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40 million XRP just got transferred to former Ripple executive Jed McCaleb

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XRP
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The past few months have been a momentous in the crypto sphere, due to the events that have been going on with the price actions and activities of major cryptocurrencies and altcoins. One of the cryptocurrencies making constant headlines is Ripple (XRP) without any doubt.

Overall, great emphases have been continuously made on how money can be moved quickly and inexpensively using Ripple’s blockchain technology. However, just a couple of hours ago, about 40 million in XRP were transferred from one account to another, known to be owned by a former Ripple executive, Jed McCaleb. It still is not clear why the funds have been moved, but it seems both co-founders are cooking something up.

As the funds were transferred, the move didn’t go unnoticed by the Ripple community as the transfer involved a large sum of XRP. The Twitter bot @XRPLMonitor shouted the recent happening:

As soon as the event took place, the XRP community began to react to news since the transaction was unusual, and that it involved a large amount of XRP with a less cost – less than a cent.

A member of the XRP community who goes by the name Krisk tweeted:

Jed’s wallet (tacostand) sender.”

Another member, Jay Katana also tweeted in reply to Krisk:

“XRP dump + XLM pump incoming then, if true.”

Lots of findings are currently on, on why this fund has been transferred – it may be towards a new venture of Ripple (XRP), or probably, it may point to the idea that it was a pump on XLM blockchain owned by Jed McCaleb. Some members in the Ripple community also see it that Ripple is trying to show its cost-saving abilities.

As stated earlier, the receiver’s account is owned by the owner of Stellar (XLM), Jed McCaleb, who is also the real creator of Mt.Gox exchange. According to the New York Times, it is essential to know that McCaleb held a large amount of XRP worth $20 billion in Jan. 2018.

On the other hand, the sender’s account is believed to be owned by Ripple itself. Nevertheless, lots of speculations have risen on why two co-founders are allegedly transferring large chunks of money from one account to the other.

This is not the first time these type of events have happened – as about three months ago (August), $2.3 billion in XRP got moved between Ripple and Jed McCaleb.

As of now, the reasons for the recent transaction remains unclear, but we may see more insights in a few days to come (or maybe within hours). No doubts, the current happening points to the fact that digital assets can change the way money moves from one place to another – but we aren’t sure on the real motive of the recent transaction.

Meanwhile, XRP rests in red by a fraction at the time of writing as it is trading at the price of $0.5353 after going down by 0.48% in the last 24 hours. Let’s see how this sudden massive XRPs movement affects the price.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

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AZ FundChain
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Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver…

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Why no one should be using banks

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why no one should be using banks
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If government is the devil, the bank is a demon.

It’s not your money anymore.

The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.

Government will know everything

Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.

Banks ask too many stupid questions

It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.

They can legally suspend your account or even steal your money

Laws are not made to protect people, they are made to protect the…

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Neteller to Launch a Crypto Exchange

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Neteller
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The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?

Neteller and Cryptocurrency

Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…

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