Tuesday, September 11, 2018

New Stablecoins / Dogecoin Volume / Ripe.io Funding

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Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. Gemini Trust and Paxos have received permission from New York State to launch stablecoins. Gemini Trust, the exchanged founded by the Winklevoss twins, will launch Gemini Dollar (GUSD), while Paxos will create Paxos Standard (PAX). The coins will be pegged at a 1:1 ratio with the US dollar. Tether was the first stablecoin when it was created in 2014, but since then other stablecoins have been created as well. They have come under criticism, though, as potential tools for money laundering. –BITCOIN MAGAZINE

Winklevoss twins, Paxos, create new stablecoins
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2. Dogecoin – yes, dogecoin – had the third-highest adjusted trading volume over a recent 24-hour period. The coin that started as a joke trailed only bitcoin and ethereum in volume. The surge came after developers released the coin's long-awaited ethereum bridge. During that period, dogecoin's volume was three times more than bitcoin cash, eight times more than litecoin and 13 times more than Dash. "Dogecoin may have started as a joke, but their community is now the envy of the crypto world," said cryptocurrency research Kevin Rooke. -BITCOINIST

Dogecoin dramatically jumps in trading volume
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3. Alibaba and IBM each hold close to 100 blockchain-related patents, the most of any private-sector company. Mastercard came in third on a list from iPR Daily, while Bank of America was fourth with 53 patents. IBM is likely to take over the top spot soon. The company recently signed a 5-year contract with the Australian government to integrate blockchain into security and automation, likely increasing the number of innovations it will want to patent. –INVESTOPEDIA

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4. Ripe.io recently closed a $2.4 million funding round. The startup wants to use blockchain and the Internet of Things to improve the transparency of the food system. The investment came from Maersk Growth, the capital venture arm of the Danish shipping container conglomerate Maersk, and Relish Works, a Chicago-based food innovation hub. –FORBES

Ripe.io closes $2.4 million funding round
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5. CoinIQ provides an in-depth look at zero fee exchanges like Robinhood and Abra. While these exchanges market themselves as not having fees, that is not really the case – they just do a good job of hiding them. –COIN IQ

6. Speaking of stablecoins, an analyst believes they are inherently flawed. Even though stablecoins are tied to an asset, they do not help the stability of the cryptocurrency market. –THE GUARDIAN

7. The human side of the bitcoin crash: CNN looks at a man that lost 96 percent of his initial investment. "It was devastating, quite traumatic, really," the story's subject, who tried to hedge bitcoin losses with investments in bitcoin cash, ethereum, and ripple, said. –CNN

8. Trading in bitcoin futures volumes has dropped significantly. Volume is down 29 percent in the past week and down more than 72 percent since last month. – MARKET WATCH

9. The drama over bitcoin core continues. Redditors discuss a recent "debate" between Jimmy Song and Roger Ver that didn't go well. –REDDIT

10. First Block Capital, Canada's lone regulated bitcoin fund, has obtained mutual fund trust status. This allows investors to put their fund unit in self-directed accounts. –COIN TELEGRAPH

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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