XRP Eclipses Ethereum, What is Next For The Major Cryptocurrencies?

It what has been one of the largest single purges of the cryptocurrency markets this year, Ripple’s XRP token has surpassed Ethereum in terms of market capitalization. The Bottom Just Fell Out Of The Bottom Just when we thought that things couldn’t get much worst and the bottom was in, the bottom fell out and markets nosedived again. Over the past 24 hours crypto markets have dumped almost $30 billion as they fell from around $210 billion to a 2018 low of $180 billion. The dust has settled at around…

Cryptocurrencies Will Not Replace or Disrupt Fiat Systems

The People’s Bank of China (PBoC) has shown extreme confidence in the superiority of fiat systems over cryptocurrencies. China’s central bank refused to acknowledge blockchain and its derivatives as catalysts for financial innovation. Stating that no technology was able to disrupt the monetary system, the bureau believed that blockchain would not make any substantial difference in the ways conventional financial protocols govern. It further added that blockchain assets like Bitcoin would remain inflexible and without intrinsic value-credit collateral. The comments came as a part of a 20,000-word research paper published…

Younger Germans More Inclined to Invest in Cryptocurrencies

More than a quarter of younger Germans is ready to buy cryptocurrencies, according to a recent poll by the German Consumer Centers of Hesse and Saxony published Monday, Nov. 5. Consumer Centers are non-profit, government-backed agencies organized at state level unions. They focus on consumer protection in addition to providing advisory services. The centers of two German federal states, whose populations total over 10 million people, have conducted a joint survey among internet users. According to the local business media Wirtschaftswoche, the survey polled 1,000 Germans between the ages of…

Coinbase raises Series E round of financing to accelerate the adoption of cryptocurrencies

At Coinbase, we believe that cryptocurrencies and the technologies that power them represent a breakthrough in computer science that will change both the internet and the global financial system for the better. We see tremendous promise in crypto to build the next great phase of the internet (often referred to as Web 3), which has the power to put control back in the hands of consumers, unleash a new era of innovation, and offer greater access to economic opportunities to more people around the world. Today, we’re pleased to announce…

Indian Officials Consider Ban on “Private Cryptocurrencies”

Agents of the Indian government have met to formally discuss a possible ban on private cryptocurrency holdings in the nation. On October 30, 2018, the Financial Stability and Development Council (FSDC) issued a press release detailing their recent meeting where they “reviewed the current global and domestic economic situation and financial sector performance.” The council seemed deeply concerned about “the need for identifying and securing critical information infrastructure,” under the guise of “strengthening security in the financial sector.” To this end, the report mentioned a deliberation “on the issues and…

Coincheck Reopens New Signups, Deposits and Withdrawals of ‘Some’ Cryptocurrencies

Monex Group, the Japanese internet broker that purchased hacked cryptocurrency exchange Coincheck, announced it had reopened new account signups and limited trading in a statement Tuesday, Oct. 30. The latest phase of a step-by-step reboot of Coincheck, Monex added users could also begin depositing and purchasing certain cryptocurrencies. “…Here we announce that Coincheck has resumed ‘new account openings’ and ‘customers’ depositing and purchasing some cryptocurrencies’ services today,” the statement reads. Monex purchased Coincheck for around $33.5 million in April, outlining plans to relaunch the exchange in full compliance with local…

“99 Percent of Cryptocurrencies are Worth Zero”

The interview has been edited and condensed. Nouriel Roubini is a New York-based economist that famously predicted the 2008 financial crisis when only a few considered there might be a threat to the existing course of events at the time. A Harvard alumnus and now a professor at NYU Stern School of Business, Mr. Roubini has always been critical of the crypto and blockchain industry. Oct.11, 2018 he testified at the Congressional hearing on Capitol Hill, Washington D.C., warning U.S. senators about “the mother or father of all scams and…

US Congressmen Call on SEC for Regulatory Clarity Regarding Cryptocurrencies

A group of lawmakers from the U.S. Congress has sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton, calling for regulatory clarity regarding cryptocurrencies, CNBC reported September 28. According to CNBC, more than a dozen congressmen asked Clayton to tell investors how the SEC plans to regulate digital currency. The lawmakers requested clarity on the criteria for identifying digital tokens as “investment contracts” and therefore securities, in addition to a  description of the tools the SEC will use to provide more concrete guidance to innovators in the…