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Accounting Firm Grant Thornton LLP Releases Its Monthly Report On Circle’s USDC Tokens

Accounting Firm Grant Thornton LLP Releases Their Monthly Report On USDC Tokens In a market plagued with unscrupulous individuals, keeping faith in the industry is hard. The precariousness of the situation has not been lost on most tokens. To combat this growing concern, coins have started to work with third party's to ensure independent reporting. This is a practice that Circle has inculcated to ensure transparency and boost confidence For the uninitiated, Circle has been promoting their USDC, short for USD Coin. The alt-coin has been promoted to enable free movement and trade within the crypto market. While built as an ERC20 compliant coin on the basis of the Ethereum blockchain, it is an open source project. The main attraction is that, as the service's website explains, “the service works within US money transmission laws, uses established banks and auditors and runs on blockchain technology via smart contracts. ” Yesterday, on the 15th of Feb, Grant Thornton LLP, a top accounting services firm, issued their forth monthly attestation report on the US dollar reserves that are currently backing its USDC pool. The independent scrutinization process showed that all seems to be as expected. At the time of reporting the accountants noted that there was the expected equilibrium between Circle’s total number of issued and outstanding USDC tokens. The report examined data until the end of last month and noted: “USD Coin (“USDC”) tokens issued and outstanding = 307,793,724 USDC US Dollars held in custody accounts = $307,848,312” This is extremely important as the blockchain firm has stressed that all their USDC tokens are always backed by an equal number of US dollars, in their custody at all times. The report mentioned that as per their audit, data had revealed that no excess coins will be in circulation, apart from those dollars already in the company's possession. Yet, the firm noted, the total dollars in reserve could “exceed coins in circulation due to the timing of the audit”. This might lead to stray instances of transactions where coins may have been minted after the publication of the report, as money might have been deposited in advance. This sort of focus on transparency and accountability with regards to financial information needs to be applauded. Circles commitment to their customers is indeed a beacon of hope for the industry and the baseline of standards that should be expected from them. One can only hope that other crypto businesses take a leaf out of how Circle has conducted themselves and make the industry respectable again.
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Circle’s Head of Partnerships Joins Blockchain Startup Celo

Circle’s Head of Partnerships Joins Blockchain Startup Celo Chuck Kimble, who helped to launch the USD-pegged stablecoin USD Coin (USDC) at crypto finance company Circle, has reportedly joined blockchain firm Celo as head of strategic partnerships. The development was reported on Feb. 6 by Celo’s Medium page. Celo is a blockchain startup working to create […] Cet article Circle’s Head of Partnerships Joins Blockchain Startup Celo est apparu en premier sur Bitcoin Central.
Bitcoin Central

Chuck Kimble Bids Farewell to Circle, Taking on a New Role with Celo Blockchain Startup

Chuck Kimble has been the head of partnerships for Circle since he joined the company in June last year. However, after some personal deliberation, he has chosen to go a different direction, choosing to work a similar position for Celo. Celo is also a blockchain startup, like Circle, and the new position that Kimble is fulfilling is fairly similar to his former role. In a press release, the company said that the addition of Kimble will help them “to bring better financial products to emerging markets and under-served populations around the world.” The founder of Celo, Rene Reinsberg, added to that comment, saying, “Chuck brings a ton of business development and digital payments experience to Celo and he’ll play an instrumental role in encouraging the development and scaling of products globally. Chuck is highly respected in the financial tech industry and he understands how digital payment services can help people and families with no access to financial services.” During Kimble’s time with Circle, he was in charge of leading the development and promotion of USDC, a stablecoin. He was a part of a Circle-created consortium called Centre.io, in collaboration with Coinbase, helping to promote USDC. Along with its position as a stablecoin, USDC runs on the Ethereum blockchain as an ERC-20 token. The chief financial officer of Circle, Naeem Ishaq, said, “Chuck joined Circle to lead our [financial institutions] partnerships efforts and participate in a variety of projects, including work on the adoption of USDC. In his brief time with the company, he helped to drive USDC adoption across a diverse cross-section of the crypto industry.” With this work, USDC’s market capitalization makes it the second-largest stablecoin in existence. It ranks as #19 of all cryptocurrencies around the world. Kimble preceded his time at Circle with three years at a password manager and digital wallet app company called Dashlane. He also worked on the Square staff and was in charge of supervising teams in four different locations, including Singapore and London. In the Celo press release, Kimble added, “I’ve spent the vast majority of my career advancing digital payments and I see tremendous opportunity for Celo to improve the livelihood of billions of people around the world who today are involuntarily detached from the global financial system.” Celo also recently welcomed Brynly Llyr from Ripple to their team in September. The company has been the subject of interest for multiple investors, including Coinbase Ventures, Andreessen Horowitz, and Polychain Capital, along with founder Jack Dorsey of Square. Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Coin Price Watch (Feb 6th)
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Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto?

