Libra’s Future Plan Has Made PayPal Cautious of Its Competition

Libra is a blockchain tech-based digital currency, backed by the US social media giant, Facebook. The company has already revealed its plan for Libra cryptocurrency in June and it is set to launch soon in 2020.

Reports have been suggesting that this new cryptocurrency might make its first appearance in the market by partnering with the pioneer digital payments firm. This has made other companies, especially PayPal, cautious about the future of Libra.

Although, the company is said to be backed by the basket of currency assets and US Treasury securities in an attempt to avoid volatility caused by the other virtual currencies in the market. Still, things not seem to be perfectly fine for the Libra, as central banks, governments, and regulators all are coming together and asking Facebook what are their plans on making it regulated.

Gabrielle Rabinovitch, PayPal investor relations vice president showing his concern said, “It’s a non-binding commitment,” referring to the plans of Facebook on how they will oversee the blockchain coins.

He continued, “And obviously, I think there’s a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea.”

With Libra, Facebook is trying to develop a new global cryptocurrency. That will be stored in our smartphones and most importantly they are planning to make it a stable virtual cryptocurrency. This will help many people who are not using banks to become part of the financial system.

If one can point, they’ll see that Libra’s plans are quite similar to PayPal’s long term plans. There are hundreds of billion funds get transferred by the people to their families in the other country through digital payment. PayPal is the king when it comes to this digital fund transfer. However, the coinciding plans of Libra cryptocurrency have made PayPal cautious of its competition.

Bitcoin millionaire narrowly escapes armed attack by a robber

Crypto holders nowadays should exercise caution with regard to not only their funds but also their personal security, a recent incident of attempted burglary in Norway on a bitcoin millionaires’ home affirms this. Earlier this year a local high profile bitcoin investor in his early forties had barely managed to escape from a robbery at his house when an armed man tried to get inside forcibly. This time it was a businessman who had been working in the crypto industry for almost ten years, and the incident took place at his apartment in Oslo. In this case, too, an armed man showed up at his door and asked him to get down on the floor. The incident was reported by the Norwegian broadcaster TV2 and thereby acted a reminder to all crypto investors to be careful.

Interestingly, in this case, when the intruder armed with a shotgun aimed at the victim, the latter refused to comply and give away the money and escaped by jumping off his balcony on the second floor. Whether the victim has suffered any major or minor injuries is still not known with certainty. TV2 has also reported that the businessman owned a company in the crypto industry and available financial statements show that his wealth is worth almost 11 million USD. The details of the robbery have been made public only recently although the incident had occurred in May this year. The case is scheduled for a trial on October 17 and 18 in Oslo; however, the victim’s attorney and defense lawyer of the perpetrator refrained from commenting.

The victim has thus pulled a brave act as the indictment drafted by the Attorney General’s Office alleged that the suspect had threatened the victim with “Lie down, or I’ll shoot.” However, no shot was fired before the victim barely escaped, who had come in the spotlight in recent times for the significant fortune that he had made with his decade long engagement in the cryptocurrency sector. Norway had also seen similar incidents earlier like the brutal murder of a 24-year-old bitcoin investor in Oslo after he had sold his bitcoins for cash. Although there is some doubt on the possible link of the murder to the bitcoin sale, yet the incident had managed to disturb the crypto community.

Since crimes related to cryptocurrency holders are on the rise, a few simple steps may be undertaken as precaution, besides getting an arms license or installation of a state of the art security system at home. One such step is non-disclosure of one’s earnings, which simply means one need not talk about or show off the wealth that he has made with the bitcoins he has bought. There is a very high chance of such news getting spread by word of mouth or social media, and thus one needs to be cautious. One should also never post his wallet addresses online as this gives access to criminals to see how much cryptocurrency their targets own. In case one needs to post his wallet address online, they should not store much wealth in it and use it only for the specific purpose. One can also use an anonymous cryptocurrency or a coin mixer so that criminals cannot trace the transactions as these can be publicly viewed otherwise. One should also have a wallet that can be used as a bait that has a small amount as compared to overall crypto wealth, in case of armed assault the funds can be transferred to that wallet which the assailants can take away.

