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Steam Gaming Platform Launches New Virtual Reality Game, CryptoSpace

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To educate the newbies as well as veterans about the crypto industry, the most significant gaming platform Steam has recently announced the launch of new Virtual Reality (VR) game, dubbed as CryptoSpace.

Crypto-Related VR Game

Developed by Valve Corporation, Steam is a video game digital distribution platform. The platform has recently announced the inclusion of a new game dedicated to educating the crypto industry. The new game, CryptoSpace, is more of an educational game to assist the crypto community with the basic concepts of how the block and overall crypto industry works.

As per the reports, the game was developed by Jesus Najera, and eventual release followed on August 15. With the first version of VR CryptoSpace game, users will be able “to overview chains and review blocks for transactions.”

The first VR blockexplorer, CryptoSpace is the most engaging & educational way to learn about cryptocurrency projects. For newcomers & veterans alike, this first version allows you to overview chains as well as inspect blocks for transactions.

The description of the game reads that the Alpha Version of the game will offer insights into leading cryptocurrencies, including Bitcoin (BTC), EOS, Ethereum (ETH), Litecoin (LTC) and XRP.
As the game is recently included in the list, there’s no review available on CryptoSpace yet.

The steam platform further shared the following system requirements to install the game;

Minimum and recommended requirement of OS and Processor for CryptoSpace is Windows 10 and Intel Core17 respectively. However, it would require 6 GB RAM as recommended memory whereas it can work with 4 GB RAM as its minimum requirement. Besides, the recommended need of Graphic and storage is GeForce GTX 1080 and 1 GB space correspondingly.

Steam Cryptospace

Back in 2017, Steam was reportedly accepting the payment in Bitcoin, allowing users to quickly and easily spend cryptocurrency for software. Accordingly, BitPay payment processor was in place to accept Bitcoin payments.

While cryptocurrency’s involvement in the gaming industry in the form of new token launch for gamers or bitcoin acceptance as payment have been on the rise, CryptoSpace is the first crypto-related game launched by Steam.

Disclaimer: The presented information is subjected to market condition 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 Puts the Whole Finance Industry in a Fascinating Predicament

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Ripple and its cryptocurrency XRP appear to be on the way of something big which might impact not only the company and the asset but the entire finance industry. XRP sees more and more adoption among businesses; as we write this, it is set to see an increase of Latin American and US users already.

Although it doesn’t seem to be gaining as much attention as it deserves, Ripple continues to make waves in the financial industry. Certainly not as much as projects such as Facebook’s Libra, or even as the recent price shifts of Bitcoin.

Even so, Ripple and its XRP did make quite a few significant moves recently. One of the biggest ones doesn’t actually come from Ripple itself but from a Spanish bank called Santander.

Santander is a bank that not too long ago issued a mobile payment app known as One Pay FX, which is powered by Ripple blockchain. This is an interesting app that can use XRP as a payment method, although it is not one of Ripple’s products. It is worth noting that the app doesn’t depend on XRP at all, but it does offer it as an option.

So far, the app has been quite popular in several European countries, including Poland, Spain, the UK, Italy, and alike. However, the bank aims to expand the app’s user base to Latin America next, and even to the US. This would allow Latin American and US users to send money internationally as well instantly.

The move was inspired by One Pay FX’s major increase in transaction volume in 2019. It pretty much tripled from January to June of this year, while volumes for Spain grew by around 120% in a single year, as measured in April 2019.

So far, Santander did not reveal when the technology will reach Latin America, or even which countries it plans to target. However, regardless of when and which, XRP’s user base is likely about to increase significantly shortly.

Why it makes sense for the companies to use Ripple (XRP)

While this is a huge move for XRP and Ripple, it is still only one area in which the project is progressing. Thanks to the fact that Ripple is so popular among banks around the world, XRP might become the first cryptocurrency to reach mass adoption. It is clearly becoming more than a purely-speculative asset and is being adopted by businesses around the world — yes, carefully and hesitantly, but they are still making that move.

