Cryptocurrency Analysis and News Portal
A former campaign adviser to United States President Donald Trump is planning to release a stablecoin based on a fractional reserve.As Fortune reported on Oct. 21, Stephen Moore announced plans to launch a stablecoin dubbed Frax, which will be backed by a fractional reserve of U.S. dollars.As such, the
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A group of crypto and precious metal companies formed a consortium and launched a first-ever Gold-backed digital currency with the ticker DGLD on the Bitcoin blockchain.Europe’s largest crypto assets manager CoinShares, with the leading provider of cryptocurrency products including the world’s most popular crypto wallet, Blockchain Luxembourg S.A., and the
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Global financial services company Circle announced that Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments.Part of a broader government initiative to embrace stablecoinsAccording to a press release shared with CryptoX on Oct. 16, this development is part of a broader initiative, which
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Lucas Geiger, co-founder of blockchain infrastructure startup Wireline, has announced OpenLibra — a permissionless fork of Facebook’s planned stablecoin.Ethereum developer Lane Rettig tweeted on Oct. 8 that OpenLibra was announced by Geiger at the Ethereum developer conference Devcon 5, adding:“Seeing #openlibra publicly announced for the first time is sending
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The Global Currency Organization (GCO) announced earlier this month that a US Dollar backed stablecoin, USD Digital (USDD), will be released soon. The US Dollars that back the digital currency are mainly stored in deposit-insurance accounts.The Global Currency Organization was started by former employees of TrustToken, Intel and JPMorgan. Since
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The world’s most widely used cryptocurrency is Tether (USDT) and not Bitcoin (BTC), this according to a BNN Bloomberg report published October 1, 2019. Citing data from the cryptocurrency analytics website CoinMarketCap.com, the report claims that USDT is the highest weekly and monthly traded digital currency. USDT Trumps BTC Whilst Bitcoin continues
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The Global Currency Organization (GCO) is launching a new U.S. dollar-backed stablecoin, dubbed the USD Digital (USDD).In an Oct. 1 press release shared with CryptoX, the GCO announced the launch of the USDD, a new stablecoin pegged to the U.S. dollar. The organization, which is a new project led
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The recent Ether (ETH) price drop showed the reliability and weaknesses of the decentralized stablecoin built by MakerDAO, Dai (DAI), and the decentralized finance (DeFi) ecosystem built on top of it.A decentralized stablecoinEthereum-collateralized decentralized stablecoin DAI managed to maintain its peg to the United States dollar as Ether lost
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The Appellate Division of the New York Supreme Court said that Bitfinex won’t have to continue turning the documents of its Tether use to the New York Attorney General’s office (OAG), for now.Its a big win for cryptocurrency exchange Bitfinex on the long going Tether stablecoin case as the Appellate
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One of America’s biggest banking companies, Wells Fargo, announced on Tuesday that it plans to enter the crypto world after all. Like JPMorgan, Wells Fargo is looking to create its own native digital coin that would function just like any other digital asset out there.Only in this case, the financial
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