Winklevoss Twins Reclaim Billionaire Status After Bitcoin’s Massive Price Increase Amid New Book Release

Winklevoss Twins Reclaim Billionaire Status After Bitcoin’s Massive Price Increase Amid New Book Release
  • Tyler and Cameron Winklevoss regained their “billionaire” status after Bitcoin’s price surge
  • The digital currency skyrocketed during the last few months

The Winklevoss brothers have just recovered the billionaire status after the price increase that Bitcoin experienced during the last few days. According to Bloomberg’s Billionaires Index, the net worth of the twin brothers’ has surged to $1.45 billion.

Winklevoss Brothers Recover Their Billionaire Status

At the beginning of the year, they had only $654 million, which shows that their net worth is closely tied to the price of the most popular digital asset. Bitcoin (BTC) has recently moved close to $13,700 and it dropped to $10,800 in 24 hours.

During a conversation with Bloomberg, Qiao Wang, the director of product at crypto startup Messari, commented about the current market situation:

“Confidence is certainly returning. The difference between now and the last time Bitcoin reached $13,000 is that the market is currently far more rational.”

Moreover, the Winklevoss brothers have their own cryptocurrency exchange called Gemini, which allows users to trade and store Bitcoin and other digital assets. Exchanges are generally very profitable for companies and allow users to have access to the crypto market in a very easy way.

Now, their wealth stands at its highest point since March 2018 and soared around 120% from $654 million as of January this year.

Tyler Winklevoss said that they are one of the most regulated crypto platforms in the world. He considers that their platform is also one of the most secure around the world for storing digital assets.

At the same time, the Winklevoss brothers have been involved in different controversies with Facebook’s Mark Zuckerberg regarding the creation of the Facebook social media network. Indeed, Facebook has also recently launched a new digital asset called Libra that aims at improving transfers and helping users without access to financial access to be connected to it.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Dukascash Stablecoin Launches by Swiss Bank Dukascopy, Backed by Three Fiat Currencies

Dukascash Stablecoin Launches by Swiss Bank Dukascopy, Backed by Three Fiat Currencies
  • New stablecoin will be launched in Switzerland, linked to three different fiat currencies.
  • The official website is already available, and there will be a public testing phase of the stablecoin soon.

Reports circulated yesterday that the Swiss SIX Stock Exchange was encouraging the local central bank to launch a stablecoin that could be used within their country. Between that encouragement and the recent changes to the Libra whitepaper, it is clear that the market desires another stablecoin, and the Dukascopy Swiss bank is listening.

According to an article from Finance Magnates, the bank is revealing a new stablecoin that they have dubbed “Dukascash,” just four months after launching the Dukascoin, a cryptocurrency.

Dukascash is an ERC-20 standard token, hosted on the Ethereum blockchain, and the forex firm states that this is the first time a stable cryptocurrency coin has been made available for public use by a regulated and license Swiss bank.

This new stablecoin will be tied to a group of tokens, and its value will be supported by three major fiat currencies – the Euro, the US dollar, and the Swiss Franc. Every time a Dukascash is minted, the equivalent value is then purchased and stored in fiat-linked tokens, which will require significant oversight.

The bank wants to ensure that the public is given full transparency with their activities, so they have published the addresses for their reserves in fiat currency for the tokens. Those addresses, according to the Dukascopy bank, are:

  • EUR+ 0x57dae83653dd99e876ff1f11b970c686b90a9a2e
  • USD+ 0x3ecf807b8a10e053d5273312f2384e5d59f81057
  • CHF+ 0x18aa37548adc1826411b5da2aa026e7e7af9ca4f

One of the other major benefits to the introduction of Dukascash is that the bank would oversee all of these transactions, and they are a quite reputable and trusted financial institution. Even though that oversight makes the cryptocurrency not that decentralized, there is the reassurance that financial authorities would recognize and accept the bank statements.

According to the new statement from Dukascopy, token issuance would first be a part of a public testing phase, and only “crypto industry professionals” would be involved at the time. Every transaction has to be at least 1,000 tokens with these professionals.

