Connect with us

Blockchain

Former Ripple advisor set to become Comptroller of the Currency: WSJ

Republished by Plato

Published

on

According to the Wall Street Journal, a former member of Ripple’s board of advisors directors is likely to become the next Comptroller of the Currency.

The report cites insiders “familiar with the matter” who expect President Biden to nominate former Treasury Department official, Michael Barr, to the top post overseeing national banks.

The position as Comptroller of the Currency serves as the administrator of the federal banking system, and is the chief officer of the Office of the Comptroller of the Currency (OCC). The WSJ described it as one of the most powerful banking regulators:

“The comptroller oversees hundreds of bank supervisors stationed inside large U.S. financial firms, making the person in the job one of the most powerful bank regulators.”

The official decision is yet to be finalized and the WSJ was unable to verify the story with comments from the White House, the Treasury Department, or Barr himself.

If approved, Michael Barr would be the second appointee with cryptocurrency experience in the position following former Coinbase executive Brian Brooks, who stepped down last week after eight months as the Trump administration’s acting comptroller.

Barr was appointed as a member of the Advisory Board of Ripple Labs in 2015. At the time he was keen to foster innovation in the payments sector, stating;

“Our global payments system is badly outdated. I think innovation in payments can help make the financial system safer, reduce cost, and improve access and efficiency for consumers and businesses alike.”

President Biden’s team also considered law professor at the University of California, Mehrsa Baradaran, for the position.

The Biden administration has also tapped crypto-knowledgable Gary Gensler as the most likely candidate to head the Securities and Exchange Commission. The former Chairman of the Commodity Futures Trading Commission is known to be more positive towards decentralization and financial digitization than the previous inhabitant in the role.

Source: https://cointelegraph.com/news/former-ripple-advisor-set-to-become-comptroller-of-the-currency-wsj

Blockchain

Tether Gets 500 BTC Ransom: Sender Threats to Leak Harmful Documents

Republished by Plato

Published

on

Tether, the company issuing the most widely-used stablecoin, USDT, has revealed that it got a ransom demand for 500 BTC. The sender has threatened the company to leak documents to the public that would “harm the bitcoin ecosystem.”

Tether Gets a 500 BTC Ransom Demand

Tether, the issuer of the popular USDT stablecoin, took it to Twitter to reveal that someone had threatened to leak documents to the public in an attempt to “harm the bitcoin ecosystem.”

The company explained that “forged documents are circulating online purporting to be between Tether personnel and reps of Deltec Bank & Trust and others. The documents are bogus.”

Furthermore, Tether explained that they’ve also received a ransom demanding 500 BTC, which is currently worth around $23.6 million. They also revealed that unless the ransom is paid, the sender would “leak documents to the public in an effort to harm the bitcoin ecosystem.” Also, Tether has no intention of paying the money.

What Now?

At the time of this writing, there’s no further information on what’s going to happen next.

It is unclear whether this is a basic extortion scheme like those directed at other crypto companies or people looking to undermine Tether and the crypto community as a whole. Either way, those seeking to harm Tether are getting increasingly desperate.

The company also said that the “forged communications and the associated ransom demand” were reported to law enforcement.

Interestingly enough, all of this comes about a week after Tether and Bitfinex reached a settlement with the office of the New York Attorney General, putting an end to a year-long lawsuit that many thought could really harm the ecosystem. Nevertheless, the company admitted to no wrongdoings and agreed to pay an $18.5 million fine.

However, as part of the settlement deal, the company has also agreed to no longer be able to deal with customers from New York.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/tether-gets-500-btc-ransom-sender-threats-to-leak-harmful-documents/

Continue Reading

Blockchain

Litecoin Price Analysis: 01 March

Republished by Plato

Published

on

The cryptocurrency market has been moving in a wave-like fashion with continuous crests and troughs. The market has been seeing spurts of growth in the price, but it did not trigger a price swing. Litecoin [LTC], also witnessed such a push in its price recently, but at the time of writing, the coin continued to move within a tight range.

The digital asset has a market capitalization of $10.99 billion and was being traded at $163.94.

Litecoin 1-hour chart

Source: LTCUSD on TradingView

The above chart of Litecoin has been noting the price consolidation between $155 and $181. Before the drop to this level, LTC was trading between $169 and $181 for a while. However, sudden selling pressure pushed it to this new price level.

This could mean that the LTC market may further this phase of consolidation as momentum in the Bitcoin market also noted a similar trend.

Reasoning

The Bitcoin market has been pushing the price of most altcoins in the market. Now that, the digital asset moves sideways after a little pump, the alts are also showing signs of consolidation.

Litecoin has shown that the volatility in its market has comparatively decreased as the Bollinger Bands converged. Meanwhile, the 50 moving average and signal line were beginning to witness a bearish crossover, which could be just a sign for the price to retrace within the above-mentioned range.

The Relative Strength Index has climbed to equilibrium due to the boost in price. This meant that the buyers and sellers were equal in the market, and hinted towards yet another spell of sideways movement for LTC. Meanwhile, the awesome oscillator noted the lack of momentum in the market.

