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Twitter CEO Jack Dorsey has tweeted out his disapproval of Coinbase CEO Brian Armstrong steering the firm away from corporate activism, arguing that being a crypto exchange makes it engaged in activism by definition.

The MakerDAO community has voted to add three new cryptocurrencies to the decentralized finance loans that generate DAI stablecoins: Loopring’s LRC, Chainlink’s LINK, and Compound’s COMP.

The U.S. Internal Revenue Service (IRS) put out a call for companies to submit proposals for methods to break the privacy-centric cryptocurrency Monero (XMR) last month, and has now announced it chose two companies for the task.

Sponsored: Wolf.bet is a licensed cryptocurrency gambling casino known for its mobile-first approach and low house edge (1%). Their VIP program incentivizes players to wager by giving them up to 30% rakeback on every bet they place.

Top stories in the Crypto Roundup today:

  • Twitter’s Jack Dorsey Calls Out Coinbase For its Apolitical Stance
  • MakerDAO Adds Chainklink, Compound, and Loopring as DAI Collateral Options
  • IRS Paying up to$1.25 Million for Data Firms to Break Privacy-Centric Coin Monero
  • bitFlyer Brings Japanese Bitcoin Market Liquidity to Europe via Cross-Border Trading
  • Sponsored: Wolf.bet - $30,000 monthly bitcoin prizes, advanced games & more! 

 
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Twitter’s Jack Dorsey Calls Out Coinbase For its Apolitical Stance

 

Twitter CEO Jack Dorsey has tweeted out his disapproval of Coinbase CEO Brian Armstrong steering the firm away from corporate activism, arguing that being a crypto exchange makes it engaged in activism by definition.

In an open letter last weekend, Brian Armstrong wrote that Coinbase has an “apolitical culture” and that the cryptocurrency exchange would not engage in “broader societal issues” or entertain employee discussions about the. The letter was followed by a company-wide memo informing employees that if they did not like the policy, they could take a “generous” severance package. Instead.

On Twitter, Dorsey called out Coinbase by arguing that bitcoin and the cryptocurrency space are themselves activism. He wrote:

"Bitcoin (aka 'crypto') is direct activism against an unverifiable and exclusionary financial system which negatively affects so much of our society. Important to at least acknowledge and connect the related societal issues your customers face daily. This leaves people behind."

The clash comes at a time in which tensions in the United States are boiling over, with the COVID-19 pandemic and civil unrest hitting the country along with a heated presidential race.

 
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MakerDAO Adds Chainklink, Compound, and Loopring as DAI Collateral Options

 

The MakerDAO community has voted to add three new cryptocurrencies to the decentralized finance loans that generate DAI stablecoins: Loopring’s LRC, Chainlink’s LINK, and Compound’s COMP.

With these three new cryptocurrencies, MakerDAO has now added 11 new vault pairs so far this year, with MANA, WTBC, ZRX, KNC, TUSDT, PAX, USDC,, and USDT being the others. These were added partly in response to DAI losing its $1 peg, as extra collateral would incentivize collateralizing more DAI, driving the price down.

To rectify DAI’s peg, the Maker community voted to lower the collateralization requirements for DAI’s primary USDC vault, in order to pump more DAI into the market. Since the proposal was implemented the price of DAI dropped, and USDC is now the most popular collateralization options for the stablecoin.

 
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IRS Paying up to $1.25 Million for Data Firms to Break Privacy-Centric Coin Monero

 

The U.S. Internal Revenue Service (IRS) put out a call for companies to submit proposals for methods to break the privacy-centric cryptocurrency Monero (XMR) last month, and has now announced it chose two companies for the task.

These companies, transaction monitoring firm Chainalysis and data forensics firm Integra FEC, each received a contract worth up to $625,000, meaning the IRS is paying up to $1.25 million to trace transactions made with XMR, a now popular option on darknet markets.

The firms will receive an initial payment of $500,000 to develop a proposed tool or solution to trace XMR transactions, and can later receive $125,000 if the submitted tool passes the tests. Notably, the IRS’ quest to crack Monero came after crypto intelligence firm CipherTrace claimed to have created an XMR-tracing toolkit for the U.S. Department of Homeland Security.

Monero community members have disputed the possibility of firms being able to track Monero transactions. The cryptocurrency uses various methods to cover its tracks, including obfuscating wallet addresses and transaction amounts.

 
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bitFlyer Brings Japanese Bitcoin Market Liquidity to Europe via Cross-Border Trading

 

In a recent announcement, bitFLyer revealed it’s launching cross-border trading to allow bitFlyer Europe users to access the deep liquidity of the Japanese bitcoin market from the platform, while still under the umbrella of the European-regulated platform.

Japan is one of the biggest bitcoin markets in the world, with CryptoCompare data showing 10.5% of all BTC being traded against a fiat currency is traded against the Japanese Yen. The currency falls only behind the U.S. dollar and Tether’s USDT stablecoin.

Using just one account European traders can now trade bitcoin against two major fiat currencies: the euro and the Japanese yen. It’s worth noting their access to bitFlyer Japan’s liquidity is unseen to BTC/EUR trading pairs, as out of the 10.5% trading volume BTC/JPY pairs have, bitFlyer makes up over 77%.

Arbitrage opportunities are created when the same asset has a different price on different trading pairs. Some platforms were even created to help traders take advantage of these opportunities, but often the costs associated could eat away the profits. With bitFlyer’s offering, every European trader will be able to take advantage of arbitrage opportunities on the more liquid BTC/JPY pair.

In its announcement, bitFlyer pointed out that the launch of cross-border trading is revolutionary for the cryptocurrency industry.

 
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