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KuCoin gives Tron a boost with the latest trading market addition on platform

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Tron’s development roster is again on the uptrend with KuCoin, a popular cryptocurrency exchange revealing that the organization will be adding the TRX trading market on its platform. The exchange is slated to add the Tron trading market pairs on October 21 at UTC 10:00.

Users on the platform were quite excited with the new trading prospects as shown by DainsGames, a Tron enthusiast who tweeted:

“awesome!  @bituniverse_org hop on this! I need a bot to grow much $TRX! and infinity grids while your at it?”

KuCoin has always been an ardent supporter of Tron, and the latest trading market addition is just one of many features that it has garnered over the past couple of months. At publishing time, Tron was trading for $0.015 with a total market cap of $1.03 billion. TRX held a 24-hour market volume of $632.34 million after a 0.79 percent increase in value during the 24-hour time frame.

Tron was also in the news recently when Justin Sun, the CEO of the Tron Foundation, announced that as per the latest DApp Review report for October 13-October 18 showed that Tron’s trading volume on dApps had exceeded that of Ethereum. Sun’s tweet read:

“According to @dapp_review, the total trading volume of #TRON for the past 7 days reached 68,504,852 #USDT, which is almost 2X as much compared to #ETH (about 35M). #TRON #DApp ecosystem will become more stronger with your participation! Join us both as developer & user! #TRX $TRX”

Further analysis also showed that there was a substantial increase in Tron’s trading volume in a span of just a day. The difference in the volume on the 16th and 17th October was 1,806k USD. Despite holding such a healthy lead in the trading volume, Tron was still behind arch-nemesis Ethereum when it came to the total number of unique users and accounts. The Foundation had tweeted:

“According to Q3 @dapp_com Market Overview-User Analysis, #TRON ranked #2 with the number of 915,894 total unique users, and 3,724,307 #MainNet addresses which is only behind #ETH. We always welcome more developers and users to join the TRON #DApp ecosystem! #TRON onwards!”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Crypto analysts predict Bitcoin halving after the next may be a “bloodbath”

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The May 2020 Bitcoin halving is an event that the entire cryptocurrency community is excited about. The halving is predicted to bring about an increase in prices as mining the world’s largest cryptocurrency will become more difficult while at the same time flushing out the scammers and fraudsters.

In conjunction with this, Eli Afram, a Bitcoin SV developer tweeted:

“Bitcoin mining is getting exponentially more and more difficult. Evidently, some miners have switched off…The upcoming halving is going to be very interesting to watch… and the one after that might just be a blood bath.”

Some users were still confident that the miner count could drop because of some reports claiming that the average Bitcoin price would need to be about $10,000 for miners to be profitable after the cut. TheCrown, a cryptocurrency enthusiast, also tweeted:

“That would mean they were unprofitable at the beginning of the year already. The fact they kept mining at 3k means they could mine after half for 1.5k.”

The current mining difficulty is 13.008 trillion hashes after a steady step by step climbing since the start of this year. The current average Bitcoin block size is 1.01 MB, while the transactions per day hold at a healthy 336,971. The Mempool size, which plays a crucial role in transactions settlement, was at 578,630 bytes.

At press, Bitcoin trades for $8020 after a continuous sideways movement. BTC holds a total market cap of $144.37 billion and a 24-hour market volume of $13.63 billion. Some members of the community have also come forward to warn users of the perils of the Bitcoin world.

Just recently, the head honcho of one of the world’s largest mining pools claimed that Bitcoin needs better privacy to avoid regulatory clampdowns if it were to happen. Kevin Pan, Poolin CEO, had said:

“The real problem with Bitcoin may be privacy. There is no other big question if the privacy issue is solved. What is more troublesome now is if government or law enforcement departments begin to create a blacklist of transaction addresses, it will make certain transactions unable to be packaged.”

Pan continued:

 “In fact, these can be done. But if there is privacy, you can’t know who the address belongs to, and you can’t determine how much the amount is, and there is no way to control the currency system.”

