Altcoin News
PayPal Leads New $4.2M Funding Round For Crypto Platform

The payment processor PayPal leads what is seen as a $4.2 million funding round for the cryptocurrency risk management platform TRM Labs. With this, the payment processor proves that it is active in the cryptonews and wants to back as more startups as possible.
As a November 19 press release by TRM Labs shows, the company managed to secure $4.2 million in an investment round led by PayPal with participation from other top investors, too. These include the names of Initialized Capital, Blockchain Capital and Y Combinator.
As PayPal leads the funding round, we can see that TRM was founded in 2018 and aims to support financial institutions across the United States, Latin America, Asia and Europe by measuring, monitoring as well as mitigating their cryptocurrency risk exposure. This is how the platform wants to meet the regulatory requirements and help streamline their Anti-Money Laundering compliance.
The CTO and co-founder of TRM Labs named Rahul Raina said that PayPal leads with the investment – and that this is proof that the company’s “continued commitment to ensuring safety and compliance as the digital payments landscape evolves and innovates.”
The new funding by TRM also brings their total amount raised to $5.9 million and will enable the company to grow its engineering and data science teams, expand into new markets as well as increase the product development.
“At TRM, we are fueled by a fundamental belief that cryptocurrency and blockchain can democratize access to financial services and empower billions of people. By building solutions to prevent cryptocurrency fraud and financial crime, we enable this vision and build a safer financial system for billions of people,” said Esteban Castano, the co-founder and CEO of TRM Labs.
The blockchain news earlier showed that TRM secured $1.7 million from Blockchain Capital this January. Now that PayPal leads the way with another investment, the number is at $4.2 million and “many strategic angel investors” already participate in the rounds, reports show.
Meanwhile, updates from the market show that today’s market cap is at $222 billion, still dropping but not that strongly when compared to yesterday’s levels. Bitcoin (BTC) is still below $8,200 while Ether (ETH) is struggling to push through the $180 mark.
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Altcoin News
First-Ever Collectible Crypto Coin Will Be Issued In 2020

“This innovative coin will feature the signatories due to their significant role in the country’s history and contribution to the restoration of our independence.”He also said that the project will be a source of invaluable experience and know-how in the processes of creation cryptocurrencies for the Bank of Lithuania. This may be the first step for Lithuania if it wants to insert itself in the race for cryptocurrency emitting by the central bank, in which the undisputed leader in China where a pilot scheme has already been planned.The announcement added that it is expected to have encouraging effects on younger people in coin collecting as a consequence of the token, and also it can be an innovative way of introducing them with cryptocurrency and blockchain technology. The collectible crypto coins will be sold exclusively on the digital store of the Bank of Lithuania and it will not represent a legal tender.The collectors will get six random coins and will have the opportunity to exchange them for a physical silver coin after one from all of the six categories will be collected. The value of the physical coin will be symbolic of 19.18 euros representing the iconic date in the national history of Lithuania. A YouTube video portraying the launch displays the collectible coins as square tokens, probably with the symbolism of their place on the blockchain. The silver token will be the size of a credit card, and also will depict the Act of Independence and its signatories.The announcement stated continually that this commemorative action is an instrument in assisting the implementation of the Bank of Lithuania’s strategic direction in the sector of innovation and fintech. It has the aim to assist local and global businesses enriching their knowledge of blockchain and the comfort that cryptocurrencies afford.
Altcoin News
Verge Backtracks Losing Over 15% Before Scheduled Hard Fork

Altcoin News
MATIC Collapses 70% In Less Than Hour Showing Liquidity Issues

“They did a shitcoin airdrop today, then the usual sell the news happened but for the first time we had margin trading on an illiquid Binance book in place to cause a cascade.”The MATIC network was one of the binance initial exchange offerings and it seems that the exchange can inadvertently take life as well as inject it into the altcoin itself. According to announcements, it was pitched to be the next greatest thing in blockchain by offering the layer 2 scaling solution that achieves scale by utilizing sidechains for the off-chain computation. Right now, the token price is scaling rapidly in the wrong direction.Another theory for the collapse is that a few MATIC addresses hold about 99 percent of the supply which could lead to massive manipulation if there is a coordinated liquidation. In terms of market cap, the amount dumped equates to more than $60 million some of the other theories include that there is a massive pump and dump, at least according to crypto trader ‘’Welson’’
“This is why it’s never a good idea to FOMO into a shitcoin, especially when the owners have 90% of the supply. Once they’ve manipulated prices to a high level, they will sell everything and have the buyers be left holding the coins for life.”The crypto guru Willi Woo stated that 99 percent of the current altcoins on the markets have virtually zero liquidity. For an asset to be tradable it has to have daily volume. MATIC is not the only token that crashed at the moment and the big dump seems to have hit some of the other illiquid cryptocurrencies including Ravencoin and Energi.
Altcoin News
BigTech Companies And Their Crypto Pose A Threat To Global Stability

‘’Where stored value payment products (e.g. mobile wallets) become prominent, a relatively large and potentially mobile pool of funds may be controlled outside the banking system (though often these funds are ultimately deposited with banks)… Furthermore, the greater mobility of this pool of funds compared with the customer deposits may also reduce the stability of bank funding.’’The FSB is not alone in this stance, warning that the BigTech companies and their involvement in crypto assets could destabilize the banks worldwide. Several governments and regulators stated that the Libra crypto project could even affect negatively their ability to control sovereign monetary policies. Such is the level of opposition towards their involvement in digital payments that some of the regulatory stakeholders say their proposed solutions could be domiciled with the mainstream financial institutions. Some of the central banks are also working hard towards the creation of their own national cryptocurrency.The FSB reports also show that BigTech’s payment entry could expand the problems already identified with fintech lending and the new forms of credit could emerge from this trend are untested which have never gone through a complete financial cycle. The server credit crunch coincides with the proliferation of BigTech payment projects which could end up with negative economic consequences. The FSB is also keen on closely monitoring on Libra's crypto project as well.
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