What is the exchange rate of USD (US Dollar) / CNY (Chinese renminbi) on Tuesday September 15, 2020
Get the latest mid-market rate for USD (US Dollar) / CNY (Chinese renminbi) for Tuesday September 15, 2020 right here.
The latest rates for USD (US Dollar) / CNY (Chinese renminbi) are available below. As a leading finance news site the team at Born2Invest collates and analyses the latest Forex Market data to bring you live information to help you make the right forex trading decisions.
Tuesday September 15, 2020 1 USD (US Dollar) is worth 6.771963 of CNY (Chinese renminbi) .
Remember to always trade with a reputable broker. It’s also possible to apply forex concepts to cryptocurrency trading.
Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.
Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example USD (US Dollar) and a quote currency, which would be CNY (Chinese renminbi).
The price of a currency pair represents the amount of quote currency, or CNY (Chinese renminbi), that you will need to spend in order to purchase a single unit of USD (US Dollar), the base currency. So using the current example you would need to spend 6.771963 of CNY (Chinese renminbi) in order to purchase 1 USD (US Dollar).
Forex pairs can be broadly separated into three categories; the majors, the commodity currencies, and the cross currencies:
Cryptocurrency trading shares many similarities to forex trading. Specifically the concepts of currency pairs and high price volatility. That being said there are some key differences. Cryptocurrencies don’t operate like fiat currency and many are tied to a project or product. The crypto market is also highly unregulated, which makes it inherently risky compared to trading forex.
Additionally most cryptocurrency trades happen on exchanges. These are generally unregulated and come with a certain degree of risk that many investors would find unacceptable. One alternative is to trade using a CFD broker which allows crypto pairings, but this means you will not directly own and cryptocurrency you buy.
- Lattice Exchange Announces Early Backers for a Scalable Decentralized Finance Platform for Digital Currency Built On a New Scalable Blockchain Technology
- Bezop (BEZ) 1-Day Trading Volume Hits $90.00
- BNP Paribas connects to major stock exchanges with DAML smart contracts
- Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack
- Karbo (KRB) Price Tops $0.0653 on Major Exchanges
Lattice Exchange Announces Early Backers for a Scalable Decentralized Finance Platform for Digital Currency Built On a New Scalable Blockchain Technology
SAN FRANCISCO, Sept. 15, 2020 /PRNewswire/ — Lattice Exchange (LTX), announced today they are launching their decentralized finance (DeFi) solution, built on Constellation Network’s Hypergraph, with early backers including FBG Capital and Alphabit Fund.
Lattice is the evolution of existing DeFi solutions by providing the best price and profitability for protocol users. It enables smart routing for trades and the ability to aggregate liquidity pools and incorporate multiple Automated Market Making (AMM) algorithms on Constellation’s scalable Hypergraph Network. Leveraging Constellation’s Network, trading transactions will be cheaper, more accurate, and faster than other DeFi solutions built on alternative blockchain infrastructures.
The DeFi cryptocurrency space has become a $10B market capitalization, in just three months, offering yield bearing financial solutions for cryptocurrency holders and users. Many of the current DeFi solutions are band aid solutions that sit on non-scalable infrastructures, such as Ethereum, and result in network bottlenecks and high transaction fees. The evolution of the blockchain space, and cryptocurrency industry, has opened up new ways to create trustless lending while creating an entirely new industry overnight. By leveraging Constellation’s feeless, decentralized, and secure infrastructure, Lattice will be the first major application built on top of the world’s foremost scalable protocol built by Constellation Network.
Ben Jorgensen of Constellation and Lattice states, “Constellation is on its way to becoming the most trusted network in the world. We currently work with organizations, including the US Federal Government and US AirForce, to provide an alternative secure communications protocol, akin to TCP/IP but with tokenization and security at the core. Lattice will leverage our secure communications protocol and introduce developers to new possibilities on building businesses and more secure and robust applications that have speed, security, and scalability at the core.”