The official website for Dukascash is exclusively in English, but it offers a lot of information about the crypto product to promote more visibility and updates to the progress. The official whitepaper for Dukascash is due to be released, which will be open to the public for criticism.

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Author: Krystle M

Binance is Officially in Talks With Facebook Over its Libra Platform

Binance-is-Officially-in-Talks-With-Facebook-Over-its-Libra-Platform

According to statements coming from the Chief Strategy Officer of Binance, the exchange has officially made and been in contact with the social media giant – Facebook.

Having spoken during the Fintech Junction Conference in Tel Aviv, Israel on Thursday this week, Binance’s CSO, Gin Chao had made it clear that the exchange is currently in the early stages of discussions with the social media company regarding its ongoing development of the platform and cryptocurrency – Libra.

Chao went on to clarify that these talks were, in faction official. “We have had an official dialogue with Facebook,” Chao continued on to explain.

“With regarding listings specifically, right now they are going to be on a so-called ‘private chain.’

So that means they won’t be looking for external liquidity.

“However, from what we understand the potential to be, that would lead them to want a secondary market. Currencies benefit from a secondary market, so it would be in their best interest to want to be listed.”

They’re not the Only Ones

While these discussions between the two companies are officially taking place,  Chao did go on to note that these same discussions were “very much at a preliminary stage.” The Strategy Officer further added that these conversations with Facebook were not hinged entirely on the cryptocurrency, with some discussions being

“largely focused on dealing with infrastructure.”

While the Binance team have been in direct contact with Facebook over a matter of discussion topics, Chao is very much under the impression that it’s only a matter of time before other crypto exchanges seek to engage in similar talks with Facebook over Libra.

“It wouldn’t just be in [Facebook’s] interest to list their coin on our exchange,” Gin Chao continued on to comment.

“It would also be in their interest to list on other exchanges as well and that’s probably going to happen.

“So once they go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them.”

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Author: James Fox

Bisq DEX Records Highest Ever Bitcoin Transaction Volume Due to LocalBitcoins Banning Cash Trading

Bisq-DEX-Records-Highest-Ever-Bitcoin-Transaction-Volume-Due-to-LocalBitcoins-Banning-Cash-Trading

Bisq is seeing its volume increasing a lot recently. The company, which is a P2P Bitcoin (BTC) trading network, is getting a lot of new users after Localbitcoins, the largest P2P BTC trading platform in the world, decided to ban cash. The update on the data comes from Coin Dance, a company focused on monitoring crypto markets.

The decentralized exchange (DEX) was formerly known as Bitsquare and it is a decentralized company that serves as the platform for trades that happen without any kind of direct intermediary between the users.

Data goes up to five days ago (June 22). At the latest day, the company handled the total amount of $6.1 million USD. This was the best performance of Bisq up until today, which is a considerable milestone for the expansion of the company.

The two markets that spiked the most recently were the United Kingdom and Brazil, which is currently the second largest country in using the platform.

Localbitcoins Affected Bisq’s Growth

While Bisq has to be congratulated for its efforts, the truth is that most of the traffic actually comes from Localbitcoins and its recent decision to stop accepting cash.

Up until just now, the company accepted trades of crypto from cash, but the option was abruptly discontinued from the site. This probably made several users who wanted to use only cash to decide that they should look for a new platform.

Localbitcoins, which is the biggest platform of its kind, is increasingly concerned about Know Your Customer (KYC) requirements, so they decided to make these changes. As many P2P are very reliant on cash, as the banking system does not help them to make these transactions (what happens in Venezuela and India, for instance), cash options are pretty popular.

This change made Localbitcoins fail to capitalize on the price rise of Bitcoin, which broke the $10,000 USD mark. Obviously, the volume fell across the platform and it reached only $56.4 million USD, a lot more than Bisq, but still less than what Localbitcoins used to have.

