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Government Threats Big Companies that Choose Libra, Says VanEck Director

Coinspeaker Government Threats Big Companies that Choose Libra, Says VanEck DirectorOn Saturday we reported how, after PayPal Holdings Inc. abandoned Facebook’s association Libra, the other big payment giants followed its example.Mastercard, Visa, eBay, Stripe and Mercado Pago have also pulled out and it seems this could become pretty large obstacle to the development of this cryptocurrency.Director at VanEck Gabor Gurbacs said the companies that abandoned Libra Association were actually pressured into leaving.As per Gurbacs, there is growing concern for Facebook’s ability to defeat coercing set up by the regulators. Let’s not forget that just two weeks ago there was a series of leaked tapes from meetings between Mark Zuckerberg and Facebook employees that exuviated light on Libra.Just for reminder, Zuckerberg then said Libra was deliberately announced too early in order to accumulate feedback from the community.Zuckerberg stated:“We have a test going in India. We’re working in Mexico and a bunch of other countries to have this rolled out broadly. The hope is to get that rolled out in a lot of places with existing currencies before the end of this year.”He also explained to his employees that Libra was intentionally announced earlier than expected, and that was in part in charge of the regulatory blowup. Zuckerberg obviously had wanted the project to receive feedback from the global ecosystem in a more “consultative” approach:“But part of what we’re trying to do overall on these big projects now that touch very socially important aspects of society is have a more consultative approach. So not just show up and say, ‘Alright, here we’re launching this. Here’s a product, your app got updated, now you can start buying Libras and sending them around.”So, logically when that happened, central banks around the world have replied with censure for this digital currency. The enormous pressure led Gurbacs to wind up with a conclusion that markets “aren’t free,” and accentuate the importance of cryptocurrency.He tweeted:> Every company that is leaving #Libra is likely, in some ways, forced to do that. It’s unfortunate and I am sorry that capital markets aren’t free.> Now you have a first hand understanding why censorship-resistance is important!> Welcome to #Bitcoin!https://t.co/xyiWMHJHuz— Gabor Gurbacs (@gaborgurbacs) October 11, 2019Also, he concluded that the Senate itself has threaten the big companies with the letter it sent.He tweeted:> This is the type of letter executives at @stripe, @Mastercard and @visa (former @Libra_ members) have received.> Many executives may have chosen not to experiment and innovate in order to avoid regulatory pressure!Sad!> America can do better!> Source: https://t.co/M36bkEKJU9 pic.twitter.com/kF3AXf9Xvd— Gabor Gurbacs (@gaborgurbacs) October 12, 2019The leaked letter was sent to Patrick Collison, the CEO and co-founder of Stripe Inc.In the letter signed by two US senators Brian Schatz and Sherrod Brown it is stated that they are deeply concerned about Libra because the key questions about risks to consumers, remained unanswered. After blaming it all on Facebook obviously wanting to rule the world, they are making a direct threat saying that:“If you take this on, you can expect a high level of scrutiny from regulators not only on Libra-related payment activities, but on all payment activities.”The whole project has been under rigorous investigation by the regulators and the US Government as well. On 23 October, Facebook’s CEO Mark Zuckerberg will show up before the House Committee on Financial Services to try to clarify all things surrounding Libra and its planned uprise. When in July CEO of Libra, David Marcus testified in front of the senate, some of its key concerns wee money laundering, financing terrorists, etc.Government Threats Big Companies that Choose Libra, Says VanEck Director
Coinspeaker

VanEck exec claims Visa, Mastercard were forced to stay away from Libra

While several dissed Facebook’s cryptocurrency venture, Libra, a few others envisioned the social media giant’s move to be a boost to the crypto-industry, due to its global reach. However, the regulatory climate that surrounds the project has been hindering its launch. Recently, the five companies that backed Libra, namely, Visa, Mastercard, eBay, Stripe and Mercado […] The post VanEck exec claims Visa, Mastercard were forced to stay away from Libra appeared first on AMBCrypto.
AMBCrypto

