Connect with us

Blockchain

INX Crypto Exchange to Launch $117M IPO Next Week

Avatar

Published

on

INX Ltd. said it will launch its long-awaited landmark initial public offering (IPO) as soon as Monday, capping a nearly two-year journey for the startup cryptocurrency and security token exchange.

The net proceeds would be used to:

The instruments on offer are a hybrid of utility and security tokens.

INX’s sale would mark a milestone for the blockchain industry.

It’s been a long road for the company, whose U.S. operations are led by Executive Managing Director Alan Silbert. (His brother Barry is the CEO of Digital Currency Group, the parent company of CoinDesk.)

Source: https://www.coindesk.com/inx-crypto-exchange-to-launch-117m-ipo-next-week

Blockchain

Ripple Sells Significant Portion of Its Stake in Payments Giant MoneyGram

Avatar

Published

on

Ripple is selling a substantial portion of its stake in MoneyGram for the first time since placing its initial investment in the money remittance giant in June 2019.

According to a document filed by Ripple on November 27th at the U.S. Securities and Exchange Commission (SEC), the fintech startup owns 6.23 million shares of MoneyGram with a warrant to purchase more shares to the tune of 5.95 million.

ADVERTISEMENT


The document reveals that Ripple authorized an undisclosed financial entity to sell four million of its shares in MoneyGram.

After selling, Ripple will still own at least 2.23 million MoneyGram shares and will reserve the right to purchase an additional 5.95 million shares of the remittance giant.

Ripple and MoneyGram entered into a partnership in June 2019 for foreign exchange settlements and cross-border payments. As part of the deal, Ripple made a $50 million commitment to MoneyGram, which it completed in November 2019.

MoneyGram has used Ripple’s services to settle cross-border payments in Mexico, Europe, Australia, and the Philippines in seconds, says MoneyGram CEO Alex Holmes.

“Our partnership with Ripple is transformative for both the traditional money transfer and digital asset industry – for the first time ever, we’re settling currencies in seconds.”

Valued at $10 billion, San Francisco-based Ripple is emerging as one of the fastest-growing fintech companies in the world. The company owns over half of the total supply of the crypto asset XRP. At time of publishing, XRP’s total market cap is $27.8 billion, according to CoinMarketCap.

ADVERTISEMENT


Check Latest News Headlines

ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Follow Us on Twitter Facebook Telegram

Featured Image: Shutterstock/Simikov

Source: https://dailyhodl.com/2020/11/29/ripple-sells-significant-portion-of-its-stake-in-payments-giant-moneygram/

Continue Reading

Blockchain

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Avatar

Published

on

Bitcoin has a way of surprising people. This week was no exception. A few days ago, almost everyone believed that the cryptocurrency is inevitably headed to a new all-time high. And how could they not? BTC was trading at a few hundred USD below the record from back in 2017. Unfortunately, things took a turn for the worst.

Yesterday was undoubtedly a bad day for bitcoin as it plunged a total of around $3,000 in less than 24 hours. From a high of about $19,500 down to $16,200, the bears poked and showed their faces. The entire market lost around $80 billion of its capitalization as altcoins actually had it worst.

During the market dive, Bitcoin’s dominance actually increased, showing that not only altcoins failed to hold their ground, but they dropped harder than BTC. Since then, there has been a slight recovery and at the time of this writing, the primary cryptocurrency is trading at around $17,000.

The move was seemingly propelled by the news that US regulators might seek to require identity verification from crypto wallet providers. Coinbase’s CEO, Brian Armstrong, commented on the matter, expressing his worries that if the new rules are implemented, they would be rather harmful to the users and the industry, in general.

At the same time, the popular cryptocurrency exchange OKEx opened withdrawals for the first time since they were shut down around a month ago, which might have prompted users to cash out the profits that they have been sitting on. In fact, CryptoPotato reported that around $500 million were withdrawn from the exchange as the crash started to take place.

In any case, the results are here, and it remains particularly interesting to see where will bitcoin go from here.

Market Data

Market Cap: $512B | 24H Vol: 181B | BTC Dominance: 62%

BTC: $17,132 (-7.98%) | ETH: $516.86 (+1.71%) | XRP: $0.56 (+74.08%)

Bitcoin Worth $500 Million Withdrawn From OKEx as Users Look for Other Alternative. Data shows that users withdrew a total of 29,300 BTC from the popular cryptocurrency exchange OKEx right after it resumed full functionality. This happened just as bitcoin plunged $3,000 in a matter of 24 hours. The exchange also resumed the withdrawals a day earlier than announced and during the Chinese trading hours.

Bitcoin Black Friday 2020: The Sales You Better Not Miss. It’s the end of November, and with this comes the long-anticipated shopping season. For many, this is a time to enjoy massive sales. We’ve taken the liberty of listing a few sales within the cryptocurrency field that aficionados might find interesting.

Facebook’s Libra Could Reportedly Arrive in January 2021 in a Scaled-Down Version. Libra, Facebook’s long-awaited cryptocurrency project, might be set to launch in early 2021. However, the version that’s potentially hitting the market is scaled-down and specifically intended to abide by the regulations of Switzerland’s FINMA.

