Latest Analytics Shows 64% Of Controversial Stablecoin USDt Supply Controlled by 119 Addresses

Tether’s stablecoin ‘USDT’ continues to dominate this segment of the crypto market according to the latest statistics. However, questions on its decentralization inadequacy has been a common critic topic against the project.

Some analysts have gone ahead to term the USDT coin as the ‘most controversial’ cryptocurrency in the current market. It is also notable that Tether, the USDT parent company, is not a newbie to lawsuits with its latest being a $1.4 million for alleged market manipulation which led to the December, 2017 bull run. Tether’s recent linking to the paradise papers which basically shows the firm is the same with Bitfinex added to the list of controversies.

Despite the shortcomings, Stats show that Tether’s star has been shining over the course of 2019 compared to peer cryptocurrencies. The USDT transaction volumes in the past week hit a high of $3.5 billion; this is a significant figure given most coins are still struggling below the $100k mark. USDT investors also seem to have confidence in the coin given its average HODL period stands at 3 weeks.

However, Tether’s decentralization is still in question as the stats revealed that 119 addresses control over 64% of the network; this translates to around 22 million USDT for each address. It therefore follows that the USDT ecosystem may actually be ‘centralized’ as most of the control lies only within 119 addresses.

That said, 2019 has generally been a good year for the USDT as it not only maintained but also increased its market share in the stablecoin demand market. Its main competitor the ‘USDC’ is yet to make as significant milestones to get to Tether’s USDT recognition level.

Read Original/a>
Author: Lujan Odera

Proof Of Death: QuadrigaCX Creditors Want Former CEO Gerald Cotton Body Exhumed

The law firm that represents the users of the collapsed QuadrigaCX crypto exchange have asked the investigating authorities to confirm the death of former CEO by exhuming and conducting forensic investigations of his body, CoinDesk reports.

The law firm known as Miller Thompson sent a letter asking the Royal Canadian Mounted Police (RCMP) to exhume and carry out forensic on the body belonging to Gerald Cotten. The letter states,

“The purpose of this letter is to request, on behalf of the Affected Users, that the Royal Canadian Mounted Police (the ‘RCMP’), conduct an exhumation and post-mortem autopsy on the body of Gerald Cotten to confirm both its identity and the cause of death given the questionable circumstances surrounding Mr. Cotten’s death and the significant losses of Affected Users.”

Cotten’s death was hidden from the public for more than a month, but QuadrigaCX still accepted deposits but some customers were not allowed to withdraw their funds within that period.

Later, Cotten’s wife, Jennifer Robertson, announced his demise in QuadrigaCX website upon which it went offline. She then proceeded to file for creditor protection explaining that her husband was the only person who held the private keys for the crypto exchange’s cold wallets. She went ahead to state that Cotten was the only person who had access to the exchange’s crypto holdings.

However, the court-appointed Ernst & Young as a monitor which went ahead to conduct an investigation and revealed that QuadrigaCX wallets had zero crypto holdings. The investigation also showed that the majority of the funds had been moved to different exchanges and private wallets. It was also revealed that the CEO had already used some of the funds deposited in QuadrigaCX.

Cotten’s death raised lots of eyebrows given that his wife indicated that he died of Crohn’s disease which is not fatal. In addition, he allegedly died in India and his death certificate issued misspelled his name.

According to the CoinDesk report the law firm is requesting for the exhumation to be expedited and the entire process be completed before the end of the next Spring season due to decomposition concerns.

Read Original/a>
Author: Joseph Kibe

Binance Us Lists 19 New Cryptos For Trading Including OMG, TRX, And XTZ; Evaluating 18 Others

Binance the world’s leading crypto exchange by trading volume is known for its rapid development work on its numerous platforms, and in the past two months, it has done the same on its recently launched crypto exchange for the US customers. Binance US was launched on September 23rd to cater to the crypto trading needs of 37 states of America.

The platform released a blog detailing their development on the platform in the past two months which included the addition of 19 new tokens to the training list apart from the seven listed at the time of launch. The platform also added support for debit card transfers, increased the ACH limit to $30,000 and also provided a 25% lower trading fee for BNB holders.

The platform has seen a rapid rate of development right after its US launch where it is trying hard to capture the crypto user market currently dominated by Coinbase. The platform has many offers to attract new consumers which include a $15 new user signup bonus along with 30 days of free trading. Apart from that the platform also provides FDIC insurance coverage for USD deposits.

