Facebook allegedly raising as much as $1 billion for its cryptocurrency stablecoin

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Facebook is looking for VC firms to invest in its cryptocurrency project for sums as large as $1 billion, according to NY Times reporter Nathaniel Popper. The company is allegedly designing its crypto as a stablecoin for WhatsApp using a basket of foreign currencies as collateral. Since 2018 Facebook has been covertly working on a cryptocurrency…

Tether’s Lack of Fiat Backing Could be Catastrophic for Bitcoin, Analyzing USDT’s Troubling Terms of Service

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Tether, the market-leading stablecoin in both market capitalization and controversy, made changes to its legal terms of service that indicate that USDT is not fully backed one-to-one by US dollar reserves. Instead, the new terms suggest that USDT is backed by other assets including loans made to third parties, calling into question the soundness of…

JP Morgan’s Stablecoin: A Feat of Engineering or Marketing?

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Upon first examination, JPM coin is an exciting Wall Street development, but the reality is more complicated, writes Kadena’s Ben Jessel.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns

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Over the last few days, cryptocurrency markets have been holding steady and consolidating after the correction on Feb. 24. Currently, the entire market capitalization is hovering around $129 billion and trade volume has started to diminish slightly with $24.9 billion traded over the last 24 hours. The top contenders capturing most of today’s daily gains…

Stably’s StableUSD (USDS) Scheduled for Listing on Binance Feb. 6th

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The Pacific Northwest’s StableUSD is scheduled for listing on Binance on Feb. 5th. Stably’s USDS is a cryptocurrency that aims to introduce additional transparency and reliability into a fiat-backed stablecoin. Binance announced that it will list StableUSD (USDS) on Feb. 5th, 2019 at 19:00 PST, Feb. 6th 03:00 UTC, for BTC to USDS and BNB…

The Daily: Crypto Wallet Raises $15 Million, Localbitcoins Suffers Vulnerability

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In today’s edition of The Daily we feature another recent example of venture capital infusion into the cryptocurrency space as Japan’s SBI invests in the BRD wallet. We also cover a recent security vulnerability that was detected on the P2P exchange Localbitcoins, and a new AML/KYC compliance solution for stablecoins. Also Read: Galaxy Digital Is…

The Struggles and Successes of Introducing Crypto to the Unbanked: A Social Experiment in Colombia

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How cryptocurrency can help the unbanked has been a hot topic over the past 12 months. It is a laudable goal, but one that it is by no means easy to accomplish. One tech enthusiast and stablecoin startup employee, Steven Gilbert, experienced the struggles – and successes – of attempting to do so when he…