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USD Coin [USDC]: 1.1 million USDC minted at USDC Treasury in the wake of Brian Armstrong’s tweet

Usd coin [usdc]: 1. 1 million usdc minted at usdc treasury in the wake of brian armstrong’s tweet

USD Coin [USDC]: 1.1 million USDC minted at USDC Treasury in the wake of Brian Armstrong’s tweet

Usd coin [usdc]: 1. 1 million usdc minted at usdc treasury in the wake of brian armstrong’s tweet

The cryptocurrency market saw its fair share of controversies over the past two weeks, with the revelation of the Bitfinex-Tether drama and speculations that Brian Armstrong was shilling USD Coin [USDC].

WhaleAlert, a cryptocurrency data aggregator, recently broke another twist to the USDC tale after it revealed that over 1 million USDC were minted at the USDC treasury. WhaleAlert stated that the Ethereum-based cryptocurrency had a timestamp of May 1, with the address pointing to the USDC treasury. The transaction hash was recorded to be 0xd83ccc57d36b30001d0efbcefb6681943e019199524c84379d2fb4ada4ddf84f and was done on block 7677911.

The large movement of USDC coins came immediately after Brian Armstrong, Chief Executive Officer of Coinbase, stated that it was time for users to accept more “trustworthy” stablecoins, explicitly quoting the USD Coin.

Armstrong’s tweet read,

“With the confirmation that Tether is not fully collateralized, my hope is that the industry graduates to more trustworthy stablecoins, including https://www.coinbase.com/usdc One more piece of reliable infrastructure to help build the open financial system.”

This comment was followed by a lot of proponents in the space calling out Armstrong, with @WhalePanda, a popular cryptocurrency Twitter user, tweeting,

“$USDC isn’t backed 1:1 by cash, it’s regulated, requires KYC/AML and the issuers (Coinbase is one of them) take a lot of fees. It’s actually way worse than Tether… but tell me more about the coin you’re desperately trying to sell this time.”

USDC had a very active week, with another development in its kitty. The cryptocurrency became one of two coins to be integrated with the Matic Network, which was recently invested in by Coinbase Ventures. The blog post by the CEO of Matic Network read,

“We are pleased to announce Coinbase Ventures as our investor in our seed round. This investment is aligned with our goals to achieve adoption through better usability alongside scalability and will help us realize our vision to achieve scale for decentralized applications.”

The post USD Coin [USDC]: 1.1 million USDC minted at USDC Treasury in the wake of Brian Armstrong’s tweet appeared first on AMBCrypto.

Published at Fri, 03 May 2019 05:34:23 +0000

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‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC

Keiser Report host and bitcoin proponent Max Keiser has told CNBC bitcoin Cash is “by definition less secure than bitcoin.”

Keiser Left Unimpressed At Ver’s CNBC Stunt

In a Twitter exchange following the appearance of bitcoin Cash’s Roger Ver on the network’s Fast Money segment, Keiser argued the bitcoin fork “eschews decentralization,” which is a “cornerstone” of bitcoin.

“Bottom Line: BitcoinCash (sic) is, by definition, less secure than bitcoin as it eschews decentralization; the cornerstone of TRUE bitcoin intent and design,” he wrote.

Additionally, use of the ‘bitcoin’ name in this instance is deceitful and borders on outright fraud.

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The comments came in response to CNBC its joining in the debate, questioning why both bitcoin and bitcoin Cash could not coexist simultaneously.

“Do they have to be mutually exclusive? Can’t they both be good? So much division in this world,” it wrote, describing the two chains’ opposition as “sad.”

‘Promoting A Scam’?

Ver continues to enjoy widespread publicity as a bitcoin commentator despite his recent switch to bitcoin Cash and public denouncing of the original bitcoin as a “cripple coin.”

Some of his comments have been especially contentious, these notably including criticism of speaker and educator Andreas Antonopoulos’ net worth in bitcoin.

Commenting on CNBC’s choice of guest meanwhile, Keiser said the network was not guilty of “promoting a scam” referring to Cash.

“Is CNBC culpable in promoting a scam? No, because they make no claims about veracity and integrity. The market is an amusing cockfight they cover – without journalistic standards – for bored hedge fund managers,” he retaliated, suggesting viewers instead watch his own Keiser Report for “informed bitcoin analysis.”

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bitcoin Cash continues to post relatively flat growth in the face of bitcoin’s rapid ascent to $17,000. Nonetheless, the project has a huge marketing presence on social media, with dedicated advocates appearing to infiltrate almost any discussion bringing up aspects of bitcoin’s current status.

What do you think about Max Keiser’s comments on bitcoin Cash? Let us know in the comments section below!

Images courtesy of Wikimedia commons, Twitter

The post ‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC appeared first on Bitcoinist.com.

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