Bitfinex Adds Three New Stablecoin Trading Pairs, USDC/USDT, PAX/USDT and TUSD/USDT

The crypto exchange Bitfinex has recently announced on Twitter that it would add three new stablecoin pairs to its rooster.

According to the company, clients will now be able to trade three stablecoins for Tether. These new trading pairs are USD Coin (USDC/USDT), Paxos Standard (PAX/USDT) and TrueUSD (TUSD/USDT).

Bitfinex is not only a crypto exchange but also the company that issues Tether, so the new pairs make sense. Trading starts today at 8:00 a. m. UTC. Only users who are already verified and whitelisted by the Know Your Customer (KYC) system of the company will be able to trade the new assets.

The Legal Trouble Surrounding Bitfinex

Despite continuing activities, as usual, it is fair to say that Bitfinex and Tether are living quite troubling times. At the moment, the two companies are facing the New York Attorney General (NYAG) in a battle to prove that the companies did not do anything illegal when Tether loaned $850 million USD to its sister company.

The company was being used to back the price of the stablecoin, so the NYAG argues that Bitfinex broke the law while the company argues that the whole case is not even in the jurisdiction of the NYAG because Tether does not have any clients who are resident in the New York state.

At the moment, the two companies are in a process to collect documents to prove that they did not break the law. To compensate the Tether holders, the company has started an Initial Coin Offering (ICO) to sell LEO tokens. The money will be used to pay the debts.

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Author: Gabriel Machado

CoinMarketCap (CMC) to Announce A New Liquidity Ranking System On November 12

Renowned data source for all the trading cryptos, CoinMarketCap, has announced that it will release a new liquidity ranking system on November 12, 2019. In a virtual roundtable that was held on August 27, CoinMarketCap revealed the news. The roundtable dubbed DATA; Data Accountability & Transparency Alliance, brought together various exchanges, as well as projects found in the crypto industry, was started in May 2019.

DATA prides itself of major players in the crypto space such as Binance, Bittrex, Huobi, OKEx, among others.

At the DATA roundtable, CoinMarketCap came up with three topics of presentation to be deliberated by the alliance: utilization of liquidity metrics, own reported data as well as an integrated crypto asset ID database. CMC also stated that a dashboard that will enable own reporting is set to be introduced on Oct. 14, 2019.

According to CMC the plan to utilize liquidity metrics in the ranking of the exchanges came about due to numerous problems associated with wash trading that is widespread as per the volume rankings being used in the firm’s website currently.

According to CMC the use of liquidity may pose some challenges; as a non-numeric, it regularly changes and becomes hard to note as well as report.

Consequently, CMC said that retention of volume metric will require redesigning and this cannot be done easily hence the need for improved rankings and creation of a smooth playing ground.

In regard to own-reporting, CMC suggested that the measure was meant to enhance openness in the market. The company proposed offering badges as gifts to platforms that will divulge various data points. The firm gave examples of badges like KYC, the physical location of the platform’s offices as well as order books that can be seen by other crypto exchanges.

Cointelegraph reports that earlier this year CMC revealed that it would start striking off exchanges from its website for failing to offer compulsory data beginning June 2019.

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Author: Joseph Kibe

OKEx To Start Daily Settlement of Ethereum Classic (ETC) and Bitcoin SV (BSV) Futures

OKEx, one of the largest crypto exchanges in the world, has recently announced on social media that it would start a offering daily settlement of its futures contracts for Bitcoin SV (BSV) and Ethereum Classic (ETC) today.

This part of the company’s plan to have more daily settlements for its futures contracts. Tron (TRX) futures contracts already started to receive them some days ago and other tokens are to follow.

The next update will happen on August 28, when daily settlements for Bitcoin Cash (BCH), Litecoin (LTC) and Ripple’s XRP tokens will start. On August 30, EOS, Ethereum (ETH) and Bitcoin (BTC) will also get them.

It was also informed that perpetual swap settlements would be adjusted and that their funding times and settlement schedules would change. For instance, the frequency of perpetual swaps would be diminished from 3 times a day to only one. Funding would remain the same, though.

Also, in case there was any unexpected issue with volatility or something similar that could change the schedule, all users were warned that they would receive a notification.

At the moment, OKEx can be considered the largest crypto exchange of the world by adjusted volume. It recorded around $1.16 billion USD worth of cryptos being exchanged in the last 24 hours.

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Author: Gabriel Machado

Renowned Crypto Custodian BitGo Now Supports EOS Multi-Signature Custody Wallet Services

Cryptocurrency custodian and wallet provider BitGo has announced the launch of multi-signature wallet and custody services for EOS, the eighth largest cryptocurrency by market capitalization.

BitGo offers security, custody, and liquidity services that are built on multi-signature security. The company said that it now supports over 200 coins and tokens, allowing institutional clients to hold a wide range of assets.

EOS is the native token of the EOSIO network, published by Block.one which raised a staggering $4 billion via an initial coin offering (ICO) of EOS tokens as per a report by Business Insider.

