Bitfinex Repays Tether $100 Million of $700 Million Loan - 0 views
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Bitfinex borrowed as much as $700 million from the stablecoin issuer through a line of credit in early 2019. The exchange needed the cash to make up for an $850 million hole which resulted from its payment processor, Crypto Capital, having its funds seized by authorities in three separate nations. On Tuesday, the exchange said it had transferred $100 million from its account to Tether's.
Why Facebook's Libra currency gets the thumbs down | Joseph Stiglitz - 0 views
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The real problem with our existing currencies and financial arrangements, which serve as a means of payment as well as a store of value, is the lack of competition among, and regulation of, the companies that control transactions. As a result, consumers - especially in the US - pay a multiple of what payments should cost, lining the pockets of Visa, Mastercard,
Congressional Committee Calls For A "Moratorium" On Facebook's Libra Project - 0 views
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The backlash against Facebook's Libra project has begun. The House of Representatives' Committee on Financial Services has written to Mark Zuckerberg, Sheryl Sandberg, and the chief executive of Calibra, David Marcus, asking for a moratorium on the development of both Libra Coin itself and Facebook's bespoke wallet, Calibra.
Bitcoin Rally Fuels Market in Crypto Derivatives - 0 views
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In recent months, some cryptocurrency firms have begun touting structured products linked to the price of bitcoin, with complex formulas determining how much they pay out. It is still a small market, and the firms say their products aren't aimed at mom-and-pop investors. But the trend is raising red flags among some market veterans.
The Anatomy Of A Fake Cryptocurrency Trade: How Exchanges Create Phony Transactions - 0 views
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Compared with Bitwise, which released a follow-up fake volume report in May 2019, Alameda thinks more crypto volume is real. For large exchanges like OKEx and Huobi, which were founded in China, Alameda estimates about 70% of their transactions are authentic. Bitwise is much more skeptical, as is the Blockchain Transparency Institute, which has estimated that more than 60% of Huobi's volume is fake and more than 90% of OKEx's volume is fabricated.
Blockchain Solution for FATF 'Travel Rule' to Keep User Data Private - 0 views
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CipherTrace and Shyft have launched a blockchain-based identity and attestation platform aimed to help crypto firms meet the new FATF "travel rule" while still maintaining user privacy. The firms will build KYC and AML ecosystem in which participating exchanges can securely transfer Proof of Knowledge without disclosing personally identifying information.
June Sets Records for CME Bitcoin Futures as Sign-Ups Surge 30% - 0 views
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In June, CME bitcoin futures set a new record for open interest amid a surge of new account sign-ups. More than 2,960 accounts have traded their bitcoin futures since launch, and more than 950 new accounts have created in 2019. In addition, the there are now 49 entities that hold contracts worth at least 25 BTC.
Libra, 2 weeks in | David Marcus - 0 views
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Facebook's blockchain head, David Marcus, wrote a blog post trying to clear up some common questions about Libra. Among the points: Facebook won't control the currency, and it's meant primarily to help unbanked and underbanked people participate in the financial system. If Facebook benefits, it will be because people find it easier to transfer money using Facebook products.
IBM Launches Blockchain Pilot for Bank Guarantee Processes - 0 views
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IBM, in partnership with four Australian financial services companies, has launched an eight-week pilot for a blockchain-powered platform designed to streamline bank guarantee process. Lygon is a blockchain-based platform that digitizes the issuance and management of bank guarantees in the retail property lease sector. Per the release, digitizing the process will reduce the risk of fraud, decrease potential of errors, as well as increase transparency and security.
IBM Launches Blockchain Pilot for Bank Guarantee Processes - 0 views
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IBM, in partnership with four Australian financial services companies, has launched an eight-week pilot for a blockchain-powered platform designed to streamline bank guarantee process. Lygon is a blockchain-based platform that digitizes the issuance and management of bank guarantees in the retail property lease sector. Per the release, digitizing the process will reduce the risk of fraud, decrease potential of errors, as well as increase transparency and security.
Libra's Unresolved Puzzles - 0 views
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Exactly what kind of money will Libra be? The white papers under-specify the core mechanism that is supposed to control the value and quantity of Libra. Is the Libra Reserve really like a currency board? Or is Libra meant to be like a mutual funds share, redeemable (by authorized resellers, not by the public directly) at the net asset value of a low-risk mutual fund diversified across several fiat currencies?
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