These companies will have to use XRP to achieve speed/cost benefits, because, without XRP, there will be no fast settlements, only quick payments. Using RippleNet but not using XRP does not give firms the true advantage since the money will still have to move either through traditional banking systems, or 3rd party partners. In both cases, non-XRP transactions will be slow for the end-users.

Once any company partners with Ripple and gains access to RippleNet, it only makes sense for them to start using XRP and make use of all the benefits. In other words, the more partnerships Ripple enters, the more payments it will see. At the same time, As Ripple continues its alliances’ streak, more payment corridors will switch to faster XRP settlements, which will allow for higher liquidity.

https://twitter.com/Gibmoses/status/1164559077491519490

That is most likely the reason why the XRP price moves, and the only explanation for its performance that really makes sense. That is also the reason why many in the crypto industry expect that Ripple’s XRP price will surge as soon as the market allows it. In any event, Ripple and XRP seem to be on the precipice of something big which, as things stand, will define the future of both, the company and the asset with a golden pen.

Disclaimer: The presented information is subjected to market condition 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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New Cryptojacking Virus “Norman” Targets Monero (XMR) Mining

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The latest report by cyber-security firm, Varonis finds that a new cryptojacking virus, Norman is targeting Monero cryptocurrency. The finding made public on August 14, hinting that it will mostly affect a mid-size company.

New Monero Mining Malware Detected

Monero is famously named as the “privacy-centric” cryptocurrency – however, the research on August 14 reveals that the Norman aims to mine CPU_centric coins like XMR/Monero and evade detection.

Norman is the new cryptojacking virus that will supposedly use the computing power of the user’s computers to mine cryptocurrencies. The case of Norman particularly highlights Monero (XMR) as it is based on XMRig and report described it as the “high-performance mining algorithm for Monero cryptocurrency”.

The research firm outlines that;

“Almost every server and workstation was infected with malware. Most were generic variants of crypto miners. Some were password dumping tools, some were hidden PHP shells, and some had been present for several years,”

It states that the malware closes crypto mining as soon as the user opens up the task Manager whereas it will re-launch the mining process again once the Task Manager closes. The Research noted;

“Norman employs evasion techniques to hide from analysis and avoid discovery,”

It’s worth mentioning that Monero is much likely a favorite cryptocurrency for hackers and attackers as crypto space witnessed several malware incidents for XMR earlier.

However, the security firm suspects that it has french variables in the code and accordingly notes this malware is likely derived from a country of French speakers. According to the researchers at Varonis, Norman is based on the PHP programming language. It went on adding;

“The malware may have originated from France or another French-speaking country: the SFX file had comments in French, which indicate that the author used a French version of WinRAR to create the file,”

Up until August 14, Norman attack almost every workstation and server at one “mid-size company.” Researcher indicates that the strain of Norman executes Monero mining in three steps, execution, injection and then crypto mining.

Disclaimer: The presented information is subjected to market condition 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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SEC finally settles the lawsuit against 2017’s illegal crypto ICO issuer PlexCorps

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SEC’s action against promoters of the illegal crypto token PlexCoin turns out to pay big bucks as elegant. PlexCoin, Dominic Lacroix and Sabrina Paradis-Royer agree to pay fines, charged by SEC and states that they will not involve in securities sale again.

As per the reports, US SEC (Securities and Exchange Commission) successfully settles a lawsuit which was filed against promoters illegal ICO sale. According to the filing, defendants Lacroix and Paradis-Royer will pay 1 million USD each as a civil penalty. However, SEC orders PlexCorps, famously known as PlexCoin, to pay disgorgement of 4.56 million USD in addition to the interest of $35000.

SEC Launches Action Against Fake ICO Project of 2017

To recall, back in 2017, there were several companies launched ICO offerings; many turned out to be on faking investors by offering false return promises. As such, SEC and watchdogs of other countries doubled their efforts to crumble the promotion of such companies which over time resulted in strict crypto-blockchain regulations in respective countries.

So-called, PlexCoin raised millions in an ICO in late 2017, assuring its investors a 13x return only in a month. SEC first filed a lawsuit against PlexCoin in September 2017 following the completion of ICO.

