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Altcoin News

Half Of Top Ten Cryptos See Green In Mixed Price Action

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The cryptocurrency market has been relatively stable for the weekend, and about a half of the top cryptocurrencies by market cap have seen greens lately. This mixed price action is in the recent crypto news, where Bitcoin is still stable at the $6,300 mark after falling down from about $6,700 a few days ago.

Bitcoin and Ethereum saw changes in its value of under 1% lately. Right now, Bitcoin is trading at $6,314 and Ethereum is stable at $200. The rest of the altcoins including Ripple, Bitcoin Cash, EOS, Stellar and Litecoin have all seen red in minimum 1% plummets.

Ripple, however, has dropped by around 2% yesterday and is now trading at $0.41. With this, the third largest cryptocurrency by market cap is still about 50% over the past 30 days, due to its impressive price surge on September 20th.

The total market capitalization right now is hovering around the $202 billion marks to press time. Currently, it amounts to $202.5 billion, seeing an improvement from yesterday. The daily trade volume of the entire market has dropped below $10 billion for the first time since August 26th, when Bitcoin was trading close to $7,000 and Ethereum was above $270.

Many analysts are tweeting polls and looking for answers right now, and the speeches where crypto is “debunked” continue.

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Altcoin News

Famous Coincheck Theft Was Masterminded By Russian Hackers: Report

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famous coincheck theft
The famous Coincheck theft, which led the exchange to lose around $530 million worth of New Economy Movement (NEM) tokens was a hot topic in the altcoin news in January 2018. A new report recently emerged, showing that the hack had been finessed by an unknown group of Russian hackers. Even though it is widely believed that North Korean hackers stand behind the famous Coincheck theft, the Japanese newspaper Asahi Shimbun is in the latest cryptocurrency news today with a new report - showing the Russian breadcrumbs in the Coincheck crypto exchange hack. According to the Japanese newspaper, the examination of a Coincheck employee's personal computer revealed a malware which was associated with Russian hackers. The hack, on the other hand, was a result of the crypto exchange's employees and the fact that they installed infected software on their computers. The famous Coincheck theft had the hackers sending emails to the employees (full of viruses such as Mokes and Netwire) which installed the malware on their machines and caused the massive financial loss. These viruses took over the infected computers and allowed the hackers to operate them remotely, gaining access to the private keys and executing the famous Coincheck theft. Russian hackers have been known for leaving breadcrumbs of their misdeeds in the past. Therefore, it is not surprising to see many best cryptocurrency news sites reporting about them doing a shoddy job of covering the tracks once again - when they hacked the crypto exchange last year. Despite the famous Coincheck theft, the crypto exchange was recently resurrected and now operates with a cryptocurrency license, unlike last year when it was hacked into. At that time, the exchange was awaiting a license and had poor checks and balances in place to prevent the massive theft knocking it into the ground. Moreover, the inefficiency of Coincheck to protect its customers' funds means that the hackers had to loot a fort with no defenses. If this was the Russians, it would have been a walk in the park - the country's hackers are known for hacking the DNC server during the 2016 elections s well as many other cases of hacks, Bitcoin scams and more. Below is a proof of one. https://twitter.com/nathanielpopper/status/1017816145397796865
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Altcoin News

Ripple And MoneyGram Join Forces: $50M Investment On The Way

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ripple and moneygram
The latest cryptocurrency news show a new partnership on the horizon - between Ripple and MoneyGram - which seems to be a strategic collaboration that makes the most of blockchain based payments. The two firms have agreed to become partners in the cross-border payments and foreign exchange settlements with digital assets. As the official announcement shows, MoneyGram will be able to get up to $50 million dollars from Ripple in exchange for equity in the firm. Both Ripple and MoneyGram have agreed to use each other's products. The press release shared by many best cryptocurrency news sites shows that MoneyGram will use Ripple's xRapid liquidity product which allows money to be sent in one currency and instantly settled in the destination currency. Using the XRP token for such transfers, xRapid is a technology that can settle such transactions faster and better than with standard fiat currencies or other cryptocurrencies. As the CEO of MoneyGram Alex Holmes noted when announcing the Ripple and MoneyGram partnership:
“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from U.S. dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”
As the website shows, MoneyGram is the second largest payments firm in the world. The coming altcoin news and its partnership with Ripple will also help the blockchain firm to gain presence in more than 200 countries (where MoneyGram actively operates). Much of the company's business lies in the remittances market, which value is estimated at around $600 billion. The CEO of Ripple, Brad Garlinghouse, also shared his excitement about the new Ripple and MoneyGram partnership, stating:
“This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies."
Payment processing and sending money globally through the blockchain are definitely something that can be improved with this new partnership. By joining Ripple's growing and global network, financial institutions can process their customers' payments anywhere in the world instantly, reliably as well as cost-effectively.
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IBM And Stellar Partnership In Jeopardy Amid Exec Disruption

