Author: dfmines

“We want members of Congress to know that we’ll be watching them and that we won’t let them hide from their positions on this,” said Evan Greer.

The moral of the story, as always, is don’t overreact to FUD and stick to your plan be it bullish or bearish. A picture of Cramer should be in the dictionary next to the term "weak hands." The other moral is don't watch Mad Money for crypto advice. It's pretty funny tho. Here is the…
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Algofi, a platform to earn high-interest yields on cryptocurrency, announced today the upcoming launch of its decentralized lending market app on the Algorand blockchain. The protocol is currently live on Algorand’s testnet, with plans to launch on mainnet by Q4 of this year. Founders John Clarke and Owen Colegrove bring traditional finance backgrounds to Algofi,…
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Kraken, following Brexit, seeks another license to re-surface in the European market with top choices, including Luxembourg, Malta, and Ireland. Kraken is the second top crypto exchange in the United States by its trading volume. It is presently seeking a new license to re-enter the European market towards the end of 2021. Kraken has entered into a dialogue with regulators in various European countries to this effect. Related Reading | Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 Million In Funds The exchange, according to Kraken’s spokesperson, initially operates in Europe. But its European clients can currently access it only through an entity registered with UK’s FCA (Financial Conduct Authority). Kraken Claims Its Compliance To Rules Kraken claims to have been complying with the applicable requirements of 5AMLD – EU’s Fifth Anti-Money Laundering Directive. The exit of Great Britain from the E.U. signifies that Kraken needs to source for re-entering the continent. Thus exchange’s spokesperson said earlier that; “Kraken is an exchange that is regulatory compliant and exists in almost 190 jurisdictions across the globe. Though, it maintains constructive and proactive dialogues with crypto regulators in the fast-growing European regulatory landscape.’ He added that the firm plans always to be and remain regulatory compliant.” The Kraken founder and CEO Jesse Powell stated that the company is working to obtain a European country license. He made this known during an interview with Handelsblatt, a German Business publication. Powell added that the Kraken exchange seeks to re-enter Europe by the end of 202. It will go with the Republic of Ireland, Malta, and Luxembourg, among possible countries, to award such a license. However, they are yet to fix an official date as the talk still goes on. In the past June, Coinbase received a trading and crypto custody license for its new German division. It’s the biggest crypto exchange in the United States and exchange’s main competitor with BaFin license-the German Federal Financial Supervisory Authority. Coinbase also offers services to users across other European Countries. Powell emphasized that the exchange is resistant to toll the same path as Coinbase. He added that the exchange also talked with BaFin but saw Germany’s climate condition to be harsh and restrictive. As a result, they found it too expensive to operate there with these conditions. Kraken’s Conventional Approach To IPO The crypto exchange was planning to raise fresh capital to raise the market valuation of San Francisco-based Company above $10 billion. This was revealed by a report earlier this year, which raised speculations that the exchange will finally go public. This was similar to the action Coinbase took in April via direct listing. Related Reading | PayPal To Facilitate UK Customers With Cryptocurrency Trading Feature On the listing, Powell confirmed that he plans to do something similar. However, he later accepted possible adjustments on the initial plans as he takes a closer look at a more traditional initial public offering. Featured image from Kraken Medium

According to David Marcus of Facebook, you must seek out ways to clients support NFTs if there is a good cryptocurrency wallet such as Novi. After completing Facebook’s exclusive crypto wallet Novi, the top-notch social media magnet, will likely support NFTs (non-fungible tokens) very soon. The co-creator and financial head of Facebook, David Marcus, launched cryptocurrency Diem. In his speech on Wednesday, he stated that Facebook is assuredly searching for realizable ways to enter into the Non-fungible-Tokens industry. Facebook is considering many different choices to launch the NFT features when the right time comes, says Marcus in an interview with Bloomberg Television. Related Reading | 37% Of U.S. Investors Decline To Liquidate Cryptocurrency Assets in Bearish Situations According to him, “with a good cryptocurrency wallet such as Novi, there is the need for you to think on how to assist clients support non-fungible-tokens,” he says. Crypto wallet Novi is currently “ready for launch,” says Marcus. However, after developing the wallet for two years now, Facebook is not in a hurry to launch it, pending the firm’s go-ahead from regulators to launch together with Diem. The Origin Of Facebook Backed Crypto-Wallet Novi Facebook started the work on this digital currency a couple of years ago, initially bearing answering Libra. On June 18th Facebook broadcasted a white paper for their long-awaited blockchain-based and cryptocurrency financial framework project. As stated by the paper, the social media magnet global stablecoin named “Libra” will function on a scalable and native blockchain. Also, it will be supported by reserve assets designed ostensibly to provide it with intrinsic value and reduce volatility fluctuations. All the assets comprise a basket of short-term government securities and bank deposits, held within Libra Reserve per every issued Libra. In addition, the governance of the current crypto will be through a Switzerland-based not-for-profit consortium – “Libra Association.” It counts Stripe, Visa, PayPal, Mastercard, Uber, Andreessen Horowitz, Coinbase, and eBay as its founding members. Meanwhile, Facebook has plans to further the association to reach at least 100 members by the estimated launching time during the first six months of 2020. Latest Novi Launch Resolution As it stands now, the social media magnet Facebook may go ahead with the Novi launching without Diem says Marcus as a fallback plan. However, for Diem to succeed, both of them are required, he added. In June 2019, Facebook broadcasted a white paper for the then-named Libra. The original plan was to stick numerous fiat currencies with this digital currency, including the US, Singapore, British pounds, Japanese yen, and the euro. Related Reading | PayPal To Facilitate UK Customers With Cryptocurrency Trading Feature However, because of the pushbacks from global regulations, Libra Association finds it difficult to the stablecoin since then. Eventually, the digital currency is currently rebranded to Diem Association. Also, the digital currency is redesigned to be stuck majorly on the United States dollar. In addition, the United States government will regulate it. Featured Image From Pixabay

“The Market Report” with Cointelegraph kicked off at 4:00 pm UTC on Thursday. Find out what our analysts think about the BTC bull market and where we could be headed in the short- to medium-term.