Later the watchdog filed another complaint against Lacroix on false reporting of the misappropriation and funds of investors participated in ICO. Moreover, in late 2017, the SEC sent a letter to PlexCoin to stop token offering immediately.

Following the lawsuit, Morrison Cohen who is a partner at Jason P.Gottlieb and a representative of PlexCorps encourage the decision of SEC and states;

PlexCorps is pleased to achieve this settlement with the Securities and Exchange Commission, in which it is cooperating with the SEC to ensure that U.S. purchasers of Plexcoin will be eligible to receive a refund directly from the SEC,”

While the court filing states the corresponding amount of fine, a judge hasn’t signed on the settlement yet. Moreover, the filing further reads that Lacroix and Paradis-Royer will never participate again on the sale of securities and agreed on not committing fraud again.

Disclaimer: The presented information is subjected to market condition 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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North Korea’s use of digital currency might severely damage the crypto industry

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The United States is already infamous for the lack of love for Bitcoin (BTC) and other cryptocurrencies. The country’s regulators do not seem to be doing much in terms of regulating the sector, and many questions remain unanswered. Crypto-entrepreneurs are discouraged from starting the businesses there, as many fear the things could turn south for the crypto sector in the USA at any time.

This negative stance towards digital currencies only worsened in recent weeks, especially after Facebook posted an announcement about its Libra coin. It is safe to say that nobody among the US government officials appreciated the news, and even the US President Donald Trump felt obligated to tweet about virtual assets, acknowledging them publicly for the first time.

President Trump clearly stated his distaste for cryptocurrencies, directly naming Bitcoin and Libra in his tweets, seemingly concerned about potential illicit uses. Criminals have indeed used crypto in unlawful activities such as cybercrime, ransomware, money laundering, and more. However, it does not appear that the negativity towards cryptocurrencies will stop anytime soon, especially not after the recent report from the United Nations.

The new report commented on the recent development of North Korea’s weapons of mass destruction program.  According to the UN, the rogue nation seems to have recently found a new way to fund its criminal operation. They used hacking attacks against significant crypto exchanges where they stole the stored funds. The move is likely only to increase the gap between cryptocurrency and the US authorities, further convincing them that criminals only use crypto.

The future of crypto in the US looks grim

After Trump’s anti-Bitcoin tweets, the Secretary of Treasury, Steven Mnuchin, did pretty much the same. He voiced his concerns regarding digital currencies, stating that they might be used for supporting billions of dollars of illicit activity.

He highlighted some of the activities directly, including tax evasion, drug trafficking, cybercrime, extortion, human trafficking, and ransomware. After expressing their concerns, the high-ranking US officials only need a single example of crypto misuse to demonize digital currencies further. Unfortunately, the United Nations’ report has given them exactly what they needed.

The report of North Korea using cryptocurrencies stolen from the exchanges for financing their weapons program is a severe problem for the crypto industry especially after the report mentions explicitly that Pyongyang used cyberspace for launching sophisticated attacks on crypto exchanges and financial institutions, solely to steal funds and generate income.

The country has also been connected to exchange attacks in South Korea for quite a while. Now, according to the UN report, these attacks may have resulted in over $2 billion in stolen funds.

Because the US is already skeptical towards cryptocurrencies, as well as the fact that this is the time of high tensions when it comes to the country’s international policy — it is unlikely that the country won’t take any action. Of course, there are countless arguments against this ‘crypto is only used by criminals’ stance. But, it is also true that digital currencies made stealing money, laundering it, or moving under the radar quite possible.

The biggest fear right now is that regulators might be much quicker to ban crypto than they were to regulate it. Connecting cryptocurrencies to weapons of mass destruction definitely have its impact, and concerns are more profound than ever. This is not good for crypto space, and the damage it is causing may end up being irreparable.

Disclaimer: The presented information is subjected to market condition 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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Coinbase to expand its list of cryptos offered: 8 new altcoins currently under consideration

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A couple of days ago, Coinbase announced that it plans to review new coins and potentially add one or more to its list of offered digital assets. There are eight coins currently under review, including some well-known ones, such as Dash, Ontology, and Waves.

