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Facebook to unveil Global Coin in June, Ripple listed on Swiss commercial registry and more

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Crypto News – 06 June

23 million XRP stolen from users on GateHub

Thomas Silkjær, the creative director at 2K/DENMARK, outlined a “potential security breach” at GateHub might have caused users to lose approximately 23 million XRP

Read more at https://bit.ly/2IoJS7p

Ripple: XRP gets push in Philippines

Recently, Ripple got a green signal to push its in-house digital asset, XRP, to the Philippines. The move was made possible following the SendFriend partnership that was announced earlier this year

Read more at https://bit.ly/2ETHZyI

Monero’s Spagni takes a shot at Craig Wright

Monero’s project lead and host of Magical Crypto Conference, Riccardo Spagni, took a quick jab at Craig S Wright. This was in response to Craig S. Wright article detailing how “Monero and other mixed coins are engaged in the activity of money transfers and money handling”

Read more at https://bit.ly/2HYRxdH

Bitcoin [BTC] least volatile

According to an analysis by Ceterius Paribus, Bitcoin remains the least volatile among seventeen of the top cryptocurrencies in the market, while Bitcoin Cash is on the opposite end of the spectrum

Read more at https://bit.ly/2HXzgxo

Augur [REP] on defeating its largest attack

The developer team behind the project has released an official blog titled, ‘Defeating Augur’s Largest Attack,’ detailing the exploit and the fix for it

Read more at https://bit.ly/2XpRDAs

Bitcoin [BTC] corrupt as it’s creation of man, says analyst

“Bitcoin is a store of value,” stated Chris Mancini, an Analyst at Gabelli Gold Funds. However, Mancini remarked that the coin was corrupted because it is a “creation of man”, unlike gold, which is a “creation of God.”

Read more at https://bit.ly/2ZdIWd4





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ErisX goes all hands on deck to launch a Bitcoin Futures market

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ErisX goes all-hands on deck to launch a Bitcoin Futures market
Source: Unsplash

ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





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