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Author: Gabriel Machado

Teenagers Apprehended in Bitcoin Drug Ring Over the Dark Web in Dublin, Ireland

Teenager-Apprehended-in-Bitcoin-Drug-Ring-Over-the-Dark-Web

While there are many advantages and benefits that cryptocurrency has brought the world there are a number of downsides and one of these is the use of cryptocurrency for the purposes of committing crime.

This has been an issue as law enforcement around the world has reported more incidents of scams, crypto being used for illegal activity and so on and while there is more knowledge about crypto and thus, more chances of such crimes being persecuted, the menace continues.

One of the most recent crypto crimes that have been uncovered is a drug smuggling ring whose kingpin had been taking advantage of teenagers as young as 14 to store large amounts of narcotics that had been purchased over the dark Web.

According to reports, the kingpin ran an enterprise that distributed various drugs in the West Dublin area which included cocaine, MDMA and ketamine.

Recently a 17-year-old boy was arrested over with over $682,000 work of ecstasy that was seized at Lucan postal center and he is believed to be a holder for a drug dealer that was paid off for the purpose. The teenager was later released without charge.

However, he is far from the only one involved in this operation as local authorities said that there are dozens of young people in various areas within Ireland that are holding drugs on behalf of these crime syndicate in a bid to reduce legal risk and take some of the repercussions of them.

Crypto, the Dark Web, and Drugs

This highlights yet another issue that is ongoing in the industry which is the cryptocurrencies are being used heavily for criminal purposes over the dark web. The dark web is a section of the internet that is not accessible via traditional browsers and needs specialized software to access.

The dark web offers a great deal of anonymity and has created a breeding ground for the sale of drugs, human trafficking, and other criminal activities. While the advent of cryptocurrency meant that payments were easier for legitimate users, it also created a new avenue by which criminals could make their payments without getting caught as in a case like this where the drugs were reportedly purchased with cryptocurrency.

However, there is an ongoing crackdown on the dark web as international police disrupted two of their most prolific drug markets in a series of raids around the globe and seized roughly $600,000 in cash as well as cryptocurrencies such as monero and bitcoin.

This goes to show that cryptocurrency has found a great deal of use on the dark web for this purpose as it was reported that the use of bitcoin over the dark web doubled in 2018 compared to 2017 and shows no signs of stopping him with all the raids taking place.

There is a debate about whether this will affect the overall reputation of cryptocurrencies or whether it is an inevitable side effect that cannot be removed from the overall equation.

For now, the drug ring in Dublin is being investigated by local authorities as well as narcotics squads who are being joined by Ireland’s national Bureau of criminal investigation, the Garda national drugs, and the organized crime Bureau.

Should these criminals be apprehended, it could shed more light on just how far-reaching their activities on the dark web are and what role cryptocurrency played in the activities.

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Author: Tokoni Uti

Craig Wright to Take the Stand Soon for Kleiman Lawsuit Hearings Regarding Bitcoin’s Creation

Craig-Wright-to-Take-the-Stand-Soon-for-Kleiman-Lawsuit-Hearings-Regarding-Bitcoins-Creation
  • Craig Wright has continued to claim to be the true creator of Bitcoin.
  • He will be calling himself as a witness in the Kleiman vs. Wright lawsuit.

The case of Kleiman vs. Wright has been going on for quite some time, and new reports show that Craig Wright will be calling witnesses at the June 28th deposition. Wright has consistently stated that he is the creator of Bitcoin, and he will be calling two expert witnesses, a fact witness, and himself to the stand. Ultimately, since Wright will already be on the stand, he opens himself up to cross-examination.

There is already a chance that Wright will end up being placed in contempt of court after he failed to provide the list of Bitcoin holdings that he kept before the end of 2013, according to CoinDesk. This failure could lead him to trouble at either the civil or criminal level.

The chief scientist for nChain had allegedly mined over 1.1 million Bitcoin with Dave Kleiman between 2009 and 2011, believed to be stored in the “Tulip Trust.” Though Kleiman has since passed, his sister Ira is suing on behalf of his estate, asking for the fair market value and rights to the intellectual property.