Poolin CEO ended his statement saying,

“So for me, Bitcoin is basically no problem if the issue of privacy can be solved.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Bitcoin volume loses foothold on BitMEX as market tries to stay afloat

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Bitcoin had a great start to the year, but let’s admit it; the recent performance has not been living up to the expectations of holders. This gloomy market weather darkened a bit more when it was discovered that Bitcoin’s weekly volume had dropped by a massive 72 percent in 3 months on BitMEX.

The information came as a shock to many users in the community as they were hoping for good news as the price movement has been steady for the past week. The reason why the volume drop is significant is that it is the largest margin trading platform in the world, and any fluctuation in user behavior there would lead to larger ramifications.

At press time, Bitcoin was trading for $7953.09 after a fall in price made it fall below the $8000 threshold. The world’s largest cryptocurrency held a total market volume of $143.14 billion and a 24-hour trading volume of $14.79 billion, a far cry from its $20-$30 billion days.

AngeloBTC, a trader and investor, spoke about the ongoing predicament by tweeting:

“Patiently waiting for $6k $BTC levels where I will add to long-term holdings.

Good luck homies.”

Technical analysis of Bitcoin’s performance showed that other factors also indicated a bearish atmosphere. The Relative Strength Index was close to the oversold zone, which indicated that a lot of the holders were selling off their assets, expecting an adverse outcome of events.

Bitcoin technical price analysis chart

The Chaikin Money Flow indicator was on the downtrend towards the zero line. This was a sign that the capital coming into the market was reducing as more of it left the market due to the FUD.

The most significant recent price drop occurred on September 24, when a massive sell-off resulted in the BTC price plummeting from $10,004 to $8055. This point was the start of a price and volume tumble that continues to the current day. Davethewaave, a famous cryptocurrency enthusiast, tweeted:

“Blue lines equate to the cyclical mean. Price being much more volatile both below and above the line, so shorter Mas are less significant. A further correction back to the line should NOT be alarming.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Anthony Pompliano goes gaga over Binance’s profits as CZ takes notice

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The digital asset market’s forward march has resulted in a lot of users affirming their belief that the industry is here to stay for good. This excitement was reflected in Anthony Pompliano’s latest tweet, in which he said:

“Binance has made $1 billion in cumulative profit in less than 3 years since inception??Damn @cz_binance slow down and leave some of the profits for everyone else!!”

The figures were based on recent analysis, which put Binance front and center when it came to gross profits and successful trades. Changpeng Zhao, the Chief Executive Officer of Binance, took no time in replying to Pomp, tweeting that the company will be reinvesting a majority of the profits. crypto_revolutionary, popular Twitteratti, replied to CZ. Asking:

“Please feel free to reinvest some in me, then I’ll have a bit more to trade with on Binance, helping to secure the future of your business. No thanks needed.”

The user community was confident that the profits would only increase in the future as there were many people left to join the crypto world along with the added influx of capital. Binance has been enjoying a great 2019, with profits adding totally to a whopping $1 billion. While at the same time, the price of BNB has not reflected the increase in profits CZ even commented on the phenomenon saying:

“We believe BNB has grown beyond the point of depending on reducing supply (such as the BNB burn) to increase value. A far bigger portion of BNB value comes from its utility. We prioritize increasing the utility of BNB over short-term profits for Binance,” he said, later adding that “even with all the above progress and results, the BNB price declined from its [all time high] near the beginning of the quarter.”

The CEO added that the fall in prices could be associated with the FUD in the crypto community. At the same time, Zhao was confident that BNB had outshone the significant players, surpassing user expectations at the same time. He concluded:

“Markets often confuse people, even me sometimes. We still have very much strive to be the financial infrastructure provider for tomorrow, and work hard to bring the freedom of money to the masses.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Massive amounts of Bitcoin moved to Binance as BTC price falls below 8k

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The condition of the Bitcoin market has been fluctuating, to say the least, from holding bullish highs to crashing into bearish lows, the cryptocurrency has been through it all during the past couple of weeks.