While Elon Musk has yet to formally delve into the Bitcoin space, he has long been a fabled member of the crypto community. Since finding his way to the headlines of the world’s media, the Tesla chief executive’s pro-innovation mindset has struck a chord with many enamored with cryptocurrencies. In fact, some say that Musk’s unsaid raison d’etre of bettering society at large, especially by amending the world’s most harrowing issues (climate change, confinement on Earth, financial inequality), lines up with the goals held by many cryptocurrency insiders. Thus, some have even argued that Musk could be Satoshi Nakamoto. Sahil Gupta, a former intern at Musk’s second multi-billion dollar enterprise SpaceX, once infamously claimed that Musk’s brief mentionings of cryptography, economics, the C++ computing language, along with the entrepreneur overarching vision scream Satoshi. The South African-Canadian entrepreneur has done his best to keep his mouth zipped regarding his candidacy for the Satoshi title, but that hasn’t stopped him from talking about cryptocurrencies. We had @elonmusk on the latest episode of @ARKInvest's podcast! He had a few things to say about Bitcoin. "Paper money is going away and cryptocurrency is a far better way to transfer value than pieces of paper." – Elon Muskhttps://t.co/U5qOnM7nBo — Yassine Elmandjra (@yassineARK) February 19, 2019 Bitcoin Is “Quite Brilliant” While the crypto market has remained in a depressed state, save for Monday’s jaw-dropping rally, stars have begun to descend on this industry. Weeks ago, NewsBTC reported that a mass of celebrities, including the Spice Girl’s Mel B, Johnny Depp, Madonna, and Lionel Messi, had some involvement in cryptocurrency. More recently, Jack Dorsey of both Twitter and Square took to Joe Rogan to claim that the native currency of the Internet is likely to be Bitcoin. Related Reading: Twitter CEO Loves Lightning on Bitcoin: is it the Future of Fast, Instant Payments? And just on Tuesday, Elon Musk, the most well-known Silicon Valley guru, took to the New York-based ARK Invest’s “FYI” Podcast to touch on Tesla’s plans, autonomy, other innovations, such as crypto. Per The Block, who compiled his comments regarding cryptocurrencies, Musk made his comments with explicitly bullish tones. After discussing Tesla’s most recent advancements, the hosts of the podcast, the CEO and an analyst at ARK, a disruptive innovation-centric investment group, took a brief aside. They asked Musk if he agrees with Dorsey’s recent comments on Bitcoin and cryptocurrencies at large. Interestingly, Musk responded with an answer, albeit somewhat cursory. He tacitly agreed, noting that the “Bitcoin structure was (is) quite brilliant,” adding that Ethereum and “maybe some of the others” have merit too. Musk did admit that he isn’t too enamored with Bitcoin’s Proof of Work (PoW) consensus mechanism, noting that it is energy intensive. Yet, he explained that fundamentally, crypto assets are great as they bypass currency controls, especially in nations embroiled in financial and political turmoil, like Venezuela. He added that cryptocurrencies are also a “far better way to transfer value than pieces of paper,” subsequently quipping that he’s sure of this “without a doubt.” In spite of all this, he made it clear that Tesla isn’t going to foray into the crypto space in any capacity, noting that it would be a good use of his firm’s resources to prop up an offering. Musk’s abrash comments quickly elicited responses from each and every corner of the crypto space. Matt Odell, a long-time pro-Bitcoin coder and industry personality, joked that the comments “confirmed” his bias that cryptocurrencies could oust banknotes. Changpeng “CZ” Zhao of Binance noted that eventually, “[Musk] will join the brotherhood,” adding that he is unequivocally sure that the businessman will take up a crypto mantle. CZ notably called on the Tesla founder to take up the Lightning Network Trust Chain torch last week, just days after Twitter’s Dorsey openly lauded Bitcoin in dozens of tweets. Crypto Is Better Than Banknotes? While Musk made notable acknowledgments in his brief appearance on ARK’s “FYI,” what stood out to many crypto investors was his thoughts on the dichotomy between banknotes & physical cash, and crypto assets, not centralized e-money. For a brief recap, Musk simply stated that he is unequivocally sure that crypto, whether it be Bitcoin, Ethereum, or otherwise, is a “far better” medium of exchange than pieces of paper. Shocking, right? This may be deemed hearsay by pundits of the legacy world, but the world is already adopting digital mediums of exchange. Per previous reports from this outlet, Arthur Hayes of BitMEX took to his company blog to claim that platforms like WeChat Pay and AliPay have already begun to take over China’s financial system. Who’s to say that cryptocurrencies, a decentralized counterpart to these systems that tout their own currencies, cannot have a similar impact on society at large. The fact of the matter is that these digital payments systems, whether decentralized or centralized, offer benefits that cash/plastic cannot. Case in point, payments on both Bitcoin and WeChat Pay are cheap, rapid, and relatively secure. But arguably, decentralized payment ecosystems, which are non-sovereign, private, immutable, and non-censorable, are even better than their centralized peers, which is likely what Musk was touching on. Featured Image from Shutterstock Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? was last modified: February 20th, 2019 by Nick ChongThe post Billionaire Elon Musk Lauds Bitcoin As “Quite Brilliant,” Why Isn’t Tesla Going Crypto? appeared first on NewsBTC.
NewsBTC