Such parallel incidents have also taken place in Kerala, in India this month, and also with a Russian cryptocurrency investor. Therefore such precautions have become extremely significant in the light of a rising number of cases of wealthy cryptocurrency holders becoming victims of robbery and kidnapping at gunpoint.

SNB’s Jordan Expressed Threat From Foreign Stablecoins To Switzerland’s Monetary Policy

Thomas Jordan, Chairman of Swiss National Bank, disclosed his worries regarding the stablecoins. He said that Switzerland’s monetary policy could be affected due to the stablecoins like Facebook led Libra cryptocurrency as they are linked with a group of stable currencies.

He said, “the Swiss franc would not create any risk; however if the stablecoins pegged to foreign currencies were to establish themselves in Switzerland, the effectiveness of our monetary policy could be impaired.”

While speaking at the University of Basel, he further expressed his concern that” cryptocurrencies are meant to have limited use as payment instruments, units of account and stores of value and thus are subjected to have major fluctuations.”

“We don’t see this as an immediate threat to our financial stability, but the open-access of central bank-issued virtual forex to the common public could create hindrance to the national monetary policy as it multiplies a chance of a financial institution run.”

Facebook’s plans to launch a stablecoin Libra is causing turmoil among the bankers and financial regulators across the globe. Moreover, it has chosen Switzerland for launching its Libra project.

Switzerland has blockchain-friendly policies along with stringent federal laws about data privacy and data protection. Owing to this approach, Facebook has launched a company called “Network Libra” in Geneva in May. This has created an atmosphere of ambiguity in the financial sector of Switzerland.

The Libra project is facing a growing chorus of resistance across the borders, including Trump administration.

It also has created chaos among European officials that Libra could harm sovereign currencies and could undermine European banks which could lead to the financial crisis.

The recent statements of Thomas Jordan resonances similar concerns. However, David Marcus, The head of the Libra project had assured in July that it wouldn’t compete with sovereign currencies or won’t interfere in monetary policies.

Litecoin has lost more than 8% and falls to $65 overnight

In the last 24 hours, one major price decline has placed the Litecoin near $65 all the way from $75. LTC coin, in total, has shown four significant swings.

LTC to USD Price Analysis

A large part of yesterday was consistent for Litecoin. The first swing for the Litecoin was a slight rise of 1.39% between 02:37 UTC and 06:38 UTC. It placed the coin at $72.81. However, the biggest event of the day started at 16:02 UTC and over the next 2 hours and 12 minutes, it made the Litecoin lose a whopping $7.54 and pushed the LTC price to the lowest of the day at $64.74. The next few hours saw some marginal hike, and it gained 3.68% by 23:32 UTC to reach $67.09. The last swing of the Litecoin for the day happened between 23:32 UTC and 02:40 UTC, it deducted $1.48 from the coin, and the current value is roaming around $65.

Litecoin Price Chart by TradingView


Litecoin has taken an unexpected move, and this has shocked the whole market. There is no visible sign of quick turnaround of Litecoin price. In the short-term, LTC coin may take the shelter of the next support at 62 USD.

Here are the details of the next probable resistance and support levels:

  • R1: $71.47, R2: $75.51 and R3: $77.98
  • S1: $64.96, S2: $62.49 and S3: $58.45

Microsoft, Google and Intel Combine to Form Data Protection Consortium

In a recent blog post, Mark Russinovich, CTO, Microsoft Azure has mentioned that Confidential Computing Consortium will define and accelerate the adoption of confidential computing. Microsoft joins Google, Intel and other founding members like ARM, IBM, Red Hat, Tencent, Swisscom, Baidu, Alibaba to form the Data Protection Consortium. Linux Foundation will host this new organization.

