Bundesbank Head Says Don’t Suppress ‘Innovative Concepts’ Like Libra

The head of Germany’s central bank Jens Weidmann spoke in favor of Facebook’s Libra during a recent G7 event. Bundesbank head warns against suppressing innovation Weidmann, Bundesbank President and the Governing Council member of the European Central Bank, argued that global regulators should not suppress the project in its infancy, according to an email newsletter in a shared by eToro senior market analyst Mati Greenspan on July 19. According to the letter, Weidmann reportedly supported the Libra project during a recent G7 meeting, arguing that digital currencies such as Libra…

Bitcoin an ‘Unstoppable Force,’ US Congressman Tells Crypto Hearing

Bitcoin’s (BTC) plight in Congress has seen attention focus mainly on naysayers, but this week’s hearing also saw United States politicians accept it was always beyond their control. ‘Governments cannot stop this innovation’ During testimony on July 17, U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, told lawmakers directly that attempts to stop Bitcoin were futile. “The world that Satoshi Nakamoto, author of the Bitcoin whitepaper envisioned, and others are building, is an unstoppable force,” he said. McHenry runs in sharp contrast to other Congressmen making the headlines…

Tether’s Trouble With New York Attorney General — Will Crypto Cope?

Are Bitfinex and Tether in trouble? Maybe, but the thing is, we don’t know just how much trouble, because the stablecoin issuer has challenged the New York State Office of the Attorney General’s (OAG) case against them. In claims filed in April, Attorney General Letitia James asserted that Bitfinex defrauded its customers, having lost $850 million in client and corporate funds, and then having attempted to cover up this loss by secretly helping itself to around $900 million of Tether’s cash reserves.  Serious charges, but they’re denied by Bitfinex and…

Bitcoin (BTC) Is Up 6% Even As Sellers Eye $7,500

Bitcoin (BTC) resurgence, up 6 percent Altcoins dominance fall Superior, Bitcoin is generally in an uptrend despite early July losses. Presently, resistance lies at $14,000, and if buyers overcome this level, then BTC could soar to $18,000 by close of the year. Bitcoin Price Analysis Fundamentals The altcoin world is turbulent. Even if the general notion is that Bitcoin and altcoin prices are in sync, correlating directly with the former acting as a base in most exchanges, thus far, there is a divergence in performance. Contributing to this difference is…

Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support

Ripple (XRP) is up 2.6 percent Footprints in the Middle East and Southeast Asia highlight Ripple’s advantages SWIFT is dominant, but Ripple’s progress is noticeable. Even though most of their partners use xCurrent, clarity in the future will ease their transition to xRapid. That will drive demand for XRP and therefore prices above the current 20 cents consolidation. Ripple Price Analysis Fundamentals Blockchain companies cannot flourish in isolation. It is even more challenging when the startup is ambitious. As per their statement, Ripple is one such company. Cementing its position…

Ethereum (ETH) Adds 5% But Are Whales Manipulating Prices?

Ethereum (ETH) price is up 5.1 percent Institutions driving demand for Grayscale Investment’s Large Cap Fund According to Grayscale Investments, institutional demand for cryptocurrencies, including ETH is high. Last quarter, their Large Cap Fund rose 178.8 percent. Currently, ETH is stable but vulnerable in a bear breakout pattern. Ethereum Price Analysis Fundamentals Cryptocurrency “detectives” report that this week’s Bitcoin’s drop below the $10,000 round number was because of whales’ rapid accumulation of Ethereum (ETH). As per observers, a single 15,000 ETH buy order did cause a demand shock with the…

WATCH: Former CFTC Advisor Sees ‘Mistrust’ as Libra’s Fatal Flaw

Jeff Bandman, Lecturer in Global Affairs at Yale University, is a advisor at the U.S. Commodity Futures Trading Commission (CFTC) where he spun up LabCFTC. In this chat with CoinDesk’s Pete Rizzo, he talks about “murder boards” and what it took for Facebook’s David Marcus to face off the Federal Government. “After I had started working at the CFTC all of a sudden on my calendar I’d get these invitations and so I go to our Hill liaison and I’d say ‘Corey what are these death-squads that have just appeared…

Consumer Advocates Urge Libra Members to Quit Facebook Crypto

A coalition of consumer advocacy groups has urged the 28 member companies of the Libra Association to quit the Facebook-led cryptocurrency project en masse. “We call upon you as respected members of the business, financial, technology, and civil society communities to collectively withdraw from the Libra project,” says the open letter signed by Open Markets Institute, Public Citizen, Revolving Door Project, and Demand Progress Education Fund. While the advocates said they agree with the Geneva-based consortium’s purported aim to extend financial services to the 1.7 billion global underbanked, they cautioned: “Achieving a laudable goal should…

Privacy Cryptocurrency Zcash Prepares for ‘Friendly’ Fork

In about five hours, the privacy-oriented cryptocurrency Zcash will spawn a new blockchain network called Ycash. It’ll be the first of its kind to boast a near-identical codebase to the Zcash blockchain but function as a separate network and de facto competitor. First announced in April, the effort is spearheaded by long-time Zcash supporter Howard Loo. Loo described in a Zcash forum post that Ycash was a preemptive move to resist future community decisions that may extend Zcash’s system of developer funding known as the “Founder’s Reward” beyond a promised…

Altcoins Back on the Rise With Litecoin Leading the Charge

The crypto markets are once again back on the rise with litecoin (LTC) leading the way in the top 10 cryptocurrencies at CoinMarketCap. The price of bitcoin (BTC) jumped by more than $1,000 in the expanse of 30 minutes yesterday, with the rest of the market following suit, rising between 5-20 percent, while Litecoin (LTC) outperformed all other top 10 crypto by market capitalization. LTC is up 13 percent over a 24-hour period and is currently changing hands just above the $100 resistance at $100.72. Top 10 at CoinMarketCap For now,…