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Crypto Week In Review: CFTC merges into Ethereum, Coinbase integrates with Paypal



While 2018 will close, a number of analysts expected a "Santa Claus" rally, while the cryptography market would experience a positive reversal on Christmas holidays. Yet, the value of Bitcoin, along with the alt-over on which it reigns, has continued to suffer. In the midst of the market turbulence, the news cycle of this sector has also diminished, with discussions on promising product releases and institutional incursions that have become a rare spectacle. However, many optimists remain who are hoping for what will come in 2019.

CFTC requests for public feedback on Ethereum, Altcoin

After more than a year of clamor about the future of Bitcoin (BTC), while CBOE and CME launched contracts, and Bakkt unveiled their plans, it is expected that a new competitor will enter the scene of alternative investment vehicles of Crypto. This, of course, is Ethereum (ETH), which previously sat in Bitcoin as the second capitalized cryptocurrency of value.

The Commission for Commodities Futures Futures (CFTC) confirmed these rumors only last week, as the entity submitted an "information request" to the public regarding alternative cryptocurrencies, namely l & # 39; ETH. The governmental authority wrote:

"L & # 39; RFI [Request For Information] it also seeks to understand the similarities and distinctions between Ether and bitcoin, as well as opportunities, challenges and specific risks of Ether. "

It is believed that the CFTC is seeking public opinions and comments to precede its decision on a tool sponsored by the ETH, such as the proposed future by Ethereum supported by the CBOE. Interestingly, not everyone is convinced that Ether-based futures will be useful for the good. Tom Lee, for example, told Business Insider that ETH futures will allow speculators to push the price of the lower asset, even if the contract is not physically supported. Su Zhu, CEO of Three Arrows Capital, based in Singapore, echoed these concerns by issuing a poll for surveys if the advent of such a product would help ETH.

Cash Square Top by Bitcoin Friendly Apple, Google Play Store

Last Saturday, Miles Suter, a prominent Bitcoin commentator, revealed that Cash App, an application of mobile financial services supported by Square, had become an application no. 1 on Apple's iOS App Store, an extraordinary achievement for any startup. Although this development is not exciting in and of itself, the fact that Cash App (Square & # 39; s Cash) natively supports the purchase and sale of BTC is undoubtedly a fact that has hit a cordon of cryptocurrencies in all the world.

Commenting on this surprising event, Matt Odell, a longtime "Bitcoiner", exclaimed that Square & # 39; s Cash, which has the approval mark of Twitter CEO Jack Dorsey, will be the primary catalyst for Bitcoin's growth over the years. to come. Odell noted that the application, available throughout the United States, has a much stronger impact on this budding market than an exchange-traded fund (ETF) managed by Bitcoin.

A few days later, Square Cash came to the top of the charts of iOS, the popular fintech program earned in the Google Play Store, the go-to location of Android for applications and content. The application sponsored by Jack Dorsey has presumably become the most downloaded free loan application on the Play Store, due to a rapid influx of downloads. Square's flagship product is now facing its most important competitors – Venmo, in third place on the same chart, and Paypal.

Related reading: The Crypto-Friendly Cash app from Square is the most downloaded financial application on the Play Store

Facebook strengthens the Blockchain Division in the bear market

Those familiar with the issue told Cheddar, and his promising commercial news release, that Facebook has strengthened its blockchain division, even amid the sad market crisis. Insiders have said that nearly 40 employees, made up of blockchain developers and former members of the highest level of Paypal, now work within the walls of the secret initiative.

However, Menlo Park's social media giant does not want to interrupt its expansion efforts at any time, however. In recent months, when bears have taken over the cryptocurrency industry, Facebook would have shot representatives from around the world looking for potential team members at industry events. Facebook Blockchain recruits have also reported that they have taken part in prominent encryption projects, particularly in an apparent attempt to refine talent with potential.

Although Facebook evidently means business with its blockchain raid, not much is known about the internal mechanisms of the beam and long-term ambitions. A source, which remains anonymous, told Cheddar that the company intends to launch a "decentralized digital currency", but this statement can not be confirmed by NewsBTC. Yet while such digital heritage is undoubtedly an absurd plan, as it should operate efficiently on a large scale, several voices have accentuated the fact that a token may be under development in Facebook's new arm.