The largest US-based cryptocurrency exchange, Coinbase, announced recently that it plans to expand its list of offered cryptocurrencies even further. The new decision comes as a welcome surprise for the exchange’s customers, who got used to Coinbase only offering the safest trading and investment opportunities.

Initially, Coinbase only offered the most significant coins, such as Bitcoin and Ethereum. Now, however, the exchange seems to be ready to take the next step and provide its clients with additional options.

The exchange stressed that the new coins are only being considered at the moment and that there is no guarantee that any of them will actually get listed. Even so, the possibility itself is exciting to many. The exchange expressed an interest in eight new altcoins, including Cosmos (ATOM), Matic Network (MATIC), Algorand (ALGO), Harmony (ONE), Decred (DCR), Waves (WAVES), Ontology (ONT), and Dash (DASH).

Coinbase explained that it wishes to support all assets that meet the platform’s technical requirements, while at the same time, they comply with the current relevant laws. Before it decides whether to accept or decline a particular asset, the exchange will take a look at different factors and features, including compliance level, security, as well as the assets’ alignment with the platform’s own goal — the creation of an open financial system for the entire world.

Coinbase also noted that it might be possible for users to see related frameworks and public-facing APIs while the process of examination of different coins is underway.

The most notable coins currently under review

Of course, Coinbase’s strict measures are not really a surprise for anyone familiar with the exchange for some time. Its asset listing process, announced last year, allows any developer to apply their currency and try to get it listed on the platform. The Exchange believes that this is the fastest way of adding new, reliable assets.

As for the coins that the exchange is currently looking into, a few stand out, including Dash, Waves, Ontology, and Decred.

Dash is a coin that is relatively similar to Bitcoin itself, although it is a Proof-of-Stake platform, which offers instant payments and more great privacy features. The coin is currently listed as the 15th largest cryptocurrency by market cap, with a price of $106.02. It is also the first coin whose market cap is now below $1 billion.

When it comes to Waves, it is an open-source platform that allows others to create their own tokens, similarly to Ethereum. Developers can make new coins, store them, manage them, and more. It offers numerous features, including a DEX. It is a Proof-of-Stake platform, and it attracted multiple entrepreneurs in the crypto space. It currently ranks as 48th largest coin, with a market cap of $134.28 million, and a price of $1.34 per coin.

As for Ontology, this is a public blockchain platform that is dedicated to the creation of decentralized applications, or dApps. It ranks as 24th largest coin, with a market cap of $493.58 million, and a price of $0.925598 at the time of writing.

Finally, there is Decred — a fork of Bitcoin that focuses on consensus and governance, rather than on payments. It was launched three years ago, in 2016. Ever since then, it has been acting as a proposal platform for smart contracts, public use, cross-platform wallets, and more. It is currently the 30th largest cryptocurrency, with a market cap of $294.22 million, and a price of $28.84 per unit.

Disclaimer: The presented information is subjected to market condition 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 price approaches $12k for the first time in weeks

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Not too long ago, after seeing a successful surge that brought it from $3,200 to nearly $14,000 in only a few months, Bitcoin (BTC) saw a significant drop that took it back to $9,600. For a substantial portion of June, and the entirety of July, the largest cryptocurrency was trying to grow back up. However, each attempt was followed by a drop that took it back to $9,600.

This changed with the arrival of August, which was followed by another sharp rise that seems to have finally allowed BTC to break significant resistance levels — and surge beyond $11,000 for the first time in weeks.

According to Bitcoin’s statistics from CoinMarketCap, the coin managed to go above $11,000 on Sunday, August 4th, at around 15:00 UTC. This was the first time that Bitcoin exceeded the $11k mark in around three weeks.

Before it surged past $11,000, BTC price was first stalled, as well as retested at the resistance level at $10,600. However, as soon as this level had fallen, BTC saw a breakout that took it to $11,000 and above. As we write this, the crypto king’s price sits at $11,759 after soaring by 9.91% in the last 24-hours.

Bitcoin BTC price surge
Bitcoin price comparison chart for yesterday vs. today.

