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Paxful CEO Ray Youssef Shows How Bitcoin Can Be Used for Social Good

Can bitcoin be used for social good? If anyone thinks so, it’s Ray Youssef, the CEO of peer-to-peer bitcoin platform Paxful. A successful entrepreneur in the crypto and blockchain space, Youssef comes from humble beginnings and understands the importance of maintaining control over one’s finances. Marred by memories of homelessness and extreme monetary strain, Youssef’s journey to build Paxful was ...

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Japanese SBI Set to Launch Ripple-Based Mobile App

Japanese Fintech heavyweight SBI Holdings plans to launch a Ripple-powered mobile payment application called MoneyTap. In a tweet shared with his followers, Takashi Okita, CEO of SBI Ripple Asia shared the web page of the new payment application, which promises to offer “easy bank transfer application” without fees. The exact launch date for the mobile app is uncertain, but the ...

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Lightning Labs Releases Redesigned and Optimized Desktop App

An alpha version of the new Lightning desktop app has been released. The application includes a redesigned and optimized backend for light clients, as well as a simplified interface for users with little to no cryptocurrency experience. Lead application developer at Lightning Labs Tankred Hase joined the company in January 2018 and was assigned to oversee the app’s redesign. Speaking ...

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Battle of the Privacycoins: Why Monero Is Hard to Beat (and Hard to Scale)

Based on blockchain technology, most cryptocurrencies have an open and public ledger. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited. Government agencies, analytics companies and other interested parties — let’s call them “spies” — have ways to analyze the public blockchains and peer-to-peer networks of cryptocurrencies like Bitcoin, ...

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Morgan Stanley Eyes Bitcoin Swap Contracts Tied to Futures Prices

Morgan Stanley is joining Wall Street’s race toward an institutional-friendly bitcoin derivative. According to anonymous sources reporting to Bloomberg, the financial institution is devising price return swaps tied to bitcoin. These derivatives would allow investors to indirectly invest in the market’s flagship currency, allotting them the option to buy into long or short positions through the contracts. Taking their prices ...

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Huobi Enters Japanese Market With BitTrade Acquisition

Huobi Japan Holding Ltd. has acquired a majority stake in Japanese cryptocurrency exchange BitTrade, marking the top-three exchange’s formal entry into the Japanese market. BitTrade, which is one of the 16 government-approved crypto exchanges in the country, announced the news yesterday, September 12, 2018. Japan’s Financial Services Agency (FSA) began issuing exchange operating licenses in 2017, but in light of ...

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BitGo Gets Approval From State Regulators to Launch Custody Service

BitGo has received the green light from the South Dakota Division of Banking to act as a qualified custodian for digital assets, according to a Business Wire press release. The approval means the BitGo Trust Company can now offer secure storage for digital assets “designed for institutional customers,” Chief Compliance Officer Shahla Ali told Bitcoin Magazine. “Built on BitGo’s multisignature ...

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Berkeley Professor Questions Stablecoin Viability in Unflattering Op-Ed

University of Berkeley Professor Barry Eichengreen has taken a swipe at the viability of stablecoins in an op-ed published on Project Syndicate. The critique, entitled “The Stable-Coin Myth,” argues stablecoins are not automatically “viable” just because they are pegged to an asset, though Eichengreen does believe they have an advantage over “conventional cryptocurrencies” such as bitcoin which he says “is ...

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Mt. Gox Opens Rehabilitation Filing System to Corporate Clients

Corporate customers tangled up in the aftermath of Mt. Gox’s historic hack can finally file for reparations. The now-defunct Japanese bitcoin exchange opened up its claim filing system to corporate users this Wednesday, September 12, 2018. Previously, the system was open only to non-corporate individuals as of August 23, 2018, but with today’s announcement, any entity that lost funds to ...

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Federal Judge Applies Long-Established Securities Law to ICOs

Does a decades-old securities law apply to an initial coin offering (ICO)? In a case that represents the first time securities laws have been applied to cryptocurrencies, a district judge says it may. On September 11, 2018, in a district courthouse in Brooklyn, New York, Judge Raymond Dearie ruled that two ICOs were securities, based on established laws that govern ...

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