Cryptocurrency Daily News Bulletin: March 25, 2019

March 25, 2019 12:38 pm Published by

General News

Bank for International Settlements’ (BIS) general manager Agustin Carstens has warned central banks “are not seeing the value” in issuing a central bank digital currency (CBDC) due to fundamental changes against financial stability and the monetary system.

BlockFi: Beginning April 1, accounts with more than 25 BTC or 500 ETH will only receive 2 percent on the amount deposited above the threshold, not the originally advertised 6 percent. BlockFi founder Zac Prince claims the change is because of the unexpectedly large demand from institutional clients that wanted to deposit more than $1 million worth of crypto. Bloomberg has confirmed this, claiming traders have already moved $35 million in BTC and ETH to accounts at BlockFi in just 3 weeks – highlighting the new trend in the industry. 

BMW Group Asia, Intel and Nielsen are now corporate partners of the Singapore government-supported blockchain accelerator Tribe. Tribe Accelerator announced the three firms will share knowledge and subject expertise in their respective fields with Tribe’s startups in order to help build an “inclusive” ecosystem “ready for industry 4.0.”

Duke University is teaming up with blockchain startup Citizens Reserve to jointly create a new incubation lab on Duke campus for students to work on real blockchain projects, create a curriculum on blockchain tech and connect students with job opportunities in the industry.

R3 co-founder Jesse Edwards has left the enterprise blockchain company. He departs due to strategic differences over how to spur investment in startups that build on top of Corda. However, R3 claim they will look to collaborate with Jesse on his next blockchain project.

Cryptocurrencies

Bitcoin $4,021.57 USD (-0.10 percent): Bitwise Asset Management released a new report showing the bitcoin futures market is far larger, relative to the spot market, than previously thought. The report claims 95 percent of all reported bitcoin trading volume is faked and the true spot market for bitcoin exists only on 10 different exchanges conducting $300 million in daily trading volume compared to the $6 billion trading volume shown on CoinMarketCap (CMC). Nevertheless, the bitcoin “futures market is significant” considering the remaining, genuine 5 percent of spot trading that occurs at regulated exchanges. According to Binance CEO Zhao, exchanges are faking trading volume in order to obtain a high standing on CMC – which brings more referral traffic to Binance than any other site.


Ethereum’s
 $136.94 USD (-0.50 percent) number of transactions just hit a six-month high.

Litecoin $59.88 USD (-0.74 percent) Foundation project director David Schwartz says the Foundation has formed a new partnership to get the word out about LTC. The sponsorship portion will involve speaking the name of Litecoin at the end of thousands of radio ads per month – costing the foundation $6,000 worth of Litecoin every month.

Ripple’s $0.308244 USD (-0.53 percent) XRP has officially been declared Sharia-compliant in an audit from Rain exchanges’ partner, the Shariyah Review Bureau, days after being listed. Toronto-based crypto exchange Bitbuy has also just listed XRP, paired with the Canadian dollar. Meanwhile, Santander’s UK help desk said it’s using XRP to power payments to 19 countries, including the US, through their One Pay FX app.

Stellar $0.105112 USD (-1.78 percent) and IBM’s World Wire remittance platform has signed on forex company Currency Matters. Meanwhile, XLM will soon be supported by Binance’s Trust Wallet according to founder Viktor Radchenko.

– WN.com, Jamie Saarloos



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