The court documents say that Brett Roberson will be offering his testimony regarding digital forensics and PGP signature. His experience also covers theft of intellectual property, analyzing the activities found on a computer through a specific range of time, and recovering files that have already been deleted. All of this experience can be found in his CV, which is being used as Exhibit 1.

Kevin Madure is the second expert witness, who is the former IBM consultant and VP of cybersecurity at AlixPartners. He will be testifying to cryptography, blockchain technology, and cryptocurrency, specifically in reference to how it affects this case.

The fact witness will be Steve Shadders, who is the CTO of nChain. Previously, Shadders posted a blog titled “On the Satoshiness of Dr. Craig S. Wright.” The blog discusses the reasons that Shadders believes that Wright could be the true identity of Satoshi Nakamoto. His statements are based on his experiences with Wright, even though he claims to have decided against seeing conclusive evidence.

To ensure that he has some kind of control over the narrative, Wright is calling himself as well. Palley, a lawyer that is following the case but is not directly involved, tweeted about the issues, saying that “criminal contempt” is still on the table.

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Author: Krystle M

Congressman Warren Davidson: SEC Is Taking a “Third World” Approach to Crypto Regulations

Congressman-Warren-Davidson-SEC-Is-Taking-a-Third-World-Approach-to-Crypto-Regulations
  • The SEC is still working to establish complete regulations regarding the cryptocurrency industry.
  • Congressman Warren Davidson believes that the lack of urgency is holding back the United States.

Even with the stance that the Securities and Exchange Commission (SEC) has officially taken in the cryptocurrency community, there are still plenty of lawmakers that do not agree at all. Republican Congressman Warren Davidson is easily one of those people, criticizing the SEC for taking a “third-world, developing-economy approach.”

As Davidson explained, the approach being taking by the SEC is causing the entire United States to be left behind in the progress of the crypto industry.

The comments by the congressman were made at the recent inaugural meeting of the House Task Force on Financial Technology on June 25th. During the meeting, Davidson questioned why there is not any urgency for the regulations to be established for cryptocurrency for more clarity. The industry is becoming impatient and frustrated, because there is so much waiting on these regulations to be established.

As the SEC wastes the time of the cryptocurrency community, there are many businesses that are taking their activities outside of the United States to give them a place that offers more certainty in their regulations. He explained that certainty is necessary in the industry that there are certain actions that a cryptocurrency needs to take to be officially called an asset.

In response to the heavy criticism, the SEC’s Valerie Szczepanik defended the authority, saying that they have been “quite clear” about where they stand on cryptocurrencies.

Her statements should hold some weight, since she is the senior advisor for digital assets with the SEC, which was a position that was created with the intention of dealing with the cryptocurrency industry. Still, the rest of the industry has yet to agree. Szczepanik explained,

“We’ve put out guidance at least on [initial coin offerings] beginning in 2017 about how we apply the law to the issuance of digital assets. We’ve put out a number of statements since then. So, we believe that the guidance is clear.”

Even with these statements, Szczepanik recognized that the cryptocurrency and blockchain industries are still fairly new, which has put the SEC behind on their ability to keep up with the technology. She said that the current laws in place “are flexible, principles-based, and very broad.”

She reassured that this is hardly the first time that the market has been introduced to a new technology in need of regulation, adding that the SEC “regulate[s] around activity and conduct.”

The Token Taxonomy Act was introduced by Warren Davidson in December 2018, and again in April this year. This act would chance the Securities Exchange Act to explicitly remove cryptocurrency from its coverage. He added that imposing highly restrictive laws could ultimately prevent the industry from its innovative nature.

The vicious comments from Davidson are much like that of the SEC’s “Crypto Mom,” better known as Hester Peirce. She stated that the SEC should’ve already approved the use of a Bitcoin ETF, adding that this restrictive approach from the SEC is putting the United States at a significant disadvantage. He added, “That’s not a healthy state of being.”