But despite the dynamic shifts, the Bitcoin transfer market was still going strong with new reports coming in that 10,000 BTC was transferred from an unknown wallet to Binance, the world’s largest cryptocurrency exchange.

Some users in the space speculated that it could have been a dump, with DR Hyper, a Bitcoin enthusiast commenting:

“More likely a dump, let pull this beast down to 5k, weekly boiling band about to squeeze down, within amount BTC easy open band and push further down. Alts is is due for correction, ppl with no brain still hyper xrp, expect will be back to 0.22, a double buttom to confirm.”

The fund transfer took place at 21:13 UTC on October 17 with a hash of 320c1d247867f36758ba5df644ffa96deed09c4e2c0857f80886c9549fa61bab. The unknown wallet that acted as the sender had an address of 1ntb2HjiFBJEZKbWVGVj9kUt2T98oFupS while the receiver Binance wallet had an address of 19JyAkHKh36sFduqK4hMsMZhU6ZDoLotW.

Post the transfer, some members of the Bitcoin community began speculating that the wallet might have belonged to Tim Draper, with one user speculating:

“Someone said this might be Tim Draper’s wallet…. seized  assets he bought. If that is so, then what might Mr Draper care to do with that?

10000 BTC @ $8000 = $80 000 000

$80 million x 3.3 XRP =264 million ($264 000 000) XRP Market buy on Binance”

While the transfer market was abuzz with movement, Bitcoin suffered another hit when the price tumbled below the $8000 mark. Users were concerned that the price fall was occurring near the Bitcoin halving, which was speculated to have a positive impact on Bitcoin’s price.

At press time, Bitcoin was trading for $7936 with a total market cap of $142.848 billion. The hourly spikes were the only greens on the chart as the 24-hour market volume held at $15.32 billion.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Craig Wright claims Tone Vays does not understand Bitcoin as the battle between two heats up

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The cryptocurrency space is known for its feuds, be it between founders or between rival cryptocurrency organization bigwigs. A popular ongoing spat is between Craig Wright, the chief scientist at nChain and Tone Vays, a famous cryptocurrency trader and analyst.

They took the stage at a debate recently where Craig Wright claimed that Tone Vays did not understand Bitcoin and its infrastructure. The Bitcoin SV proponent continued to state that traders like Vays predict it wrong and do not know the technicalities involved in the digital asset world. He also said:

“I am the cause of all this and no I am sorry, Tone but you didn’t write the whit paper, so you didn’t understand the whitepaper. The whitepaper clearly states that miners are the ones that enforce rule and people like Tone will be annoyed with that.”

Aside from passing snide remarks, Wright went on to add that he knew of the inner workings of the Bitcoin blockchain and that there was a lot left in store for 2020. In his words:

“I will give all of you a prediction. In 2020, Bitcoin will be seized by the government and miners will help them. Because in such a setting only nodes are miners and miners are the examples of those nodes. The process will be undertaken with the help of three massive Chinese miners. Just wait and watch.”

Tone Vays was also in the news recently when he opined that Ethereum is useless, and Bitcoin could be heading for the $100k mark by 2023. When it came to the short term cryptocurrency climate, Vays said:

“I think we are headed for the low $7,000 area but if that area cannot reverse the price quickly and we consolidate there the way we are now doing in the low $8,000s then $5,000 becomes a reasonable and likely target.”

He was also of the opinion that Bitcoin could still fall to a yearly low as the market looked very volatile.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Million worth of Ripple coins moved as XRP tries to break out of bear’s shackles

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Ripple seems to be making waves in the cryptocurrency space again as Whale Alert; the popular cryptocurrency data aggregator revealed that over 30 million XRP was transferred from Ripple to Ripple OTC distribution wallet.

The transfer amounted to a massive 8.914 million which made it one of the single largest transfers of the day. The timestamp of the transfer corresponded to October 17 20:16 UTC with a hash of 048102075E2B594D973947B41629874C73C852E96A4007E968A82C3CA8443E26.