In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange

In this edition of The Daily we cover some largely supportive remarks the famous entrepreneur Elon Musk has made about Bitcoin, the latest academic institution to launch a blockchain R&D center, and a new offering from Malta-based exchange Xdat. Also Read: Bank of Spain Report: Bitcoin Is a Solution for a System Without Censorship Elon Musk Talks Bitcoin The founder of Tesla and Spacex, Elon Musk, is once again making headlines about crypto. He recently went on the Ark Invest podcast to discuss the future of autonomous driving technologies. Most of the half-hour interview focused on the strategy behind his electric car company but the topic of cryptocurrency eventually popped up in the last four minutes. Musk commented: “I think the Bitcoin structure is quite brilliant. There seems like there is some merit to Ethereum as well, and obviously others. But I’m not sure if it’s a good use of Tesla resources to get involved in cryptos … We’re really just trying to accelerate the advances of sustainable energy. One downside of Bitcoin is … computationally it’s quite energy intensive. There has to be some kind of constraint on the creation of crypto. It’s very energy intensive to create the incremental bitcoin at this point … It bypasses currency controls. Paper money is going away, and crypto is a far better way to transfer value than pieces of paper. That’s for sure.” Shanghai’s Fudan University Launches Research Center Shanghai’s Fudan University has become the latest academic institution to launch a blockchain R&D center. Founded in 1905, Fudan is one of the most prestigious and selective schools for higher learning in China. The Shanghai Blockchain Engineering Technology Research Center is tasked with carrying out basic research in the field, developing demo applications in collaboration with the broader industry, and training talent to serve Shanghai’s economic development. Last month the University of California, Berkeley announced the formation of its own blockchain-focused startup accelerator program, the Berkeley Blockchain Xcelerator. This program is meant to help aspiring entrepreneurs create high-value ventures in the blockchain space with industry guidance from Silicon Valley. Xdat Exchange Lists 18 Trading Pairs Xdat, a new Malta-based cryptocurrency trading exchange, has announced the listing of 18 trading pairs. These comprise ETH/BTC, BCH/BTC, EOS/BTC, ETC/BTC, XRP/BTC, DASH/BTC, LTC/BTC, BTC/ETH, BCH/ETH, EOS/ETH, ETC/ETH, XRP/ETH, DASH/ETH, LTC/ETH, BTC/TUSD, ETH/TUSD, BTC/EURO, and ETH/EURO. The company has further plans to add other pairs over time. The exchange is compliant with Maltese regulations for KYC and AML procedures and caters to both retail and institutional investors. Its fiat gateway allows users to deposit funds in 12 major currencies: USD, GBP, JPY, HKD, CHF, AUD, NOK, SEK, DKK, CZK, PLN, and HUF. This selection is meant to eliminate the need for involvement of a foreign bank for the supported options and allows users to work solely with Xdat’s bank. “Xdat is on a mission to address the key problems of existing exchanges … including lack of flow of new capital, lack of trust, no approach for mass adoption, and high fragmentation,” said CEO Prashanth Swaminathan. “Our aim is to bring crypto to all. To that end, we will be working closely with our community and using their support and feedback to make our interface more user-friendly and trading as streamlined as possible.” What do you think about today’s news tidbits? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com. The post In the Daily: Elon Musk Talks Bitcoin, Shanghai’s Fudan University, Xdat Exchange appeared first on Bitcoin News.
Bitcoin News

