains may be able to provide services similar to what we are seeing on Ethereum. Today, however, Ethereum is much better designed to handle DeFi services due to its complex smart contract capabilities.Nonetheless, new projects are already being envisioned on Bitcoin, like Bitcoin Hivemind. According to the website, Hivemind is a “Peer-to-Peer Oracle Protocol which absorbs accurate data into a blockchain so that Bitcoin users can speculate in Prediction Markets.”Why Is DeFi Growing?Decentralized finance is becoming popular for several key reasons, which are all parallel to the ethos of Bitcoin itself. There are no banks on which people need to rely, no trust is needed to interact with the other party, access is available 24/7 and settlements are relatively fast.And the numbers speak for themselves. As of March 2019, the amount of value locked in DeFi projects stands at $338 million, according to Delphi Digital’s thematic overview of DeFi. The research firm’s overview showcases the popular DeFi services, which they categorize by “DEXs,” “Lending and Borrowing” protocols and “Derivatives, Margin Trading, & Prediction Markets.”Delphi also cited potential benefits of DeFi as being permissionless, censorship resistant, immutable, programmable and offering minimal counterparty risk. An important note, however, is that the report did not address the potential systematic risks of decentralized finance. Rather, it cited only near-term concerns, which touch on the notion that decentralized finance results in “non-existent links to physical/traditional assets” as well as “limited on-chain throughput” and “limited product/market fit.” This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

Meanwhile in Russia, a Billionaire Wants to Create Palladium-Backed Crypto Tokens

Vladimir Potanin, Russia’s richest man, is mulling developing several digital market offerings including possible palladium-backed cryptocurrencies, reports Bloomberg, March 27, 2019. Palladium-Backed Digital Token The concept of commodity-backed cryptocurrency has ascended into prominence in a relatively short period. U.S. dollar-backed “stable coins” such as the ones issued by Tether and Gemini are arguably the mostRead More
BTC Manager

Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market

Coinspeaker Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin MarketThe concept of stablecoins has been a hit among crypto market investors, especially the conservative ones. Basically, stablecoins are cryptocurrencies, with their value tied to any fiat currency or commodity. Stablecoins eliminate the need for fiat-to-crypto conversion or vice versa every time while trading in the market. Moreover, they also provide investors a volatility-proof exposure to decentralized assets.However, insiders claim that stablecoins are turning vulnerable with some manipulative practices in the ecosystem. Nevin Freeman, CEO of Reserve, a Coinbase-backed stablecoins accuses rivals of playing it foul. Freeman says that rival stablecoins artificially inflate their trading volumes and market cap while creating misleading data on websites like The Stablecoin Index and CoinMarketCap. Dubious Tactics By Stablecoin OperatorsFreeman also points to two major “tricks” and dubious tactics used by stablecoin operators to cheat investors. The first is offering discounts to investors willing to lock-up their funds a particular time period. The second is encouraging traders to put the buy and sell at the same time thereby generating more volumes and liquidity. This ultimately means encouraging traders for “wash-trading” activities.The two recent examples of such stablecoins include the Gemini Dollar (GUSD) and the Paxos Standard Token (PAX). Both these tokens offered 1% discount to selected OTC trading desks to boost up adoption. As said by Freeman, the discounts were for those investors willing to “lock-up” their funds for a specified time period.Reserve claims that these stablecoin operators floated these scheme on OTC trading desks of exchanges like Binance and Huobi. It also helped the GUSD’s market cap to climb from $87 million to $103 million the very next day on CoinMarketCap. Similarly, Paxos Standard managed to double its market cap from $40 million to $80 million in October 2018, reports CCN.Tether Continues to Remain In ControversyThe controversial stablecoin Tether (USDT) is yet again in the limelight for the wrong reasons. Freeman points at Tether’s involvement in wash-trading activities. Last year, Bloomberg also reported the use of Tether’s USDT stablecoins for wash-trading on the Kraken crypto exchange.Tether has reportedly lost over 30% of its market share in the stablecoin market last year. Tether still contributes two-thirds of the $3 billion stablecoin industry.To ensure safe market participation, Freeman asks savvier market investors to look into other metrics like the organic discussion about a project, the number of wallet addresses associated with a token, and the number of consumer app downloads.However, Freeman continues to believe that stablecoins are best positioned for long-term market success. His company Reserve also sees huge growth potential in countries facing huge economic challenges like Angola and Venezuela. He says that stablecoins can help citizens of the financially distressed countries to insulate their wealth.Freeman also points at the use of stablecoins to facilitate an efficient and cheaper model for remittance payments. He says, “Solving real-world problems, not financial engineering through arbitrage coins, is what is going to bring institutional legitimacy to the stablecoin market.”Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market
Coinspeaker

