• newspaper
    Africa,  Alt coins,  Bitcoin,  Ethereum,  Litecoin,  Media,  Tether

    Must-reads for August 30, 2018: Ethereum’s Lubin talks Tether, EU considers regulations, and more

    Here are the crypto stories you should be watching today

    Ethereum cofounder defends Tether against manipulation accusations (Yahoo Finance) Tether is often accused of being printed without assets to back and then used as a tool to manipulate bitcoin price. Joe Lubin, who now runs Brooklyn-based Consensys, isn’t a Tether skeptic. “Based on our analysis, which involves just talking to a bunch of people in the space, we do believe that tethers are backed 1 to 1 by U.S. dollars in bank accounts. But it’s still not 100 percent solid in terms of a story from my perspective. I expect may other price-stable tokens will arise and take it place. MakerDAO’s dai is doing incredibly well. It’s a mechanism that…

  • PayPal
    Cryptocurrencies,  Innovators

    PayPal clamps down on crypto purchases while trying to patent a virtual currency

    The U.S. Patent and Trademark Office published PayPal’s request for a virtual currency patent

    Over the past month payments giant PayPal has been playing whack-a-mole with many cryptocurrency outlets. First, the Netherlands-based AnyCoinDirect saw its relationship with PayPal severed. Late last month, Coinbase announced it was pulling it support from the PayPal system. Even as far back as 2011, they were freezing nascent exchanges. Now the only exchanges that seem to work with PayPal are complicated, high-fee websites and most only allow you to buy and sell directly for fiat (in other words, they have no wallet function). And yet earlier this month, the U.S. Patent and Trademark Office published PayPal’s request for a virtual currency patent. Many users are unaware that PayPal previously…