BLOCKCHAIN

Calibra CEO Delivers Opening Statements on Libra Ahead of Senate Hearing

[ad_1] The United States Senate Banking Committee has released the opening statements of David Marcus, head of Facebook’s crypto wallet Calibra. Marcus made his comments to lawmakers today, July 15, ahead of a hearing on the Libra cryptocurrency project tomorrow in the Senate.In his testimony, Marcus raised the issue of Facebook’s upcoming stablecoin Libra and its associated digital wallet Calibra, which have previously drawn criticism from both community members, lawmakers
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Bitcoin Pullback Is Healthy, Fewer Searches Аre Good

[ad_1] Fundstrat Global Advisers co-founder Thomas Lee wrote that the recent Bitcoin (BTC) pullback is healthy in a tweet on July 14.In his tweet, Lee also addressed concerns over the recent decrease in Google searches for Bitcoin:“As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in Bitcoin has not been accompanied by massive hype.”According to search analytics service
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John McAfee Doubles Down on $1M 2020 Price Prediction for Bitcoin

[ad_1] American entrepreneur and vocal crypto advocate John McAfee has doubled down on his $1 million by 2020 prediction for Bitcoin (BTC).Taking stock of community sentiment in light of Bitcoin’s recent price fluctuations, McAfee wrote on July 15 that he was “laughing his f------ ass off” at the seemingly overblown negativity:“Bitcoin is at the mid 10's and people worry. LMFAO!! Why do you pay attention to weekly fluctuations? Look at
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New US House Bill Would Fine Facebook’s Libra $1 Million Per Day

[ad_1] A proposed bill to fine major tech firms such as Facebook $1 million per day if they issue cryptocurrencies is being circulated by Democrats, Reuters reports on July 15.Reuters cites a copy of draft legislation — reported on by Cointelegraph when it first surfaced online last week — and notes that it proposes to impose a $1 million fine daily upon any firm that violates its proposed rules.Per Reuters,
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Bitcoin Price Clings to $10K Support After a Volatile Weekend

[ad_1] Bitcoin price (BTC) traded above $10,000 July 15 after a weekend of heavy losses spelled disaster for cryptocurrencies across the board.Market visualization courtesy of Coin360Data from Coin360 showed BTC/USD holding onto support above the key barrier Monday, having temporarily dropped as low as $9,912. The 9.7% daily losses compounded a worrying weekly trend which saw the pair fall rapidly from above $13,000.Bitcoin 7-day price chart. Source: Coin360Driving the bearish sentiment,
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Tether Mistakenly Minted 5 Billion USDT and Immediately Burned Them

[ad_1] Stablecoin operator Tether accidentally minted and subsequently burned 5 billion USDT tokens, Whale Alert tweeted on July 13.Whale Alert — a Twitter account dedicated to reporting large cryptocurrency transactions — noted that 50 million USDT tokens were transferred from cryptocurrency exchange Poloniex to the Tether Treasury via the Omni protocol on the Bitcoin (BTC) blockchain. The account subsequently reported that Tether Treasury minted 5 billion USDT tokens on the
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Drafted “Keep Big Tech out of Finance” Act Surfaces Days Before Libra Hearings

[ad_1] A drafted bill entitled “Keep Big Tech out of Finance” has surfaced online, allegedly deriving from within the United States House of Representatives Financial Services Committee. The document’s metadata dates it July 12.The bill’s provenance is unconfirmed, but crypto news site The Block quotes an inside source as saying it is with the Financial Services Committee. The document reads: “A large platform utility may not establish, maintain, or operate a digital
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Republic of Georgia Exempts Cryptocurrencies From Value-Added Tax

[ad_1] Republic of Georgia has exempted cryptocurrencies from value-added tax (VAT), as Bitcoin.com reported on July 13.Per the report, Georgia’s finance minister Nodar Khaduri recently signed a bill aimed at regulating the taxation of entities that trade or mine cryptocurrencies. The bill entered into force at the end of June. The definition of decentralized currency that the bill puts forward is reportedly the following:“Cryptocurrencies are digital assets that are exchanged
BLOCKCHAIN

Japan to Look Into the Impact of Facebook’s Libra Ahead of G7

[ad_1] Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, The New York Times reported on July 12.Per the report, Japanese authorities have set up a working group tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The working group will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and already started meeting this week.The outlet
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0x DEX Protocol Suspended Because of Vulnerability, Funds Safe

[ad_1] The Ethereum (ETH) smart contract of 0x (ZRX) decentralized exchange (DEX) protocol has been suspended after a vulnerability has been uncovered in its code, the project’s team announced in a Medium post published on July 13.Per the announcement, third-party security researcher samczsun warned the 0x team about the vulnerability in the exchange smart contract and, after evaluating it, the team suspended the exchange’s contract and the AssetProxy contracts.The vulnerability