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January 2012

Binance in Discussions with Facebook Over Libra Coin

by
Libra Coin

Libra Coin

According to CoinTelegraph, one of the world’s largest crypto exchanges, Binance, is in “official” talks with Facebook regarding the latter’s new Libra coin.

The exchange’s strategy officer, Gin Chao, told BlockTV yesterday that the company is “very excited” about the Libra project.

What we know so far, according to Chao, is that the talks “have largely focused on dealing with infrastructure.”

Binance and Libra Coin

While the pair’s discussions are in the early stages, it seems Binance is not holding back its desire to work with Libra “as much as [it] can.”

Chao continued:

“I think the potential that libra can have, not just on mass adoption but what it means to payments and forcing regulators’ hands to catch up a bit, is all good news.”

In a separate interview, the strategist gave more details on the likelihood of Facebook’s Libra listing on Binance:

“It wouldn’t just be in [Facebook’s] interest to list their coin on our exchange. It would also be in their interest to list on other exchanges as well and that’s probably going to happen. So if they decide to go on a public chain, and they get the sort of adoption that they could get, we would probably want to list them.”

And further, he said that Binance would be enthusiastic about becoming a validator node on the Libra network.

Facebook’s Libra Coin

Facebook announced its new cryptocurrency called Libra last week. Rumors about its existence were rife for over a year, however.

According to the Whitepaper, the objective of the coin is simple; users can send money via the internet all over the world faster and with lower fees than standard banking. It also aims to incorporate the 1.7 billion people around the world who don’t have a bank account or a line of credit.

Libra differs in several ways to traditional cryptocurrencies. One of the most interesting facts of Facebook’s currency is that it is more “stable” than regular cryptos. Facebook sought to create a coin that could facilitate every-day online consumer transactions and has done this by “backing all its issued digital currency by a reserve.”

>> Koinex Exchange Shuts Down Trading Services in India

According to Digitaltrends:

“Founding Members are required to pool money into the reserve, with the prospect of a return on their investment via dividends from low-yield investment of the reserve’s assets.”

With Libra coin only announced, it’s official launch is not expected until sometime in the first half of 2020.

Featured Image: DepositPhotos © Shawn.ccf

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Altcoins Almost Wiped Out as Cypto Market Cap Drops $30 Billion

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Altcoins

Altcoins

Thursday was a bad day for altcoins as almost $30 billion USD was knocked from the total crypto market capitalization.

Where Bitcoin Goes, Altcoins Follow

Crypto market capitalization was estimated to be around the $280 billion USD during midday trading yesterday; however, as Bitcoin suddenly took a near 10% hit today to drop below $10,000 USD share price, altcoins were largely forced to bear the brunt of the drop in confidence.

Ethereum, Ripple, and Litecoin, which make up the rest of the top five cryptocurrencies by market cap outside of Bitcoin and Bitcoin Cash, all took hits today, which amounted to nearly $20 billion USD in market value.

This reinforces a recurring trend that where Bitcoin goes, altcoins follow. It’s difficult to judge exactly what caused this dip in crypto shares due to the various external market factors, but some analysts have attributed the drop to a recovery in China’s Yuan currency, among other geopolitical issues. Stocks around the world have faltered this week, after Wall Street flashed a warning that the global economy could be headed towards recession.

Etherum, the second-largest cryptocurrency, fell to its lowest level in three months as its value plunged as much as 14% from $210 to just below $180. Ripple’s XRP, the next largest altcoin, fared no better as it slid to $0.256—its lowest valuation in almost a year. Litecoin, which had been one of the 2019’s better performers, fell back to around $75, meaning it has now essentially lost the majority of gains made in 2019.

>> Massive Indian Telecommunication Provider Develops Blockchain Network

What Next for Altcoin Investors?

The crypto market is notoriously volatile and equally hard to forecast, but it’s clear that this hasn’t been a good week for speculators amidst news of further regulatory uncertainty from the SEC and escalating crypto crime. Only investors with the sturdiest of nerves would jump on the market now, but some would speculate that now is the time to be greedy while others are apprehensive. Quite often, taking a calculated risk can bear the most fruit and with many altcoins hitting near record lows, perhaps now is the time for taking a risk.

What do you think?

