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<\/a><\/p>\nRelated Reading: Crypto Tidbits: Lil Pump(s) Bitcoin, TD Ameritrade Launches Blockchain Division, Bitfinex Under Investigation<\/a><\/h6>\nCrypto Tidbits<\/h2>\n\n- Crypto Startup Coinbase Sees Executive Exodus:<\/strong> Announced Friday, Balaji S. Srinivasan, the co-founder of Earn.com and CoinCenter-turned-chief technology officer of Coinbase, will be leaving his stead. Srinivasan, who worked at the San Francisco-headquartered exchange for just around a year, didn’t divulge what his future plans are but noted that he appreciated spending time at Coinbase and helping the company with launching USDC, shipping new assets, and setting up staking\/voting support for Coinbase Custody. This comes just days after vice-president Dan Romero, one of the company’s earlier employees, and months after vice-president Adam White left their respective roles at Coinbase. On a side note, Coinbase Wallet, the startup’s mobile cryptocurrency storage application, added Dogecoin (DOGE) this week, despite the fact that other products in the exchange’s roster have stayed away from supporting the ‘memecoin’.<\/li>\n
- Tether Is Only 74% Backed, Bitcoin Rallies Anyway<\/strong><\/a>: Per a statement from iFinex, the holding company of both Tether Limited and Bitfinex, the USDT in circulation is backed by cash and \u201cshort-term securities\u201d (shares in iFinex secured as collateral for a line of credit with Bitfinex) valued at \u201capproximately\u201d 74% of the $2.8 billion market capitalization. It isn\u2019t clear how the $2.1 billion in assets that Tether currently owns was divided between cash and \u201ccash equivalents.\u201d Regardless of this statement, Bitcoin has rallied anyway, and USDT has held its dollar peg relatively well. Tom Lee, the head of research at Fundstrat, thinks that this might just be another sign that \u201ccrypto winter is ending.\u201d The permabull notes that if this same story broke in mid- to late-2018, the cryptocurrency market would have likely capitulated immediately, as investors may have rushed to flee the fact that some of the biggest names in this ecosystem are unbacked.<\/li>\n
- Elon Musk Tweets ‘Ethereum’, Eliciting Response From Crypto<\/strong><\/a>: On Monday afternoon, Elon Musk, an entrepreneur with the cult following of all cult followings, suddenly signal boosted the crypto space, dedicating an entire tweet to the word \u201cEthereum.\u201d He later tweeted “JK” in direct reply to that tweet. His intentions remain unclear. Regardless, the community tried to speculate what he meant. Even Vitalik Buterin, the Russian-Canadian genius behind the protocol, threw his hat into the ring. Buterin implored Musk to \u201ccome to our Devcon in October,\u201d to which Musk responded, \u201cStop giving away free ETH!,\u201d further referencing the cryptocurrency swindlers that were all the rage in early-2018. The Ethereum founder later issued a number of tweets on the value proposition of the project, presumably in a bid to catch Musk’s interest further than scams.<\/li>\n<\/ul>\n
\nEthereum<\/p>\n
— Elon Musk (@elonmusk) April 30, 2019<\/a><\/p><\/blockquote>\n
- \n
- Crypto Startup Coinbase Sees Executive Exodus:<\/strong> Announced Friday, Balaji S. Srinivasan, the co-founder of Earn.com and CoinCenter-turned-chief technology officer of Coinbase, will be leaving his stead. Srinivasan, who worked at the San Francisco-headquartered exchange for just around a year, didn’t divulge what his future plans are but noted that he appreciated spending time at Coinbase and helping the company with launching USDC, shipping new assets, and setting up staking\/voting support for Coinbase Custody. This comes just days after vice-president Dan Romero, one of the company’s earlier employees, and months after vice-president Adam White left their respective roles at Coinbase. On a side note, Coinbase Wallet, the startup’s mobile cryptocurrency storage application, added Dogecoin (DOGE) this week, despite the fact that other products in the exchange’s roster have stayed away from supporting the ‘memecoin’.<\/li>\n
- Tether Is Only 74% Backed, Bitcoin Rallies Anyway<\/strong><\/a>: Per a statement from iFinex, the holding company of both Tether Limited and Bitfinex, the USDT in circulation is backed by cash and \u201cshort-term securities\u201d (shares in iFinex secured as collateral for a line of credit with Bitfinex) valued at \u201capproximately\u201d 74% of the $2.8 billion market capitalization. It isn\u2019t clear how the $2.1 billion in assets that Tether currently owns was divided between cash and \u201ccash equivalents.\u201d Regardless of this statement, Bitcoin has rallied anyway, and USDT has held its dollar peg relatively well. Tom Lee, the head of research at Fundstrat, thinks that this might just be another sign that \u201ccrypto winter is ending.\u201d The permabull notes that if this same story broke in mid- to late-2018, the cryptocurrency market would have likely capitulated immediately, as investors may have rushed to flee the fact that some of the biggest names in this ecosystem are unbacked.<\/li>\n
- Elon Musk Tweets ‘Ethereum’, Eliciting Response From Crypto<\/strong><\/a>: On Monday afternoon, Elon Musk, an entrepreneur with the cult following of all cult followings, suddenly signal boosted the crypto space, dedicating an entire tweet to the word \u201cEthereum.\u201d He later tweeted “JK” in direct reply to that tweet. His intentions remain unclear. Regardless, the community tried to speculate what he meant. Even Vitalik Buterin, the Russian-Canadian genius behind the protocol, threw his hat into the ring. Buterin implored Musk to \u201ccome to our Devcon in October,\u201d to which Musk responded, \u201cStop giving away free ETH!,\u201d further referencing the cryptocurrency swindlers that were all the rage in early-2018. The Ethereum founder later issued a number of tweets on the value proposition of the project, presumably in a bid to catch Musk’s interest further than scams.<\/li>\n<\/ul>\n
\n
Ethereum<\/p>\n
— Elon Musk (@elonmusk) April 30, 2019<\/a><\/p><\/blockquote>\n
- Tether Is Only 74% Backed, Bitcoin Rallies Anyway<\/strong><\/a>: Per a statement from iFinex, the holding company of both Tether Limited and Bitfinex, the USDT in circulation is backed by cash and \u201cshort-term securities\u201d (shares in iFinex secured as collateral for a line of credit with Bitfinex) valued at \u201capproximately\u201d 74% of the $2.8 billion market capitalization. It isn\u2019t clear how the $2.1 billion in assets that Tether currently owns was divided between cash and \u201ccash equivalents.\u201d Regardless of this statement, Bitcoin has rallied anyway, and USDT has held its dollar peg relatively well. Tom Lee, the head of research at Fundstrat, thinks that this might just be another sign that \u201ccrypto winter is ending.\u201d The permabull notes that if this same story broke in mid- to late-2018, the cryptocurrency market would have likely capitulated immediately, as investors may have rushed to flee the fact that some of the biggest names in this ecosystem are unbacked.<\/li>\n