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Author: Krystle M

Deutsche Bank Executive: Aggressive Central Banks Stance Makes Bitcoin More Enticing to Investors

Deutsche-Bank-Executive-Aggressive-Central-Banks-Stance-Makes-Bitcoin-More-Enticing-to-Investors
  • Deutsche Bank executive believes central banks are taking aggressive monetary policies
  • Because of it, the crypto market is going to keep growing and attract more investors

One of the reasons related to Bitcoin’s (BTC) current price increase could be the aggressive policies that central banks are currently taking. This is what Deutsche Bank executive Jim Reid said during an interview with CNBC on June 26. Bitcoin has been in a bull trend during the last few months.

Central Bank Have Aggressive Policies

The head of global fundamental credit strategy at Deutsche Bank, Jim Reid, considers that if central banks operate in an aggressive way, alternative currencies such as Bitcoin could become more attractive. Mr. Reid was making reference to the speech that the chairman of the Fed, Jerome Powell, gave a few days ago regarding central banks and the possibility to cut interest rates.

The U.S. dollar (USD) dropped versus different fiat currencies arund the world and the DXY Index reached also the lowest level in over two months. For example, the U.S. dollar hit a three-month low against the euro (EUR).

Bitcoin continued to grow amid this situation and it surpassed $13,500 just a few hours ago, the highest price ever reached by Bitcoin in over a yaer. This is very positive for the digital currency that seems to be in a new bull trend towards new highs.

Reid has also mentioned that the current spike in different virtual currencies could have been influenced by the recent announcement made by Facebook about its new digital currency Libra. This project aims at helping users perform transactions and payments in a fast and easy way compared to other means of payment currently available. Moreover, it also want to offer financial services to many regions around the world that do not have access to these kinds of services.

According to data provided by Coin360, Bitcoin is currently being traded around $13721 an it has a market capitalization of $241 billion.

Reid explained that the low-interest policies that central banks are currently taking are very aggressive and he shared his negativity about it. At the same time, he mentioned that the continuous printing money of banks could lead to the end of paper money.

The European Central Bank (ECB) has also hinted that it could be cutting interest rates even further. At the moment, Deutsche Bank AG stock price is €6.5 after reaching over €112 in 2007.

All of Today’s Bitcoin Price Analysis, Chart Forecasts and Industry News

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Grant Cardone, Founder of 10X, Offers Bitcoin’s Satoshi Nakamoto $1 Million to Speak at the 10X Conference

Grant-Cardone-Founder-of-10X-Offers-Bitcoins-Satoshi-Nakamoto-1-Million-to-Speak-at-the-10X-Conference

Grant Cardone – Founder of 10X – Has Offered To Pay The Creator of Bitcoin (Satoshi Nakamoto) 1 Million Dollars to Attend and Speak at The Upcoming 10X Conference

What could 1 million dollars get you in this day and age? Apart from a pretty good house, a Lamborgini or two, could it get you a highly reclusive and yet world-renowned figure? Probably not, but it would certainly be enough to get you plenty of publicity for the offering.

For those not in the know, Grant Cordone, the eccentric founder of the world’s largest and well known business conference – 10X – has since announced that he will pay the developer behind Bitcoin – Satoshi Nakamoto – 1 million dollars to not only show up but also to speak during his upcoming 10X Growth Conference 4, taking place in Las Vegas.

“I’m am happy to write a check to ”the real Satoshi Nakamoto” to speak at the 10X Growth Conference where 10X entrepreneurs, business owners, marketers, and blockchain developers will gather.” —Grant Cardone

The fact that Cardone has offered to pay Nakamoto through the medium of a check instead of a more ‘modern’ medium doesn’t bode well for his chances of attracting the legendary architect of decentralized money.

Regardless, the 10X Growth Conference is an annually hosted conference, with the next one taking place from February 21st to 23rd 2020, and based in Mandalay Bay in Las Vegas, Nevada. Among those in attendance is a range of celebrity speakers within the industry, along with A-List entertainment.

One of the added advantages of the conference is that there are plenty of networking opportunities with major players in the business world, along with a range of parties and highly informative content.

