Cryptocurrency

Facebook's new cryptocurrency, Libra, explained

Facebook's new cryptocurrency, Libra, explained

This week Facebook finally took the wraps off Libra, its new cryptocurrency, that will allow users to buy things online, send money with minimal fees and eventually, interact with offline businesses. It’s a digital cryptocurrency, but unlike Bitcoin, it can’t be mined and will remain at relatively the same value — making it prime to be used as a currency in countries where banks aren’t common.

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The SEC is suing Kik over its crypto ICO

Kik Interactive is being sued by the US Securities and Exchange Commission over its 2017 initial coin offering that raised $100 million in what the agency says is unregistered securities. $55 million was raised from US investors, according to the SEC statement released this week, which alleges that the one trillion tokens sold count as a security and therefore, should have been registered with the government.

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The Bitcoin bubble has finally popped

The Bitcoin bubble has finally popped

With every economic boom comes the theory that a crash is impossible — a bubble, as most call it — that leads most people to believe that it’s permanent. In October, 1929, economist Irving Fisher wrote in The New York Times that stocks had “reached what looks like a permanently high plateau", only days before the beginning of the Great Depression. Most recently in 2017, John McAfee wrote on Twitter that “those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain”, while the value of Bitcoin now hovers at less than $4,000 USD.

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