The last day also saw a sudden growth in trading volume, which climbed up to over $4 billion in the previous 24 hours. Of course, BTC will need it to reach higher levels and to keep breaking resistance levels, as the next major one awaits at $11,880. However, the coin’s recent behavior and the investors’ reaction clearly indicate that this development is more than possible.

Bitcoin leading the rally yet again

Bitcoin’s new price surge caused the rest of the crypto market to rally as well. At the press time, there is not a single coin in the top 30 largest cryptocurrencies that is not trading in the green.

Coins such as Ethereum (ETH), Tezos (XTZ), TRON (TRX), and a few others have been the major gainers. Most coins among the top 10 are growing by 3-5% at this point, apart from Stellar, which is only seeing about 2% surge right now.

At the same time, the whole crypto market cap is surging as it went beyond $310 billion once again today. Currently, it sits at $305,114,494,715, and the positive momentum still carries it. The new figure was reached after around $10 billion-large increase over the last 24 hours, making August 4th one of the most productive day in the crypto industry in the past weeks, and even months.

AS for the future, it appears that the short-term outlook will be favorable to bulls. It is expected that BTC will be tested once more at $11,880. If the coin manages to break this resistance as well, it might be above $12,000 in a matter of hours. Presently, the coin still sees steady growth at around 8%, and it is driving the rest of the market up, as well.

The new bull run is certainly including almost everyone and even Ripple’s XRP — which some times resists such developments for a long time before joining others. After going up by nearly 3% today, XRP finally stands above the $0.32 price mark.

As for Ethereum, it still remains the world’s second-largest coin, with a current price of $233 and a growth rate of 6.3% over the last 24 hours.

Disclaimer: The presented information is subjected to market condition 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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Top Crypto News of the Week – 29th June to 4th August 2019

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This week has been lively with several things happening around the crypto space. XRP was amongst one of the top trending cryptos with different developments occurring around Ripple. Tron was also in the news with some shaky moments. Moreover, some general announcements were made. Let’s have a glance at them.

Cash App Powered by Square, Inc. Doubles Bitcoin Revenue

Cash App powered by the payment company Square, Inc. announced that their revenue for the Q2 2019 was doubled with an amount of $125 million in BTC’s. Before, the company’s revenue for Q1 was around $65.5 million in Bitcoin.

Square is a company which is highly bullish on Bitcoin and the project manager at Square Crypto; Steve Lee mentioned that the payment company is very, very pro-Bitcoin.

Walmart Patenting a Stablecoin

The interest of retail giant Walmart seems to increase in the cryptocurrency market. Walmart insists that they should have crypto just like Facebook’s Libra that would be a much secure platform to store government bonds and fiat currency.

Walmart has presented an application for a digital currency patent that should be similar to Libra. The filing proposes that the coin would provide financial services for those with limited ingress to the banking services.

Grayscale to Use Coinbase Custody

Grayscale was looking to make one of the most significant single-day crypto transfers. Coinbase already holds $1 billion in assets of the company, claimed CEO Coinbase. The crypto exchange has been acting as the custodian for Grayscale’s digital asset holdings and is set to hold further assets worth almost $3 billion soon.

Grayscale holds several cryptocurrencies including Bitcoin, Ethereum, Stellar, XRP, several other altcoins. According to the company, it holds crypto assets worth $2.7 billion, which is double of those holdings of Q1 that were around $1.2 billion.

South Korea Begins Regulation Free Zone

The government of South Korea announced Busan as a “regulation-free zone” for the development of blockchain. This was being discussed for a long time, and finally, it has been formalized.

Busan is set to organize a copious blockchain libation that will include finance, tourism, and public safety. Though the government hasn’t allowed ICOs and they are still a bit conscious regarding cryptocurrencies. Still, it is a good incentive that will open gates for blockchain technology and hopefully cryptocurrencies as well.

It is expected that by the end of 2021, investors would have made an investment of around 25 million dollars across different blockchain projects.

Kraken Acquires Interchange

One of the biggest crypto exchanges, Kraken attained Interchange as per an announcement made on 31st July. This is one of the latest efforts made by Kraken to gain the institutional advantage in the industry.

