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A Monday of Links

This is The Block. Market is in another downturn, hinging on a number of negative news reports, but B

The Block

May 14 · Issue #42 · View online
Weekly curated #cryptocurrency news and commentary.

This is The Block. Market is in another downturn, hinging on a number of negative news reports, but Blockchain Week, including Consensus 2018, may bring hope back to traders. It’ll be nice once cryptocurrency doesn’t explode or disintegrate on every positive or negative news cycle, but we’re still in early days yet. We’ll have to continue to deal with wild shifts in sentiment and pricing until regulatory uncertainty eases and the markets get baked into a more consistent rhythm.
Last week saw positive statements made by the SEC in response to ICOs, indicating a willingness to let innovation thrive while still monitoring for fraudulent activity.
Meanwhile, Ripple formally announced cost savings from use of XRapid.
“For payments in the critical remittance corridor between the U.S. and Mexico, financial institutions using xRapid saw a savings of 40-70 percent compared to what they normally pay foreign exchange brokers.”
For XRP holders, this is yet another validation of the technology’s core competency, which is low-cost cross-currency transactions.
Here’s a reminder of how XRapid works, from the same article:
A payment journey with xRapid looks like this: a financial institution connects directly to digital asset exchanges in both the originating and destination corridors. The originating currency is exchanged into XRP which provides the necessary liquidity to power the final payment, and then in seconds that XRP is exchanged into the destination currency in the second digital asset exchange. Once this transaction takes place, the funds are sent out on the local rails of the destination country for payout. The transaction is tracked end-to-end, and the result is a cross-border payment that is cheaper and faster than ever before.
And Facebook is reportedly considering launching its own cryptocurrency. If true, it’s a pretty strong support signal overall.

Coinbase values itself at $8 billion and it seems somewhat clear that Coinbase is positioning itself as a pillar of the future ecosystem of crypto interactions.
Washingtonians can buy Bitcoin from ATMs now.
Mt. Gox trustee sells off another 8,200 BTC. Must be nice to have that kind of scratch.
South Korean exchange Upbit is under investigation by the authorities. For what, exactly, is unclear. Is it a case of fraud or liquidity?
Links of Note
In blockchain we trust
Sitting with the cyber-sleuths who track cryptocurrency criminals
An Open Letter to Banks about Bitcoin and Cryptocurrencies
A crypto-trader’s diary — week 5
Crypto-trading, week 6: diving into altcoins
Bitcoin could flop like VHS competitor Betamax, tech investor Glenn Hutchins says
Millennials Are Buying Cryptocurrencies to Save For Retirement
CBS Gives Cryptocurrency YouTuber His Own Bitcoin Show
CBS Gives Cryptocurrency YouTuber His Own Bitcoin Show – The Merkle
That’s all for today. Thanks for reading!
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