Facebook to Roll Out ‘GlobalCoin’ Cryptocurrency in 2020: Report

Social media giant Facebook is set to roll out its own cryptocurrency dubbed “GlobalCoin” in 2020, according to a report from the BBC. The news and broadcasting organisation said on Friday that Facebook is planning to launch the cryptocurrency-based payments system in “a dozen countries” by the first quarter of 2020 and is looking to start trials by the end of this year. Facebook has also apparently sought for advice from officials of the U.S. Treasury and the Bank of England governor Mark Carney regarding opportunities and regulatory issues for the…

Crypto Exchange Binance Confirms Margin Trading Coming ‘Soon’: Report

Binance has confirmed it will be launching a margin trading service, after the cryptocurrency exchange accidentally tweeted images suggesting the service was in development. First noticed by Twitter users earlier on Friday, Binance posted screenshots of its platform in dark and light modes, asking users which one they preferred. The screenshots contained a dedicated tab titled “Margin,” with a message saying that margin trading carries a “higher potential profit,” but also “greater risks.” Margin trading refers to using borrowed funds from a broker or exchange to trade an asset. Image via…

Polkadot Tokens Sold on Secondary Markets at Discounted Rates: Report

Tokens for the Polkadot protocol are being offered on secondary markets at heavily discounted rates, The Block reported on May 23. A number of major crypto funds and investors told the website that over-the-counter (OTC) desks had given them the chance to buy large volumes of DOT tokens. Polkadot, a blockchain interoperability protocol created by Ethereum co-founder Gavin Wood, sold its official presale tokens at $30. The private sale price is $120 — and it is believed at least one secondary deal has gone through, with the buyer receiving a 50% discount. Such deals…

Facebook to Roll Out ‘GlobalCoin’ Cryptocurrency in 2020, Report Says

Social media giant Facebook is set to roll out its own cryptocurrency dubbed “GlobalCoin” in 2020, according to a report from BBC. The news outlet said on Friday that Facebook is planning to launch the cryptocurrency-based payments system in “a dozen countries” by the first quarter of 2020 and is looking to start trialing it by the end of this year. More details about Facebook’s crypto plan are said to be revealed in the coming months, the report said. It further added Facebook had looked for advice from officials of…

May to Become Strongest Month for CME’s Bitcoin Futures Trading: Report

CME Group, the second global exchange to list bitcoin (BTC) futures, is about to record the biggest trading month for BTC futures trading, industry news outlet The Block reports May 21. The publication has reportedly cited data from an external email from CME. The Chicago Mercantile Exchange purportedly revealed that the average daily bitcoin futures trading volume hit a new high of 14,000 contracts solely in May 2019. To date, May 13 has reportedly become the biggest trading day for CME’s bitcoin futures, with the platform having registered 33,700 contracts…

Centralized Crypto Exchanges Saw Major Monthly Volume Uptick in April, Report Shows

Centralized cryptocurrency exchanges saw a major uptick in traded volume this April, the new April 2019 Exchange Review from crypto data provider Cryptocompare has revealed on May 20. Among top fiat-to-crypto platforms, monthly volumes overall increased by a solid 85%. While itself experiencing a 47% drop in volumes, major South Korean crypto exchange Bithumb was the top exchange by total volume in April overall, reporting $17 billion. Bithumb was followed by Upbit and Bitfinex at 8.7 billion USD (up 20%) and 6.7 billion USD (up 114%) respectively, the report continues.…

Kik CEO Says Firm Spent $5+ Million on Negotiations With US SEC: Report

Ted Livingston, the CEO of Canadian-based messaging startup Kik, told cryptocurrency news outlet Coindesk that the company spent over $5 million on ongoing negotiations with the United States Securities Exchange Commission (SEC). The news was revealed in a report published on May 16. As Cointelegraph reported at the end of January, the SEC stated that it believes that Kik’s “Token Distribution Event” two years ago violated securities laws when the company raised $97 million during the sale. Following the SEC’s recommendation of an enforcement action in November 2018, Kik was…

Circle Releases Another Attestation Report on Stablecoin USDC’s USD Reserves

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17. USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September. Per this week’s announcement, the audit of the coin’s fiat reserves was conducted by major Chicago-based accounting firm Grant Thornton LLP. The report released by the firm states that as of April 30, 2019 at 11:59 p.m. Pacific Time…

Ripple (XRP) Bulls Firm despite Coin Metric Report

Ripple (XRP) up 25.6 percent Ripple Labs exposed by Coin Metrics as David Schwartz says it is a “timeline issue.” Coin Metrics now reports that Ripple Labs did under-reported the number of XRP released from escrow by a total of 200 million XRP while implementing the “escrow queue” differently than announced. The reaction could be heaping pressure on XRP which is fast dropping, clawing back this week’s gains. Ripple Price Analysis Fundamentals According to a Coin Metrics report, Ripple Labs is allegedly misrepresenting the actual amount of XRP in their…

Coin Metrics Report Highlights Discrepancies in Ripple’s Escrow System Reporting

Blockchain analysis company Coin Metrics has found discrepancies in blockchain payments network Ripple’s escrow system reporting, according to a May 16 report. Coin Metrics, which conducts analysis of various aspects of cryptocurrency tokens, investigated Ripple and discovered what it said were contradictions that required an explanation. “Coin Metrics found several important discrepancies between what was publicly reported by Ripple and what was visible on the XRP ledger,” the report summarized. The three aspects are the following: “Two quarterly markets reports under-reported the number of XRP released from escrow by a…