The source for the transfer was at rBg2FuZT91C52Nny68houguJ4vt5x1o91m. Ripple has always prided on being the companies that levy minimal transfer fee, and the latest transfer was an example of that. The 30 million XRP transfer only incurred an XRPL fee of 0.006197 XRP, which was equivalent to 6197 drops.

The receiving OTC distribution wallet had a balance of 21.83 million XRP, out of which 105 were reserved. The distribution wallet also contained $86,923 and 80.67 pounds. Some users in the space were speculative of the transfer with CryptoDim, a crypto user tweeting:

“Xrp dumping again as soon as price rises right, tell me I am wrong BTC maximists.”

Ripple had another reason to be happy, too, as the organization confirmed that the Bank of America was a customer that has been testing XRPL Based products. Ripple’s spokesperson had said:

“Bank of America has been part of Ripple’s Global Payment Steering Group since 2016 and we did a pilot with them.”

This came after the bank, at the start of October, had posted a vacancy for a team lead to run a Ripple project, and the new confirmation is only more reliable information. Bank of America has seemingly tested out Ripple’s xCurrent transfer system and not the cryptocurrency, XRP in itself.  Some of Ripple’s other mainstay partners include American Express, Santander, and PnC.

While a massive amount of XRP was transferred, the price of native Ripple cryptocurrency does not seem to have moved as the cryptocurrency was still trading for $0.29. The total market cap for the cryptocurrency was $12.57 billion, while the 24-hour market volume was $1.92 billion.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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An exclusive interview with Mazer Gaming and Gokhshtein eSports Division founders

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Tron Weekly Journal had an exclusive interview with the founders of two exciting eSports industry key players Mazer Gaming and Gokhshtein eSports Division. A couple of notable highlights from the answers provided by the founders we interviewed include: eSports is the next evolution in league sports and a future category in the Olympics, and eSports needs blockchain to improve on itself.

Undoubtedly, eSports is disrupting the entire sports and gaming sector quickly. We have seen eSports platforms that in no time grown in popularity, and now, another elephant has entered the house already, Mazer Gaming. Mazer is a professional entertainment and gaming organization.

As such, another new (but very promising) player that has joined the eSports race is Gokhshtein eSports Division, an eSports body of Gokhshtein Lifestyle and Crypto Magazine. David Gokhshtein, a famous cryptocurrency industry influencer and a Forbes’ contributing writer is the founder of Gokhshtein.

Now, it seems Mazer Gaming is all set to take control of the eSports industry at full. Why? We hear you ask. That’s because Mazer Gaming has partnered with Gokhshtein eSports Division alongside bringing David Gokhshtein (Gokhshtein owner) on board as their new CMO.

Today, we got lucky enough to be able to conduct an exclusive interview with the founders of both Mazer Gaming and Gokhshtein eSports Division amid their partnership. Both will be telling us about themselves, their ventures, why they partnered, and much more in this interview!

We start with David Gokhshtein, and then comes Mazer Gaming co-founder Sam Kijak.

Interview with Mazer Gaming’s new CMO David Gokhshtein

Can you tell us a little bit about your background and experience?

David Gokhshtein Forbes Finance Council
Image Credit: Forbes

I have worked in finance and sales for almost two decades. It comes naturally to me coming from two entrepreneurial parents. I’ve always been a team leader, and I enjoy educating and helping others. That’s how it ended up where I am today.

How did you meet with crypto and blockchain?

Through my family. My mother is pretty tech-savvy, and my uncle is a computer guy. One day they were talking about crypto and technology. I was fascinated! After that, I learned everything I could.

Tell us about how you came up with the idea of the to develop Gokhshtein’s esports division.

My nephews inspired me to pursue an Esports division. They’re always talking about the next game to be released, codes and hacks, and who can beat who. I wanted to bring something, build something that they could get excited about, too.

What do you think the eSports industry going?

Up. Esports is going to be huge. The next evolution in league sports and a future category in the Olympics. Sports won’t be relegated to a grassy field, pool, or court. Not anymore.

In your opinion, what would be the most significant challenges when working on eSports projects?

The same challenges will be found in Esports that are found in traditional league gaming. Finding Sponsorships, competing to be the best, and building a community of followers will all be crucial to the success of the league.

