Bank of America Seeks to Patent Crypto Wallet That Works Like Valet Car Key – via Coindesk
Bank of America is seeking to patent a “partitioned” security system for digital currency wallets that gives different users different levels of access to the stored funds. The second-largest U.S. bank, based in Charlotte, N.C., filed an application entitled “Multi-Tiered Digital Wallet Security” with the United States Patent and Trademark Office (USPTO) in February 2018. The USPTO published the application last week and lists Manu Kurian, senior tech manager at the bank, as the inventor.
Bank of America Seeks to Patent Crypto Wallet That Works Like Valet Car Key – via Coindesk
New Binance Project Will Create Independent Regional Versions of Facebook’s Libra Cryptocurrency – via beincrypto
Binance, the world’s largest cryptocurrency exchange by trading volume, announced Monday that it is working on a new project that could potentially reshape the world’s financial order using the power of blockchain technology.
No Demand for “Highly Speculative” Altcoins: Analyst – via NEWSBTC
Thousands of spinoffs of the world’s leading cryptocurrency Bitcoin are expanding into the void, according to market analyst Josh Rager. The Bloockroots.com co-founder on Sunday said the demand for “highly speculative” alternative cryptocurrencies, or altcoins, is falling. The analyst noted that institutional investors now look at bitcoin, the first cryptocurrency, as their preferred choice of investment. At the same time, altcoins receive attention typically from highly-active traders within the entire cryptocurrency market.
BitGo Hires Sales Chief from Crypto Custody Rival Xapo – via Coindesk
Cryptocurrency custodian BitGo has announced the addition of Xapo‘s Pete Najarian to its executive team. Joining as the chief revenue officer, Najarian is tasked with global sales strategy. Najarian was senior vice president of institutions at bitcoin service provider Xapo before joining BitGo. Coinbase Custody announced its acquisition of Xapo’s institutional business last week.
Black Manta Capital Partners receives BaFin licence for security tokenization – via AMBCRYPTO
Black Manta Capital Partners (BMCP) announced the successful reception of the BaFin licence. As a result of the licence, the company will be able to “provide regulated financial brokerage services using blockchain technology in accordance with the MiFID II regime.” Based on the original press release, “With so-called Security Tokenization, BMCP converts rights to an asset into a digital token, creating intelligent investment contracts on a blockchain.”
Binance Launches New Open Blockchain Project Called “Venus” – via UsetheBitcoin
The cryptocurrency exchange Binance announced a new plan to launch a new open blockchain project called “Venus.” This new initiative aims at developing localized stablecoins and digital assets pegged to different fiat currencies around the world. The information was released in a blog post a few hours ago by Binance.
‘Youngest Bitcoin Millionaire’ Willing to Stake it All on Metal Pay – via Coindesk
Metallicus, the startup behind the peer-to-peer payments platform Metal Pay, received an undisclosed angel investment from the youngest bitcoin millionaire, Erik Finman. In partnership with Metal Pay CEO Marshall Hayner, the two look to develop the first “all-in-one” cryptocurrency banking platform, which includes a 17 digital asset exchange, a digital bank and a payments application with social features similar to Venmo. Founded in September, Metal Pay has processed approximately $11 million in total payments from nearly 130,000 registered users across 38 states. On a monthly basis, the company processes $1 million in crypto or fiat for around 30,000 active users, according to Hayner.
Japanese E-Commerce Behemoth Rakuten Finally Launches Cryptocurrency Exchange – via beincrypto
The Japanese e-commerce giant Rakuten has just announced the launch of its mobile virtual currency exchange — Rakuten Wallet. The launch comes two months later than initially projected, with the wallet first expected to roll out to Android users, before being released on iOS “at a later date,” though there are plans to announce the release date of the iOS version in September.
Hubii Launches Nahmii IEO On Japan-Based Liquid Exchange – via Cryptodaily
Nahmii, a second-layer Ethereum scaling solution developed by hubii AS, will be launching its initial exchange offering soon on Japanese exchange Liquid. Promising to solve Ethereum’s scaling problem, nahmii is aiming to make Ethereum a commercially-viable blockchain. Ethereum is the world’s second biggest blockchain, but it has a problem: transaction speeds of only 15-20 transactions per second mean it is entirely unsuited for large-scale, or even small-scale, commercial operations.
Bitcoin worth over $14 million transferred from Coinbase to unknown wallet in different transactions – via AMBCRYPTO
With the recent spike in Bitcoin, whales came out of from slumber to trade. Whale Alert, one of the leading crypto transaction trackers, shared the news of the transfer of BTC on Twitter, “500 #BTC [5,354,800 USD] transferred from #Coinbase to unknown wallet.”
Pundi X NEM to Be Paired with BNB on Binance DEX after Getting 3.5K Votes from Community – via U.TODAY
On Monday, August 19, the official PundiX account on Twitter spread the word that the subsidiary of the world’s biggest digital trading venue Binance, its recently launched Binance DEX, plans to expand its trading list by adding the NPXSXEM/BNB pair.
Litecoin May Soon Surge Despite Selling Pressure and Recent Dusting Attack – via NEWSBTC
Litecoin has been wrapped in negative sentiment as of late, which has primarily been rooted it its lackluster price action following its recent halving event and a recent dusting attack that impacted nearly 300,000 LTC addresses on Binance. Despite the dwindling optimism surrounding LTC, analysts are now cautiously noting that the cryptocurrency may be nearing a “bedrock support” level that could be followed by a shift in its recent downtrend, and today’s price performance may support this notion.
