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Trump's Former Federal Reserve Nominee to Launch Stablecoin Called "Frax" in Coming Months

  • Alex Dovbnya
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    Conservative commentator Stephen Moore announces the upcoming launch of the new "Frax" stablecoin

Trump's Former Federal Reserve Nominee to Launch Stablecoin Called "Frax" in Coming Months
Cover image via www.123rf.com

Former Donald Trump's Federal Reserve nominee Stephen Moore has told Fortune that he is going to formally announce his own dollar-pegged stablecoin called "Frax" on Oct. 21. The launch of the new coin is expected to take place "in the coming months." 

There's already a plethora of available coins, but Moore claims that Frax will be a beast of a different kind. The new coin will rely on a fractional reserve of dollars that it will loan out in order to collect interest. In such a way, they will make sure that the value of Frax will always be backed by greenbacks.       

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Bitcoin ‘Direct Threat’ May Be Handled by Canada’s Central Bank Through Launching Its Own Crypto

Bitcoin ‘Direct Threat’ May Be Handled by Canada’s Central Bank Through Launching Its Own Crypto

After withdrawing his nomination, Moore decided to focus on crypto. Back in June, he insisted that central bankers were "freaking out" about the nascent asset class during an interview with CNBC. 

In a recent interview with Fortune, he reiterated his point that it was healthy for private companies to compete with central banks when it comes to the money supply. 

“I’ve followed monetary policy for 30 years and always been troubled by the government monopoly on currency, which is unhealthy for markets.”

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Crypto Firms to Be Regulated by Central Bank of Netherlands Starting from Jan 10 2020, Reuters Reports

Crypto Firms to Be Regulated by Central Bank of Netherlands Starting from Jan 10 2020, Reuters Reports

As reported by U.Today, Fed Chairman Jerome Powell expressed his criticism of "cybercurrencies" back in September, which provoked an immediate drop in the price of Bitcoin. 

Meanwhile, crypto-friendly US Congressman Warren Davidson made a case for tokenizing the US dollar.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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