Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Submit PR
  • Advertisement
  • Contact

Altcoin News

Researcher: Winklevoss Twins Could Freeze The Gemini Dollar (GUSD) At Any Time



In today’s crypto news, there has been a lot of talk about the new dollar-pegged stablecoin founded by the Winklevoss brothers – the Gemini dollar (GUSD). This stablecoin was created in a way to regularize cryptocurrency as a mainstream asset class. However, a lot of analysts and researchers have had their say on its future.

According to one blockchain researcher named Alex Lebed, the Gemini dollar smart contract includes a provision that allows its “custodian” – to freeze any account. Lebed wrote his thoughts in the tech publication Good Audience and noted that GUSD uses an ERC20PRoxy contract that gives Gemini as its custodian a full ability to upgrade the contract once in every 48 hours. This could potentially give people behind the GUSD the power to simultaneously render all tokens non-transferrable.

Even though Cameron and Tyler Winklevoss repeatedly touted GUSD as the first “trusted and regulated digital representation of the US dollar,” it is not surprising that Gemini could have included a mechanism to allow it to freeze funds.

The Gemini dollar whitepaper, however, argues that issuing a cryptocurrency which is tied to physical assets stored in a centralized location involves some element of trust. As the paper outlines:

“Desirable outcomes in a system that relies (at least in part) on trust requires oversight. In the context of a stablecoin, we submit that the issuer must be licensed and subject to regulatory supervision. From this, transparency and examination become requirements of the system, ensuring its integrity and engendering market confidence…. Gemini operates under the direct supervision and regulatory authority of the New York State Department of Financial Services and is subject to the New York Banking Law and other applicable U.S. laws and regulations.”

However, according to the NYFDS, Gemini and Paxos (the two new stablecoins) must:

“Implement, monitor and update effective risk-based controls and appropriate BSA/AML and OFAC controls to prevent the Gemini Dollar or Paxos Standard Token from being used in connection with money laundering or terrorist financing.”

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at

Continue Reading

Altcoin News

Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?

The latest digital currency news show that the Bitcoin Cash (BCH) hard fork is now completed and that BCH successfully activated its second scheduled semi-annual hard fork since splitting away from the original Bitcoin blockchain. However, unlike the previous upgrades which brought a lot of positive news, this fork was contentious and the development teams that launched it are still competing, pointing out to their incompatible BCH implementations. There were two groups with different beliefs about the fork. The first one was the Bitcoin Cash ABC team which had support from most node operators as well as investors and companies such as Roger Ver ( and Jihan Wu (Bitmain). The other group was the one cheering for the Bitcoin Cash SV altcoin and trying to prove that it has better features than BCHABC. Strictly speaking, there could have been three versions if any miners decided to continue mining according to the pre-fork consensus rules. However, all of the hashrate migrated to one or the other of the two new rulesets, killing off the original chain. Currently, according to BitMEX Research, both sides are mining at a loss of at least $280,000 per day relative to the value of the coins (or more) which will put pressure on profit-motivated miners to cut their losses and switch to BCHABC or BTC.
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.
Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
Continue Reading

Altcoin News

A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling

Over the last 24 hours, we saw another drop as monitored on our DC Forecasts crypto news site. The prices of Bitcoin as well as many altcoins combined lost $4 billion in total, reducing the total market cap once again to a number of $181 billion. After what seemed like one of the worst single-day corrections that occurred last Thursday (November 15th) and where the crypto market saw a wipeout of more than $27 billion, the drop is extending. Bitcoin Cash is one of the main sufferers here. Even though the fourth largest altcoin forked into two new cryptocurrencies named Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC), it managed to fall by more than 7%. Before the fall, Bitcoin Cash managed to drop by more than 15% to $250. Currently, analysts are asking if the $4,800 margin is the real bottom for Bitcoin - or it will increase in the coming days. While both major cryptocurrencies and small tokens started to demonstrate independent price movements by breaking their correlation with BTC, a new 12% drop could result in intensified downward movements for cryptocurrencies with lower daily volumes. All in all, the sentiment around cryptocurrencies has been negative this week mostly because of the sheer intensity of the crash of the market in the past few days.
Continue Reading

Altcoin News

‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO

The CTO of Coinbase, Balaji Srinivasan is in a headline on our DC Forecasts crypto news site - mainly because of his recent statement geared towards crypto mining and popularizing at-home crypto mining. In fact Srinivasan decided to back a startup that aims to popularize this form of crypto mining and a business which is called Coinmine. Its service announced pre-orders for the first home miner on Wednesday. As Srinivasan said in the announcement:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”
This is a notable perspective mostly because Srinivasan previously founded which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."
As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Continue Reading

Altcoin News

Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market

The popular cryptocurrency exchange OKCoin is in the crypto news again, this time for its new launch in the Latin American market. A press release has confirmed this move by the exchange, and also confirmed that there will be a new platform launch which will let users trade Bitcoin and other top altcoins against local fiat currencies. As the release notes, OKCoin's expansion to Latin America comes after it became a fully licensed platform for operating in the region. At start, OKCoin will allow users in Argentina to deposit Argentine pesos (ARS) to the platform, which can be traded with top cryptos such as Bitcoin, Bitcoin Cash, Ethereum, Cardano, Stellar, Zcash and 0x. According to the document, OKCoin will also be opening an office in Buenos Aires and setting up a team to "support the business throughout Latin America." As one of the largest cryptocurrency exchanges in China before the region's trading ban, OKCoin has been expanding at a rapid pace (outside China, of course). In January, the exchange launched a platform in South Korea and entered the United States with fiat-to-crypto offerings in July 2018. Currently, OKCoin supports USD trading and is present in over 110 countries. As the CEO of OKCoin USA Tim Buyn believes, this is just the beginning of the expansion.
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.
He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
Continue Reading


For Updates & Exclusive Offers
enter your email below


Join us on Facebook

Recent Posts



03dec(dec 3)8:00 am04(dec 4)6:00 pmDigital Currency Con8:00 am - 6:00 pm (4) Sheraton New Orleans Hotel, 500 Canal Street, New Orleans, Louisiana 70130 USA

wed05dec9:30 am5:30 pmDigital Asset Investment ForumExploring the Emerging Asset Class​.9:30 am - 5:30 pm The St. Regis Washington, D.C, 923 16th and K Streets, N.W., Washington, District Of Columbia 20006 USA

06dec(dec 6)8:00 am07(dec 7)4:00 pmCryptocurrency World Expo London Summit8:00 am - 4:00 pm (7) CINEWORLD CINEMA - GREENWICH, The O2, Peninsula Square, London SE10 0DX

thu06dec10:00 am6:00 pmBlockchain Conference Philippines10:00 am - 6:00 pm HOLIDAY INN HOTEL & SUITES MAKATI, Glorietta Mall, Palm Drive, Ayala Center, Makati, 1224 Metro Manila, Philippines

tue11dec8:00 am6:00 pmAtlanta Blockchain ExperienceA Unique, Kick-Off Event Focused on Blockchain Adoption, Use Cases, and Building Your Network!8:00 am - 6:00 pm The Monday Night Brewing GARAGE, Atlanta, GA


Trending Worldwide