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

Intercontinental Exchange has added new coins to its cryptocurrency data feed and we’ve got the details in this installment of The Daily. This edition also features Coincheck’s announcement that it plans to sell its BSV holdings and reimburse users with Japanese fiat currency. Also, Chinese mining giant Bitmain has closed its office in Norway. Also read: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job ICE Adds More Coins to Its Cryptocurrency Data Feed Intercontinental Exchange Inc., the operator of the New York Stock Exchange, has expanded the scope of its ICE Cryptocurrency Data Feed to cover dozens of new cryptocurrencies. The service uses data from hundreds of sources in the crypto space, as the platform announced earlier this month. When it launched in January of last year, it was compiling data from around 15 exchanges. Now it promises users a comprehensive view of the market that can help them optimize their digital asset trading. The service is also targeting traditional financial institutions that want to enter the industry. Last week ICE Data Services tweeted a list of the digital coins that have been included in the data feed so far. Among them are major cryptocurrencies such as bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH) and litecoin (LTC). Totaling almost 60 projects, the list also includes aelf, ardor, augur, cardano, basic attention token, BSV, BTG, bitshares, bytom, cybermiles, crypto.com, dash, decentraland, digibyte, dogecoin, elastos, eos , ethereum classic, gas, gemini dollar, huobi token, icon, iost, kyber network, lisk, metaverse ETP, miota, mithril, monero, nebulas, nem, neo, odyssey, omisego, ontology, paxos, qtum, ripple, siacoin, status, steem dollars, stellar, tenx, theta token, tether, tron, trueusd, usd coin, vechain, verge, waltonchain, zcash, zilliqa, and 0x. Crypto Exchange Coincheck to Sell BSV Holdings Japanese digital asset exchange Coincheck has announced intentions to sell the BSV holdings accumulated as a result of the hard fork of the Bitcoin Cash network in November. The platform plans to convert the coins to fiat money and reimburse its holders with the corresponding amounts in Japanese yen that will be deposited to their trading accounts. Coincheck explained in an announcement quoted by AMB Crypto that the fiat equivalent could be lower than the market price of the coins and noted that a fee will be charged for yen withdrawals. The exchange did not reveal the date and the exact time of the upcoming sale in order to avoid affecting the market price of the currency. It also stated that only BSV funds will be sold. Bitmain Closes Office in Norway Chinese crypto mining giant Bitmain has closed its branch in Norway only a year after its opening. The Beijing-headquartered company has already terminated all its operations in the Scandinavian country and moved its office to Germany, ICO Shock reported, quoting the former Norwegian manager of the company, Julie Hvideberg. According to the executive, the main reason for the move is the revocation of electricity subsidies for mining facilities in the country. In November, the Norwegian government decided that crypto-based data centers should pay the full electricity rates and taxes, unlike traditional data centers. The publication highlights the controversial nature of the decision which attracted a lot of criticism from the power and data industry. Hvideberg, who has already quit her job, believes that in the future major mining pools will be concentrated in China and Russia, where electrical energy is much cheaper. On the backdrop of falling crypto prices, Bitmain closed its Amsterdam office and suspended its operations in a Texas-based mining facility in mid-January. And in December, the company shut down its research and development center in Israel. What are your thoughts on today’s news tidbits? Tell us in the comments section. Images courtesy of Shutterstock. At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed appeared first on Bitcoin News.
Bitcoin News

Intercontinental Exchange Adding Long List of Cryptocurrencies to Dedicated Data Feed

