Ripple has sold $15M of its stock in MoneyGram

Ripple Labs has sold a huge chunk of its 2019 investment in MoneyGram.  Per a Friday night filing with the Securities and Exchange Commission on Friday night, from Nov. 27 through Dec. 4, Ripple Labs managed to sell 2,264,113 shares of MoneyGram (MGI). The tech firm netted a total of $15,303,792.60 from the sales. MoneyGram’s stock value has soared in recent months, from $2.94 on Oct. 1 to $8.53 on Nov. 23. In no small part thanks to news of Ripple’s sell-off, MGI has slipped back down to $6.54 as of…

Bitcoin price rally at risk as gold and US dollar show signs of recovery

Dan Tapiero, the co-founder of 10T Holdings, said weak hands have been shaken out in the gold market. This raises the probability of a gold rally in the near term, especially as it comes off of an 80-day pullback period. A rally in gold and the dollar may dampen Bitcoin price Bitcoin has seen strong momentum in the past three months, as it achieved an all-time high on Coinbase and a number of other major exchanges. Despite this, the threat of a correction for Bitcoin is a real possibility if…

Solana Turns Back On After Six Hour Outage

Key Takeaways A error in Solana’s mainnet beta prevented block confirmations. The Solana team quickly asked its validators to restart the network. The blockchain was offline for approximately six hours. Share this article Solana, a proof-of-stake blockchain, suffered a six-hour outage today. The issue has been resolved and an explanation is forthcoming. At approximately 1:46pm UTC on Dec. 4th, 2020, the Solana Mainnet Beta cluster stopped producing blocks at slot 53,180,900. The Solana team is actively working with validators to restart the network. No funds are at risk. Live updates…

It’s not about data ownership, it’s about data control, EFF director says

As technology advances, personal data becomes an increasingly relevant topic. Many in the crypto industry hold sovereign finance and data privacy in high regard. Participants’ best efforts may be undermined by centralized businesses and regulating bodies, however, according to Cindy Cohn. Cohn is the executive director at the Electronic Frontier Foundation, or EFF, a nonprofit entity focused on digital rights.  Cohn joined a Web Summit panel on Thursday labeled “Internet: Who owns our data?” Pointing toward the title, she explained: “I actually think that’s the wrong question, I think the question is…

Upcoming Cardano hard fork to introduce ‘token locking’ ahead of Goguen

IOHK, the development arm behind Cardano, recently announced a new hard fork of the protocol scheduled for mid-December.  Kevin Hammond, a software engineer at IOHK, revealed this week that Cardano will undergo a hard fork later this month as part of its transition to the Goguen development era. Although most observers associate hard forks with trauma, Hammond said that these events are handled much differently on Cardano: “[…] Cardano handles hard forks automatically, without stopping block production. This gives a uniquely smooth upgrade process that allows new features to be…

New KYC Rules May Arrive Before Trump Leaves Office

Key Takeaways The blockchain industry is waiting on regulations that will soon be announced by the U.S. Treasury. Acting Comptroller Brian Brooks stated in a CNBC interview that the new regulations will not harm Bitcoin. Brooks suggested that the Treasury will announce good news for the crypto industry by the end of Trump’s term. Share this article The United States’ acting Comptroller of the Currency has stated that new regulations will arrive in the coming weeks. He also affirmed that those rules will not disrupt the blockchain industry. Bitcoin Safe…

DeFi Auction House Bounce Integrates yEarn

Key Takeaways Bounce Finance has integrated YFI as an auction pair and opened a yGift store. Users of the decentralized auction house will be able to buy and sell yGift NFTs with YFI. It’s the latest in a series of extensions from Andre Cronje and the yEarn team. Share this article Popular DeFi protocol, Bounce Finance, which acts as an auction house, lottery, and prediction market, has integrated yEarn and opened up a yGift store.  yEarn Launches NFT Marketplace on Bounce yGift labels itself as an NFT platform “for gifts,…

Coinbase becomes a founding member of Square’s crypto patent group

The Cryptocurrency Open Patent Alliance, or COPA, headed up by finance company Square, recently picked up Coinbase as a cornerstone participant. Square unveiled the group in September as a method of warding off patent overreach — an issue that has been known to limit technological advancement. Coinbase senior counsel and COPA board member Brittany Cuthbert said in a public statement from the alliance on Friday: “As the crypto economy continues to grow, we believe it is important to help empower all projects building towards an open financial system. […] We…

At Last, The SEC Has Launched a Crypto Regulation Desk

Key Takeaways The SEC established FinHub in 2018, and yesterday declared plans to make it a standalone entity. FinHub’s new status will enable the SEC to work more closely with crypto market participants and other regulators. Research shows that institutional investors are more likely to buy Bitcoin under increased regulations. Share this article Since 2018, the FinHub office has been part of the SEC’s Division of Corporation Finance and will become a separate entity. In the past, FinHub has been responsible for understanding new financial technologies and applying relevant regulatory…