Electrum Bitcoin Wallet to Support Lightning Network in Next Release

The next release of major Bitcoin (BTC) wallet software Electrum will support off-chain scalability solution Lightning Network (LN). The Electrum official Twitter account announced the upcoming LN integration in a tweet sent on Oct. 14. The tweet announced: “The next release of Electrum will support Lightning payments. Our lightning node implementation has been merged into Electrum’s master branch.” Electrum also confirmed that the wallet will employ a new implementation developed in-house, written in Python. High hopes for Lightning Network Lightning Network is believed by many Bitcoin proponents to be the…

A Budding Financial Romance at the Perfect Time

If you’ve been following Peter Schiff for his prediction of the 2008 financial collapse or strictly because of his affinity for gold, then you’re probably aware that he is not a fan of Bitcoin (BTC), but would he be interested in gold-backed smart contracts? The United States Federal Reserve cut interest rates by another quarter-point on Sept. 18 following the European Central Bank’s Sept. 12 announcement on its negative interest rates and decision to re-introduce quantitative easing. With negative-yielding bonds looking like a shaky refuge from the storm looming on…

Ripple, Coinbase Invest in Mexico’s Biggest Crypto Exchange Bitso

Ripple, the firm behind the third biggest cryptocurrency XRP, has led an investment round in Bitso, one of the biggest crypto exchanges in the Spanish-speaking world. The first Mexican crypto exchange An early partner of Bitso, Ripple has led the new investment round to support the first cryptocurrency exchange in Mexico, the company officially announced on Oct. 14. As reported by crypto publication The Block, the new investment round also involves major investors including United States-based crypto exchange and wallet provider Coinbase, Jump Capital as well as existing investors such…

Senate’s Pressure on Libra Association Is ‘Un-American’

Coinbase CEO has criticized United States’ senators for asking Stripe, Mastercard and Visa to leave Facebook’s crypto project Libra. “Something feels very un-American about this” After U.S. Senators Brian Schatz and Sherrod Brown apparently pressured the payment giants to leave Libra, Brian Armstrong, co-founder and CEO of major U.S. crypto exchange Coinbase, called the action “un-American” in a tweet on Oct. 13. Armstrong wrote: “Something feels very un-american about this. Two senators writing to Visa, Mastercard, and Stripe to ask them to withdraw from Libra.” Senators’ letter pushes payment giants…

CME Says Bitcoin Futures Gaining Interest From Big Investors

CME Group, the Chicago-based exchange operator, said its bitcoin futures contracts grew in popularity last quarter, with the number of open contracts up 61 percent from a year earlier because of growing demand from institutional investors. Open interest, or the number of outstanding positions, rose to 4,629 contracts, up from 2,873 in the third quarter of 2018, CME said Monday in a statement. And despite the quarter’s 25 percent drop in bitcoin price, according to CoinDesk, the open interest in the CME’s contracts was down just 1 percent from second-quarter…

Ethereum Smart Contract interaction out of the coldest of storage

By Max Blaushild, security engineer, Coinbase Custody (This blog post reflects a talk that Max Blaushild gave at Devcon 5 in Osaka, Japan) At Coinbase Custody, security is our top priority. The strength of our battle-tested cold storage solution is why more customers choose us to hold their funds than any other custodian on the planet. We use friction as a feature, introducing obstacles such as offline storage, single use addresses and human validation that make it extremely difficult for attackers to steal our customers’ funds. This friendly friction comes…

US Treasury Secretary: Regulatory Fears Forced Libra Exodus

U.S. Treasury Secretary Steven Mnuchin said backers of Facebook’s cryptocurrency Libra dropped out of the project over concerns that the stablecoin project would not meet regulatory standards. Speaking on CNBC, Mnuchin said that if Libra wouldn’t meet US money-laundering standards via the Financial Crimes Enforcement Network, it could open them up to enforcement actions. “I think they realized that they’re not ready, they’re not up to par,” Mnuchin said. “And I assume some of the partners got concerned and dropped out until they meet those standards.” Mnuchin said he met…

5 Top Car Makers Enter Field Trials for Automatic Blockchain Payments

A group of major automakers are about to hit the road with the first field testing of a blockchain-based vehicle identification network next month in the U.S. As reported by Nikkei Asian Review, BMW, General Motors, Honda, Ford and Renault are working with the Mobility Open Blockchain Initiative (MOBI) on integrating the system to automatically make payments on typical commuting runs without the need for cash or credit and debit cards. By assigning vehicles unique identities that store data such as ownership and histories on a blockchain, the industry initiative aims to…

Daily Liquidity Comes to Crypto Fund With Lukka Accounting Tool

Crypto accounting and data processing firm Lukka has partnered with fund administrator Theorem Fund Services to provide same-day net asset value reporting capabilities to digital assets index fund Hashdex. New York-based Lukka invented the first crypto tax calculator and is the first data services firm to help monitor fund performances and prepare auditable financial statements for crypto assets on a daily basis, CEO Jake Benson told CoinDesk. “In a super volatile market, having daily liquidity is really advantageous,” Benson said, noting same-day reporting offers more protection for investors compared to…

CoinDesk’s On Tap Meetup With CoinDesk Japan Is Happening Tonight in Tokyo

We’ll see you tonight at our Tokyo On-Tap event produced in cooperation with the amazing team at CoinDesk Japan. The event will be held at DevilCraft Hamamatsucho (〒105-0013 Tokyo, Minato City, Hamamatsuchō, 2 Chome−13−12 ライズウェルビル 1F) at 6 p.m. It’s a very informal meetup without an agenda. We just want to meet and talk. All CoinDesk readers are invited and we hope to learn about your work in crypto, your startups and your ideas. Please fill out this form if you’d like to chat on video about the Japanese ecosystem. If…