A new report by the tech reporter Nathaniel Popper on New York Times (NYT) emerged in the daily cryptocurrency news on April 8, showing that Facebook is seeking support from various venture capital (VC) firms to develop its long awaited digital token.
Citing sources that are familiar with the matter, Popper tweeted that Facebook is seeking a $1 billion sum in order to fund and develop its cryptocurrency project. He also stated that seeking outside investment could help the project a lot and go in line with the crypto community and its decentralized ethos.
“Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.”
Popper also added that the reported project is a stablecoin that would be pegged to a basket of foreign currencies that will be held in bank accounts. The first rumors for the “Facebook Coin” or Facebook’s digital token surfaced last December in a report from Bloomberg when the publication said that the token would be used for money transfers made within the WhatsApp messenger service.
In February 2019, new reports showed that the digital token by Facebook would be usable across the Facebook Messenger App, WhatsApp and Instagram which would give it exposure to some 2.7 billion users each month. According to anonymous sources to NYT, Facebook employed over 50 engineers to develop this new digital token – and started shopping the “Facebook Coin” name around to several crypto exchanges.
When it comes to actual venture capital, the founding partner of Future Perfect Ventures Jalak Jobanputra in February said that the crypto bear market had deeply affected VC firms. When asked if there is a trend of discounted venture evaluations in the crypto space, he said:
“Given how much the volumes have decreased in the last year, I wouldn’t be surprised if we are seeing valuations come down on the secondary markets for some of these companies.”
Epic Surge Adds 10% ($25bn.) To Crypto Market Overnight
Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT"The FOMO (fear of missing out) is high after the epic surge which resulted in a lot of gains. When markets are on fire like they are now, it is very possible that the rally will continue, analysts claim.
BSV Price Surges By 33% Due To A Copyright Application
“If Bitcoin or any other monetary system seeks to act outside the rules, it becomes an outlaw system, and once it does, it is easy to stop,” he stated.However, one of the most realistic theories behind the BSV price pump in the latest cryptocurrency news is the one in which Calvin Ayre (Dr. Wright's close associate) claimed that the US copyright office had accepted the scholar's claim of being Satoshi Nakamoto - the mysterious Bitcoin creator. Nonetheless, the authorities later clarified that anybody could claim the same, stating that they do not recognize “anyone for anything.”
BitTorrent Token Surges 20% After Justin Sun Tweets Latest Announcement
BitMex Research Shows BCH Experienced Two-Block Chain Reorganization
“Based on our calculations, around 3,392 BCH may have been successfully double spent in an orchestrated transaction reversal. However, the only victim with respect to these double spent coins could have been the original ‘thief.’”As the BitMex research explains, the three interrelated issues during the hard fork brought up 25 transactions (moving 3,392 BCH) not being into the reorganized chain which led to the double spend effect. As reported in the latest cryptocurrency news, at that time, Bitcoin Satoshi Vision (BSV) blockchain which is a result of the previous BCH hard fork struggled with the large block size and then a series of block reorganizations happened back in April. At the start of this year, In January, a deep reorganization of the Ethereum classic (ETC) blockchain happened as well which also included double spending and $1.1 million worth of crypto was involved. The report states further:
‘’The largest concern from all of this, in our view, is the deliberate and coordinated re-organisation. From one side of the argument, the funds were stolen, therefore the actions were justified in returning the funds to their “rightful owners”, even if it caused some short term disruption. However, the cash like transaction finality is seen by many, or perhaps by some, as the only unique characteristic of these blockchain systems.’’
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