While it is certainly not likely that Nakamoto will take up Cardone on this not-so-generous offer, it is far more likely that this is a publicity stunt orchestrated in order to generate hype about this upcoming conference. Which, considering the fact that there are reports of this offer, demonstrates that it’s working.

In the past, the 10X Growth Conferences have featured a range of celebrity speakers such as Steve Harvey, John Maxwell, Daymond John, Sarah Blakeley, and Bethany Frankel. These speakers have also been followed by a range of A-List performers and musicians like Snoop Dog and Lil Jon.

At this moment in time, there have yet to be any confirmed speakers for the event, neither has there been any line-ups announced for performers, but this is an event scheduled for February 2020, major names, speakers and performers are likely to be expected in the near future.

For the 10X Conference, an individual like the founder and creator of Bitcoin would definitely be an exceptionally big draw for the company, as well as a magnet for Bitcoin enthusiasts, and more than worth the 1 million dollar investment. Even if this is a way for Cardone to generate more publicity and get eyes fixed on 10X. There is an understandable draw that Bitcoin has for people – considering the fact that it has managed to surge up by a staggering amount over this month alone – increasing rapidly from $5,000 to $11,000.

Satoshi Nakamoto’s real identity has been the subject of continuous debate over the last few years and is continuously stoked by a range of influencers over this same time. Culminating in recent discussions by the likes of John McAfee, who is the creator of the famous anti-virus software – McAfee, who stated that he knows the true identity of Nakamoto. He further asserted that he is very much alive and living within the United States.

About Grant Cardone

Cardone himself is a well known writer, entrepreneur and current Private Equity Manager with more than 1.2 billion dollars worth of assets under his management.

Along with these notches to his financial bow, he is also well known as a New York Times Best Selling Author and, according to Forbes Magazine this year, he is known as the number one expert in sales across the world, along with being called one of the top CEOs that users should follow on Social Media.

Cardone himself currently owns and operates more than seven companies that are responsible for more than 150 million dollars in annual sales, and has since launched the Grant Cardone Foundation – which is dedicated to support and improve the lives of children who grew up without fathers.

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Author: James Fox

Germany’s Financial Authorities Urge for New Standards, Amid Facebook Libra’s Whitepaper News

Germanys-Financial-Authorities-Urge-for-New-Standards-Amid-Release-of-Libras-Whitepaper
  • Facebook released the whitepaper for the new Libra cryptocurrency on June 18th in several different languages.
  • Germany’s financial authorities are now hoping to develop regulations that can govern the use of Libra in their country.

The new whitepaper from Facebook provides a lot of information about their new cryptocurrency, and there are countries everywhere seeking to find the best way to handle this cryptocurrency, and Germany is no different. The head of the German Federal Financial Supervisory Authority, also known as BaFin, is encouraging the local regulators to take action in creating new standards.

While at the International Club Frankfurter Wirtschaftsjournalisten, the president on BaFin – Felix Hufeld – stated that it would be in the best interest of regulators to not stand aside with Facebook.

He added that Libra could pose a lot of control questions, after being launched. He implied that some of these measures may be introduced to the market by BaFin itself, though international framework is a necessity as well. Hufeld commented:

“We certainly can not just watch. We will have to respond appropriately in any way. I can only hope that we will succeed in developing at least European, if not globally, basic standards.”

He also warned the public that this cheap money solution could be dangerous for banks, adding that lowering interest rates would put a lot of pressure on those institutions. Ultimately, banks may only be able to solve these issues by merging with other banks or completely changing the business models that govern them.

There have already been other countries that have spoke out on the potential effect that Libra can have on the economy. From the Bank of France, Governor Francois Villeroy de Galhau voiced concerns that the new stablecoin will need to comply with the current anti-money laundering regulation. The governor added that the stablecoin will also need to get banking licenses for operation.

Thomas Moser, an alternate member of the Swiss National Bank’s governing board, commented that he feels more “relaxed” about Libra while at the Crypto Valley Conference in Zug. He added that Facebook has “clearly indicated that they are willing to play according to the rules, they have been contacting the regulators.”

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Author: Krystle M