Author: Anna Galvez

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Crypto News

Ripple Is Inspired By The World Cup 2018 And Wants To Win The Global Payments Tournament

Several months back, Ripple published a fresh article on the Ripple website discussing the resemblances between the financial breakthroughs and the accomplishments of the World Cup 2018 teams that made it to this year’s tournament. Notwithstanding this, the story remains accurate today, so precise that, in fact, Ripple retweeted it.

What does Ripple have in common with the World Cup 2018 teams?

Ripple feels that the spirit of innovation that lies beyond the World Cup 2018 and the teams which are successful within the FIFA’s most loved competition is one that has to be nurtured in the world of finance. Ripple, by all means, considers that it is up to them to deliver that innovation into the world of finance. To explain what they mean, they made a comparison between the Netherlands and Italy soccer team.

Italy is quadruple world champion, while the Netherlands, although they have never won the World Cup, is regarded as a top international team. However, both teams have failed to make it to the World Cup 2018 tournament because of their reliance on older, more settled players and playing patterns.

Ripple argues that the readiness and desire to embrace innovation has been a decisive factor for the qualification of the other teams and their success this year.

Ripple praised with its partners like Santander and AMEX

Regarding its partners like Santander and AMEX (American Express), Ripple thinks these service suppliers are transforming Ripple blockchain technologies into a vital asset. Furthermore, they consider that anyone who lags far behind in adopting the innovation is in danger of being entirely left out of the competition, in the same manner as the Netherlands and Italy didn’t make it to the World Cup 2018.

With this World Cup 2018 comparison, Ripple practically announced that it is ready to adopt the winning World Cup mentality, teetering between readiness and innovation to lead the financial services sector into the future when every remittance company will adopt blockchain technology, as an integral component of their businesses, and not as a test.

Of course, Ripple talks about its own blockchain technologies, xRapid, xVia, xCurrent, considering them the best for bringing the financial sectors to the next level.

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Crypto News

Tether (USDT) Backed By US Dollars Reserves, A New Report Reveals

According to Ethereum World News, a report carried out by Freeh Sporkin & Sullivan LLP (FSS) states that Tether (USDT) is adequately backed by real USD reserves. The FSS audit report is the result of an examination of the USDT balance carried out on a random date and a comprehensive review of the pertinent details of Tether Ltd’s bank accounts.

FSS confirmed that Tether (USDT) is backed by US Dollar reserves

Freeh Sporkin & Sullivan LLP (FSS) is a law firm based in Washington, DC. The firm was given complete access to all the banking details and documentation for their audit report on Tether (USDT) and Tether Ltd.

Accordingly, on June 1st, the FSS reported that Tether’s bank accounts totaled $2,545,067,236.82. At the same date, the number of USDT on the market was $2,538,090,823.52. The survey then said that Tether’s total assets were more than the fully-backed USDT in circulation.

Despite speculation, we have consistently stated that Tether is backed by USD reserves at or above the outstanding Tether at any given time, and we are pleased to have independent verification of this to answer some of the questions raised by the public.

Jan Ludovicus van der Velde, CEO of Tether Ltd.

The report that confirms that Tether (USDT) is indeed backed by US Dollars reserves is excellent news for Tether Ltd.

This is excellent news from Tether Ltd, as every digital asset has been subject to considerable controversy recently due to recent investigations carried out by members of the finance department at the University of Texas (Austin), and who postulated that Tether (USDT) would have been employed to prop up the price of Bitcoin (BTC) through BTC downturn periods.

Now, the Freeh Sporkin & Sullivan LLP (FSS) report only solves out a part of the issues surrounding Tether Ltd and its Tether (USDT) cryptocurrency. Namely, the report confirms that Tether (USDT) is backed by US Dollar reserves.

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Crypto News

John McAfee, A “Friend” Of Cryptocurrencies, Gave Up Promotin ICOs, Forced By The SEC

The influential businessman John McAfee announced today that he would no longer promote Initial Currency Offers (ICOs) due to “threats” from the US Securities and Exchange Commission (SEC), and said he is working on an alternative model for this type of financing round that would be protected against restrictive regulations.

The announcement was made in response to a previous comment requesting investment advice, which in turn was a response to the reasons McAfee initially offered for blocking more than 800 people in the last 72 hours on his Twitter account, saying that “bad treatment will not be tolerated on my account and there will be no warnings. If someone wants to be blocked instantly, please be rude.”

The SEC has imposed strong regulations against ICOs and has consistently warned for years about the various types of cryptocurrency scams. They went so far that they even created fake ICO to show how fraudulent schemes of this kind affect investors.