The following companies will collaborate and work together to form an open-source technology and frameworks. This technology will help the organizations to work on their data sets without giving any access to their data. It will help in gaining shared insights and innovating new technologies together.

There are three types of data exposure that needs to be protected. One of them is the data when it is in rest. The second of them is when the data is in transit position. The third and most critical one is when the data is in use. This type of data is also called confidential computing.

The protection of data in use means that during the computation, the data is invisible in unencrypted form to the authorized code to access it. It also means that it is inaccessible to the public cloud service providers or edge device vendors. Confidential Computing Consortium will provide the solution to make the data private from the edge to the public cloud all the way.

To develop such technology to deal with the protection of data is in use, all the organizations will work together. Like, Microsoft provides its framework to write the code which will be run inside the trusted execution platforms. Intel will protect the code at the hardware level. On the other hand, Red Hat will abstract the secure environments to create as well as run private applications without the server. So, each one of the collaborating companies will contribute somehow in protecting the confidential computing data.

Confidential Computing Consortium is a public commitment given by Microsoft to protect the data, but there is a need to do a lot of work on Confidential Computing Consortium, i.e. CCC. It is a difficult and essential task to secure the data as it plays a major role in the safety of an organization. People are waiting for such innovation and development of technology that can help millions of individuals as well as companies in protecting their data.

Over $100 Million in Crypto Donations to Fidelity’s Charity

“We see cryptocurrency donations rise along with increases in the value of cryptocurrencies in the marketplace,” said a company representative.

Amy Pirozzolo marketing head of Fidelity Charitable said that offloading of crypto has decreased as it is facing a down road. Due to which people who used to offload them as charitable assets has also decreased. This decrease is mainly caused by the diminishing value of tax deductions provided to the donors for their charity.

Pirozollo also talked about the working of the company. In which she told about “give their most depreciated assets first” concept. They encourage them (donors) to invest such items so that they can receive the best tax advantages.

Pirozollo added on by saying, “One thing we’re committed to being helping donors choose the most tax-efficient asset to give to charity,”  

“The majority of our contributions to date have been bitcoin, however we have also seen growing numbers of donations in ethereum.” said company’s representative.

This report also showcased that the company accepts assets in the form of bitcoin and litecoin.

Fidelity Charitable also announced about its acceptance of the digital asset XRP Back in May, and Fidelity stated on Twitter that it would take donations in XRP.

VeChain (VET) Price Prediction: Trends are Bearish; The Crypto is Aiming at Various New Market for Extending its Presence

Meta Data: The short-term trend in VeChain is bearish. Avoid trading at these levels. However, go for buying for a good return in the long term.

VeChain Foundation recently took part in OceanEx Germany Cryptocurrency Meetup. It was held successfully at FSBC and was attended by more than 200 crypto professionals and enthusiasts. The dignitaries shared information regarding the most hard-core blockchain technologies.

Current Statistics:

  • On July 29, at UTC 12:08, VeChain (VET) vs USD was trading around $0.00558779.
  • Against Bitcoin, the crypto was valued around 0.00000059 BTC per chip.
  • At present, the market rank of VeChain (VET) is 32nd in the cryptocurrency chart.
  • Additionally, the market capitalisation of the cryptocurrency was around 310,639,512 USD.
  • At the same time, the 24-hour trading volume in the altcoin was 27,024,334 USD.
  • With an ROI of -62.76%, the number of VeChain chips circulating in the market, at the above mentioned time, was 55,454,734,800 VET.


On July 04, VeChain (VET) was trading around 0.00782836 USD. However, today after 25-days, the cryptocurrency is trading with a decline of 28.62%. Similarly, in the weekly trading, the altcoin has gone down by 8.40%, from the level of 0.00612129 USD on July 21. Nevertheless, the crypto has shown a stable movement in yesterday’s trading. After opening at 0.005669 USD, it closed at 0.005661 USD, with a marginal decline of 0.15%.