EOSIO is a blockchain platform built for both public and private use cases. The open-source blockchain protocol has become quite popular with decentralized app (dApp) developers owing to the low cost of transactions and quick transaction times and has hundreds of dApps in active use on several EOSIO-based blockchains. BitGo’s chief technology officer Ben Chan said:

“The EOSIO software has some innovative differentiators like its high transaction capacity and fee model that required our engineering team to scale our platform. We were able to successfully create an experience for EOS users that is seamless and consistent with how we support other coins and tokens.”

Chan stated that his firm’s culture and approach has always been to build infrastructure and platforms to help drive the global economy and his firm was excited to extend this infrastructure to support EOS for the firm’s clients.

As per the press release, EOS custody is available through either BitGo, Inc. or BitGo Trust Company, a qualified custodian purpose-built for digital assets.

Earlier in June, Block.one announced a new blockchain-based social media platform which will reward and return control to social media users. Called “Voice,” the platform will be launched on the EOS Public Blockchain.

Cointelegraph reports that BitGo recently hired Pete Najarian as the company’s Chief Revenue Officer. Najarian joined BitGo from its rival Xapo, where he served as Senior Vice President of Institutions. BitGo was Founded in 2014 in San Francisco and looks forward to adding more budding cryptocurrencies in the future according to the company’s head.

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Author: Joseph Kibe

Blockchain Tech May Be Used By The FDA for Drug Recalls and Medical Product Reviews

The U. S. Food and Drug Administration (FDA) has recently announced that it may use blockchain technology in the future. According to the organization, this technology could be used to improve medical product reviews and recalls.

Amy Abernethy, deputy commissioner of the institution, has affirmed that the main goal of the organization with the technology to modernize the way that healthcare is able to communicate with other important agencies.

According to her, the organization will use blockchain, artificial intelligence (AI) and APIs to create a fully interoperable system that will handle the way that information is shared and medicine is reviewed.

Abernethy affirmed that this will make the agency much more agile and efficient and that new traceability solutions will certainly allow it to crosscheck information better and to guarantee that the quality of data will be solid.

With blockchain technology, a system in which information is sent quickly and can receive feedback in real-time may be possible. The whole process of approving a medicine will become quite faster this way and less paperwork will be needed as blockchain is an immutable ledger that can easily store all the information.

Another way in which technology can be used is to improve the quality of medical surveillance and to determine when to recall medicine. The system will let recalls happen faster and with fewer problems, it was affirmed. Also, medicine will possibly become more targeted and individual with the aid of these solutions.

The new system is expected to be launched in around a month or two, according to the deputy commissioner.

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Author: Gabriel Machado

Renowned Crypto Advocate, Patrick Byrne, Hangs His Hat Up As Overstock CEO in Light of ‘Deep State’ Comments

Renowned crypto champion Patrick Byrne has announced his resignation as Overstock CEO. Byrne was a rare ardent crypto worshipper despite leading a public US company.

In a letter to the shareholders on Thursday, Byrne said he was stepping down as the CEO of the company and also as a member of the board of directors as a result of insurability. Byrne also cited that his romantic relationship with Maria Butina, a Russian agent who is currently serving an 18 months jail time after she pleaded guilty of working as a foreign agent was part of the reason he was resigning.

Byrne’s position will be taken over by Johnthan Johnson in an interim capacity. Johnson is currently the president of Overstock’s blockchain venture Medici Ventures, said a press statement released by the company.

In an acceptance statement, Johnson praised Byrne as a visionary leader who was ardent about innovations and whose under his 20 year tenure the company had achieved greater heights. Johnson said it will be his mission to continue building Overstock’s achievements as well as success.

Johnson stated that he was confident that the company’s future was bright both in retail as well as blockchain.

On his part, Byrne stated that having worked with Johnson for a long time, he had no doubt that Johnson was ready for the job and will successfully oversee both the retail as well as the blockchain businesses.

During his reign as Overstock CEO, Byrne made the company crypto friendly, including the starting of tzero, the company’s crypto token platform. He also made the company to accept Bitcoin as a mode of payment.

Cointelegraph reports that in an acting capacity, Johnson will still serve as a member of the board of directors for both Medici Ventures and the company’s security token trading platform tZERO, as well as act as president of Medici. Meanwhile, Kamelia Aryafar will take Byrne’s place as a board member and executive vice president of Overstock Retail.

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Author: Joseph Kibe

Kraken To Start Brave Browser’s BAT Token Along with WAVES Coin Trading This Week

Kraken, one of the major cryptocurrency trading platforms in the United States, has announced on its official blog today that the Basic Attention Token (BAT) and Waves (WAVES) would be added to its platform.

Trading is set to be started at 13:30 UTC on August 22, at the same time that people will be able to buy and sell the two new assets. According to the company, it may take a few minutes before trading is properly started because deposits have to be credited before the assets are added to the client’s account.

A total of eight new trading pairs will be added. The two tokens will be traded against the U. S. dollar (USD), euro (EUR), Bitcoin (BTC) and Ethereum (ETH).