Binance Is Working Tirelessly to Expand its user Base Across the Globe

Binance has built an entire ecosystem to not just progress and become the global crypto exchange but also facilitate the growth of new and upcoming projects in the decentralized space. It recently acquired Indian Crypto exchange WazirX to set its foot in the grand Indian market.

On the US front where the market is currently dominated by the likes of Coinbase, Kraken, Gemini and many more, Binance is looking to list as many tokens as possible. In addition to the 19 new tokens added in the past months, the firm is also looking into another 18 tokens including the Tron’s TRX token to list on the platform. Justin Sun also tweeted about the same and hoped to be listed on the exchange.

The firm promises to provide the highest level of security to its users against fraudulent blockchain projects and combat financial crimes.

Read Original/a>
Author: Silvia A

Malaysia’s Biggest Crypto Exchange Luno Set to List Ripple’s XRP

London based crypto exchange Luno is expected to list XRP token onto its platform. The exchange aims to make the XRP tokens available to Malaysians either in December 2019 or early 2020. Luno was recently relaunched in Malaysia at the end of October this year.

Ripple (XRP), which is a real-time gross settlement system and currency exchange network known for its use in cross-border payments, has been looking to build a larger scheme around the coin and over the last few years the idea has seemed to crystallize. Luno has since noticed XRP’s potential and wants to bring the token to Malaysia. The firm’s head of Asia Vijay Ayyar cited,

“What we can say at this time is that we are planning to increase our cryptocurrency offerings as we grow, while keeping customer’s safety and compliance with regulations as our highest priority.”

He continued to say that while Luno would be widely expanding its crypto offerings, it would also be sure to maintain all ethical standards to customers. The ethical standards include ensuring customer’s data safety and complying with rules and regulations. Luno’s South-East General Manager, David Low believes that the ever-growing demand for Ripple’s XRP would be partially met by the Luno listing. Mr. Low explained,

“Ripple also has a remittance use case which we are excited about. That’s why we want to introduce it to Malaysians, as it allows people on the platform to access and learn about it, and figure out new ways to use this technology for their benefits.”

An exclusive interview with the Malaysian Reserve (TMR) revealed that the Securities Commission has already approved Ripple and that Luno will be bringing the cryptocurrency onboard the exchange sometime this December or early next year. This has allowed the company to once again step on the country’s turf. Due to forward looking regulations and high banking rates, Luno is expected to be one of the largest markets in Malaysia.

XRP was created by Ripple Labs Inc., a U.S based currency exchange founded back in 2012. After Ethereum (ETH) and Bitcoin (BTC), XRP has the third largest market capitalization of US$9.2billion.

Read Original/a>
Author: Lujan Odera

Binance Denies Rumors It’s Acquiring Bankrupt Europe-Based Union Bank AG

Crypto exchange Binance said in an official announcement that the media reports claiming it’s buying bankrupt Liechtenstein-based Union Bank AG aren’t true.

This is what Wei Zhou, Binance CFO, had to say about the news:

“The reports that Binance is investing into Liechtenstein Union Bank or has applied with the Financial Market Authority to become a shareholder of the Bank are inaccurate.”

The rumors appeared earlier today when the Swiss financial news outlet Inside Paradeplatz said Union Bank AG, Binance and Financial Market Authority (FMA) of Liechtenstein representatives have met and that Binance signed a commitment with the bank.

Letter Saying the FMA Is Likely to Accept Binance as Shareholder

The Inside Paradeplatz report also cited a letter from November 19, a letter that was addressed to Union Bank AG’s shareholders and sent by the Zurich-based commercial lawyer Wolfram Kuoni. This is what the letter reads:

“The FMA is likely to accept Binance as shareholder. However, given that (Union Bank) as of now in default of the (FMA) order regarding own funds, FMA has made it clear that Binance must file to application for approval as shareholder and pay in amount of CHF 15 million [$15.17 million] to escrow account for a later capital increase by the end of November.”

Furthermore, it also adds that if the arrangement does not remain valid, FMA will withdraw the bank’s license and force it to liquidate.

Binance is Open for a Partnership with Union Bank AG and its Investors

Zhou said Binance remains open as far as a partnership with Union Bank AG and its new investors goes since it’s committed to adding reliable and safe fiat channels so that crypto is being adopted all over the world. Only earlier this week, Beijing-based blockchain data company DappReview was acquired by Binance for a sum that wasn’t disclosed to the public.

