Coindesk News

Zuckerberg: Facebook Would Quit Libra if Association Launched Prematurely

WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory approvals. In a hearing of the House Financial Services Committee Wednesday, Zuckerberg fielded pointed questions on a variety of controversial issues around the social …

Bitcoinist News

Bakkt Bitcoin Trading Volume Sets New Record After Flash Crash

Bitcoin just lost over $500 in a few minutes, and apparently, institutional investors went crazy. On Bakkt, trading volume for its Bitcoin monthly futures almost hit 350 BTC today. The indicator might exceed the 1,000 threshold by the end of the day.   Institutional Investors Use Bakkt to Buy Cheap While it’s difficult to understand …

Cointelegraph

Researcher: Google Quantum Breakthrough Could Improve Proof-of-Stake

The application of Google’s quantum computing technology could purportedly help improve the technology which underpins proof-of-stake (PoS) cryptocurrencies. Quantum computing would create truly random numbers PoS is a type of consensus algorithm where block creators are randomly chosen with probability proportional to their stake, while the algorithm of proof-of-work-based digital currencies uses mining. However, the …

Bitcoin News

How Fiat Money Fails: Deconstructing the Government’s Paper-Thin Promise

Fiat money has a surprisingly short lifespan. The almighty U.S. dollar currently serving as world reserve currency is not exempted, in spite of all proclamation that it cannot fail. Throughout history, fiat money has failed over and over again, where sound assets like gold have survived. Ruling out acts of god and unforeseen circumstance, the …

Blockonomi News

Bitcoin Literally Fixes This: 50% of Banks Won’t Survive a Recession

If you have perused the hallowed halls of Crypto Twitter over the past few months, you’ve likely encountered “Bitcoin fixes this.” The meme, which has quickly become one of the industry’s favorite, has become somewhat of a ubiquitous phrase — a catch-all meme if you will — to use whenever the traditional world runs into …

Blockonomi News

XRP Backers Ripple Set to Boost Blockchain Cause to Washington D.C.

Billion-dollar blockchain startup Ripple, the developers of the Ripple payments network, has launched a new dedicated advocacy office in the U.S. Capitol as part of its growing efforts to educate lawmakers there on blockchain and cryptocurrency tech. The San Francisco-based unicorn company announced the effort on October 22nd, hailing the move as the first time …

Blockonomi News

Key Takeaways From Facebook CEO Zuckerberg’s Planned Libra Testimony

For most of its nearly 11-year lifespan, Bitcoin has flown well under the radar of the U.S. government. But Libra’s launch has changed things. With the launch of Facebook’s cryptocurrency project, which will be adopted by millions when it launches, global regulators have felt the need to respond. So much so that discussion regarding Libra …

CCN

‘Trump Confusion Trades’ Netting Over $2 Billion Reeks of Insider Trading

Vanity Fair reported four mysterious trades that happened in June and September. These trades were out of the ordinary because the trader or group of traders responsible bought tens of thousands of S&P e-mini contracts minutes before the markets closed. What makes these trades more suspicious is the fact that market-changing events such as the …

Blockonomi News

CTFC “Crypto Dad” Says Trump Admin Used Bitcoin Futures to Reign in Bubble

The U.S. Commodity Futures Trading Commission (CFTC) made history in December 2017 for being the first major regulator in the world to formally greenlight bitcoin futures products. Now we know there was more to the approval than was previously known. In comments made to CoinDesk and during a presentation at the San Francisco-based Pantera Summit …