Amidst the bearish market, VeChain (VET) has shown some stability. And expected to move toward the upper side of the chart. As per our prediction, VeChain (VET) might trade around 0.01 USD by the end of the year. The immediate resistance for the coin is at 0.0057634 USD and the support level is at 0.0055164 USD.


Germany is a big market for crypto with a lot of potentials. Earlier IOTA chain tried to penetrate the German market through collaborating with various automobile companies. And the partnership helped the crypto in strengthening its grip on the market. VeChain seems to be following a similar strategy. The foundation is expecting a similar result like IOTA chain. As per our analysis, it will most probably make some market movement in the favour of VeChain (VET).

VeChain Shows Some Signs of Stability; Signed an MoU with The San Marino Republic

Meta Data: The overall trends are flat but moving slowly toward the upper side of the chart. Holding VeChain chips at present is recommended.

The San Marino Republic recently adopted blockchain technology and signed a memorandum of understanding with VeChain Foundation to become the first carbon-neutral country. The partnership will mutually benefit each other. While VeChain will help San Marino to develop, promote, and deliver a full ecosystem of technological innovation, it will also help VeChain in extending its market reach.

VeChain Price Analysis & Future Forecast-

On June 28, VeChain price was trading around 0.00761296 USD. However, over the period of 25-days, the altcoin has shown a decline of 23.1%. However, weekly trading portrays a contrary story, where the altcoin has gone up by 13.32% from 0.00517114 USD on July 17. Yesterday was also a good trading day for the crypto. It opened at 0.006092 USD and with a strengthening of 2.05%, wrapped the day at 0.006217 USD.

Just like the rest of the market, there is a bit of slowdown in the altcoin at present, but VeChain is making some stable action, and that’s the good news for the investors. As per our prediction, VeChain (VET) will trade around 0.015 USD by the end of 2019. The immediate resistance for the VET coin is at 0.006402 USD, and the support level is at 0.00572 USD.


The recent partnership is a much-needed push for the altcoin, and its effect can be seen in today’s trading. The Market Capitalisation and trading volume of the altcoin have also increased from yesterday’s level. The coin has a flat trajectory at present, and investors should hold VET coins at these levels.

ETN is out of Top 100 Crypto ranking marathon!

Electroneum seems to mark its territory in the charity trust as well. After 2008, the trust in the charities has dropped from 67% to 55% already. But with the innovations like Electroneum, the donations might be realized in the same field again.

It seems like a noble through at the end of ETN community and might bring some credibility and loyalty form the users in the network soon.

The value of ETN is currently trading at $0.005374 at 07:17 UTC time on 19th July 2019. In past 5 days, the lower value was seen on 14th July at 14:15 UTC time trading against 0.00000052 BTC value. The value increased by 15.29% on 15th July at 17:15 UTC time trading at 0.00000060 BTC value. However, the lowest touchdown was seen on 17th July at 18:50, when the value dropped by -16.62% trading against 0.00000050 BTC value. Yesterday, the value saw a slight escalation by 10.14% at 10:30 UTC time with the trading value of 0.00000055 against BTC value. However, that value is dropped by -7.25% as of now.

Prediction and Conclusion

Sliding in the slight bearish, ETN might reach to pivot point soon. However, ETN still lacks new partnership with exchanges, only then they will gain the real visibility in the capitalization. As of now, they were thrown away from top 100 ranking, hope to see some escalations to get back in the game soon.

The calculated resistance support that traders might want to consider is as follows:

  • R3: 0.00638
  • R2: 0.006037
  • R1: 0.005836
  • Pivot Point: 0.005493
  • S1: 0.005292
  • S2: 0.004949
  • S3: 0.004748

By end of 2019, let’s hope to see some flying valuation of $0.01 in ETN chart.