Intercontinental Exchange Data Services (ICE Data Services) recently tweeted out a lengthy list of cryptocurrencies to be included in its Cryptocurrency Data Feed. ICE Data Services provides pricing, analytics, indices, and exchange data in a custom-tailored fashion for clients seeking more insight and information on financial markets. According to its official website, the data solutions it provides “cover a broad range of asset classes, delivered securely to help you address your investing, trading, compliance and risk management requirements.” Now, the informer of global markets will be adding an extensive list of cryptocurrencies to its dedicated Cryptocurrency Data Feed. The full list of listed cryptocurrencies is reproduced below. (Get ready to scroll.) Aelf Ardor Augur Cardano Basic Attention Bitcoin Bitcoin Cash ABC Bitcoin Cash SV Bitcoin Gold BitShares Bytom CyberMiles Crypto.com Dash Decentraland DigiByte Dogecoin Elastos EOS Ether Ethereum Classic Gas Gemini Dollar Huobi Token ICON IOST Kyber Network Litecoin Lisk Metaverse ETP MIOTA Mithril Monero Nebulas NEM NEO Odyssey OmiseGO Ontology Paxos Qtum Ripple Siacoin Status Steem Dollars Stellar TenX Theta Token Tether TRON TrueUSD USD Coin VeChain Verge WaltonChain Zcash Zilliqa 0x This is what this means for Crypto traders pic.twitter.com/eb2ejPB639 — ICE Data Services (@ICEDataServices) March 14, 2019 ICE’s Cryptocurrency Data Feed is being launched in collaboration with Blockstream, a blockchain technology company co-founded by Adam Back, Gregory Maxwell, Pieter Wuille, Jonathan Wilkins, and Matt Corallo. It hopes to provide an increased level of transparency in addition to insight and efficiencies. As noted by an official video: Its global coverage can enable hedge funds to better manage their trading strategies. Index providers can provide price inclusion by weighting the value of a venue based on specific criteria. Tick-by-tick data provides risk management and pricing evaluation for surveillance. For portfolio managers, value-add statistics enable cryptoassets to be market to market. ICE is also launching Bakkt, an open-source platform that will be fully-regulated and “support innovation around digital assets and blockchain applications.” What do you think about ICE’s Cryptocurrency Data Feed? Let us know your thoughts in the comments below!  Images courtesy of Twitter. The post Intercontinental Exchange Adding Long List of Cryptocurrencies to Dedicated Data Feed appeared first on Bitcoinist.com.
Bitcoinist

Intercontinental Exchange (ICE) Released a List of its Favorite Cryptocurrencies; Same ‘Tokens’ To Be Included in Bakkt As Well?

ICE (Intercontinental Exchange), the parent company of the NYSE (New York Stock Exchange) has initiated a research unit for 58 cryptocurrency projects and 19 FIAT currencies. ICE, in partnership with Blockstream, has established the ‘Cryptocurrency Data Feed’, which will provide with real-time and historical data of cryptocurrency prices from all over the world. Nevertheless, it has selected only 2.75% of the total number of cryptocurrency projects in the market. This is what this means for Crypto traders pic.twitter.com/eb2ejPB639 — ICE Data Services (@ICEDataServices) March 14, 2019 Cryptocurrency Projects Included in the Data Feed The entire list of cryptocurrencies added to the Data Feed can be obtained here. The Data Feed would provide real-time thorough analysis of 58 cryptocurrencies on its official website. Moreover, widespread inclusion of only 58 cryptocurrencies from a total of 2106 projects would narrow down the targets of the investors. JHowever, the same time would hurt the altcoin markets and exchange volume in the short term. Some of the notable cryptocurrencies from the list are: Stable Coins: The stable coins which will be added to the list are USD coin, TUSD, Tether, Gemini Dollar High Market Capitalization ‘tokens’: Despite the cryptocurrency markets being highly volatile a couple of projects have cemented their position and were rightfully recognized included in the data. These included: Ether (ETH), Litecoin (LTC), Cardano (ADA), Monero (XMR), NEM, Ripple (XRP), Stellar (XLM), and NEO Potentially Valuable Projects: Some of the other cryptocurrencies with low market capitalization also features in the list, currently they can be analogous to penny stocks in traditional markets. These include Siacoin, Augur (REP), Ardor (ARDR), Basic Attention Token (BAT), Bitshares, Bytom, CyberMiles, Crypto.com (CRO), Digibyte (DBG), Dogecoin, Steem Dollars (SBD), Nebular, Mithril, Metaverse ETP, Zilliqa, and Ox. Huobi Included But No Binance (BNB) Coin: In exchange related token Huobi was included however Binance (BNB) coin was included. Bitcoin Cash (BCH), BSV, Bitcoin Gold and Ethereum Classic (ETC) the infamous hard forks from Bitcoin and Ethereum were also included in the list. Providing a Global Data Base For Cryptocurrencies Due to their decentralization, Cryptocurrency Exchanges have become ubiquitous in the world. However, there is no authorized metrics that would give out authentic real-time data. Hence, ‘price discovery’ becomes a significant challenge due to a multitude of avenues. The ICE data would provide insight on the project along with increasing the efficiencies for its traders. It would also facilitate pricing evaluation through proper surveillance and portfolio managers with statistics that will enable the crypto-assets to be traded between peers or customers directly. While dealing with currencies, volatility and protection against adverse market movements is of prime importance to import/export traders and investors. Hence, the ‘global coverage’ would enable hedge funds to manage their risks better. Expectations from the Bakkt Platfrom The Bakkt Platform will be one of the first institutionally backed cryptocurrency trading platforms. Hence, the number of cryptocurrencies expected to be included in the initial phases was limited. However, the data feed suggests that the Bakkt Platform might consist of more than just a few cryptocurrencies like Bitcoin, Ethereum and Litecoin. The post Intercontinental Exchange (ICE) Released a List of its Favorite Cryptocurrencies; Same ‘Tokens’ To Be Included in Bakkt As Well? appeared first on Coingape.
CoinGape