Why Blockchain technology is important for Data Privacy – via Bitcoinist
Centralized companies leaking data has become somewhat commonplace in recent years, and that is only slated to only get worse. With more and more of our lives online, we need systems in place to protect our digital information. Using blockchain technology, our data could be much, much safer.
Bitcoin as a Safe Haven: Yet Another Recession Indicator Flashes – via NEWSBTC
For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun to be classified as a “safe haven” asset, may stand to benefit from such a move in traditional financial markets. Over the past few months, the world’s analysts and investors have begun to fear a recession. While some are as optimistic as ever, calling for new highs to be established for the S&P 500, more and more data is hinting at an impending drawdown in traditional finance. Bitcoin, as aforementioned, might be the beneficiary of such a move.
Litecoin Foundation Funds are Drying Up Fast, Charlie Lee Says No Need to Panic – via beincrypto
Is the Litecoin Foundation undergoing a financial crisis? Well, that might very well be the case as the non-profit tasked with overseeing the fifth-largest cryptocurrency in the world was reportedly left with only $96k in its reserves by the end of Q1 2019.
Bitcoin May Be Laying the Groundwork for a Trend Reversal – via NEWSBTC
Following Bitcoin’s recent plunge into the mid-$9,000 region, the cryptocurrency has been able to post a strong and sustainable bounce that has allowed it to secure a foothold within the mid-$10,000 region. Now, analysts are noting that BTC may be laying the groundwork for a reversal of its recent downtrend, which means how it reacts to its next key levels of resistance is critical.
Rejecting Libra: A Postscript On The Importance Of Decentralization – via Cryptobriefing
Following our open letter to non-crypto friends, the crucial topic of decentralization demanded further elaboration. Why is it at the heart of so many discussions in cryptocurrency? And why has the crypto community reacted to Facebook’s Libra project with a mixture of amusement, hope for mainstream acceptance, and naked hostility?
OKEx blog explains why more crypto-traders are looking into sharpe ratios – via AMBCRYPTO
When you are dealing with cryptocurrencies and its financial ecosystem, one has to be calculative and consider volatility and major price swings as an important factor before making any investments. Sharpe Ratio, a measurement tool which is regularly used in the traditional financial markets, allows traders and investors to assess the return on investment in comparison to the risk involved.
XRP Ecosystem Enthusiastic About Xpring Becoming A Developer Platform – via UsetheBitcoin
Ethan Beard, the senior vice president of Ripple’s Xpring, talked about how they are working in order to develop and expand the XRP ecosystem. On the last episode of The Ripple Drop, he unveiled many of the details about which are their plans to help companies and projects embrace XRP.
As Social Network ‘Gab’ Looks to Decentralize, It Rapidly Expands – via beincrypto
Gab, a social network that prides itself on “free speech,” has become a hotbed for far right-wing radicalism. Despite the controversy, however, the recently-decentralized platform has thrived. Gab first entered the public discourse around 2018 when 11 individuals were killed inside the Tree of Life synagogue in Pittsburg. The small social media site was instantly flooded with anti-Semitic comments and was even briefly ‘shut down’ after the shooter was confirmed to have frequented the site.
Why Bitcoin’s Energy Consumption Is Actually Good For Long-term Global Economic Stability? – via Coingape
According to a recent blog post by Unchained Capital, a financial company which offers cash loans to long-term cryptocurrency holders, the long-term necessity and importance of bitcoin’s energy consumption outweighs its controversial climatic influences and environmental disruption. According to the insightful conclusions, bitcoin’s “wasteful” energy consumption is a more rational alternative in building a better more stable global economy compared to the present financial framework which relies on limited, prone to errors, unreliable human handling bringing the financial systems to a bitter end.
Bitcoin Dominance at Critical Juncture: Are Altcoins Going ‘to Hades?’ – via beincrypto
According to one popular cryptocurrency analyst, Bitcoin lies at an important point in its return to indisputable dominance of the entire digital asset market. He argues that a continued rise versus the rest of the market could exterminate all hope for a new so-called “alt-season.”
Ethereum’s ProgPoW To Be Released The First Quarter Of 2020 – via UsetheBitcoin
Ethereum (ETH) core developers announced they are postponing the release of Programmatic Proof-of-Work (ProgPoW) to the first quarter of 2020. The information was released by Ethereum developers a few hours ago. At the same time, the whole project “Istanbul,” is going to be released in two different parts.
Dash registers growth amid bearish trend, even as the virtual asset outperforms major coins – via AMBCRYPTO
Dash continued to improve its growth in 2019 and according to their official Reddit blog, Dash enjoyed a lucrative week. It was indicated that Dash had outperformed a total of 8 major coins in the past week. Simple moving average [SMA] of 47% was registered; with Dash outperforming 4 of the top 10 coins.
China’s Shenzhen special economic zone will now support digital currency research – via AMBCRYPTO
The special economic zone of China located in Shenzhen province will now support research on digital currencies as reported by a local daily. China has been ambivalent on cryptocurrency, where they had earlier banned exchanges from operating in the country. However, a lot has changed in recent times.
Bitcoin Beats Every Top 10 Share with the Highest ROI – via beincrypto
According to Datalight, a cryptocurrency data analytics platform, Bitcoin leads the return on investment (ROI) among the top 10 stocks by capitalization. In December 2018, Bitcoin’s ROI fell sharply, landing the cryptocurrency at the tenth spot. Six months later, in May 2019, Bitcoin regained the top spot by beating tech giants like Amazon and Microsoft.
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