These are some of the most interesting news items out today addressing the current bearishness of the crypto-coin markets.
Cristine Lagarde Proposed as ECB President
According to a beincrypto.com article, Cristine Lagarde, current IMF Managing Director, is being “actively considered” to be the next president of the ECB according to officials notified on discussions at a summit in Brussels.
Lagarde is considered sympathetic to the crypto world. In an interview by CNBC in April, 2019, she said that distributed ledger technologies such as cryptocurrencies are shaking the system, although she is in favour of regulating innovative technologies to maintain the stability of the system.
Read the full article found on beingcrypto.com here.
Ripple’s Xpring has Invested $500 million to build its XRP Ecosystem
Xpring, Ripple’s initiative for investments in the crypto world, has invested more than $500 million in more than 20 blockchain projects, including $20 million in Coil, and a $100 million fund in the gaming startup Forte.
“Our goal at Xpring is to make it easy for developers to build projects that create real use cases for XRP,” (Ethan Beard)
Read the full article here.
Kraken CEO says Tether is not driving the Bitcoin price
TD Ameritrade interviewed Jesse Powell, Kraken CEO, about large flows of Tether entering the crypto market.
The latest surge in #bitcoin has been accompanied by big volume in #tether. Watch as @krakenfx CEO @jespow details to @OJRenick why the controversy over the stablecoin is much ado about nothing.$BTC $USDT
— TD Ameritrade Network (@TDANetwork) July 1, 2019
Powell agreed that an increase in Tether supply signifies that fresh fiat money enters the crypto market, but reiterated it is not “artificially inflating the price of bitcoin”.
He was asked, also, about the possibility of Tether being delisted from Kraken. He answered that Kraken actively monitors all assets it lists. If something listed is found to be a scam, it would be delisted, but that Tether does not still fall in that category, said.
Read the full article
Bitfinex Makes $100 million loan repayment to Tether
This Tuesday, July 2, Bitfinex announced it had repaid its outstanding debt to Tether. This news comes after the April 25 announcement from the office of New York’s Attorney General, Letitia James.
… her office “had obtained a court order enjoining iFinex Inc., operator of the Bitfinex virtual asset trading platform, and Tether Limited, issuer of the ‘tether’ virtual currency, and their related entities, from further violations of New York law in connection with an ongoing activities that may have defrauded New York investors that trade in virtual or ‘crypto’ currency.” – Source Cryptoglobe.com
Full article by www.cryptoglobe.com
UK regulators Move to Ban Leveraged Crypto
The Financial Conduct Authority (FCA) announced yesterday that, based on the results of their December 2018 consultation paper “Restricting contract for difference products sold to retail clients and a discussion of other retail derivative products” they will release a ban on leveraged crypto assets:
We will shortly publish a CP on a potential ban on the sale to retail clients of derivatives and certain transferable securities that reference cryptoassets, following our public commitment in the UK Cryptoasset Taskforce Final Report. Should we decide to proceed with a ban following that consultation, such rules would replace our final measures restricting how CFDs referencing cryptocurrencies are sold to retail clients.
The full announcement is here.
John McAfee Shreds Libra
John McAfee joins the list of personalities shredding Libra for its lack of privacy and perversion of the original blockchain’s intent. In a tweet published at noon today, John McAfee calls Libra “a grotesque distortion of the original intent of Cryptocurrency- economic freedom”. The thread below.
Libra is a grotesque distortion of the original intent of Cryptocurrency – economic freedom. It's a sly implementation of digital identity – our Tracking Number. "Digital identity is a prerequisite" says FB. No! The $7 billion anonymous Privacy coin market belies it. WTFU folks!
— John McAfee (@officialmcafee) July 2, 2019