eToro Analysts: Zcash Leads The Charge For Privacy Coins

According to a research report published by eToro, Zcash (ZEC), the number 22 cryptocurrency by market capitalization, offers among the highest privacy protection among all crypto assets. Zcash, which not only shields the identities of both parties to a transaction, but also secures the history of a user’s transactions as well, has a total market valuation of about $327 million. The hallmark feature of the ZEC token is that it gives its holders the option of privacy when deemed necessary. The token  gives the user the freedom to either conduct transparent transactions (dubbed ‘t’ transactions) or fully private transactions (‘z’transactions).  Furthermore, Zcash also gives the users the keys to their own transaction history. Only a Zcash user can decide whether or not another individual will have access to their transaction history. The Zcash protocol may also have regulatory favor on its side. Cameron and Tyler Winklevoss, founders of the American cryptocurrency exchange Gemini, say that among all privacy coins, Zcash is the most likely to be approved by regulators. Part of the reason Zcash has potential for regulatory approval is that it does not fully identify as a privacy token. “Selective disclosure” is an important aspect of the Zcash philosophy; the token offers privacy for those who want it, or in situations where its users feel it is merited, but also gives the user the freedom to make certain transactions public. Transaction fees on the Zcash network are also small, at around 0.0001 ZEC, or about $0.005 at Zcash’s current price of approximately $53.  Similar to Bitcoin, there is a finite amount of ZEC to go around, (about 21 million) and it operates on a proof of work concept. Only time will tell where the adoption and market valuation of privacy tokens will go, but with Zcash’s “selective disclosure” feature it may be one of the few privacy coins to get a regulatory thumbs up. The author is invested in digital assets, including BTC which is mentioned in this article.  Join the conversation on Telegram and Twitter! The post eToro Analysts: Zcash Leads The Charge For Privacy Coins appeared first on Crypto Briefing.
CryptoBriefing

PlasmaChain integrates with six stablecoins including USD Coin, TrueUSD, and Gemini Dollar

