Ripple CTO dismisses Coin Metrics report saying it was a timeline issue, Tron [TRX] futures to soon start trading on OKEx platform and more

Crypto News – 18 May – Ripple CTO dismisses Coin Metrics report saying it was a timeline issue, Tron [TRX] futures to soon start trading on OKEx platform and more

Daily Crypto News – May 18

1) XRP-backed stablecoin: Kava Labs is developing a stablecoin, USDX, backed by XRP on a Cosmos Zone, which dynamically maintains stability to USD with decentralized mechanisms.

Read more at https://bit.ly/2HE7xAv

2) BitMEX insurance funds: While some panicked when Bitcoin crashed suddenly, others remained calm and assessed the situation. It was noticed that there was a huge sell order on Bitstamp, which pushed the price of Bitcoin by ~20% in a few minutes.

Read more at https://bit.ly/2VNgUaK

3) USDC do not exceed balance of US dollars: News revolving around the USD Coin [USDC] had taken a negative connotation when Coinbase CEO Brian Armstrong was called out for shilling the cryptocurrency. As a way to put any fears or speculations to bed, Grant Thornton LLP, an independent accounting firm released the latest attestation report on US dollar reserves backing USDC.

4) SatoshiPay launches Solar Wallet: SatoshiPay has been working closely and designing micro-payment apps for the Stellar Network. Earlier this year, the micro-payment solution company launched Solar wallet, a stellar network-based and user-friendly desktop wallet. The Solar Wallet has proved to be user-friendly and easy-to-use and can securely manage funds.

5) Blockstream CSO on Bitcoin: Samson Mow, Blockstreams Chief Strategy Officer appeared in the latest Keiser Report discussion featuring Max Keiser. Talking about the satellite, Mow said that the purpose of Blockstream satellite was to provide redundancy for the Bitcoin [BTC] network.

6) HitBTC is insolvent, claim customers: According to a series of tweets by CryptoMedication, from Zerononcense, cryptocurrency analytics and research firm, the exchange is insolvent. The Twitter handler exclaimed his surprise that the exchange was still in operation as they had only 350,000 BTCs after their liquidation.

7) Weiss Ratings on Bitcoins price movement: Weiss Ratings, the crypto-specific rankings company, which, at times has rubbed the cryptocurrency industry the wrong way on predictions, suggested an absence of manipulation and termed the fiasco as a normal market correction.

Read full story on AMBCrypto

Tags: United States dollar, Ripple, Futures exchange, Timeline, Chief technology officer, OKEx, Coin Metrics, TRX Inc, Coin Metrics, Computing platform