The top news in the last 24 hours are shown below:
Facebook’s Facecoin Set to Replace the U.S. Dollar, Not Bitcoin: Kik CEO
Facebook, the social network giant that got down to getting involved in the crypto sphere at the end of last year, seems to provide competition not only to Bitcoin. As Ted Livingston, CEO of messaging platform Kik has stated, Facebook’s stable coin is going to replace the U.S. dollar.
@Bitcoin Account Accuses Twitter of Shadow Banning to Restrict Its Reach
On March 23, the Twitter handle @Bitcoin became mired in controversy after BTC supporters complained about the account and attempted to get the profile shut down. The operator of the Bitcoin Twitter profile has also accused the social media platform of manipulating matters by placing restrictions on the account and limiting its overall traffic.
How to Help Influence Crypto Regulation in India
The Indian crypto community is ramping up its efforts to bring about positive crypto regulation and an end to the banking ban imposed by the country’s central bank. There are several ways crypto enthusiasts in India can join in on the efforts, the CEO of a local crypto exchange, who has been running a popular social media campaign for the two causes, has shared with news.Bitcoin.com.
Mineable Cryptocurrencies Are Far More Valuable Than Non-Mineable Coins
There are 2,121 digital currencies tracked on market websites with a net valuation of around $140 billion. Statistics for the end of Q1 2019 show mineable digital assets to be the most valuable cryptocurrencies on the market today, with the top eight mineable coins representing 68 percent of the entire crypto economy.
Changes to Tether’s Terms of Reserves Raises Fresh Concerns
Controversial stable coin Tether is in the spotlight again after changes to the details of how it backs up tokens in supply. As reported on March 14, various online users noted and posted disconcerting changes to the Tether website, which have seemingly altered the way that the company is providing surety for the tokens it issues.
Japan: Yahoo!-Backed Cryptocurrency Exchange Set for May Launch
Japanese cryptocurrency exchange Taotao (formerly BitARG) will start trading a limited range of cryptocurrencies in May, Cointelegraph Japan reported on March 25. Taotao, which is 40 percent owned by a subsidiary of Yahoo! Japan, will initially trade Bitcoin (BTC) and Ethereum (ETH), with margin positions available in three additional cryptocurrencies: Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP).
Wine, Mountains, and Mining Rigs: Georgia as a Crypto Powerhouse
The former Soviet republic of Georgia, which occupies picturesque mountain valleys and rugged ridges of the Southern Caucasus, has roughly the same population as the state of Connecticut. It is renowned as the birthplace of Joseph Stalin, as well as for being one of the oldest wine regions in the world, its rich and eclectic cuisine, and, more recently, for hosting the world’s third-largest cryptocurrency mining operation.
Tim Draper Urges Argentina’s President to Legalize Bitcoin to Improve Economy
Crypto bull Tim Draper has advised the president of Argentina to legalize Bitcoin (BTC) to improve the economic situation in the country, Cointelegraph en Español reports March 22. The American venture capital investor reportedly met with Argentina’s president Mauricio Macri on March 20 to discuss the economic prospects of the Latin American country.
“We were speaking of Bitcoin and the devaluation of the peso, and I proposed a bet: if the peso would be valued more than Bitcoin, I would double my investment that I was making for the country. But if Bitcoin gained a higher rate than the peso, they would have to declare it as a national currency. That would be a perfect decision, as there’s a lack of confidence in this coin.”
Fintech Firm trueDigital Expands Over-the-Counter BTC, ETH Reference Rate Distribution
New York-based fintech infrastructure provider trueDigital Holdings (TDH) is partnering with crypto data firm Kaiko and digital assets analytics company Inca Digital Securities to widen the distribution of it’s over-the-counter (OTC) reference rates for Bitcoin (BTC) and Ethereum (ETH). The development was shared with Cointelegraph in a press release on March 25.
Leading Social Platform eToro Acquires Smart Contract Development Company Firmo
Exchange and social network for investors and traders eToro announced that it had acquired smart contracts development company Firmo for an undisclosed amount. The acquisition was reported in a press release published on March 25. Co-founder and CEO of eToro Yoni Assia is quoted in the announcement explaining that the acquisition will allow the platform to grow its offering of tokenized assets. He also noted:
“We believe that in time all investible [sic] assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain.”
E-Commerce Firm Rakuten Readies Cryptocurrency Exchange for April Launch After Name Change
Japanese e-commerce giant Rakuten has completed registration of its cryptocurrency exchange Rakuten Wallet, which will go live next month, the company confirmed in a press release on March 25. Rakuten, which follows several major Japanese tech players in entering the crypto exchange market, renamed its product from Everybody’s Bitcoin earlier this month. The company had acquired the exchange under the former name in August last year for 265 million yen (at the time $2.4 million).
LocalBitcoins Announces Supervision by Financial Supervisory Authority of Finland
International peer-to-peer (P2P) crypto exchange LocalBitcoins will soon become supervised by the Financial Supervisory Authority of Finland, as the firm announced on its blog on March 25. Helsinki-based LocalBitcoins wrote that the Finnish Parliament approved new legislation that will provide legal status for cryptocurrency assets on March 13, 2019. The authority has passed a proposal for a new Act on Virtual Currency Service Providers that is expected to come into force in November 2019.
Quadriga: Mystery Deepens Further As Criminal Past of Founder Emerges
The case of QuadrigaCX, the crypto exchange which has misplaced between $140 and $190 million of its users’ funds deepens as it emerges the surviving founder of the company has a criminal past with multiple felonies and jail time served.
A Thousand Times Today’s Market Cap, Tim Draper’s Crypto Prediction
Tim Draper believes in cryptocurrency. He thinks that radical change is inevitable and in a recent talk he went as far as to say, “we’re going to see more change coming from Bitcoin and the blockchain than we did from the internet.” That’s a bold prediction, but Draper makes a good argument for why this will be the case.