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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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First Mover: Short Shrift for XRP Token’s 169% Price Surge as Traders Obsess Over Bitcoin

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Bitcoin was higher, in an indecisive-looking market swinging between about $18,300 and $19,300. Prices have failed to push higher after surging to a new all-time high of $19,920 earlier this week.  

“Expect additional short-term volatility,” Katie Stockton, a technical analyst for Fairlead Strategies, told CoinDesk’s Daniel Cawrey. 

In traditional markets, European stocks slipped and U.S. stock futures pointed to a lower open as lawmakers discussed new economic-stimulus measures and traders awaited new data on U.S. jobs growth during November. Gold strengthened 0.7% to $1,827 an ounce. 

The 10-year U.S. breakeven rate, representing inflation expectations as implied by bond markets, rose to 1.81% on Tuesday, the highest since July 2019.

Market Moves

As bitcoin dominated headlines in November with its rally toward an all-time high, one of the most prominent alternative cryptocurrencies, XRP, quietly jumped 169% during the month to top the performance rankings among digital assets in the CoinDesk 20.

The move left XRP, the payments token used in Ripple’s global payments network, up 225% in 2020, versus the older and larger bitcoin’s 165% gain. XRP has a market capitalization of $21.4 billion, a fraction of bitcoin’s roughly $350 billion.

The frenzy may be driven by a looming airdrop of free “spark” tokens to anyone who holds XRP, some digital-markets analysts told CoinDesk last month

There’s also the possibility that some first-time cryptocurrency buyers are unaware that it’s possible to buy a fraction of a bitcoin (BTC, +0.35%) – divisible up to the eighth decimal, instead of a whole token. For the novice investor, XRP, currently changing hands at 62.3 cents, looks a lot cheaper on a price table than bitcoin’s $19,087. 

“As the digital asset space has seen renewed interest in the second half of 2020, a new wave of investors are looking for ways to get exposure,” said Brian Mosoff, CEO of the publicly traded Canadian investment fund Ether Capital. “Ripple appears to offer exposure in their portfolio, and a quick Google search may result in some users believing XRP is cheap and likely to become a product banks utilize for cross-border settlement.”  

Stellar (XLM, +1.21%), another payments token founded by Ripple co-founder Jed McCaleb, was the second-best performer in November among the CoinDesk 20, gaining 153%. It’s up 313% on the year.  

For comparison, bitcoin rallied 40% in November while ether, the native cryptocurrency of the Ethereum (ETH, +1.43%) blockchain, rose 56%.

– Bradley Keoun

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CoinDesk 20 Asset Returns for November
(CoinDesk)

Bitcoin Watch

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Bitcoin daily price chart showing market pause after surge to all-time high.
Source: TradingView/CoinDesk

Token Watch

Ether (ETH): Price correlation with bitcoin holds strong during latest rally.  

Bitcoin (BTC): Larry Fink, CEO of money management giant BlackRock, tells former Bank of England Governor Mark Carney at Council on Foreign Relations that bitcoin has “caught the attention” of many people and could “evolve” into a global asset

USD Coin (USDC): Centre, overseers of standards for dollar-based stablecoin USDC, hires former CLS, JPMorgan, State Street executive David Puth as first CEO.

What’s Hot

  • Institutional bitcoin shop NYDIG raises $150M for twin crypto funds (CoinDesk
  •  Not so fast! CoinMarketCap says bitcoin prices haven’t yet topped the all-time high based on its own records, at $20,089 in December 2017 versus CoinDesk’s old $19,783 (and now $19,920) using the Bitcoin Price Index (CoinMarketCap)
  • Almost 20% of PayPal users have used app to trade bitcoin, Japanese securities firm Mizuho says (CoinDesk
  • Russia says digital ruble will be only token allowed as form of payment in country, with law banning use of cryptocurrencies for payment set to take effect in January (CoinDesk)
  • Blockchair lead developer Zhavoronkov mounts campaign to stop Taproot upgrade on Bitcoin network (CoinDesk)  
  •  Libra Association rebrands to “Diem” in effort to distance itself from Facebook-led stablecoin push that brought international regulatory backlash (CoinDesk)   
  •  Cryptocurrency derivatives platform ErisX launches cash-settled contracts after physically settled futures fall flat (CoinDesk
  • “We have built money for a world that’s geographically divided, but that’s not the word we live in anymore,” Ajit Tripathi writes in op-ed (CoinDesk Opinion)
  •  BlockFi announces early 2021 launch for bitcoin rewards credit card (CoinDesk
  •  Hottest debate on Wall Street is whether to buy bitcoin or gold (Bloomberg)  
  • Australian crypto exchange BTC Markets accidentally exposes personal data of 270K users (CoinDesk