Apart from partnering with Mazer Gaming, you’ve been appointed as the new CMO. Many would love to know why you chose only the Mazer Gaming. What can we expect in the future?

I like building things up. Lots of people reached out to me regarding the future of Egaming with Gokhshtein Media and our Esports division. I chose to focus on a single team, one that I believe is groundbreaking in the industry, so that our efforts could be concentrated towards success. No one can predict the future, but I can say that I’m aiming for our team to be the best.

What role do you think the blockchain will (or can) play in eSports in the time ahead? As such, how will the blockchain change the eSports industry?

The challenge to the blockchain will always be mass user awareness. Until we can build new infrastructure in the old way of doing things, people are going to struggle to adjust to this new technology. For Esports, the technology is excellent for gamer’s smart contracts, in gameplay, and keeping a ledger of unarguable gaming statistics.

What imminent activities you’ve in mind to do as the new CMO of Mazer Gaming? Please share any new ideas you’ve for the new ally and company of yours.

My primary goal, at this moment, is to help the team grow. That will be through sponsorships, competition opportunities, and building relationships in the Esports community. There’s so much potential here. I hate even to presume to say where the best place to start would be because I don’t want to limit any of our opportunities.

What advice do you have for folks willing to follow your footsteps and become an eSports advisor or CMO?

Dream big! You won’t get anywhere without action and big ideas. If you like something, find out more about it, get involved, and don’t limit yourself with cants.

Interview with Mazer Gaming Co-founder Sam Kijak

Please tell us about your background, and how did you get into eSports.

I originally started in 2014 with graphic design, where I was able to find work through the gaming community. Eventually, I got a lot more involved and decided to start Mazer Gaming as a content group posting videos to YouTube and then eventually expanding into esports and getting to where we are today.

Tell us about how you came up with the idea of Mazer Gaming.

It’s a hilarious story. We had the original “M” logo (which you can now find hidden in the Tiger’s mouth in our current logo) made before we actually had the name. So I was looking for and listing off random words that started with that letter. Eventually, Mazer stuck, and once we released our new branding in 2017, we changed it to Mazer Gaming.

eSports has changed so much since the late ’90s if I’m not wrong. So, where do you see the eSports industry in the next five years?

I mean, it’s going to be huge. We were just recently featured on the TBS Network for the Gears of War Invitational in August. It’s no longer just a small industry; it’s mainstream. You can watch the Overwatch League on TV. There are esports arenas all across the world and a lot more professional stadiums being built; it’s no joke at all. This industry is going to keep rising and becoming one of the biggest sports in the world.

In your experience, which have been the most significant challenges when working on an eSports project?

It’s really been the funding. I’d love to have a million-dollar budget to work with. We have so many ideas and esports titles we want to expand into, but the funding isn’t there yet. We expect to add some new sponsors by the end of this year, so definitely be on the lookout for more teams and events Mazer might be at.

How do you feel about the current Mazer Gaming roster, and when you guys started trialing these players as an effort to build your roster up?

Every single person and the team works hard. Since we first originally signed some of these guys, the improvement has been insane. For example, our Gears of War team at the beginning of the year was only placing around 7/8th and now is looking at being one of the best two teams in the Pro League this year.

Talking about the “eSportification,” how can a hopeful development crew craft a successful eSport?

I think it’s essential that the developer and the pro players are on the same page. One of the issues with Fortnite is that they are continually making changes to their games and making the esports players unhappy. If you want your game fully catered to the pro scene, you need to develop it with those people in mind. Also, investing money into big tournaments will always be a great way to attract people. Having a smoothly ran tournament with a big prize pool will always make esports players happy and wanting more.

Can and how will the blockchain change the eSports industry going forward?

Esports needs blockchain to improve on itself. There are many struggles that esports deals with, such as monetization, transparency, and more. Blockchain is the perfect solution for this, in my opinion.

Can you share with us what you’re working on at present, and any cool plans you have got for the future?

