Cryptocurrency exchange Bitfinex is now listing two tokens from the exchange OKEx: its native utility token OKB and the stablecoin USDK, according to a press release on June 12. Bitfinex will offer trading pairs with the new tokens and other significant fiat and digital currencies like U.S. dollars, bitcoin (BTC), EOS, tether (USDT) and ether (ETH). The native utility token OKB is designed to let OKEx users carry out a variety of functions on the exchange, including settlement of trading fees, the ability to construct a partner exchange, and subscription for tokens on OK Jumpstart — one of OKEx’s token …

The biggest cryptocurrency, bitcoin (BTC), has hit an all-time high versus the Argentine peso amid the ongoing decline of the currency, Financial Times (FT) reports on May 27. According to the report, the bitcoin price has soared to as high as 394,000 pesos ($8,762.95 at press time) per coin, exceeding prices versus the Argentine peso not seen since the bubble in late 2017. Bitcoin price against Argentine peso since 2017. Source: BitcoinAverage The new all-time high of bitcoin versus the peso takes place amid a crypto bull market this year, along with the ongoing depreciation of the Argentine peso against …

Crypto lender Dharma has begun supporting the peer-to-peer lending of USDC, The Block reported on May 22. Before now, the San Francisco-based company only supported Dai, a stablecoin backed by ether (ETH) that has been regarded as too risky by some investors due to its design, according to Max Bronstein, the company’s business development manager. As USDC is backed by the United States dollar, Dharma hopes that it will be able to attract mainstream investors to its decentralized platform. Bronstein told The Block that adding USDC could enhance the platform’s liquidity, adding: “People who need to get in and out …

Cryptocurrency research firm Diar indicates that the market capitalization for USD stablecoins has hit all-time highs and exceeded $4 billion, according to its latest weekly report published on May 21. Stablecoins tied to the greenback have broken through to a market cap of almost $4.3 billion, according to Diar’s data. The report also reveals a surge in USD stablecoin trading volumes, with Circle and Coinbase-backed USD Coin (USDC) posting a 130% uptick in volume between April and May, so far this month hitting $3.6 billion (as compared with $1.6 billion in April). As Diar notes, USDC’s trading volume increase since …

Goldman Sachs-backed crypto finance startup Circle has published the latest third-party audit of its USD-pegged stablecoin, USD Coin (USDC). The company reported the update in a blog post published on May 17. USD Coin is an Ethereum-based token compliant with the ERC20 standard that was first announced in May last year and released in September. Per this week’s announcement, the audit of the coin’s fiat reserves was conducted by major Chicago-based accounting firm Grant Thornton LLP. The report released by the firm states that as of April 30, 2019 at 11:59 p.m. Pacific Time there were 293,184,174 USDC issued, and …

Venezuela is considering to close mutual trade settlements with Russia using the ruble, Russian government-backed TV channel RT reports on May 17. Venezuela’s representative to the United Nations in Geneva Jorge Valero said they are also discussing uses for the state-owned Petro (PTR) cryptocurrency. Valero reportedly revealed that Venezuelan authorities are now working with Russia to find opportunities for eliminating the use of the United States dollar in trade deals between the two countries. As such, the two countries' authorities are purportedly mulling the use of the Russian ruble, as well as Venezuela’s oil-backed Petro digital currency, a controversial project …

Cryptocurrency derivatives trading platform BitMEX claims that on average, its users don’t use the maximum 100x leverage that the platform offers. BitMEX reported on the data in a post published on its official blog on May 15. According to the post, the company’s co-founder and CEO Arthur Hayes had the data science team of the exchange pull up historical data on the average leverage usage for the bitcoin (BTC)/United States dollar perpetual swap. Hayes stated that the data obtained this way show that “traders are quite ‘responsible’ in that they do not on average use the maximum amount of leverage.” …

Algorithmic cryptocurrency trading firm GSR announced the launch of a new bitcoin (BTC) halo option derivative in a Medium post published on May 13. Per the announcement, the new derivative is an option on the value of a trading account. The trader reportedly pays a premium upfront to buy the option, and the trading account starts with a value of zero. The holder is permitted to do 10 trades per day in the BTC/USD market until maturity. When the option matures, if the value of the account is positive, the holder receives that value: if it is negative, he or …

The company behind the Paxos Standard (PAX) stablecoin announced that its users can now instantaneously redeem unlimited amounts of its tokens for United States dollars. The development was described in a blog post published on May 13. Per the announcement, every PAX deposited on the company’s platform can now be immediately sent as USD to a bank account without minimal redemption requirements or fees for deposits or withdrawals. The company claims: “We launched PAX with a 1 day redemption window, which was groundbreaking. Then we moved to four-hour windows. Now, we’re setting precedence again by offering immediate redemptions today. ” …

United States Congressman Brad Sherman (D-CA) has called on colleagues to outlaw cryptocurrencies, saying they threaten to disempower American foreign policy and diminish the rule of law. Crypto-oriented non-profit Coin Center tweeted the remarks of the congressman, a Democratic representative for California's 30th congressional district, on May 9. In his comments, Rep. Sherman said that lawmakers must act preemptively to impede the threat posed by cryptocurrencies and thus outlaw their purchase by American citizens. Crypto’s threat, he claimed, forebodes no less than a shake-up of America’s geopolitical influence due to its potential diminishing of the power of its sovereign currency: …

A platform has launched a leveraged bitcoin contract-for-difference (CFD) product, enabling traders to speculate on the cryptocurrency’s price movements against the Japanese yen and United States dollar. Liquid says demand for crypto derivatives is rising and believes these financial products have the potential to enhance awareness about the many hundreds of coins and tokens in the marketplace today. Crypto derivatives are gaining popularity because of how they can help protect traders against volatility in the marketplace. When it comes to futures, traders may benefit from being able to buy or sell crypto at a preagreed-upon price on a fixed date …

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