Analogs

The latest on the economy and traditional finance

European Central Bank chief economist privately gave dovish assurances to Goldman Sachs, JPMorgan, Citigroup, UBS, Deutsche Bank, BlackRock after ECB President Lagarde publicly made comments on Italian bond market, economy’s health that were seen by investors as hawkish (WSJ)

Bipartisan group of U.S. senators introduce new stimulus proposal worth about $908 billion (Washington Post

In global markets, “everyone already expects everything to be really fantastic,” implying the optimism is already priced in, columnist James Mackintosh writes (WSJ

Japan wants to attract foreign talent in the financial sector by slashing income taxes (Nikkei Asia Review)

Huawei Technologies gets foothold in Southeast Asia after partnering with Indonesian government (Nikkei Asia Review)

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Source: https://www.coindesk.com/first-mover-xrp-price-surge-traders-obsess-bitcoin

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Visa May Issue USDC Credit Card After Adding Circle to ‘Fast Track’ Program: Report

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Visa Wednesday announced it’s linking its payments network of 60 million merchants to the U.S. Dollar Coin (USDC) digital currency developed by Circle Internet Financial on the ethereum blockchain, according to Forbes.

This story is developing and will be updated when more information is available.

Source: https://www.coindesk.com/visa-connecting-global-payments-network-to-circles-usdc-on-ethereum-blockchain

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U.S. DoJ Extradites Key Member of Crypto Ponzi Scheme From Panama

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The U.S. Department of Justice (DoJ) has extradited a principal member of a fraudulent cryptocurrency mining and trading platform from Panama to the United States.

AirBit Club Co-founder to Face Criminal Charges in the U.S.

According to an announcement by the acting U.S. attorney for the Southern District of New York, Audrey Strauss, U.S. authorities were able to extradite Gutemberg Dos Santos, co-founder of crypto Ponzi scheme AirBit Club.

Dos Santos, who holds dual citizenship from Brazil and the United States, was extradited to the U.S. from Panama on Nov. 23, 2020. According to Strauss, Dos Santos’ repatriation was possible with the help of the Homeland Security Investigations (HSI).

As reported by CryptoPotato back in August, the U.S. authorities arrested five individuals who were involved in the AirBit Club scheme that fleeced unsuspecting victims of $20 million. Operators of the crypto Ponzi scheme ran false advertisements that promised users hyperbolic rewards from Bitcoin trading and mining.

However, the DoJ at the time alleged that the group only sought to live flamboyant lifestyles of victims’ funds. While spending money on luxury homes and cars, they reportedly made more moves to recruit more victims across the U.S and different other countries.

A statement from the DoJ document reads:

“The extradition of Dos Santos reflects the determination of agents from HSI New York’s El Dorado Financial Crimes Task Force to dismantle global criminal organizations, wherever the investigation takes us. Utilizing our broad authorities and network of law enforcement partners, HSI will continue to hunt those who allegedly prey upon innocent citizens for financial gain.”

Also, if Dos Santos is found guilty of the charges levied against him, the AirtBit Club co-founder could face between 20-30 years in prison.

Law Enforcement Fighting Crypto Crimes

Regulatory authorities globally continue to warn investors about fake crypto-related schemes that promise high returns. According to a recent report by CryptoPotato, Chinese authorities confiscated $4 billion worth of crypto tokens from PlusToken scammers.

PlusToken, which is one of the biggest cryptocurrency Ponzi schemes, promised users high returns, similar to other crypto fraudulent projects. The Chinese law enforcement began investigating the project after it shut down in 2019. In July, the police arrested 27 key members of the scam project, along with 82 other members.

Another major fraudulent crypto scheme, OneCoin, reportedly stole $4 billion from investors with its founder Ruja Ignatova also known as “Crypto Queen,” still at large. Meanwhile, Ruja’s brother Konstantin Ignatov has been arrested by the U.S. authorities since 2019 and could face a 90-year prison sentence.

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Source: https://cryptopotato.com/u-s-doj-extradites-key-member-of-crypto-ponzi-scheme-from-panama/

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