Interchange is basically a reporting and accounting service for companies, and it also has functions in the crypto market. So, acquiring an Interchange is a good development for Kraken. It will help users to manage their portfolios in a better way. The access to the market would become accessible, and investors would be better able to monitor and report regarding their crypto holdings.

Litecoin (LTC) ‘Halving’ Soon

One of the top cryptos in the market, Litecoin (LTC) is going to be halved once again. The LTC halving with take place on 5th August, and this would decrease the reward for cryptocurrency users by 50%.

At the moment, Litecoin miners are offered with 50 coins for each block, and after the halving, it would automatically be reduced to 25 coins per block.

This news is very much for the investors to keep an eye on. Litecoin is expected to follow an upward trend, as the constant decrease in mining rewards results in profitability though halving could turn out to be unstable for a market that is already volatile.

Ripple on the Charge

Ripple has had a successful week, as far as its adoption is concerned. Several financial institutions have adopted Ripple’s XRP for their payment services.

Recently, the second-largest payment provider in the world, Moneygram has made a deal with Ripple to use its services for cross-border transactions using the digital asset. The focal point of this collaboration will be Ripple’s xRapid. It leverages XRP, the native digital asset of the XRP Ledger, as a real-time bridge between the sending and receiving currencies.

Moreover, Ripple has been adopted by the payment provider companies, including EquensWorldline. Also, Ripple, in partnership with SBI, launched a virtual currency spot trading service called ‘VCTRADE Pro.’

Tron (TRX)’s Tremulous Moments

In the latest crypto ranking published by China, Tron makes the third spot among other 27 digital assets. This was the most triumphant moment for TRX in this week.

However, it was more than good stories that revolved around TRX radar. Several Tron holders have reportedly switched to Ripple (XRP) as they thing Justin Sun doesn’t mean business.

It was a see-saw week for Tron, let’s see what’s new for the TRX community in the upcoming week.

Conclusion

Overall, the progress of the crypto industry seems to have moved with some positive developments this week. As the crypto market is leaving its impression on the world, day-in, and day-out, there is much more to follow from the crypto world.

Disclaimer: The presented information is subjected to market condition 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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Kraken crypto platform acquires Interchange to uplift institutional offerings

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San Francisco based virtual asset exchange, Kraken, just acquired accounting, reconciliation, and reporting service provider, Interchange, in an aim to better service fund administrators, crypto hedge funds, and asset managers.

In an announcement that was released early this morning, Kraken confirmed the news it had bought the institutional-grade service provider, Interchange. As a company, Interchange facilitates institutional investors with services that allow them to better monitor and report their virtual asset holdings.

“The acquisition of Interchange creates the first end-to-end virtual asset trading and reconciliation platform. In addition to the purchase, we would like to welcome Interchange co-founders, and cryptocurrency experts Clark Moody and Dan Held to Kraken,” the announcement from Kraken read without providing further information regarding the amount that was spent to close the deal, including whether it was finalized.

According to crypto experts and analysts, Kraken’s multi-exchange charting, portfolio tracking, and exchanging platform, Interchange will provide crypto traders with a conclusive solution to their portfolio management and optimization needs.

As a cryptocurrency company that deals with accounting, reconciliation, and reporting services, Interchange avails professional portfolio and accounting reconciliation tools to its virtual asset clientele.

According to Kraken, Interchange has managed to beat the odds to usher in the next generation product to the corporate marketplace in less than a year. Servicing over 60 institutions that comprise of hedge funds and fund administrators, Interchange is focused on increasing its corporate portfolio that has notable names such as MG Stover. MG Stover is the leading fund administrator for virtual asset funds in the world.

The acquisition of Interchange by Kraken marks a milestone for the company that has been on a spending spree in recent time.

Early this month, Kraken announced to the world the purchase of a software tool that avails market data and prices for over 50 crypto exchange platforms, Cryptofinance.ai, to its users.

In February 2019, Kraken purchased a crypto trading platform, Crypto Facilities to add to its growing list of acquired companies. Since the acquisition of Crypto Facilities, which now goes by the name Kraken Futures by Kraken, it’s trading volume has increased upward by over 500 percent.

