From the crypto industry’s reaction to President Trump’s stance on Bitcoin to new support for Tron and BitTorrent Token, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
The CEO of the Goldman Sachs-backed crypto exchange Circle says President Trump’s revelation that he’s no fan of Bitcoin may be the biggest bull signal in BTC’s history.
Jeremy Allaire says Trump’s tweetstorm is placing Bitcoin on the global stage like never before and will ultimately lead to a larger discussion and embrace of digital assets.
Possibly the largest bull signal for BTC ever. Crypto now a Presidential / Global policy issue. People everywhere will embrace a mix of sovereign and non-sovereign digital currency. https://t.co/PK79wmCddM
— Jeremy Allaire (@jerallaire) July 12, 2019
The CEO of the San Francisco-based crypto exchange Kraken is also weighing in.
Jesse Powell points to the strengths of cryptocurrencies and says they are far more traceable than fiat.
Mr. President, one could say the same of unregulated fiat currencies, like the privately operated US dollar. The advantage of cryptocurrencies is that they are predictable and transparent. Regulated or not, useful tools can be used for good and evil. Don't let the US fall behind.
— Jesse Powell (@jespow) July 12, 2019
The New York-based exchange Gemini also responded, highlighting a recent quote from its co-founder Tyler Winklevoss, comparing the current monetary system to the mechanics that power Bitcoin and cryptocurrency.
“We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” – @tylerwinklevoss
— Gemini (@Gemini) July 12, 2019
Ethereum
The latest edition of the Into the Ether podcast is out.
Host Eric Conner talks with the co-founder and CEO of TokenCard Mel Gelderman about the company’s long-term vision of creating a self-sovereign banking service on Ethereum.
Ripple and XRP
The founder of Ripple-backed XRPL Labs is cautioning traders who think the company’s XRP-based banking app called XUMM will have an immediate impact on the price of the digital asset.
In a series of tweets, Wietse Wind says the app will have a slow roll out and its potential impact will be gradual.
“Yes, I do believe what we are building is going to be one of the many things that potentially help grow the ecosystem, utility, use cases, etc. But, people expect XUMM to ‘do something for the price.’ Like, immediately. A big bang.
When it comes to XUMM, I can ensure you there will not be a big bang. People will install, setup, try and keep on holding. Meanwhile we will work on updates, licenses and development and recipient and partner implementations so there are actually places to pay using XUMM.”
Then, bit by bit, if everything goes the right way: slowly growing amount of users, payments, DEX exchanges, liquidity, … and THEN it may just have an effect. But it will be almost impossible to trace it back to XUMM: it's simply more usage, more liquidity, more demand. (5/…)
— Wietse Wind { 𝚡𝚛𝚙𝚕𝙳𝚎𝚟: 𝚝𝚛𝚞𝚎 } (@WietseWind) July 10, 2019
Litecoin
The Litecoin Foundation continues its unique efforts to raise funds and support the LTC ecosystem.
The Foundation has released a new t-shirt celebrating the upcoming Litecoin halving, which will cut the reward for mining on the blockchain from 25 coins to 12.5 coins.
Announcing the 2019 Litecoin halvening t-shirt – created in collaboration with @helloluis!
Get it here: https://t.co/sqsPjB7jMu
On sale for a LIMITED time only, so get it quick. pic.twitter.com/9Ryy8PGCtH
— litecoin (@litecoin) July 12, 2019
Tron
The London-based crypto exchange CEX.io has listed Tron (TRX) and BitTorrent Token (BTT). Both coins are paired with the US dollar, the euro and Bitcoin.
TRON (TRX) and BitTorrent (BTT) have been listed on https://t.co/OPoleqNuJO!
Read more about these two TRON-based coins (and partner projects) that aim to decentralize the web: https://t.co/jLDkuA03rJ#TRX #cex pic.twitter.com/P21Q7RPKOI
— CEX.IO (@cex_io) July 10, 2019
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