We’re starting an esports academy with Call of Duty. If we see success with this, we will probably do this with many other games and build on these ideas. It’s something I’m looking forward to and can see it becoming a massive part of our future. The “Path to Pro” system in esports is sturdy, and we want to make that easier.

What imminent activities you’ve in mind since you just partnered with Gokhshtein ESports Division and got David Gokhshtein on board as the CMO.

We’re really going to work on increasing our connections and creating some formidable partnerships and sponsorships within the crypto industry and the esports industry.

Is there anything else you’d want our readers to know?

We’re aiming to dominate the esports industry. Hopefully, I’ll be able to look back on this and say we did.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Ripple’s cross border mission continues to flourish as IndusInd Bank gives it a boost

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Ripple has always committed to creating partnerships in the cross border payments sector, and recently Indusland Bank, a leading Indian bank and Ripple partner, spoke about the advantages of the tie-ups.

Biswabrata Chakravorty, the Chief Investment Officer [CIO] of the bank took to the stage at a recent economic forum where he addressed the plans for developing the cross border world.

In his words:

“As you all know we had recently partnered with Ripple to take cross border transactions to the next level and make it more seamless. A couple of large banks have already tied up with us and even conducted transactions. There are may benefits of building a product on the blockchain because it even enables the elevations of customer experience multifold.”

A majority of Ripple’s partners have revealed that they were successful in conducting transactions across countries and time zones, a task that was considered difficult by mainstream banks. Indusland is one of several native banks who have used Ripple’s native technology to jump aboard the blockchain bandwagon. Chakravorty continued:

“The main advantages of operating on the blockchain are fundamental qualities like transparency and finding out the status of payments etc. In a normal transactions users have difficulty in finding out when their payments will get settled, a concern eliminated by the blockchain technology. Our initial idea was not a world wide connection with banks but just a general area of focus but the partnership with Ripple has inherently managed to it happen.”

The IndusInd Bank official further added that the main expenditures are the costs that pertain to liquidity. According to him, the main idea is to give visibility into the liquidity solution, and the backing of the Interledger protocol is an added help. Chakravorty also elucidated on the different options that customers now have when it comes to types of transfers. He said:

“Customers now have the option of choosing RTEG or NEFT payments, and they are settled in less than 2 minutes. That is something that the customer base is not used to right now, and we want to make sure that the choice is always given.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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United States Federal Reserve contemplates creating its own token after Libra hiccup

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Libra’s far-reaching effects are now one of the causes for the United States Federal Reserve to take new steps in dealing with the cryptocurrency world, more specifically by launching its own token.

The Federal Reserve has been mulling over the idea to create a competitor for Facebook’s cryptocurrency after the Mark Zuckerberg led company continues to fight for adoption at different government levels. A cryptocurrency launched by the Federal Reserve is also seen as an initiative to put lawmakers and policy honchos at rest as the overwatch body will be in charge of the token and not a private company.

Multiple officials from within the Fed have given their comments on the issue as well as contemplating the idea of a native token launch. Representative Bill Foster, one of the officials involved in the cryptocurrency aspect, had stated:

“A consumer payments system is a natural monopoly, the same way Microsoft Word is a natural monopoly. No one wants to use some incompatible word processor. … The question arises — shouldn’t it be the U.S. taxpayer and the U.S. government that does it rather than any private firm?”

Another prominent member, Representative French Hill, added:

“None of us know precisely how the digital world will evolve. But it’s important they undertake this kind of preparation work and analysis.”

Almost all financial overwatch bodies have gone through Facebook’s Libra with a fine comb, and the resulting questions are what has put a hold on the official launch of the cryptocurrency. This delay and confusion around the asset have also caused several of its big partners to drop out of contention, with some significant examples being Stripe and MasterCard.

A token released by the regulatory body is an idea that is supported by banking officials, with some claiming that an institutional organization should take the reins than some multi-billion dollar company who may have their own vested interests. This sentiment was also evidenced by Federal Reserve Bank of Philadelphia President Patrick Harker, who stated:

“It is inevitable. I think it is better for us to start getting our hands around it.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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