Conclusion

The current trend prominent in the LTC market was of consolidation between $155 and $169. There has been bearishness evolving in the market, but the price swing may not be visible in the short-term.


Sign Up For Our Newsletter


Source: https://ambcrypto.com/litecoin-price-analysis-01-march

Continue Reading

Blockchain

LetsExchange Launches Crypto Trading Service With Smart Exchange Rates

Republished by Plato

Published

on

LetsExchange Launches Crypto Trading Service With Smart Exchange Rates

Advertisement &  & 

For each trade, LetsExchange instantly selects the best rate across the world’s leading crypto exchanges and lets the trader secure this rate at the beginning of the transaction. 

Cryptocurrency trading can be a very lucrative activity. Because of the price volatility of many coins, the possibilities to make gains through short-term trading are big. Two factors influence the outcome of a trade. First, the trader must buy crypto at the best possible rate. And second, the trader must be able to buy or sell the crypto assets without delays.

The LetsExchange platform has been designed to maximize traders’ gains by facilitating the two factors mentioned above. With the use of this service, traders can get the most profitable exchange rate available on the market at a given moment. What’s more, the platform ensures that the said rate remains unchanged until the trade is completed.

This newly launched service also eliminates delays in the processing of transactions by waiving registration, KYC screening, and other authentication and authorization procedures. The platform’s founders elaborate on these features that allow traders to maximize their gains:

  • The registration process and KYC authentication are time-consuming. Traders usually cannot afford to waste much time in such procedures as the cryptocurrency market is volatile, and exchange rates may change significantly within a few minutes. With LetsExchange, traders can benefit from these fluctuations by buying and selling cryptocurrencies as soon as they decide, without hassle and delays.
  • LetsExchange works with the world’s top crypto exchanges including Binance, Okex, KuCoin, Gate, Huobi, and more. By using its SmartRate technology, the platform always offers the most profitable rate across all the exchanges. In this way, traders won’t waste time in comparing rates and researching the market status at a given moment.
  • This platform offers the possibility to secure the most profitable exchange rate by selecting the Fixed Rates option. This feature will maintain the said rate unchanged until the completion of the trade. But if a trader prefers to forecast the rate fluctuations in a bid to maximize their gain, the floating rates option allows doing it. Each trader has the freedom to choose the most convenient strategy.
  • Thanks to the use of fully automated exchange algorithms, the only delay in the processing time of a transaction depends on the network speed of the selected cryptocurrency. During Beta testing of the platform, the average transaction time was 25 seconds.

The LetsExhange platform at https://letsexchange.io is now ready to help traders maximize their gains by guaranteeing the best rates and eliminating unnecessary delays.

Advertisement &  & 

About LetsExchange

LetsExchange is a one-stop multicurrency exchange service free of registration, limits, and complications. It supports 210+ coins, about 45,000 currency pairs and automatically selects the best rate across all major crypto exchanges for each trade. Built by a team of crypto visionaries with 10+ years of experience in the blockchain space and fintech, LetsExchange saves your time at each step of a crypto swap and amplifies your trading revenue.


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/letsexchange-launches-crypto-trading-service-with-smart-exchange-rates/

Continue Reading
Blockchain4 days ago

Gemini collaborates with The Giving Block and others, adds donations option

Blockchain3 days ago

NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Blockchain5 days ago

Crypto Lending Explained 2021

Blockchain5 days ago

BitMEX adding six new perpetual contacts: ADA, DOT, EOS, YFI, UNI, and XLM

Blockchain4 days ago

What Coinbase Going Public Could Do For Crypto

Blockchain5 days ago

Traditional Banks get serious about enabling crypto-related services

Blockchain3 days ago

Crypto Investment Fund to Sell $750M in Bitcoin for Cardano and Polkadot

Blockchain5 days ago

Trailing Take Profit Explained

Blockchain5 days ago

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Blockchain5 days ago

MicroStrategy Completes Another $1 Billion Bitcoin Buy

Blockchain5 days ago

All of the Federal Reserve’s wire and ACH systems are down

Blockchain3 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain15 hours ago

Google Finance adds dedicated ‘crypto’ tab featuring Bitcoin, Ether, Litecoin

Blockchain5 days ago

Sam Bankman-Fried: The crypto whale who wants to give billions away

Blockchain5 days ago

Craig Wright Sues Bitcoin Developers Over Stolen BTC Worth $5 Billion

Blockchain5 days ago

Tatum helps donation-based betting app Fandona complete its blockchain MVP

Blockchain2 days ago

Economist warns of dystopia if ‘Bitcoin Aristocrats’ become reality

Blockchain5 days ago

ZelaaPayAE deploys Pundi X’s merchant crypto payment solutions for UAE

Blockchain4 days ago

Tezos, IOTA, Dash Price Analysis: 25 February

Blockchain4 days ago

Coinbase public listing filing details 2020 revenue, major a16z stake

Trending