More than this, Binance bought India-based crypto exchange WazirX last month too. In September, it got the Seychelles-based platform for derivatives JEX and turned into Binance JEX for crypto future, perpetual contracts, and options, while in July, it acquired the US-based mobile wallet firm Trust Wallet, making its first acquisition.

Read Original/a>
Author: Oana Ularu

Coinbase’s Visa Debit Card Available In UK and EU, Adds First Stablecoin Support in Maker’s DAI

The Visa debit card offered by the crypto exchange Coinbase now has Ethereum-based DAI stablecoin support.

The news was released on Friday, when Coinbase Card made the announcement that DAI is the first stablecoin to be included in its offering. The debit card was launched in April this year and it allows UK and EU customers to spend the crypto they’re holding in their Coinbase accounts.

Coinbase Card added Support for Other Crypto Assets Last Month

In November, Coinbase Card added Brave’s token (BAT), Stellar (XML), Augur (REP) and 0x (ZRX). Besides, it furthermore supports Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ether (ETH). The Coinbase UK head of marketing, JD Millwood, said in a recent commentary the offering of the debit card has managed to help many users spend crypto just as easily as they’re spending money from their traditional bank accounts, and that the Coinbase Card is going to be more in demand now that Christmas is coming.

10 More European Countries Added Last Month to Coinbase Card’s Portfolio

In November, Coinbase Card has expanded to 10 new European countries, making a total of 20 countries in which it operates. The newly added ones were Denmark, Liechtenstein, Sweden, Romania, Iceland, Norway, Bulgaria, Poland, Croatia, and Hungary.

Read Original/a>
Author: Oana Ularu

Kraken Crypto Exchange Integrates Swiss Franc (CHF) to Trade Against BTC And ETH

Kraken crypto exchange has expanded its BTC and ETH fiat trading pair options after adding the Swiss Franc (CHF) to the existing portfolio. The exchange partnered with Frick, a bank based in Liechtenstein, to launch the CHF within its platform.

The U.S headquartered digital exchange is among the earliest entrants in the market having been launched back in 2011. So far, a number of cryptocurrencies ranging from Bitcoin to tokens like XRP can be traded on the exchange against fiat currencies. Prior to the CHF integration, acceptable fiat denominations within Kraken’s network included; Japanese Yen (JPY), British Pound Sterling, Euro, Canadian dollar and the U.S dollar.

A blog post by Kraken on 5th December highlighted that the CHF trading would commence a day after the announcement. Initially, the CHF will be tradeable against Ether (ETH) and Bitcoin (BTC) but plans to add more options for the Swiss currency are under consideration.

Just recently, Kraken made a partnership move that would enable real-time deposits and withdrawals at zero fees for its U.S clientele. The firm joined Silvergate Exchange Network, a product of Silvergate Bank, which now facilitates the U.S dollar deposits and withdrawals against Kraken’s crypto options. Besides this milestone, Kraken had earlier released its mobile application to enhance the user experience for Futures trading.

Kraken enjoys a top 10 position in daily transactional volume according to stats from coin360. The platform recorded around $103 million in the course of the last 24 hours. Swiss Franc (CHF) will probably increase this liquidity and push the veteran exchange to new records in daily volumes.

Read Original/a>
Author: Lujan Odera

bitFlyer Europe Introduces “Instant Buy” Feature to Create a Simpler, Convenient and Transparent Crypto Experience

On Thursday, December 5, crypto exchange, bitFlyer announced the launch of their Instant Buy feature, the latest of their updates, on its Buy/Sell exchange platform. This feature enables users to make crypto investments using their credit or debit cards or by simply using local transfer methods.

According to the Co-Head and COO of bitFlyer Europe, Andy Bryant, this feature sets well with the organization’s goal of promoting convenience when it comes to investing in cryptocurrencies while promoting simplicity and a sense of secureness.

That said, the feature is said to resemble what users are already accustomed to in today’s society. He said:

“By making it similar to that of a traditional e-commerce experience, we are helping [to bring] cryptocurrency to a mainstream audience, while also giving experienced users a faster and simpler way to get their currency.”

Accessible on both desktops and smartphones, the feature is deemed beneficial to those looking for an all-in-one solution to purchase, store and secure their investments, getting hold of assets at predefined prices from the bitFlyer platform, and fees are said to be as transparent as they could get.

Speaking of fees, Bryant spoke with news outlet, The Block, disclosing that the transaction fees for processing credit card payments are 1.95% + €0.25/ transaction and for else methods, 1.95% + €0.30.

Besides Europe getting access to the Instant Buy feature, bitFlyer Japan recently added trading support for the XRP token because it stands as the second-largest cryptocurrency in Japan.