Vincent Zhou, Founder of FBG Capital states, “We are excited to invest in Lattice Exchange as we believe that Lattice will offer the best solution to the high transaction fees on Ethereum in DeFi. By leveraging the Constellation Hypergraph, Lattice will aggregate liquidity and execute trades at a much lower cost. Lattice and Constellation have the potential to become the new standard for decentralized trading.” While the DeFi space is still in its early stages, it is an important movement in the blockchain space as it is bringing new utility to base layer protocols like Ethereum and Constellation.
Currently, there is a high systemic risk for investors in the DeFi ecosystem due to high transaction fees in combination with a possile severe market volatility and “blackswan” events (like we saw earlier in 2020). Mathias Goldman of Lattice and Constellation states, “By leveraging Constellation’s Hypergraph, Lattice will provide trade assurance seen in traditional securities markets and remove the possibility of network bottlenecks resulting in more complex, affordable, and complete utility of blockchain networks.”
Furthermore, Liam Robertson, CEO of Alphabit Fund, states, “As existing backers of Constellation, we believe that with the utilization of their ground-breaking Hypergraph network, Lattice will usher in the new standard for decentralized exchanges to be on par with centralized exchanges and traditional securities. Lattice is set to spearhead the decentralized exchange movement to new highs by aggregating liquidity pools, lowering fees, and evolving market making algorithms.”
About Lattice Exchange
- Telegram: https://www.t.me/Lattice_exchange
- LinkedIn: https://www.linkedin.com/company/lattice-exchange/
- Twitter: https://twitter.com/LatticeExchange
- Facebook: https://www.facebook.com/LatticeExchange/
About FBG Capital
Founded in 2015, FBG Capital is a dedicated investment platform for blockchain technology and one of the most well-known specialized organizations globally. Our fund is backed by renowned limited partners including top tier venture capital funds, family offices, as well as U.S. and China based hedge funds. With headquarters in Asia, and global footprint in the U.S., Singapore, Korea, and Israel, the firm has been a pioneer in blockchain investments and has supported over 70 projects in a wide range of frontier technologies including Zilliqa, Kyber, Republic Protocol, Nucypher, Polkadot, Omisego, MakerDao, and many more.
About Alphabit Fund
Founded in 2016, Alphabit was the first regulated Digital Currency Fund in the world. The fund has gathered a team of renowned crypto experts and are at the forefront of innovation in the blockchain technology sector. Up over 1,800% since launch, the fund has supported projects from seed level in names such as Metal, Aelf, Salt, Wax, Storm, Republic Protocol, Tap, and Sharering.
About Constellation Network, Inc.
Constellation Network Inc, is a decentralized network and ecosystem that enables seamless and secure communications between big data infrastructure and interoperability between blockchains. Using their distributed network, called Hypergraph, Constellation enables fast, zero trust, scalable solutions for enterprises and the US federal government, to improve data integrity and data assurance. The company utilizes a decentralized directed acyclic graph (DAG) network, and mathematical proofs to organize the network for speed, security.
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SOURCE Lattice Exchange
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Bezop (BEZ) 1-Day Trading Volume Hits $90.00
Bezop (CURRENCY:BEZ) traded 0.7% higher against the dollar during the one day period ending at 13:00 PM E.T. on September 15th. During the last week, Bezop has traded 2.6% higher against the dollar. One Bezop token can now be bought for $0.0025 or 0.00000023 BTC on cryptocurrency exchanges including Livecoin, IDEX, Exrates and Sistemkoin. Bezop has a total market capitalization of $137,966.32 and $90.00 worth of Bezop was traded on exchanges in the last day.
Here is how similar cryptocurrencies have performed during the last day:
Bezop Token Profile
Bezop’s launch date was November 17th, 2017. Bezop’s total supply is 89,267,250 tokens and its circulating supply is 55,685,931 tokens. Bezop’s official Twitter account is @BezopNetwork. The official website for Bezop is bezop.io. The official message board for Bezop is medium.com/@bezopnetwork. The Reddit community for Bezop is /r/bezop and the currency’s Github account can be viewed here.
