Crypto Platform Celsius Network Reaches $4.25 Billion in Total Loans

Cryptocurrency platform Celsius Network announced that it reached $4.25 billion in total crypto loan origination as of Nov. 12 in a press release shared with Cointelegraph. Celsius reached $4.25 billion of cryptocurrency loans since the start of its activity in July 2018 calculated at current Bitcoin (BTC) prices, a 93% increase from the $2.2 billion reported on Aug. 1, 2019. A fast-growing lending network The company also claims $450 million in customer deposits and collateral from loans under management, which represents a 50% increase from $300 million on Aug. 1…

Will Stellar’s 55 Billion XLM Burn Trigger a New Bull Cycle?

On Nov.4 Stellar Lumens announced the completion of a 50% token burn of their total supply. This led to the destruction of 55 billion (XLM) tokens and the Stellar Development Foundation explained that the token burn was designed to provoke efficiency within the Stellar ecosystem. Crypto market data daily view. Source: Coin360 The price of XLM surged 25% after the announcement this triggered the market to become bullish on the altcoin. Given that a growing number of altcoins are beginning to produce noticeable returns, an analysis of the technical aspects…

Stellar Burns Over 55 Billion Tokens Worth $4.7 Billion USD

The Stellar Development Foundation (SDF) announced a new mandate today for its network’s development, stating that it has burned over 55 billion Stellar Lumens (XLM) tokens.  According to a Medium post on Nov. 4, the development foundation drastically reduced the number of tokens in existence as part of an effort to become more efficient as it moves forward.  Of the over 85 billion tokens that were earmarked for SDF operations, giveaway programs and partnership programs, the SDF burned over 55 billion.  At a current price of $0.085 per token, the…

China’s $3.6 Billion WTO Case Win Against the U.S. Is Nothing More Than a Sideshow

The World Trade Organization’s recent ruling in favor of China against the United States will barely make a ripple in the trade-war debate. | Image: REUTERS/Denis Balibouse/File Photo The World Trade Organization (WTO) allowed China to collect $3.6 billion in tariffs against the United States. The trade war has become so big that the retaliatory tariffs won’t add any layer of tension. The stock market is very likely to consider this development as noise. On Friday, the World Trade Organization (WTO) granted China permission to impose $3.6 billion in punitive…

Coinbase Generated Nearly $2 Billion in Trading Fees Since 2012

At Vanity Fair’s New Establishment Summit, Coinbase CEO Brian Armstrong said that Coinbase has generated close to $2 billion in trading fees since it launched in 2012. On Oct. 23, the co-founder and CEO of major United States cryptocurrency exchange and wallet provider Coinbase told Vanity Fair that technology has always been the focus of Coinbase, which, in part, is the reason why the company has remained profitable.  Coinbase has been profitable since 2017 and has generated close to $2 billion in trading commissions since the company launched back in…

Coinbase Generated Nearly $2 Billion in Transaction Fees Since 2012

At Vanity Fair’s New Establishment Summit, Coinbase CEO Brian Armstrong said that Coinbase has generated close to $2 billion in transaction fees since it launched in 2012. On Oct. 23, the co-founder and CEO of major United States cryptocurrency exchange and wallet provider Coinbase told Vanity Fair that technology has always been the focus of Coinbase, which, in part, is the reason why the company has remained profitable.  Coinbase has been profitable since 2017 and has generated close to $2 billion in transaction fees since the company launched back in…

Algorand Wins Sharia Compliance Certificate to Enter $70 Billion Market

Algorand has been certified as sharia-compliant, the company said Monday. The certification was provided by Bahrain-based Shariya Review Bureau (SRB) and indicates that the Algorand platform adheres to the tenants of Islamic law. It could open up the platform and its features to a global network of observant Islamic investors estimated to be worth more than $70 billion, according to a 2017 study by Malaysia International Islamic Financial Center. “Our vision at Algorand has always been inclusivity,” Algorand CEO Steve Kokinos said in a statement. “I am excited that forward-thinking…

US SEC Deems $1.7 Billion Telegram Offering Illegal, Orders Halt

The United States Securities and Exchange Commission (SEC) has announced that Telegram and the forthcoming GRM token constitute an unregistered digital token offering. Per an Oct. 11 press release, the SEC has filed an emergency action and restraining order against Telegram and the Telegram Open Network (TON) in a complaint with Manhattan court. The allegations The full complaint alleges that Telegram and TON did not register their sale of GRM tokens, which the SEC considers securities and which, therefore, require registration with the SEC according to the Securities Act of…

Security Token Firm Taps German Developer’s $7 Billion Property Pipeline

Blockchain firm Fundament has landed German real estate giant Bauwens as a strategic investor with $7.35 billion of projects to jumpstart its asset tokenization business. Fundament CEO Thomas Ermel told CoinDesk that Bauwens acquired 15 percent stake of the firm in cash in September after beginning negotiations for a partnership in May. Founded in 2017, the Berlin-based blockchain firm issues security tokens on ethereum blockchain to raise money for real estate development. The company’s $280 million real estate bond token sale opens for both institutional and retail investors on Oct.8. The…

Nearly $10 Billion in BTC Is Held in Wallets of 8 Crypto Exchanges

Almost 7% of the entire circulating supply of Bitcoin (BTC) is held in the wallets of eight major cryptocurrency exchanges, according to Twitter account The Token Analyst. “Exchanges are the biggest HODLers” On Oct. 8, the Token Analyst wrote that, throughout Bitcoin’s history, the amount of the world’s most popular crypto coins on exchange wallets has consistently been increasing. The Twitter account, which provides real-time and historical blockchain data, estimated close to 1.2 million coins is currently held in the wallets of eight major exchanges — with the Token Analyst describing…