Kraken has also affirmed on the post that new assets are set to be listed soon, but they were not revealed by the company.

About the New Tokens

The Basic Attention Token (BAT) is an ETH-based cryptocurrency which was created by Brave, the company behind the Brave browser. It was created in order to reward users for taking time to watch ads. Right now, a BAT token is worth $0.18 USD, 0.5% up in the last 24 hours. Its total market cap is around $232 million USD.

Waves (WAVES) is a decentralized platform that enables the development of apps just like Ethereum does. Each WAVES token is worth $1.22 USD, 3.8% down in the last 24 hours. The market cap is around $121 million USD.

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Author: Gabriel Machado

Eleven New Crypto Projects Join Messari Disclosures Registry Including ADA, LSK and Beam

A total of 11 new projects have announced this week that they joined the Messari Disclosures Registry. The registry includes several projects, the most popular new ones are Cardano, V Systems, Lisk and Beam, all which are in the top 100 crypto projects by market cap. Akropolis, Fusion, Keep, Permission, Orbs and Elrond were also added.

With these new projects becoming a part of it, the registry now has a total of 54 projects. Back when it was launched at the end of last year, the Messari registry had only 12.

The Messari Registry

The registry was created to bring more transparency to the crypto market. Each project can decide on its own whether to participate. If the project does participate, they disclose information about their business to investors, which can check the database at any time before they invest in it.

According to the founder of Messari, Ryan Selkis, being able to find basic information about cryptocurrencies is essential to make good investments, which are able to let the industry move forward.

It was in order to distribute information freely that the registry was first created back in 2018. With the new companies that were listed now, the Messari Disclosures Registry is set to become even more important. Cardano alone has a market cap of over a billion USD and a large community, so its entrance is bound to attract more curious investors to the database.

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Author: Daniel W

Samsung Finally Announces Integration of Bitcoin (BTC) Into its Blockchain Smartphone

Samsung has officially announced its integration of Bitcoin into its upcoming and series of blockchain-enabled smartphones. This news comes in the wake of the company’s partnerships with a range of blockchain-enabled or specialist companies like Enjin.

This move also comes in the months after the launch of the Samsung Galaxy S10 series back in mid-March 2019. Along with this broader announcement, the team also introduced its community to its bespoke ‘Blockchain Keystore’ which offers its users broader access to cryptocurrency storage and payment solution for Ethereum and related ERC-20 Tokens.

Even though this includes a wide range of dApps that leverage Ethereum, Samsung actually had an unspoken exclusion of the number one cryptocurrency in terms of market cap.

The company that is otherwise known as one of the tech giants operating within South Korea has since announced that it will be including Bitcoin related features to its developer kit (SDK) for a wider array of S10 models (S10e, S10, S10+ as well as the S10 5G) including its Note10 and Note10+ models.

The Samsung-based SDK solution actually allows those on Android Devices to link their dedicated blockchain addresses to Samsung’s blockchain Keystore. From there, users will be able to sign cryptocurrency transaction as well as check their Keystore status.

Some of the blockchain features on these phones remain geographically exclusive to certain areas. For the moment, these consist of the following: Canada, Germany, South Korea, Spain, Switzerland, the U.S., and the U.K.

Some of the newest additions to the SDK also include support for other native cryptocurrencies such as Klay, from the Klaytn network, which was recently launched by the Korean-based messaging solution – Kakao.

During the latter part of last week, Kakao’s blockchain subsidiary, known as GroundX has since teased at the launch of its upcoming wallet for Klay referred to as Klip, and has also announced the introduction of its very first decentralized dApp partners.

Samsung now officially lists 17 dApps within its digital Keystore and is actually in the process of developing its own, which is based on top of Ethereum. It has been alluded to that it may be working to release its own token, according to reports from the firm.

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Author: James Fox

IBM And Indian Telecom Firm Tata to Become Part of Hedera Hashgraph’s Governing Body

Technology giant IBM and the Indian telecom company Tata Communications have recently announced that they would be a part of the Hedera Hashgraph, a blockchain network that was created for enterprises.

The blockchain network has affirmed that the presence of these two companies is set to decentralize even more control of the company. At the moment, the company has 31 of its 39 seats for the governing council still open.

Mance Harmon, CEO of Hedera Hashgraph, affirmed that the governance model of the company ensures that no company can consolidate power alone. This is usually done via a checks and balances system that prevents one company from getting all the power alone.

Hedera was created in order to facilitate payments using the blockchain technology and to support smart contracts and file storage. The company was able to raise $124 million USD so far via future token agreements.

The code of the company is fully open for viewing, but it is patented, meaning that it is not open source, only transparent.

According to IBM, one of the most interesting aspects of the network is how private networks can be used to interact with public networks. The Hedera Consensus Service, for instance, can be used to connect public networks such as the Ethereum blockchain with private ones such as Hyperledger Fabric.

Because of this, IBM is certain that this new technology can be used in order to make its own offerings more effective and well-connected to the rest of the blockchain world.

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Author: Gabriel Machado