Coinbase trading services for the USD coin (USDC) are now available for customers in 85 more countries according to the official blog post posted on May 14. The latest cryptocurrency news will share a part of the blog post.
The United States crypto exchange titan announced a major global expansion and now serves 103 countries in total. Along with the USDC announcement, the platform also added 50 more jurisdictions to its coverage including countries such as Taiwan, South Africa, and Brazil.
The crypto exchange added that they will move further to help speed up the mainstream adoption process of crypto trading. The USD Coin is the first stablecoin to be listed on the Coinbase platform. The exchange initially listed USDC back in 2018 in October for customers in chosen jurisdictions in the United States. The company pointed out:
“For new customers in countries like Argentina and Uzbekistan, where consumer prices are expected to inflate by 10–20% in 2020, stablecoins like USDC could provide an opportunity to protect against inflation.”
USDC was launched in 2018 at the end of the autumn according to the best cryptocurrency news sites, along with the crypto finance startup Circle. The CENTRE consortium developed the coin in order to ease the transfer value on the public blockchains:
“Crypto assets and blockchain technology will enable us to exchange value and transact with one another … instantly, globally, securely and at low cost.’’
By adding the Coinbase trading services in the 85 new jurisdictions, the company will ‘’improve the lives of people in countries where inflation is eroding wealth.’’ The platform also noted that stablecoins such as USDC will provide an opportunity to protect the citizens of high inflation in countries such as Uzbekistan, Argentina, and others where the prices are expected to inflate further up to 30 percent by 3030.
At the start of the week, a Coinbase-backed startup dubbed Reserve announced that it would soon launch its Venmo-styled app in Venezuela for crypto to fiat payments. The goal is to target this country in particular in order to help the citizens with ever-growing inflation. The stablecoin is also a digital currency which has a minimal due to its 1:1 peg to a certain fiat currency. There are about 350 million USDC circulating currently.
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Fake Trezor Crypto Wallet Emerges On Google Play Store
“If bitcoin continues its growth trend, we can expect more cryptocurrency scam apps to emerge in the official Android app store and elsewhere.”As mentioned on other altcoin news, the users of the apps are urged to only trust a legitimate app with the company’s official website links and branding. They should also check for a regular update on their devices and ask around before entering sensitive information into any blank space. Also, they are urged not to complete online forms that come from apps that have a dubious background. The company behind the crypto wallet told the researchers that the fake app was not a threat to their users but they also made clear that the addresses that some of the users provided could be collected through the software and used for phishing attacks in the future. Google Play removed the app instantly from the marketplace. Last year, Trezor issued multiple warnings to users after scammers tried to make a counterfeit version of the wallet.
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"I won, but the case was very damaging. First, Sequoia took out an injunction against me which prevented me from raising finance for Binance at the end of 2017 which was a critical time in the market and when there was huge interest in Binance from other VCs and investors."Zhao stated previously that he was unable to publicly defend himself because of the confidentiality of the arbitration. Also, Sequoia paid about $2.4 million in legal fees for their part and lost the case. Zhao on the other hand as the best cryptocurrency news report had to pay up to 779,043 for more than a year to cover his legal expenses. He stated:
"For most entrepreneurs, they will not be able to: front USD 779,000 to fight a lawsuit; secure additional funding for their startup given a pending lawsuit, even one that’s clearly without proper base and where the claimant will surely lose.’’Zhao concluded that there is a weakness in the legal system and unprofessional behavior by the VC giant. He noted that such companies should help entrepreneurs and startups. Luckily, there are many entrepreneurs today that offer better options such as blockchain based fundraising as he pointed out. Sequoia did not comment but as we know the company sued Zhao’s company over a funding deal. The court filings show that there was a negotiation on investment between CZ and Sequoia since August 2017 which should have given the VC giant 11$ stake of the company. Zhao denied these allegations at that time.
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