Elon Musk Praises 'Brilliance' Of Bitcoin And Ethereum, But Clash With Tesla's Energy Stance

Main Street seems to be giving cryptocurrency a second look. Last week, Jamie Dimon and JPMorgan Chase & Co. (NYSE: JPM) announced an investment in JPM Coin, which will become the first digital token provided by a U.S. bank. This week, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk lent cryptocurrency additional validation. “Paper money is going away, and crypto is a far better way to transfer value than pieces ...Full story available on Benzinga.com
Benzinga

Elon Musk Calls Bitcoin "Brilliant" | Here's Why He's Optimistic

What are your thoughts on this news? Are you optimistic or bearish? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questions? Feel free to leave them down in the comments below! ---------------------------------------------------------------------------------------------------------- Check out Yellow: https://www.youtube.com/channel/UC2u2FXKKyIFsNBr_MlpCMfA Interested in signing up for our newsletter? Click the link below! Link: https://www.nicholasmerten.com/newsletter-dash-report-1/ Looking to file your crypto taxes? Check out TaxBit! https://app.taxbit.com/invite/DataDash/ ---------------------------------------------------------------------------------------------------------- What are your thoughts on current markets? Are you optimistic or bearish? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questions? Feel free to leave them down in the comments below! *I WILL NEVER PURSUE PROJECTS THROUGH TELEGRAM OR OTHER SOCIAL MEDIA OUTLETS. CONTACT MY EMAIL LISTED BELOW FIRST AND THEN VERIFY MY IDENTITY THROUGH A VIDEO CALL BEFORE MOVING FORWARD. THERE ARE MANY SCAMMERS IN CRYPTO. EMAIL SPOOFING IS RAMPANT, SO VERIFY MY IDENTITY THROUGH VIDEO* For consulting, speaking, or other business inquiries, please feel free to reach me at contactdatadash@gmail.com Patreon: http://patreon.com/data_dash Telegram: Alerts | https://t.me/Data_Dash Discussion | https://t.me/datadash Discord: https://discord.gg/S7MtTcB Donate NANO: xrb_3y7qi1z5kcpgi9cnk4bctus155qntiy1cszfmeh9zg7eqqqjb9imebsqf33t BTC: 14DHXJa9CgeBPf6m7UeMKE9yzAYFKPW2nV ETH: 0xa34d3461ae04953489e9aa464689c022836751d0 Want to start trading cryptocurrencies? Sign up through this link to get $10 of free bitcoin with your first purchase of over $100 ↓↓↓ https://goo.gl/woCYL6 Want to start trading coins? My top choice is Binance. ↓↓↓ https://goo.gl/DZVYPn Want to trade OTC? Caleb & Brown is my personal favorite to get started. https://partners.calebandbrown.com/datadash Looking to buy physical gold or silver? Check out the link below: https://goldsilver.com/?aff=DD Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.
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