Forbes Inc chairman Steve Forbes described cryptocurrencies as a “high-tech cry for help” borne from “the instability of government-printed money today.” He criticized the volatility of crypto assets, but emphasized the appeal of crypto as a symptom of failed economic policy and not the virtues of Bitcoin as a money commodity.
Ripple set to build XRP payments corridor in Brazil
Ripple Head of Global Banking Marjan Delatinne said that the firm is actively working on developing a payment corridor in Brazil. Ripple’s infrastructure for Brazil would make use of its On-Demand Liquidity technology, which dynamically provides liquidity, rather than using traditional approaches such as the Nostro/Vostro system, and make it easier to process cross-border payments.
Ethereum’s $5.2 Million Fee Scandal Explained: Exchange Held to Ransom by Hackers
According to Ethereum (ETH) co-founder Vitalik Buterin, hackers are holding an unnamed crypto exchange to ransom after an alleged cyber-attack forced the ETH blockchain to facilitate two separate transactions at a cost of $5.2 million in fees. “Hackers captured partial access to exchange key; they can’t withdraw but can send no-effect transactions with any gas price. So they threaten to ‘burn’ all funds via transaction fees unless compensated.”
Bitcoin Post-Halving Report (Q2 2020)
According to CoinTelegraph Markets, the 2020 halving has already had a noticeable impact on Bitcoin much like the halvings before it, both of which preceded considerable appreciation in BTC’s price. The hash rate, mining difficulty and other on-chain metrics have been in flux and adapting to the new economic reality of reduced mining block rewards. Meanwhile, the BTC price has become more correlated with major markets, but this has happened in previous halvings, so it could decouple from stocks in 2020.
3 Things Every Crypto Investor Should Know About Trading Bitcoin Futures
Trading Bitcoin (BTC) futures might seem easy on the surface but there are a number of fees that investors seeking big returns from high leverage trades ignore. In addition to trading fees, investors should also be aware of the variable funding rate that many exchanges levy and even maker and taker fees should be taken into account.
Revolut: A Normal Bank – Unfortunately
U.K.-based digital bank Revolut’s “free-account” customers will face fees on FX transfers starting on August 12. Sending money abroad will cost 1 Swiss franc for Swiss Franc transfers, 4 francs for transactions in dollar and 6 francs in any other currency. Furthermore, the upper limit for free exchange orders will be lowered to 1,250 francs and the percentage charged for orders on weekends increased to 1 percent from 0.5 percent.
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