James Martin Duffy, the co-founder of Loom Network, announced PlasmaChain integration for the top 100 ERC20 tokens via an official Medium blog post. The integration includes leading stablecoins in the market such as USD Coin [USDC] and Maker Dai [DAI]. The integration allows for “Lightning-Fast layer 2 Stablecoins payments with multi-currency support”. This news comes days after it was announced that BNB was added to Loom PlasmaChain as a payment method. The announcement read, “Since BNB is an ERC20 token, adding support for one token on PlasmaChain meant we were easily able to abstract the logic and apply it to any ERC20 token […] As of now, we’ve officially added support for the top 100 ERC20 tokens by market cap on PlasmaChain.” PlasmaChain is one of the three sidechains of the Loom Network, the others being GameChain and SocialChain. This DPoS sidechain is noted to be a revamp of ZombieChain, and is also one of Loom’s most significant sidechains. This sidechain is going to be the main point of transaction for tokens that are linked to Ethereum through Plasma Cash. Plasma Cash is a scaling solution proposed by Vitalik Buterin, the co-founder of Ethereum, and Joseph Poon, the co-creator of Lightning Network. It is a built-in decentralized exchange that is going to “act as a bridge to Ethereum mainchain and other sidechains”. This not only ensures faster transactions, but also cheaper transactions. Another prominent feature of PlasmaChain is that it would act as a main chain, in order to connect Plasma Cash to Layer 3 chains. It enables fee payment in ETH and Loom Token. In the future, it would also pave path for Bitcoin [BTC] payments. Crucially, since the chain was connected to the mainnet, it enables ETH, ERC20 and ERC71 token transactions. The blog post stated, “It enables zero-fee and near-instant transfers of tokens, while allowing users to easily transfer their tokens to and from Ethereum mainnet at any time […] But since PlasmaChain offers much shorter time-to-finality (typically 1–3 seconds), it allows for an online payments experience using crypto that is comparable to using a credit card.” Among the top 100 ERC20 tokens integrated to PlasmaChain, six are stablecoins. This includes USD Coin [USDC], TrueUSD [TUSD], Maker Dai [DAI], Paxos Standard Token [PAX], Gemini Dollar [GUSD], and EURS. The co-founder said, “Layer 2: Enabling Lightning-Fast Stablecoin Payments with Near-Instant Settlement Stablecoins by themselves are great. But integrating them into a Layer 2 like PlasmaChain is like putting stablecoins on steroids — bringing them even closer to a potentially disruptive form of online payments.” The post PlasmaChain integrates with six stablecoins including USD Coin, TrueUSD, and Gemini Dollar appeared first on AMBCrypto.
AMBCrypto

Gibraltar Blockchain Exchange (GBX-DAX) to Add PAX, DAI, USDC, GUSD and TUSD Stablecoins

The Gibraltar Blockchain Exchange (GBX) has confirmed the addition of five new stablecoins to its asset portfolio. The digital assets, namely Paxos, USD Coin, Trust Token, Maker, and Gemini Dollar will become actively tradable on the trading platform as from March 13, 2019. Trading of $PAX, $DAI, $USDC, $GUSD, and $TUSD will go live on […]
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Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco

The market saw prices of most major cryptocurrencies soar earlier this week. However, the weekend has led to a new turn of events as coins are now being dragged into bearish territory. Among the top-10 coins, the five cryptocurrencies that saw the biggest fall were Stellar Lumens [XLM], EOS, Cardano [ADA], XRP, and Litecoin [LTC]. The fall in prices was a result of the Bitfinex-Tether fiasco. New York State’s Attorney General’s [NYAG] office revealed that iFinex, the company behind the crypto-exchange Bifinex, may be violating New York Law. This announcement was in relation to activities that “may have defrauded” local investors who trade in cryptocurrencies. Stellar Lumens [XLM] Source: Trading View Stellar Lumens [XLM] was valued at $0.1158 on April 20 and fell by 14.68% over the week. At press time, the coin was valued at $0.0990 with a market cap of $1.88 billion. The 24-hour trading volume was noted to be $276 million, as the coin fell by 4.50% over the past day and continued to dip by 0.43% within the past hour. EOS Source: Trading View EOS, at the beginning of the week was valued at $5.47, after which it fell by 13.97% over the past seven days. At press time, the coin was valued at $4.70, with a market cap of $4.43 billion. The 24-hour trading volume of the coin was $2.62 billion as it fell by 1.91% over the past day. The coin, at press time, was falling by 0.14% and failed to recover. Cardano [ADA] Source: Trading View Cardano [ADA] fell by 13.41% over the week, which resulted in its price falling from $0.0769 to $0.0690. The market cap of the coin was reported to be $1.78 billion and the 24-hour trading volume was $108 million. Over the past 24-hours, the coin fell by 4.47% and continued to fall by 1.35% within the past hour. XRP Source: Trading View At the beginning of the week, XRP was valued at $0.3325, after which it slipped by 11.88% and, at press time, was valued at $0.2929. The market cap of the coin was noted to be $12.30 billion and the trading volume of the coin was $1.36 billion. XRP fell by 2.49% over the past day and by 0.50% over the past hour. Litecoin [LTC]  Source: Trading View Litecoin [LTC] noted a fall of 10.79% over the past week, which reduced the price of LTC from $81.33 to $72.64. The market cap of the coin was $4.46 billion with a 24-hour trading volume of $3.15 billion. The price of the coin fell by 0.77% over the past 24-hours and by 0.94% within an hour. The post Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco appeared first on AMBCrypto.
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Bitfinex: $850M Lost Tether ‘False Assertion’

Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.  The Cover-Up Claims According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been sent to, and seized by payment processing firm, Crypto Capital Corp. The allegation goes on to say that Bitfinex used cash reserves from affiliated stablecoin, Tether, to cover the shortfall. The AG, Letitia James, claims this ‘loss of funds’ and movement of reserves was not disclosed by operator of both Bitfinex and Tether, iFinex. Therefore, it had “engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds.” At press time, the price of USD Tether 00 has fallen bellow its $1 peg. Meanwhile, its stablecoin competitors such as USD-Coin 00  and TrueUSD 00 are now trading at a slight premium. This suggests that investors are likely swapping their tethers  to avoid any further surprises. Worth noting, Bitcoinist reported yesterday that the supply of tethers has reachd an all-time high. ‘Bitfinex and Tether are Financially Strong’ Bitfinex responded today by claiming that the AG’s filings: …were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. It claimed that these funds were not lost, but had “been, in fact, seized and safeguarded,” and it was actively working to get those funds released. It went on to chastise the AG for not doing more to aid and support its recovery efforts. Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office. The Double Standards Caitlin Long pointed out on Twitter, that even if the allegations were true, the NY AG was guilty of double standards. From 2009-12, Merrill Lynch, according to the SEC: commingled customer funds, used them to cover its own obligations, & had it failed its customers would have been exposed to a “massive shortfall in the reserve account.” Which is essentially what the AG is accusing iFinex of. But whilst the SEC dealt with the Merrill Lynch case without causing panic and customer withdrawals, the move by the AG has sparked just that for iFinex. 7/ So…#NewYork did good investigative work here but needs to be called to task on why the double standard, and why the "gotcha" approach? Why not do the same to #WallSt firms when they play similar shell games??? — Caitlin Long (@CaitlinLong_) April 26, 2019 She also urged exchanges to clean up their acts regarding transparency and proof of solvency, to avoid such situations. The Problem? The Attorney General’s filing, asserts that the Tether funds were extended as a line of credit, over three years, with a 6.5% interest rate. An iFinex share charge, of 60,000,000 shares, secured the loan. Entrepreneur and commentator, Alistair Milne, Tweeted the situation rather succinctly, concluding that, as long as “Bitfinex trades profitably, no problem.” TL:DR the Tether/Bitfinex news:Bitfinex have borrowed ~700mil from TetherBitfinex pay a 'fair' interest rate on this loan60million shares in Bitfinex were pledged as collateralIf CryptoCapital release the USD, no problemIf Bitfinex trades profitably, no problem — Alistair Milne (@alistairmilne) April 25, 2019 Which brings us back to transparency and disclosure. If iFinex told customers and investors about this alleged ‘seizure’ and ‘loan’, then would they now have a problem? And is the AG’s ‘gotcha’ approach really warranted in any case? Is the NY Generaly Attorney acting in ‘bad faith’? Share your thoughts below! Images via Shutterstock The post Bitfinex: $850M Lost Tether ‘False Assertion’ appeared first on Bitcoinist.com.
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New York Attorney General’s Office Accuses Bitfinex Of Covering $850 Million Losses Using Tether Funds

If you are our BitcoinExchangeGuide’s regular reader. You should already know about the shady connection between Bitfinex and Tether. This Thursday, a document by the New York Attorney General’s (NYAG) office revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. In the press release, the attorney general Letitia […]
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