Cryptocurrency wallet provider Blockchain.com has just launched full support for Stellar (XLM), which will be followed by an airdrop of $125 million worth of XLM to its user base, the company announced in a blog post on November 6, 2018.

Stellar Lumens becomes the first partner for Blockchain’s airdrop program due to its “active and growing ecosystem” that “built for scalability”

The company will distribute $125 million in Stellar lumens (XLM), nearly half a billion tokens, to Blockchain wallet holders who sign up for the airdrop. The first batch of recipients will see their tokens arrive within the week.

The total amount of coins to being airdropped to each user has not...

Read More: https://news.bitzamp.com/stellar-xlm-joins-blockchain-com-wallet-plans-a-125m-airdrop-of-stellar-crypto/

XRP, the third-largest cryptocurrency, experienced a swell of volume over the last three days as it saw its price triple, trading at an appreciated price of $0.52, with a market cap of $21.11 billion.

The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.

The research also highlights the commercial release of Ripple’s cross-border payments platform, xRapid as being a potential catalyst to an XRP price surge.

The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.

There appears to be a handful of reasons behind XRP’s surge in volume, from the ongoing...

Read More: https://news.bitzamp.com/ripple-xrp-volume-triples-potential-factors-behind-its-rally/

U.S. rapper T.I., also known as T.I.P., is being sued for $5 million by a group of people after his FLiK token has reportedly failed. Just like Floyd Mayweather and DJ Khaled, T.I. has been accused of defrauding cryptocurrency investors, as he gets sued for it.

The crypto was called FLiK Token and it was created in August 2017 by T.I. and ATL businessman Ryan Felton. The pissed off investors say the opening price was 6 cents per token, but Felton said it would be worth $14.99 within 15 months, that is around 25,000% increase!!!

According to TMZ, there are about 24 plaintiffs claiming that the tokens initially pumped from 6¢ to 21¢. However, fast forward to August of this year and FLiK tokens are worth less than a penny each.

However, the group continues, T.I. and Felton defrauded them by using the money raised to drive the token’s price up, and when the prices fell down, they dumped the FLiK and disappeared. According to the lawsuit, Felton even created a new company, stating it had acquired FLiK and telling investors he had nothing to do with it.

They claimed that T.I. and Felton gave the impression that Kevin Hart was going to be the new face of the company and even announced that he’d be brought on to FLiK as an owner of the business.

They also said, “Felton explained that the devaluation was caused, at least in part, because of T.I. had given FLiK tokens to members of his family and friends who had sold massive amounts on coinexchange.com which has caused a rapid devaluation of the token.”

Read More: https://news.bitzamp.com/u-s-rapper-t-i-sued-for-5-million-over-failed-cryptocurrency-flik/

BlackRock, the world’s largest asset manager, wants to stay away from crypto ETFs until cryptocurrencies become “legitimate.”

BlackRock CEO Larry Fink said at the New York Times Dealbook Conference in Manhattan on Thursday.

Bitcoin exchange-traded funds (ETFs) have been edging their way into the crypto market for months. While none have been approved just yet, the one getting the most attention was submitted by VanEck SolidX.

Despite the asset management firm’s CEO, Larry Fink, being bullish on blockchain technology, he still has reservations regarding cryptocurrency.

Fink importantly noted that BlackRock isn’t closing the door on cryptocurrency-related investment products, but rather that they aren’t ready at this time. When asked about if they...

Read More: https://news.bitzamp.com/blackrock-wont-launch-bitcoin-etf-until-crypto-is-legitimate-says-ceo/

Changpeang Zhao, the co-founder, and CEO of Binance, the biggest cryptocurrency exchange platforms by trading volume announced via a tweet that they had frozen all accounts belonging to Wex cryptocurrency exchange, citing money laundering concerns.

The decision was made in response to an alert made by Twitter user RedDragon, who warned the public about the suspicious activities happening in the Wex exchange.

Leah Li, the global PR manager at Binance, confirmed on October 25th that the accounts were under investigation as WEX users had informed Binance’s management team that they had been unable to make withdrawals from WEX.

Leah Li announced that accounts which received 93,000 ETH from August 2018, have been frozen on Binance exchange on October 25th.

Read More: https://news.bitzamp.com/binance-freezes-wex-exchange-accounts-caught-moving-customers-funds/

In a recent interview with CNBC, Tom Lee crypto bull gave his thoughts on the current state of the market. Lee, the Head of Research at Fundstrat, stated that he was pleasantly surprised by the stability of the cryptocurrency market and added that Bitcoin has reached its bottom.

The financial analysts had made news earlier when he stated that the value of Bitcoin would break December 2017’s record and shoot up to an all-time high of $25,000.

Lee states that he had expected the volatility of Bitcoin to be much higher considering that the total crypto cap is a small fraction of the total global assets which have seen a correction.

Surprisingly the now-10-year-old Bitcoin has relatively outperformed stocks, even ones that have been historically non-volatile beyond belief. Elaborating on this point, the prominent crypto proponent stated:

It’s surprising given how small bitcoin is in terms of market capitalization… right? The total crypto...

Read More: https://news.bitzamp.com/head-of-research-at-fundstrat-tom-lee-pleasantly-surprised-at-the-stability-of-bitcoin-btc/

During an interview at the 2018 Canada FinTech Forum in Montreal on Monday, Janet Yellen, the former chair of the Federal Reserve, criticizes bitcoin and other cryptocurrency assets saying bitcoin is “anything but” a useful store of value.

Her comments made local and worldwide news for the cryptocurrency industry as she criticized Bitcoin for its lack of value. The original report on her interview came from Canadian financial news outlet Kitco.

According to Janet, Bitcoin is not used for a lot of transactions, it’s not a stable source of value, and it’s not an efficient means of processing payments. It’s very slow in handling payments. It has difficulty because of its very decentralized nature.

The rationale articulated by Yellen during the course of her speech as to why Bitcoin is unsuitable as a currency ran along similar lines to that of Roubini. She maintained that very few transactions are actually handled by Bitcoin whilst many of those that do are illicit transactions. On that subject she added:

“I worry about the implications with the use of cryptocurrencies for terrorists, financing money laundering and the like.”

She also condemned Bitcoin on the basis that for something to be a currency, it needs...

Read More: https://news.bitzamp.com/janet-yellen-bitcoin-is-anything-but-a-useful-store-of-value/

Crypto exchange Coinbase says it is now valued at over $8 billion after it closed a new $300 million round of funding to “accelerate the adoption of cryptocurrencies and digital assets.”

The company announced the $300 million investment in a blog post, which said the financing is being led by New York-based Tiger Global and will be used to accelerate global expansion and the offering of more cryptocurrencies.

The company has made a big push in the past year to broaden its services from consumers to catering to institutional investors, and it said that it plans to use this new capital to continue that strategy. In addition, the firm plans to broaden its focus outside of the U.S. to offer fiat-to-crypto exchanges services in other parts of the world.

It is also promising to quickly add support for more cryptocurrencies, expanding its platform from a handful to thousands.

Founded in 2012, San Francisco-based Coinbase has surfed the Bitcoin wave to become one of the biggest players in the crypto space, building up a staff of 500 people.

Read More: https://news.bitzamp.com/coinbase-now-valued-at-8-billion-plans-to-list-hundreds-of-tokens/