Jeremy Allaire’s Circle the Latest to Distance Itself from Facebook’s Libra

Jeremy Allaire’s Circle issued a U.S. dollar-backed stablecoin before stablecoins were cool. Now that Facebook has joined the fray with its Libra coin, which is designed to be backed by a basket of fiat currencies (and maybe other financial instruments), the spotlight on stablecoins has grown brighter. But Allaire, who is testifying in front of …

CCN is Shutting Down after Google’s June 2019 Core Update

Dear readers, Let’s get straight to it. Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight. Our traffic has experienced a massive impact by Google’s June 2019 Core Update. Image from Sistrix.com.   CCN’s visibility index on Sistrix.com shows how …

Facebook Unexpectedly Plants Its Flag in Crypto-Friendly Switzerland

By CCN: Facebook has reportedly set up a fintech company dubbed Libra Networks in Switzerland. The move clearly correlates with the social media giant’s Project Libra. According to Reuters, the focus of the fintech is on the blockchain, payments, data analytics, and investing. Libra Networks, which was registered in Geneva on May 2, will provide …

Paxos Standard Hassling Ethereum Traders Trying to Redeem Stablecoin PAX for Dollars

The source for this article wishes to remain anonymous. He is one of multiple sources this reporter has spoken to recently. All of them are relatively large-scale traders who have used Paxos Standard. They are a group of five traders. They trade in the millions of dollars per week via multiple exchanges including Binance and …

Crypto Industry is Betting Big on the Future of Stablecoins

TUSD Symbol When merchants started introducing bitcoin and similar digital currencies as one of their payment methods, they quickly encountered a significant problem: price volatility. There were instances like a luxury item dealership, which used to accept bitcoins for their products but saw the value their Ferrari cars jump by almost 33% during a test run. …

Tether Briefly Enters Top Four Cryptocurrencies, EOS Spikes by 21%

For a short time yesterday, the Tether stablecoin (USDT) hit 4th place by market capitalization in the cryptocurrency charts. Today Bitcoin (BTC) and other altcoins are showing green. EOS is back in 4th place with a sudden 21% hike, and Stellar (XLM) is now in 5th place with a near 9% price increase. At one …