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Morgan Creek Fund bans Ripple’s XRP alike cryptos from its new crypto repository

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Ripple XRP
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The controversy related to whether or not Ripple’s XRP should be considered as a security has appeared one more time as today it was excluded in the launch of the Morgan Creek Fund, a crypto related fund that provides its users the possibility of accessing some of the top cryptos in the market.

In this sense, whenever we mention ‘top cryptos’ we cannot avoid thinking of Ripple (XRP), the third largest cryptocurrency by market capitalization. However, as it seems, the third largest crypto is just not being considered by the fund because of centralization issues. Let’s see all of the details on this.

Morgan Creek Fund

The Morgan Creek Fund was created in collaboration with Anthony Pompliano, who formerly was the owner of a firm called Tilt Capital, a company that was acquired by Morgan Creek at the beginning of the year for an amount that has been undisclosed since the partnership started.

Earlier this year we knew by Pampliano himself that he would like to focus primarily on crypto, but it wasn’t till Morgan Creek managed to partner with the fund-sponsor Bitwise Investment Advisors, LLC; when the project started to shape.

Let’s recall that earlier this year, Bitwise launched as well a crypto-related fund dubbed HOLD 10. However, Hunter Horsley, co-founder of Bitwise clarified that the main difference between the two projects centers on the committee, as Mark Yusko, CEO of Morgan Creek, Pompliano, and Matt Hougan, head of the research at Bitwise, are a part of the board of advisors.

With relation to the fund, it was known that it carries $1.5 billion in assets, and they will provide pensions, wealthy families, endowments and accredited investors with an exposure to cryptos such as Ethereum (ETH), Zcash, Monero, Litecoin (LTC), Omisego, Bitcoin cash (BCH), EOS, Dash, Ethereum classic (ETC), and of course Bitcoin (BTC).

Among the excluded coins we can find Ripple (XRP), TRON (TRX), Stellar (XLM), Cardano (ADA), and other tokens that in accordance to Morgan Creek may represent a risk in the future.

Regarding this, Pompliano stated that,

“If there’s a central party that owns 30% or more of supply” that would be enough reason for the index to ban that crypto of the fund. He continued by saying that those coins holding high percentages of their own crypto have great opportunities to control the way the coin will perform, and that simply “introduces a lot of additional risks that may not be there if it was a more decentralized network.”

With relation to this, all of the coins that fit in this description are considered pre-mined cryptos, coins that were mostly created in the early stages of the blockchain. For its part, Horsley states in this matter that,

“with decentralization being a cornerstone of most blockchain designs, having a large portion of assets held centrally runs counter to that and could create complexities that differ from what we would expect from public blockchains”.

Conclusion

The decision of the Morgan Creek fund definitely represents a low blow for Ripple, which has made significant efforts to dispel the rumors of their centralization issues. Nonetheless, the company continues occupying the third place in the market concerning market capitalization.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Isaiah Rustad on Unsplash

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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