Research Suggests Satoshi Nakamoto Launched Bitcoin From London. New research shows that activities associated with Satoshi Nakamoto from 2008 and 2010 might have taken place in London when Bitcoin’s network went live. This brings the experts a step closer to identifying who’s behind the legendary pseudonym.

6 Possible Reasons For Bitcoin’s $3,000 Daily Price Crash. Bitcoin went through a massive crash two days ago when it lost around $3,000 of its value in a sudden red candle. These are six reasons for which this may have happened and a brief outline of what might be next to come.

Coinbase CEO Fears Rumored Regulations Proposed By The Trump Administration. Brian Armstrong, the CEO of the leading US-based cryptocurrency exchange Coinabse, has said that he’s worried about the rumored regulations concerning third-party wallet providers having to identify their users. He said that this might harm users and the entire ecosystem.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Chainlink, and Stellar Lumens – click here for the full price analysis.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

You Might Also Like:


Source: https://cryptopotato.com/bitcoin-temporary-correction-or-no-ath-this-year-the-crypto-weekly-market-update/

Continue Reading

Blockchain

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Avatar

Published

on

  • The San Francisco-based payment protocol has filed a document on Friday with the US Securities and Exchange Commission (SEC). It reads that Ripple Labs has entered into an agreement with MoneyGram, which entitles Ripple to sell up to 4,000,000 shares of common stock.
  • Ripple’s option to sell these shares will expire “upon the earliest of March 31st, 2021, the time at which the maximum amount shall have been sold, or the occurrence of certain other customary events affecting the issuer.” 
  • CryptoPotato reported last year that Ripple and MoneyGram announced a strategic partnership. The initial term of the agreement was for two years. Ripple had agreed to provide a capital commitment amounting to $50 million in exchange for equity through the two-year period.
  • As per the SEC filing, Ripple owns 6.22 million shares of the giant money transfer company (or 8.6% of shares outstanding). However, the blockchain company has a warrant to buy up to another 5.95 million shares, amounting to a total equity position of 12.2 million shares or 17% of MoneyGram’s shares outstanding).
  • With the initial investment in 2019, Ripple purchased the MoneyGram shares at 4.10 per stock, which was a significant premium to the market price. 
  • Nevertheless, MoneyGram’s stocks (MGI) have surged in 2020, closing Friday’s session at $7.42. As such, Ripple can cash out with an 80% profit, despite the initial premium.
SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/ripple-plans-to-cash-out-33-of-its-moneygram-stake-with-a-significant-profit/

Continue Reading
Blockchain4 days ago

PayPal Reportedly Restricted a User’s Account for Trading Cryptocurrency

Blockchain2 days ago

South Korean crypto market records more trades in Altcoins

Blockchain3 days ago

Wrapped- DGLD brings Swiss vault held Gold to Ethereum

Blockchain5 days ago

Yearning for Pickle? Two DeFi Protocols Merge

Blockchain16 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Digital Euro: German finance minister urges ECB to accelerate its CBDC development

Blockchain5 days ago

The Elites Are Preparing a New Currency to Replace the U.S. Dollar

Blockchain3 days ago

Libra Hired New Payments Subsidiary General Counsel: Report

Blockchain15 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

Lattice and DEX Alternatives that Counter CEX Practices

Blockchain4 days ago

This upcoming 45 billion token airdrop is one of the reasons why retail is pumping XRP

Blockchain4 days ago

How To Buy Ethereum With PayPal

Blockchain4 days ago

The FBC Fund Has Invested in Vectracoin

Blockchain4 days ago

Verge Price Prediction – How High Will XVG Price Reach in 2021?

Blockchain15 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain13 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

American Investors Given 14 Days to Get Off Binance

Blockchain15 hours ago

Ripple price prediction: XRP to hit $0.67 next, analyst

Blockchain15 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain14 hours ago

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

Blockchain13 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain4 days ago

Tron Price Prediction – Could 2020 Be the Year of the TRX?

Blockchain2 days ago

Bitcoin Worth $3B from PlusToken Ponzi Scam Seized by Chinese Authorities

Blockchain13 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain5 days ago

BitMEX Founder’s Charges Highlight Risks for DeFi

Blockchain4 days ago

Market Analysis Report (25 Nov 2020)

Blockchain3 days ago

Yes, You Can Spend Your Bitcoin This Black Friday

Blockchain2 days ago

Yearn. Finance Price Analysis: Spike in Buying Pressure Could See YFI Prices Soar To $25k

Blockchain5 days ago

In Her Own Words: Here’s What Janet Yellen Has Said About Bitcoin

Blockchain4 days ago

Ripple price prediction: XRP to move short towards $0.45

Blockchain3 days ago

$100M Liquidated From Compound Following Flash Loan Exploit

Blockchain4 days ago

Coinbase Pro Ends Margin Trading Services

Blockchain14 hours ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain13 hours ago

Bitcoin Price Prediction: BTC/USD Resumes Upside Momentum, Struggles to Break Above $18,000 Price Level

Blockchain5 days ago

Coinbase, Citing Regulations, Ends Margin Trading Services

Blockchain5 days ago

Kraken Daily Market Report for November 24 2020

Blockchain16 hours ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain14 hours ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain2 days ago

Market Analysis Report (27 Nov 2020)

Trending