When asked why Kraken Futures is now performing tremendously better than before the purchase, Sui Chung, the head of indices and pricing products, disclosed that Kraken was the secret behind its success.

“Running some of the leading liquid markets for LTC and BCH, Kraken is one of the major players in the industry, an advantage that is spilling over to our market as well.”

The effects of the acquisition are so clear that Kraken Futures has processed about 1 billion USD in crypto futures across their services.

Crypto experts argue both companies, Kraken and Interchange, stand to benefit from the deal as Kraken has managed to register a triple-digit growth rate in corporate clients every year since 2014. To date, Kraken continues to develop new and innovative products that address the most disturbing challenges the market faces.

Considering Kraken already has a working partnership with Cryptowatch, the incorporation of Interchange will assist Cryptowatch in offering an unrivaled set of services that include historical and real-time information.

Some of the real-time and historical information that will be available to Cryptowatch includes advanced charting, portfolio reconciliation tools, multi-exchange trade execution tools, critical accountings tools, and research and insights capabilities.

World’s leading index products that are offered by Kraken’s CF Benchmark business will also be available to Cryptowatch, enhancing user experience and satisfaction.

The combination of all these valuable and all-inclusive offerings in a single venue underpins Kraken’s dedication to providing a state-of-the-art platform that supports the adoption of virtual assets globally. Kraken is committed to the adoption of virtual assets globally among individuals, middle-sized businesses, and large corporations.

Based in the US, Kraken is the world’s leading virtual asset exchange in liquidity and volume. Kraken supports transactions that are in US dollar, Japanese Yen, British Pounds, and other virtual assets on its platform. Rated the best Bitcoin exchange platform by media outlets, the San Francisco based company proves to be a safe choice for traders willing to engage in crypto trading.

Disclaimer: The presented information is subjected to market condition 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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Twitter’s Square Crypto Bullish on Only one Product, Bitcoin

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Twitter CEO Jack Dorsey’s crypto business is again on hot bulletins of crypto media. The company, SquareCrypto recently states that Bitcoin is the only product they’re focusing on.

We are very, very pro-Bitcoin

In early days of its launch, SquareCrypto states that they’re hiring 4-5 crypto engineers and designers from across the world. While the exact idea of the company’s involvement in the crypto ecosystem seemed whole mysterious.

But according to the company’s project manager Steve Lee, “Bitcoin is the only product Square Crypto is building.” Steve Lee is a Google Alum who recently confirms his joining with Square Crypto.

Unlike Facebook, there’s still no report highlighting Twitter launching any cryptocurrency, via SquareCrypto. In the latest AMA session, Lee says that “they’re hyper-focused on bitcoin.” As a response to a tweet, Lee says;

We are very, very pro-Bitcoin. There is more than enough work for us to do there. That said, we are open to emerging use cases and technologies that complement Bitcoin. – Steve

Besides, while asked bout when are they expecting to have a working product from Square Crypto, Lee explains, there’s only one product, Bitcoin and it’s up and running for over ten years. He says; there is still a lot that needs to be done before we reach mass adoption.”

It seems that Lee and Square Crypto is too bullish on Bitcoin but still there’s no clear talk on what improvements the team is focusing on to reach “mass adoption.”

Following a similar note, Steve addressed yet another question that talks about self-sovereignty principles of Bitcoin. According to Square Crypto, “the needs of current and future users are overlapping.”

We agree with the self-sovereignty principles of Bitcoin. That said, we see the needs of current and future users overlapping. We want to make Bitcoin better for all. – Steve

Moreover, talking about the team for Square Crypto steve states that their first step is building the team wherein they hope to have one anchor developer with Bitcoin development experience.

With the process, the firms want to grow their “talent base” to contribute to the ecosystem. He further confirms that SquareCrypto is close in welcoming its first developer; while 1500 plus resumes are on queue.

In comparison to Facebook, Twitter’s Square Crypto is less about its own company’s brand position and more about building the bitcoin and crypto ecosystem stronger.

Disclaimer: The presented information is subjected to market condition 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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