Libra members waver / Bakkt futures drop 79% / BitPay to add support for XRP

Inside Bitcoin presented by Audible.

Presented by Subscribe | View in browser Market Watch: The market is still recovering from last week's sharp decline in value. The launch of the Bakkt Bitcoin futures contracts isn't helping either, with reports stating that contracts traded were down 79% yesterday. Bitcoin: $8,310 (⬇️ 0.69%) // $149.3 billion market cap. Ethereum: $178 (⬇️ 0.87%) // $19.2 billion market cap. XRP: $0.248 (⬇️ 2.75%) // $10.7 billion market cap. Tether: $1 (⬆️ 0.06%) // $4.1 billion market cap. Bitcoin Cash: $225 (⬇️ 1.16%) // $4.06 billion market cap. Top 100 Winner: Zilliqa: $0.005 (⬆️ 14.15%) // $50.7 million market cap. Top 100 Loser: Crypterium: $0.643 (⬇️ 18.31%) // $54.5 million market cap. Prices are as of 10:50 a.m. EDT.       1. Mastercard, PayPal, Stripe, and Visa are questioning their future with Facebook's Libra. According to people familiar with the matter, the four are hesitating over whether to officially sign on to the Libra Association, which is projected to meet in Switzerland on October 14. The association is asking for the 28 founding members to reaffirm their commitment to the project; however, the four companies are unsure whether to proceed fearing to do so could impact positive relationships with regulators. Since Libra was announced in June, it has faced major backlash from global regulators. As a result, Facebook has said that the proposed stablecoin won't be "made available in a timely manner, or at all." –BLOOMBERG       2. The number of traded contracts on the Bakkt Bitcoin futures exchange dropped by 79 percent yesterday. Posting a summary on Twitter of the platform's traded contracts that occurred yesterday, only 28 BTC were reported. This is compared to 132 the previous day. It's all-time high, so far, has been 166. These less than promising figures come at a time when there was plenty of hype around Bakkt prior to its futures launch. Now, though, rather than bringing in large institutional money, it appears that the exchange is struggling to maintain the momentum is previously had. –BE IN CRYPTO       A MESSAGE FROM AUDIBLE Start listening with a 30-day Audible trial and your first audiobook plus two Audible Originals are free. Explore all the ways listening on Audible can help improve mind, body, and soul with entertainment, information, and inspiration. Sign up at audible.com/insidenews for your 30-day Audible free trial.   3. Blockchain payments provider BitPay plans to add support for XRP by the end of this year. In order to implement XRP, BitPay is working with Ripple's Xpring unit. The goal is to encourage businesses and merchants to accept the altcoin. According to Xpring senior vice president Ethan Beard, they are hoping to target crypto and non-crypto developers with the platform. The addition of XRP joins support for the likes of Bitcoin, Ethereum, and Bitcoin Cash. BitPay also supports stablecoins USD Coin, the Gemini dollar, and the Paxos Standard Token. –THE BLOCK       4. Leaked documents from an internal Facebook meeting that took place in July show CEO Mark Zuckerberg answering questions from concerned employees regarding its future and its new payment network Libra. During the closed-door meeting, Zuckerberg stated that while the proposed stablecoin had generated strong negativity, behind closed doors talks around it had been straightforward. He added that private discussions with regulators had been "more substantive and less dramatic" than the public hearings. –THE VERGE       A MESSAGE FROM KEEPS Keep more hair on your head and more money in your wallet. Keeps is the easiest way to stop hair loss (and even regrow some of what you've lost). Their FDA-approved treatments are delivered directly to your door in discreet packaging. Plus, at less than $1 a day, keeping your hair has never been more affordable. Get 50% off your first 3 months 5. A fire at a Bitcoin mining farm in China has seen the loss of $10 million worth of crypto equipment. The incident, which took place at a data center operated by Innosilicon on Monday, saw images posted on Twitter of the mining facility engulfed in flames. According to reports, there were some who speculated that the fire was to blame for the drop in Bitcoin's hash rate. –THE INDEPENDENT       6. Crypto platform Binance and hedge fund Polychain Capital are a few big names that are helping to fund a crypto-friendly bank in Malta. Scheduled to open in 2020, the Founders Bank is aiming to provide full banking services for the crypto space, an area many crypto projects struggle to receive. So far, the bank has raised $10 million, but it is hoping to raise a further $30 million in the future. –COIN DESK       7. Munich-based bank BayernLB has published a report on Bitcoin vs. gold, predicting that Bitcoin will jump to $90,000 in 2020. According to the bank, unlike gold, which has had to earn its high stock-to-flow ratio the "hard way," Bitcoin will most likely succeed in the next year. The bank believes this will take place around May after the next halving. –COINTELEGRAPH       8. Madrid buses are turning to the blockchain. Banco Santander is teaming up with blockchain company Vottun to develop a system that will connect all of the city's public transport under one application. Powered by the blockchain, it will mean that the 30 businesses that offer transport services - which require separate registration and payment details - can function under one system. Hoping to streamline the city's transport, the app also intends to improve data security for users. –INTELLIGENT TRANSPORT       9. Icelandic retailer Nordic Store has used the Ethereum blockchain to settle an invoice with e-money after making a purchase through IKEA Iceland. The e-money was issued by Monerium, an Icelandic fintech company, while the transaction used Tradeshift, a global supply chain payments service. However, rather than settling the payment in crypto, it was done with Iceland's Krona. –DECRYPT       10. Altcoin trading platform Coinexchange.io has announced that it's shutting its doors due to financial problems. In an announcement, the organization said that the decision was purely business-related and not the result of a security breach or any other incident. It added that it was "no longer economically viable" for them to continue offering marketing services as the costs involved were now outweighing what it was earning. Trading and deposits will suspend October 15. The website and withdrawals will remain operational until December 1 of this year. –COINEXCHANGE       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Editor: David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).       Ad Start listening with a 30-day Audible trial and your first audiobook plus two Audible Originals are free. Visit audible.com/insidenews Stop your hair loss before it's too late. Get 50% off your first 3 months of Keeps today.

We're Hiring! Learn more. | Sponsorship opportunities Copyright © 2019 Inside.com, All rights reserved. Our mailing address is: Inside.com 767 Bryant St. #203 San Francisco, CA 94107 Did someone forward this email to you? Head over to inside.com to get your very own free subscription! You received this email because you subscribed to Inside Bitcoin. Click here to unsubscribe from Inside Bitcoin list or manage your subscriptions.