Read Original/a>
Author: Nirmala Velupillai

Blockchain Supply Tracking Platform WaltonChain (WTC) Announces Current CEO Stepping Down

  • Former CEO Mo Bing will continue to offer consulting services to WaltonChain.
  • WaltonChain’s crypto asset – WTC – is one of the few to survive since the ICO boom two years ago.

WaltonChain is known for its work as a supply chain tracking platform, which utilizes blockchain technology for its organization. Now, according to an official announcement from the company, the leadership is changing, as Mo Bing steps down as the CEO and Do Sang Hyuk steps up. The new CEO will bring in his business experience in South Korea to the role.

Bing still will be offering consulting services to WaltonChain but will no longer hold any power as the CEO. Do Sang Hyuk has already been gently involved in WaltonChain, spreading information about the company through South Korea. During his career, he’s been responsible for establishing the Korea Blockchain Institute, a non-profit organization that strives to explore the potential of blockchain tech.

The announcement stated, “Mr. Do Sang Hyuk has been making a great contribution to the development of WaltonChain over the past years. We believe that, as an ecosystem and a team, WaltonChain will have an excellent future under the leadership of Mr. Do Sang Hyuk.”

Though WaltonChain’s project has been rather elusive among other platforms, it has been working to create Internet of Things systems that are supported with blockchain. The asset of this project – WTC – was created during the 2017 ICO boom as an ERC-20 token before the mainnet launched within a year. Though the price of WTC was $0.50 during the boom, it has only fallen by a single cent since the sale.

The price of WTC reached a peak with the massive crypto rally at the end of 2017 at $38.02, but much of its value has been lost since. The price of WTC also took a hit after a giveaway that they hosted, when the platform selected a winner that is employed with WaltonChain itself.

At one time, WaltonChain held major space in the social media sector, even stating that it was seeking to compete with the likes of Ethereum. As it worked to create its own tracking ventures, the use case for the platform started to look more like VeChain. Still, the improvements in the blockchain tech space have made WaltonChain ambitious over how they could make progress in China. The platform was a part of the China Blockchain Technology and Industrial Development Forum in Shenzhen, where it helped with the creation of new standards for the fintech.

WaltonChain is working on hardware options that allow for the processing and distribution of data via blockchain, connecting it with the crypto asset economy, as Bitcoinist reports. While WTC is starting to enter another bearish trend, the fact that is one of the few ICOs of 2017 to still survive shows its perseverance.

Read Original/a>
Author: Krystle M

CR7’s Club Juventus Football Club Debuts Its Crypto-Based Token for Its Fans

As the Crypto industry continues to expand, the sporting industry has found its way into the crypto space. Football clubs are launching their blockchain-based fan-based tokens as a way of interacting with their fans all over the world. Socios.com, a token-powered platform fan voting in sports, has partnered with several football clubs to develop club branded token for their fans.

The tokens are then made available to the fans through Socios.com App at different prices. Among clubs venturing into tokenized fanbase in partnership with Socios.com include Paris Saint Germain (PSG), Atlético de Madrid, and Juventus, which recently launched its crypto-powered token $JUV through Socios.com.

Juventus Football Club’s token will allow fans to vote on some of the club’s decisions. This way, Juventus can accumulate a voting power of up to 400 million fans globally. $JUV is available through Socios.com App for €2 currently or $2.2.

Cristiano Ronaldo’s club, Juventus, is planning to use its tokenized fanbase platform to vote on the song to be played at Allianz Stadium every time the team scores a goal. The club wants to replace their current song, Alexandre Dreyfus, and the newly voted song will be played from next year.

“We happy and proud of being the first club to launch a club-branded token through the Socios.com platform. This will be a new way of interactions with our fans globally, “noted Giorgio Ricci, the revenue chief officer of Juventus.

Socios is also planning to launch trading pairs $PSG/CHZ and $JUV/CHZ, among others, during Q1 of 2020, allowing football fans to trade the tokens. $CHZ is Socios’ token, Chiliz, and has already been listed on Binance cryptocurrency exchange for $0.0011 each piece.

Other clubs are also planning on joining the platform to tokenize their fanbase. According to The Block, Socios.com has six similar deals to be executed by the first quarter of 2020. A.S Roma, Galatasaray, and West Ham United are lined up for February 2020, while Atletico de Madrid and PSG will be launching their token towards the end of January 2020.

Read Original/a>
Author: Denis Miriti