VanEck Explains The Investment Case for Bitcoin: 4 Reasons To Add BTC to Your Portfolio

VanEck – which is known as the first U.S investment management company performed research and released it on October 8 with the name ‘The Bitcoin Investment Case’ where it aims to determine the role of cryptocurrency in an investment portfolio. VanEck has registered 4 reasons on why Bitcoin improvises the investment portfolio upside. According to […]
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VanEck: Bitcoin improves portfolio upside, potential as “digital gold”

VanEck, known as the first U.S. investment manager to bet on gold before it broke from the gold standard, produced a report pitched at institutional investors arguing Bitcoin has “monetary value” and can improve portfolio upside. Released Wednesday by the New York-based firm, “The Investment Case for Bitcoin” outlines an exhaustive list of reasons why Bitcoin deserves a place in institutional portfolios. Purportedly, the asset increases the overall performance and reduces the risk reward profile of portfolios. On the same page as most of the cryptosphere Bitcoin proponents will recognize many of VanEck’s theses, asserting that BTC has the potential to become “digital gold.” The firm also highlights Bitcoin’s “scarcity-driven” growth, its non-correlation with traditional assets, network transfer value, and impressive historical performance. Source: VanEck The report is essentially a rehash of several well-formed hypotheses that have circulated for years in the cryptocurrency community. Yet, VanEck’s findings may carry particular weight with institutional investors in light of the firm’s success as an early gold bull, manifested today by its roughly $40 billion under management spread between 57 ETFs. VanEck, an early gold bull According to CEO Jan van Eck, his father saw great success after selling 80 percent of the firm’s stock positions to launch the United States’ first gold equity fund—a highly unorthodox move in 1968, given that at the time gold’s price was fixed to $35 per ounce to serve as a peg for the U.S. Dollar under the gold standard. When President Nixon broke the dollar’s peg in 1971, gold’s value exploded in the open market—being bought up at large as a hedge against inflation. Due to his father’s foresight, Jan van Eck said VanEck’s flagship gold fund became one of the best-performing funds of the day. Van Eck seems to think the opportunity lies in Bitcoin this time around. In 2018, he stated: “Even now we’re looking at digital assets and Bitcoin, and I said that gold was kind of the Bitcoin of its time—when Dad started the gold fund, people thought (I’m sure they thought) he was nuts. And so I think that’s a useful analogy both ways, just like most people think that Bitcoin’s kind of crazy.” With its latest report it would seem the firm’s conviction on Bitcoin has only strengthened since these comments despite having repeatedly withdrawn proposals to launch a Bitcoin ETF. Source: VanEck VanEck suggested the number-one crypto by market capitalization is in many respects superior to gold, namely its security, divisibility, portability, and transactability. This is coming from a fund whose origins are in the precious metal, further affirming Bitcoin’s potential. The post VanEck: Bitcoin improves portfolio upside, potential as “digital gold” appeared first on CryptoSlate.
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The Market Responds Nonchalant to CBOE BTC ETF Pull Out

Yesterday, 23 January, the US Securities and Exchange Commission released a two-page document revealing the temporary withdrawal of the proposed rule change by the Chicago Board Options Exchange (CBOE) BZX Exchange Inc. This proposed rule change was said to lay the groundwork for the long-anticipated VanEck/SolidX BTC ETF

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Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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$100K Bitcoin Price Valuation | Stock To Flow Model? Electroneum ETN | Tron TRX Poloniex