Featured image: DepositPhotos © maloha13

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Solutions Risque | Security & Investigations Firm Joins Crypto Market

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Solutions Risque

Solutions Risque

Montreal, Quebec, Canada–(May 23, 2019) – Solutions Risque Investigations & Security Services, a security and investigation firm headquartered in Montreal, Quebec, Canada, has been offering executive protection services since 2017 to crypto companies and professed “crypto influencers” who have been cast into the limelight and increasingly at risk of crypto crime. Solutions Risque is showing an expanded concentration and niche security expertise working with individuals in the crypto community.

Quebec’s Support for Crypto Miners

On April 29, 2019, the province of Quebec’s energy board, Régie de l’énergie, ask Hydro-Quebec, North America’s largest producer of renewable energy offering some of the lowest electricity rates in North America, to allocate a total of 668 megawatts to crypto miners.  To date, most crypto miners were located in China but the Chinese government has been threatening an outright ban on crypto mining. The news coming out of the Canadian province has led to a dramatic influx in interest by crypto related companies wanting cheap electricity and support from a local government making Quebec, Canada the global hub for Bitcoin mining.

A spokesman for Hydro-Quebec confirmed the industry shift from China to Canada:

“Of the world’s top five largest blockchain players, we have at least three or four” – David Vincent, director of business development Hydro-Quebec. Chinese based Bitmain Technologies, operates the world’s largest and second largest Bitcoin mining pools in terms of computing power, confirmed that the company was in talks with Quebec’s energy board, with an eye towards identifying potential bitcoin mining sites in the province.

A spokesman for Solutions Risque confirms the company’s interest:

“Crypto has enormous growth potential for the coming decade and Solutions Risque will continue offering executive protection, investigations and corporate security services to those in the crypto space.” – Jonathon Bachar

About Solutions Risque Investigations & Security

Solutions Risque, is a fully bonded, insured and licensed Montreal private investigation and security agency granted by The Bureau de la sécurité privée. Our team comprises of experienced professional Montreal private investigators from the public and private security industry that adhere to a high standard of protection and professional ethics. With over 35 years of experience, our Montreal and Quebec expertise in surveillance, fraud prevention, private investigation and protection services are often solicited by other provinces and states.

For More Information Contact:
Solutions Risque Investigations & Security
www.SolutionsRisque.com
info@SolutionsRisque.com

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Bitcoin (BTC) Corrects 30% & Falls Below $10K

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Bitcoin

Bitcoin

Bitcoin price has pulled lower, a move that has been attributed to traders taking profits after a meteoric rise in recent weeks. A spike to one-year highs of $14,000 had initially elicited suggestions that the crypto was on its way to new all-time highs. However, that was not to be, as a 30% pullback has triggered a slide below the $10,000 mark.

Bitcoin 30% Pullback

The steep pullback may well be the result of a trader placing a sizeable short order of 20,000 BTC on Bitfinex exchange. The short trade saw the trader bet more than $200 million that Bitcoin price would go down. The large short order appears to have triggered panic among retail traders, consequently fueling a sell-off wave.

According to John Todaro, the pullback was more than expected, as Bitcoin price needed a breather after a 300% plus spike in recent months. Sharing similar sentiments is BitBull Capital CEO Joe DiPasquale, who maintains pullbacks are healthy as they prevent the possibilities of unreasonable climbs.

The fact that not all cryptocurrencies came tumbling as Bitcoin pulled lower is positive for the broader sector. The likes of Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH) have only fallen by an average of 7%. Other altcoins retaining their upside swings could as well indicate that traders are not moving their money away from crypto to fiat, as was the case last year.

At the time of writing, Bitcoin is trading at $9,896, down 6.50%.

>> Binance in Discussions with Facebook Over Libra Coin

Bitcoin Still Bullish

The 30% pullback could also have triggered a buying opportunity, going by Bitcoin’s recent trading pattern. In May, the flagship cryptocurrency experienced a 26% pullback followed by weeks of consolidation before it commenced the current leg higher.

The correction could trigger a buying spree, as Bitcoin appears to be trading at a discount given the strength of the upward momentum and long-term prospects. Bitcoin price is likely to continue powering high as cryptocurrency sentiments have improved a great deal in 2019.

The likes of Facebook and JPMorgan launching their own cryptocurrencies have all but added a layer of credibility to digital assets, consequently fueling an upswing in the crypto market. Fidelity, Bakkt, and Ameritrade have started tests on their crypto futures, which is another catalyst likely to fuel further upside action.

Featured image: DepositPhotos © aa-w

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