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IBM And Stellar
The IBM and Stellar partnership has been featured on many altcoin news sites and was praised as something that the crypto world needs. However, a series of disruptions have apparently put this partnership in jeopardy, the latest news show. As a company that is always pro technology, IBM (International Business Machines) has been pioneering the adoption of blockchain and cryptocurrency in the Fortune 500 arena for some time now. In order to strengthen its presence, the American firm has teamed up with some of the biggest companies and showed them how its technology can be used to benefit their bottom line - and society as a whole. The IBM and Stellar partnership was one of the examples of further innovation in the crypto and blockchain spaces. However, it all changed when a recent exclusive from a crypto-friendly news site known for its "scoops" and interviews showed that IBM has just lost its chief technology officer - Stanley Yong. Yong acted as the company's lead for its central bank digital currencies (CBOC) initiative. As reports in the coming altcoin news show, he was integral to the "Big Blue's" ventures in the blockchain space. Now that he is gone (along with his connections), the IBM and Stellar partnership is in clear jeopardy. Most importantly, no one knows why Yong left or where he is headed next. However, the latest cryptocurrency news show that IBM is concerned  - as well as many other involved parties. https://twitter.com/arrington/status/1140297606431510529 Aside from Yong, the IBM and Stellar partnership is also concerned by the news (from weeks ago) that Jesse Lund, the Global Head of IBM Blockchain who made a $1,000,000 Bitcoin price prediction, suddenly departed the firm. Both Lund and IBM gave very immaterial and confusing statements, with the former stating that he had left “but am still optimistic about payments innovation using Blockchain.” With all of this in mind, the IBM and Stellar partnership is definitely in jeopardy. Anonymous news sources show that there is no one to laud the projects and lead the company and partnership in the right directions.  Still, the good news is that IBM is unlikely to shutter its blockchain division because of the executive departures.
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South American Online Marketplace Works With Facebook On Its Crypto Project

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The latest cryptocurrency news show that Facebook is working with one South American online marketplace named Mercado Libre while developing its upcoming Libra cryptocurrency project. According to a cryptocurrency news website and its reports on June 14, the two firms are working alongside in pushing the Libra into life and giving the crypto community its much-expected project. According to the news outlet, an executive from the South American online marketplace Mercado Libre said that the purported cryptocurrency is apparently going to be integrated in the e-commerce platform as a form of payment. Even though the anonymous executive confirmed the partnership, there is no statement by Facebook in the altcoin news with details on the case. The executive also said that it was likely that the company could operate as a node in Facebook's forthcoming blockchain network. Right now, Mercado Libre is one of the most popular South American online marketplace websites and e-commerce platforms in South America with operations in 19 countries. As another recent report shows, the testnet for Facebook's Libra platform is to be unveiled later this week. The platform has reportedly gathered support from dozens of firms such as Mastercard, Visa, Uber and PayPal. Another report by The Block shared by many best cryptocurrency news sites stated that a consortium has been formed to govern the project. This consortium, will apparently include organizations such as venture capital firms including Andreessen Horowitz and Union Square Ventures, the crypto exchange Coinbase as well as non-profit organizations including Mercy Corps. A while ago, an RBC Capital analyst named Mark Mahaney and Zachary Schwartzman said that Facebook's Libra stablecoin is going to be one of the most significant events in the company's history. According to him, the project would "unlock new engagement and revenue streams." The South American online marketplace Mercado Libre has about 4,000 employees and is right now the most popular e-commerce site in Latin America in terms of its number of visitors. However, the executive has asked not to be identified and could not say with certainty about the news. Still, he admitted that "it is very likely that yes" and noted that negotiations have been made directly by the first step of the company.  
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