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The Distributed Exchange IDEX has developed a new off-chain protocol that allows processing Ethereum transactions 1,000 times faster. It is an evolution of a similar protocol already developed by the Ethereum Plasma team, but in this case, block finality is reached in 10 minutes rather than two weeks. That would allow for processing a vast amount of transactions in a short time.
Central bankers are afraid of Libra and would like it to be controlled by the IMF (International Monetary Fund), which is the central bank of central banks. Some argue that countries should issue their own “official” cryptocurrency as Venezuela did with the Petro. Whatever the plan, they fear to lose their control, which would be shifted over to mega-corporations. Tether is fighting back against the accusation of having manipulated the crypto market in 2017, causing the first bubble to burst. They respond to accusations from two US university professors who just updated a paper accusing Tether of doing just that.
First Time Bitcoin Payment Users Double. 2 Million ETH Locked In DeFi. Microsoft To Work With Ethereum.CryptoEnsemble Crypto Reports
Square users that use Bitcoin for payments have doubled in Q3. The company invested $146 million in Bitcoin during this period, with $2 million profit on Bitcoin sales. The key factor has been the Cash App, which facilitates the use of Bitcoin for users who are un-experienced. Despite the low-profit margin on BTC sales, more and more users are apparently finding their way to the Square’s Cash App as a means to invest in Bitcoin. Decentralized Finance applications reach an all-time high of 2.417 million ETH and 1,400 BTC. Microsoft Azure Blockchain Tokens operates via the Ethereum blockchain.
China Allows Bitcoin Mining Again. Values Expected To Rise. New World Report On Payments In Crypto By Ripple.CryptoEnsemble Crypto Reports
China is rolling back its ban against Bitcoin mining. Most of mining is already happening in China, so its full legalization could spur more activity and a further increase in Bitcoin’s value. Ripple just published the results of a worldwide survey on crypto-payments. It is the second annual report of this character, and it focuses on retail bankers, digital bankers, payment aggregators, and money transmitters. 1,053 people from 21 countries have been interviewed. More than a third say they are already implementing blockchain. 97% are either implementing or evaluating this new technology.
Bitcoin is definitely becoming a popular tool. Argentinian citizens are purchasing as much as they can to prevent the consequences of an imminent state-wide financial disaster. Local values have risen to the equivalent of & 12,160 for one Bitcoin. The new Peronist Argentinian administration is expected to negotiate a deal with the International Monetary Fund. The country’s debt level has become unsustainable. Illinois State lottery winner invests half of the money he won in Bitcoin, hoping for the best.
While a mega class-action suit has just been filed against Bitfinex and Tether for market manipulation, two US university professors claim that the 2017 market manipulation was controlled by just one mega investor. Tether is the most popular stablecoin used in exchanges as part of Bitcoin (BTC) trading. The issuing company is connected to the US crypto exchange Bitfinex. The lawsuit claims that the mass issuance of Tether during the 2017-2018 bull market created the largest financial bubble in human history. The case is based upon the same academic study, which has just been revised and was originally published in June 2018. The authors John M. Griffin, of the University of Texas at Austin, and Amin Shams, of the Ohio State University, Fisher College of Business, have been criticized by several crypto opinion leaders Experts claim that the study is flawed, and the two professors don’t understand the basics of how Tether issuance works.
China’s official adoption of blockchain technology, as well as its push to accumulate gold to back its digital currency, is accelerating crypto acceptance.
China’s official adoption of blockchain technology, as well as its push to accumulate gold to back its digital currency, is accelerating crypto acceptance. Ripple Founder Chris Larsen says that China’s recent endorsement of blockchain is putting pressure on US regulators to take action.
China has amassed vast amounts of gold for some time. It is getting ready to launch its cryptocurrency backed by gold. In this way, they would break free of the dollar as an international currency and therefore avoid sanctions. This is the opinion of Max Keiser, who reports of news gotten from sources in Europe and Asia.
The outflow of capital from Argentina has increased significantly after president Mauricio Macri was removed from office a few days ago. The Central Bank of Argentina is restricting individual purchases of Bitcoin and US dollars. People are only allowed to purchase $ 200 per month and $ 100 in cash per month. The situation has ignited the sell-off of the peso, plus Argentina bonds and equities.
Hot action for Bitcoin, which is demonstrating its use case in Lebanon where banks have now been closed for a week. The Lebanon government provoked a protest when it announced the intention to tax WhatsApp calls. As a response to such protests, it has shut down all banks. At the same time, China’s President Xi has announced formal support for blockchain technology. Therefore China is ready to march full speed ahead on crypto. These events, combined with the huge success of Bitcoin futures has dramatically raised the value of BTC after weeks of pessimism.
Xi Jinping, general secretary of the Communist Party of China, just stated that he believes blockchain technology will be valuable in new technological innovation and industrial transformation. He wants China to take the leading position by increasing the investments in blockchain development and clarifying the direction. The news that China is moving full steam ahead has immediately lifted the value of Bitcoin and several other cryptocurrencies.
After the Security Exchange Commission has blocked at the last minute Gram’s launch scheduled for October 31st, the investors of the Telegram Open Network vote to postpone it to April 2020. It will give time to the company to counter the SEC’s legal argument, and also collect additional funding for further implementing TON. Coinbase, the biggest US crypto-exchange, has charged $ 2 billion in trading fees since 2012.
Crypto-trading is alive and well in the US market. Binance, the biggest crypto-exchange in the world, has just reached $ 10 million daily volume for its US branch, which started at the end of September. At the same time, in September, Bakkt launched the first Bitcoin futures exchange. It has just hit an all-time high with 441 contracts for the month of November. Both events show sustained growth of crypto-trading in the US despite a confusing regulatory environment.
Banks Could Cut Financing To Facebook Over Libra. Tether Doubled Market Cap Since Beginning Of Year.CryptoEnsemble Crypto Reports
Libra is pivoting on its original plan. Now it may be pegged to different fiat currencies in every country. The project is still moving forward, and banks might cut funding to Facebook altogether. Tether is gaining a lot of traction in China and has doubled its market value since the beginning of the year. In China, it is has replaced the Yuan, and they used it as though it were almost a fiat currency.