Crypto Tidbits:

  • Basis Shutters $ 133 Million Stablecoin Project: In an apparent sign of the times, so to speak, Basis, a stablecoin project supported by three Princeton graduates, has bent. The base promised to be a breath of fresh air in the realm of stablecoin – full of skepticism – advertising its "central bank" based on algorithms and a multi-crypto asset ecosystem to facilitate stability. Yet, according to preliminary reports by The Block, subsequently confirmed by the same American startup, stoverecoin had to close its operations due to "regulatory obstacles". The US Securities and Exchange Commission (SEC) would have forced the hand of Basis, as the upstart tokens quickly became classified as digital titles. The company will presumably do its best to return $ 133 million in venture capital received from Google Ventures (GV), Andreessen Horowitz, Bain Capital and a number of other prominent investment groups.
  • Samsung tips for the Crypto portfolio offer: While the HTC Exodus smartphone arrives in consumer homes, while Sirin Labs has released more details about its smart blockchain-centric device, Samsung has hinted at the start of cryptographic software. For an exclusive Sammobile relationship, Seoul's technology giant recently signed three terms with the name "blockchain". The three names, "Blockchain KeyStore", "Blockchain Key Box", "Blockchain Core", are purported to belong to a portfolio of cryptocurrency and cold storage solution that the multinational will launch alongside the Galaxy S10 smartphone. The offer will presumably have two parts: a cold storage solution for cryptocurrencies, which will block private keys in a protected enclave and a complete portfolio that supposedly will resemble its rivals in Bread Wallet, Blockchain.com and applications comparable. It is assumed that Samsung's proposed portfolio includes BTC, Ethereum, ERC-20 and Bitcoin Cash tokens as supported assets. Issuing a comment to a number of outlets, Samsung representatives were not able to deny or confirm reports.
  • Gemini launches the mobile app, Winklevoss Twins bullish on Bitcoin: Between an extended bear market, Gemini, the US-based exchange led by Harvard graduates, the Winklevoss twins, has unveiled its latest offering – Gemini Mobile App. The application, currently listed on Apple's iOS Store and Google Play Store, will be linked to the flagship product Gemini, its bag complies with the regulations. Gemini Mobile, which combines similar initiatives from Binance, Coinbase and Poloniex, will allow users to buy and sell cryptocurrency, track their portfolio value, create price alerts and archive their positions. This cutting-edge mobile program comes just days after Gemini listed Bitcoin Cash (BCH). In tandem with the launch of the product, Bloomberg has released an interview with the Winklevoss Twins, Harvard graduates who once represented America at the Olympics. Tyler told the outlet to be "totally at home in the winter", subsequently opening the plans of his startup for 2019. First, Tyler made it clear that Gemini is not changing its basic business strategy to facilitate only institutional participants , before adding that the New York-based company intends to incursion into the ecosystem of the Asian cryptocurrency. This plan only underlines the conviction of the twins that the cryptocurrencies are here and they are here to stay.
  • American and Canadian companies hit with Bitcoin Bomb Threats: On Thursday, companies, government entities and stores around the world have seen presumptuous emails appearing in their inboxes. According to the emails collected by the authorities and the media, to whom it was intended, most of which was located in Canada and the United States, was asked to pay thousands of dollars in Bitcoin (BTC). If the specified sum has not been sent, the authors of the message, alleged cybercriminal consortia, have threatened to activate explosives in targeted places. As the fear spread, a multitude of targeted businesses evacuated their workplace, including Infinity Ward, the development group behind the Call of Duty franchise.
  • Coinbase launches Paypal withdrawals for US customers: Since Coinbase has launched its so-called "12 days of [Christmas]"Initiative Monday, the world-famous startup has embarked on the introduction of a new feature for its product roster every day Friday, day six of the festive event, the company based in San Francisco revealed that would have allowed its US-based clientele to withdraw their fairy balance on Coinbase Consumer via Paypal.Users who use this feature will not be charged by Coinbase or Paypal, making it an affordable and relatively quick proposal for reviewers Prior to this newfangled integration, US platform customers had to make use of the extremely slow network of wire transfers.
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