Less than 3 million $BTC left to be mined. Bitcoin halving in 208 days. https://twitter.com/Altcoinbuzzio/status/1185356950688550912 When can you expect a 100k BTC - Real Vision Interview with Plan₿ https://twitter.com/realvision/status/1185245355061010437 https://www.newsbtc.com/2019/07/14/refreshed-model-bitcoin-btc-to-see-100000-after-2020s-halving Response to Above Model https://twitter.com/Super_Crypto/status/1185335547805556741 Bitcoin Halving to Push Market Cap Into the Trillions? https://beincrypto.com/dramatic-bitcoin-halving-to-push-market-cap-into-the-trillions Bitcoin as a Savings Technology https://bitcoinmagazine.com/articles/bitcoin-as-a-savings-technology-are-interest-accounts-worth-the-trade-offs Poloniex finds new backing led by Tron’s Justin Sun https://eng.ambcrypto.com/poloniex-splits-from-circle-finds-new-backing-led-by-trons-justin Electroneum ETN is Testing BETA App for AnyTasks Platform https://www.altcoinbuzz.io/crypto-news/product-release/electroneum-is-testing-beta-app-for-anytasks-platform Sign up for Altcoin Buzz FREE Newsletter: http://eepurl.com/dnIEz1 CRYPTO.COM MCO $50 REWARD https://platinum.crypto.com/r/k7tsgv2xc0 Sign up for eToro https://tinyurl.com/yxwa8vbt ----------------------------------------------------------------------------------- Visit our website: https://altcoinbuzz.io Connect with us on Social Media: Twitter: https://twitter.com/Altcoinbuzzio Facebook: https://www.facebook.com/altcoinbuzzio/ Telegram: https://t.me/joinchat/DLi8Ug8negQrbwYO-oqNRA ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ -------------------------------------------------------------------------------- #bitcoin #cryptocurrency #altcoin #altcoins #crypto #BTC #ETH $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Startup Kava Ready To Raise $3 Million Through IEO On Binance

A few days ago, the Binance cryptocurrency exchange announced the Kava (KAVA) token sale on the Binance Launchpad. This is one of the many projects that conducted an […] The post Startup Kava Ready To Raise $3 Million Through IEO On Binance appeared first on UseTheBitcoin.
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Tron [TRX] Up 5% Amid Rumours of Justin Sun Investing in Poloniex

Tron (TRX) has grown 5% in the last 24-hours following rumours of Tron CEO Justin Sun investing in Poloniex’s new digital firm.  Justin Sun May Invest in Poloniex On Friday, cryptocurrency exchange Poloniex announced in a blog post that it was spinning out of Circle and forming another company – Polo digital assets with new backers and a global focus. Among Poloniex developmental plans is focusing on global traders and spending $100M on expanding and developing the platform. Also, US customers will no longer be able to use Poloniex from the next month. According to rumours, one of the new backers of Poloniex is Justin Sun. The unconfirmed news comes from several Circle employees who refuse to be named. According to sources, Justin Sun is leading the Asian investment consortium backing Poloniex’s new company and he visited Circle’s Boston headquarters regarding the same yesterday and today. Justin Sun has not yet confirmed if the rumours are actually true. TRX Up 5% Amid Rumours TRX has grown 5% in a sluggish market in the last 24-hours, and this upward movement seems to have come as a reaction to the news of Sun’s plans of investment. Source: CoinMarketCap Tron began the week at $0.0161. It reached a weekly high of $0.168 on Tuesday, but it could sustain the upward movement for long, and it closed at $0.0157. On Wednesday, it tumbled further and hit $0.0148 before bouncing to $0.152. On Thursday, it plunged to the weekly low of $0.0146, but embarked on an upward movement again, closing at $0.0154. Yesterday, plummeted to a low of $0.0147, but began an upward journey again to reach $0.0155. Today, it rose to $0.0157 to mark a nearly 5% gain in a 24-hour period. At press time, it is trading at $0.0155. Other Developments at Tron Today, Tron announced the details of its association with Huobi Global. Justin Sun tweeted that users would now be able to deposit TRC20-USDT on Huobi with upto 30% Annualized Percentage Rate (APR) interest as a reward. Source: Twitter Today, as an update on its partnership with the sports betting platform, Sportsbet.io, Tron announced that users would be able to use their TRX to bet on the platform from October 20. The post Tron [TRX] Up 5% Amid Rumours of Justin Sun Investing in Poloniex appeared first on Coingape.
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