Ripple has for the first time bought $46 million worth of XRP in the third quarter of this year. The firm said the purchase was made to support “healthy markets,” as it was potentially referring to creating interest around XRP.

Bitcoin Core developer and former Blockstream CTO Gregory Maxwell has informed Bitcoin SV users that the cryptocurrency’s developers removed the pay-to-script-hash (P2SH) function from BSV, which allowed users to send transactions by signing them to a “script.”

During an interview on CNBC, billionaire U.S. investor Stanley Druckenmiller said he owns bitcoin, making him the latest high-profile, ultra-high-net-worth investor to get exposure to the cryptocurrency space.

Top stories in the Crypto Roundup today:

• Ripple Buys $46 Million of XRP to Support ‘Healthy Markets’
• Bitcoin SV Multisig Wallet Flaw Puts User Funds at Risk
• Billionaire Investors Druckenmiller Says he Owns Bitcoin
• CVC, GNT, YFI Are Moving in the Crypto Market

Ripple Buys $46 Million of XRP to Support ‘Healthy Markets’

Ripple has for the first time bought $46 million worth of XRP in the third quarter of this year. The firm said the purchase was made to support “healthy markets,” as it was potentially referring to creating interest around XRP.

It’s worth noting Ripple already owns nearly half of the supply of the cryptocurrency. The Block cited a Ripple spokesperson as saying the firm may continue to purchase XRP and supporting its newly launched Line of Credit product, which allows On-Demand Liquidity (ODL) customers to buy XRP on credit from the firm.

The spokesperson was quoted as saying:

"Long-term, Ripple is building new ODL capabilities to dynamically source XRP liquidity from the open market, not just Ripple."

In the third quarter, Ripple reportedly sold $35.84 million worth of XRP to ODL customers, compared to $32.55 million worth of XRP sold to direct institutions in Q2.

Bitcoin SV Multisig Wallet Flaw Puts User Funds at Risk

Bitcoin Core developer and former Blockstream CTO Gregory Maxwell has informed Bitcoin SV users that the cryptocurrency’s developers removed the pay-to-script-hash (P2SH) function from BSV, which allowed users to send transactions by signing them to a “script.”

The removal allowed hackers to replace the feature on the ElectrumSV wallet and “presumably elsewhere” with a bootleg, BSV-specific version called “accumulator multi-sig” that utilized pay-to-public-key-hash (P2PKH) transactions instead.

In the post, Maxwell explained the “scripts had no security at all.” One BSV user, Aaron Zhou, lost 600 BSV to an attack exploiting the vulnerability. In an online chatroom, Zhou revealed he trusted the wallet was “safe enough” because it was introduced by pro-BSV media outlet CoinGeek.

Maxwell further added the error “could have been avoided with even the most basic testing or review.”

Billionaire Investors Druckenmiller Says he Owns Bitcoin

During an interview on CNBC, billionaire U.S. investor Stanley Druckenmiller said he owns bitcoin, making him the latest high-profile, ultra-high-net-worth investor to get exposure to the cryptocurrency space.

Druckenmiller pointed out his position in gold is “many, many more times” larger than his bitcoin allocation, he predicted his BTC holdings would outperform. He added:

"Frankly, if the gold bet works the bitcoin bet will probably work better because it's thinner, more illiquid and has a lot more beta to it."

Bitcoin, he added, has a “lof ot attraction as a store of value to both millennials and the new West Coast money.” The investor anticipated a three to four-year decline in the U.S. dollar.

CVC, GNT, YFI Are Moving in the Crypto Market

There are several tokens leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos who may have higher percentage changes.

 

Civic (CVC) – Civic is a decentralized identity ecosystem that allows for on-demand, secure and lower cost access to identity verification via the blockchain. The price of its CVC token has shot up 80.76% after Coinbase announced support for the cryptocurrency.

Golem (GNT) – The price of the GNT token, used in the decentralized computation Golem Network, moved up 33.76% in the last 24 hours, seemingly after a report on the top cryptoassets revealed it is one of the few having a working product.

Yearn.Finance (YFI) - The native token of the yield aggregator platform Yearn.finance has seen its price move up 22.98% in the last 24-hour period to $17,730. The move comes as the cryptocurrency’s price has been steadily increasing from an $8,000 low seen earlier this year.

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.