The US President Donald Trump reaches our crypto news today again for hiring the popular Bitcoin supporter Mick Mulvaney as his new White House Chief of Staff.
This decision has a huge impact especially to have a major Bitcoin advocate in the White House and it is extremely beneficial for the entire crypto industry. Trump’s decision is a massive boost for the crypto-fanatics as well.
Mulvaney is a crypto supporter and a big fan of Bitcoin and he was one of the people who worked for the creating the blockchain Caucus-a group of lawmakers that create new laws regarding emerging technologies such as cryptocurrency.
‘’I am pleased to announce that Mick Mulvaney, Director of the Office of Management & Budget, will be named Acting White House Chief of Staff, replacing General John Kelly, who has served our Country with distinction. Mick has done an outstanding job while in the Administration’’.
Mulvaney has already stated that the blockchain technology has the potential to revolutionize the entire financial services industry and the US economy in general. He also noted that he is very proud to be involved with this initiative.
Mick Mulvaney has a lot of knowledge of how the blockchain works and has already helped to draft two new legislative acts that support the development of the blockchain industry. At that time, Mulvaney stated:
“Blockchain technology has the potential to revolutionize the financial services industry, the U.S. economy and the delivery of government services, and I am proud to be involved with this initiative.”
This is a great move by Donald Trump for all of the crypto-fans and crypto enthusiasts.
Line Messenger And Its Plans To Launch An Exchange For 80 Million Users
"LINE has built its reputation on providing a great social experience for our users, and now we intend to bring that know-how to the world of digital tokens with our BITBOX exchange. With BITBOX, we intend to have an exchange that is easier to use, while also ensuring we provide extremely strong levels of security."As he also mentioned, BitMax will use the exact same technology that is used in BITBOX. His statement made the latest cryptocurrency news now that Line is expected to obtain a license and operate BitMax in Japan in the near term. The launch of a crypto exchange by Line Messenger, which is a major tech giant in Japan, definitely restores a lot of confidence - especially by local investors and users following the high profile security breaches and the names associated with them (Coincheck and Zaif). Native exchanges may definitely be the future of a new crypto revolution - and Line Messenger could definitely be pioneering it.
Bitcoin YTD Gains At 151% So Far, New Increases Are Likely
“The launch of Facebook’s cryptocurrency will go down in history as the catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up.”Another crypto trader and real estate developer known as Satoshi Flipper noted that Libra will not replace Bitcoin nor compete against it in the same market.
"Once Libra goes live, nobody outside of the Facebook platform will care much for it. It’s another stable coin and it’s not replacing BTC. It will work in a centralized ecosystem. But it will bring awareness to BTC and altcoins. And I’m excited about the network effect it will have," he said.One of the Winklevoss twins, Tyler Winklevoss, has also predicted a Bitcoin YTD gains, stating the possibility for Bitcoin to break through even more in the near future. https://twitter.com/tylerwinklevoss/status/1141387824379441152 His statement went viral on many best cryptocurrency news sites.
QuadrigaCX Co-Founder Used User Deposits For His Own Trading
“Significant volumes of Cryptocurrency were transferred off Platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten. It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.”In addition to this, the coming altcoin news show that QuadrigaCX co-founder Cotton apparently created fake "identified" accounts on the exchange under multiple aliases “into which unsupported Deposits were deposited and used to trade within the platform.” This, as EY noted, led to “inflated revenue figures, artificial trades with Users and ultimately the withdrawal of Cryptocurrency deposited by Users.” In his trading on the competitor exchanges, EY noted that the QuadrigaCX co-founder incurred trading losses and incremental fees that affected Quadriga's cryptocurrency reserves. The report also cites EY saying that it has been unable to confirm the identity of wallet holders to which substantial sums of crypto were transferred. As of the filing date, around 76,000 users are owed a combination of fiat and crypto by Quadriga, at an aggregate value of around $214.6 Canadian dollars (equivalent to $162.2 million in USD).
Analysts Believe BTC Will Hit $62K By The End Of Year
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