News of the Week

Facebook Services Shutdown Shows Why Libra Cryptocurrency Puts Personal Privacy at Risk

A massive outage on Facebook and Instagram revealed hidden “tags” given to users photos on the popular social media platforms – tags that are used by the company to market to its users. It also may have revealed how their Libra cryptocurrency will become a Trojan Horse into user data. It’s to no surprise that Facebook aggregates user data and likely knows more about an individual than anyone would truly be comfortable with, but the recent issue highlights how Facebook would use transactional data of Libra usage – the company’s upcoming fiat-based cryptocurrency project – to invade the privacy of their users and market to them with chilling accuracy.

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Canadian Startup Plans to Upgrade Millions of ATMs to Sell Bitcoin

Canadian exchange Coinsquare has acquired software allowing traditional ATMs to sell cryptocurrency such as bitcoin (BTC). Coinsquare announced a controlling investment in Just Cash, a United States-based fintech startup that has developed a software that allows users to purchase crypto directly through traditional ATM machines without the need of additional hardware or mobile application. Coinsquare CEO Cole Diamond says that the new initiative reflects the company’s mission of bringing mainstream adoption to the crypto industry. According to Diamond, enabling crypto purchases through ATMs will make cryptocurrency “finally reach the masses.”

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Dogecoin Price Surges 37% Following Binance Listing Announcement

The price of the popular Dogecoin cryptocurrency is surging after the announcement that it will soon be listed on the Binance exchange. The exchange will at launch offer trading pairs for DOGE against Binance coin and Bitcoin, as well as the stablecoins tether, Paxos standard and USD Coin. Users can already deposit DOGE in preparation for trading.

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BTG Pactual Bank to Sell $1 Billion in STOs Using Tezos

Latin America’s biggest investment bank, BTG Pactual, plans to shift its security token offerings, a pipeline of over $1 billion in sales, onto the Tezos blockchain. The new initiative is a collaboration between BTG Pactual and Dubai-based asset manager Dalma Capital, who plan to tokenize a number of traditional assets using the Tezos blockchain and smart contracts platform. According to the announcement, Dalma Capital is planning to use the Tezos blockchain for digitizing assets in multiple industries, including real estate, equity, lending, as well as global sports clubs. Meanwhile, BTG Pactual intends to boost its expertise in tokenization, which includes the ongoing ReitBZ STO, based on Ethereum blockchain.

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Major Chinese Financial News Provider Adds Crypto Index

Sina Finance, a finance-focused website owned by China’s major tech company Sina Corp, has added crypto index into its mobile app. The new index on China’s major financial news channel provides data on prices and performance of major cryptocurrencies such as bitcoin, bitcoin cash, litecoin, XRP, and ether, according to a mobile app screenshot provided by Cnledger.

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Gram Asia to Sell Telegram Tokens at Three Times ICO Price

South Korea’s Gram Asia is selling rights to its Gram holdings at $4.00 per token starting July 10. The proposed sale price is triple the original $1.33 sale price at Gram’s second initial coin offering (ICO) round in March 2018. The sale on July 10 is apparently happening exclusively through Japanese cryptocurrency exchange Liquid, as per its website. Liquid also hosted the Gram ICO in March, at which time Telegram raised $850 million, bringing its total valuation up to $1.7 billion.

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Prominent Investor: Mainstream Finance is Now Considering Bitcoin as a Safe Haven Asset

Over the last month as trade tensions between the United States and China heat up, adding pressure to an already delicate global economic fabric, both gold and Bitcoin have began to take off and rally. However, it’s not just gold and Bitcoin, it’s actually other safe haven assets such as Swiss francs or the Japanese yen as well – two foreign exchange currencies that often are looked to for their stability. It’s caused one prominent investor to suggest that mainstream finance is finally starting to look at Bitcoin in the same light – as a potential safe haven asset during times of economic turmoil, joining the ranks of many other assets that are often used as a flight to safety.

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