John McAfee gave up promoting ICOs, while the US Securities and Exchange Commission (SEC) raised controversial opinions with its last statements

John McAfee has been an influential thinker on investment in Bitcoin (BTC) and various altcoins that have been promoted in the midst of its fundraising campaigns. Also, some of McAfee’s comments may have led to price changes in certain blockchain assets.

Meanwhile, the US Securities and Exchange Commission (SEC) has also set the standard for the cryptocurrencies market, because the regulations imposed have served as a filter for projects that do not meet operational, financial, and security standards. In this way, the markets have responded to these strategies, since the sustainability of those projects that seek to develop and enter the global cryptomarket has depended on them.

Some of the analyses of the recent SEC decision not to consider Ethereum (ETH) as security argue that investor protection is not a determinant in prohibiting the marketing of an asset. Others argue that laws to regulate ICOs should be retroactive.

Meanwhile, the cryptocurrencies market has recovered in recent days, as it seems that Bitcoin (BTC) is the network that is leading the growth of the entire market, while it has been proven that the altcoins are behind it regarding price behavior.

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Crypto News

Particl Teamed Up With Changelly Cryptocurrency Exchange To Enhance The Particl Marketplace

Particl, an open source project that develops decentralized applications focused on privacy, has partnered with the Changelly cryptocurrency exchange to enable more users and more tokens to shop privately in the Particl Marketplace.

Both Changelly and Particl have been working on strategies for cryptocurrency users to spend and win coins on decentralized platforms, and Consensus 2018 provided a perfect place for both teams to discuss e-commerce check-out solutions, online shopping with cryptocurrency, and to open the doors for more users from around the world to shop privately using cryptos.

Changelly is pleased to have Particl as a partner. By working together, we can implement an all-in-one approach to the interaction between the cryptocurrencies and provide the smoothest possible user experience.

Konstantin Gladych, CEO and co-founder of Changelly

 

Particl open source privacy platform teamed up with Changelly cryptocurrency exchange to enhance Particl Marketplace experience

Particl Marketplace is currently live on the Test Network with the native privacy currency, Particl (PART), being the only crypto-market where suppliers can accept, and buyers can spend. One of Particl’s core values is to build privacy-focused Dapps that offer the ability for any cryptocurrency holder to spend their favorite currencies, including Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH), among others.

Changelly cryptocurrency exchange has developed an instant exchange API, such as Coinomi, that leverages partners within its products, allowing users to exchange cryptos without using external exchanges. Changelly acts as a mediator between Binance, Bittrex, and other partners to offer new exchange options to Particl.

Together, Particl and Changelly will improve the payments process within Particl Marketplace to make it easier for cryptocurrency holders to shop online privately. This partnership offers instant access to over 100 Changelly-traded cryptocurrencies and tokens to all products sold on Particl Marketplace. Cryptocurrency exchange for Particl (PART) will seamlessly take place in the background and add an additional level of privacy through Particl’s Confidential Transactions.

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Crypto News

Bithumb Cryptocurrency Exchange Was Hacked – Hackers Have Stolen $31 Million In Cryptos

The South Korean Bithumb cryptocurrency exchange platform, one of the most important in the cryptocurrencies market, suffered a hack on its platform on June 19th, through which about $31 million in cryptocurrency was stolen.

The information was provided by the company through its Twitter account, where it announced to the public that due to hacking, all deposit and withdrawal services were suspended to ensure security, adding that the stolen cryptocurrency would be covered by the cryptocurrency exchange platform and the assets transferred to a cold wallet on an offline platform.

Hours after the announcement the next tweet was deleted, for no apparent reason, and they only mentioned not to deposit on their platform while they do security checks and also alerted users of the platform to the change their passwords.

It should be noted that as soon as the hacking announcement was made, the cryptocurrencies market suffered a depreciation, with Bitcoin (BTC) falling over $200 within a few minutes.

Bithumb becomes the second South Korean cryptocurrency exchange platform to be hacked within about two weeks

Bithumb is one of the most important cryptocurrency exchange platforms in South Korea, with the second largest volume in the market.

Among the Bitcoin (BTC) exchange operators in the world, it is ranked 21st, with a daily volume of about $40,500,000 in BTC exchanges and totaling $381,000,000 in other cryptocurrencies exchanges.

Bithumb launched in 2013, and the South Korean media reports that by the end of 2017 the cryptocurrency exchange platforms had reserves of about 6.918 billion dollars.

With this cyber attack, Bithumb cryptocurrency exchange platform becomes the second South Korean crypto coin dealer to fall victim to a hack in less than two weeks. On June 10th, another cryptocurrency exchange platform in that country, Coinrail, also suffered a hacking operation where 30% of its funds were stolen, a fact that is currently under investigation by the Korean Internet and Security Agency (KISA).

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