Buying and Selling Bezop
Bezop can be purchased on these cryptocurrency exchanges: TOPBTC, Livecoin, IDEX, Sistemkoin, Exrates, LATOKEN and CoinBene. It is usually not presently possible to buy alternative cryptocurrencies such as Bezop directly using U.S. dollars. Investors seeking to trade Bezop should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Bezop using one of the aforementioned exchanges.
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Author: Simon Gomez
BNP Paribas connects to major stock exchanges with DAML smart contracts
Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack
A Japanese cryptocurrency exchange that suffered from a $60 million hack in 2018 is suing Binance for “aiding and abetting” the laundering of some of the stolen funds.
According to a complaint filed by Fisco in the Northern California District Court on Sept. 14, the Japanese exchange alleged that soon after it lost nearly 6,000 bitcoin in the 2018 hack, the thieves sent 1,451 bitcoin to an address belonging to Binance, which was worth $9.4 million at the time.
Fisco – called Zaif at the time of the hack – added that the thieves subsequently laundered the funds on the world’s largest exchange platform, due to its allegedly lax know-your-customer (KYC) and anti-money laundering (AML) protocols that “do not measure up to industry standards.”
Related: DeFi Lender bZx Reclaims $8M Stolen in Sunday’s Attack
The thieves are claimed to have taken advantage of Binance’s policy that allowed new users to open accounts and transact on the platform in amounts fewer than two bitcoins without needing to provide any meaningful identifying information.
“The thieves broke the stolen bitcoin into seven thousands of separate transactions and accounts, all valued below the 2-bitcoin threshold. In this way, the thieves converted the stolen bitcoin into other cryptocurrencies and transmitted the value from the Binance platform,” the plaintiff said.
Fisco alleged that since Binance was notified and had “actual knowledge” the stolen funds were sent to its platform, it “either intentionally or negligently failed to interrupt the money laundering process when it could have done so.”
As such, Fisco is demanding Binance to pay for its loss of the laundered funds in addition to other punitive damages.
Related: DeFi Lender bZx Loses $8M in Third Attack This Year
Zaif was sold by its then-parent entity Tech Bureau to Fisco shortly after the incident, which compensated users’ who had lost funds in the hack.
About $41 million worth of crypto assets from the hack belonged to Zaif customers including those based within the U.S. and California, according to the court filing.
The case has the potential to draw further attention to cryptocurrency exchanges’ KYC and AML procedures, as the Financial Action Task Force is working towards bringing global regulators in line with its 2019 anti-money laundering guidance on “virtual asset service providers,” known as the Travel Rule.
Also read: FATF Compliance Effort Adds Huobi, Bitfinex and Tether to Governance Task Force
Fisco also argued the case should be brought to trial in the California court not only because there were victims who were based in the region, but also “critical components” of Binance’s business are located in the U.S. state.
For example, Fisco said Binance uses Amazon Web Services (AWS) to host its servers and has the ability to select whichever AWS data center it chooses for its operations.
The argument comes after repeated statements made by Binance that it has no traditional physical headquarters anywhere in the world.
“Upon information and belief, a significant portion if not all of the AWS servers Binance relies on for its operations are located in the State of California. Upon information and belief, the AWS Region and AWS Availability Zones housing Binance’s digital data used to run its technical platform are located in California,” Fisco said.
In addition to Binance having hired half a dozen employees in California, Fisco argued that a significant portion of Binance’s cryptocurrency reserves is also stored in offline hardware facilities located in the San Francisco Bay Area that are controlled and managed by custodians headquartered in the region.
“For example, on July 7, 2020, Binance acquired cryptocurrency startup Swipe. Binance admits that Swipe uses Coinbase and Bitgo, both of which are located in the San Francisco Bay Area, to custody the cryptocurrency used in Swipe’s business,” the plaintiff said.
Fisco is seeking a jury trial over its allegations.
See the full court filing below:
- Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack
- Japanese Crypto Exchange Accuses Binance of Helping Launder $9M From 2018 Hack
Author: Wolfie Zhao
Karbo (KRB) Price Tops $0.0653 on Major Exchanges
Karbo (CURRENCY:KRB) traded up 0.8% against the US dollar during the one day period ending at 0:00 AM Eastern on September 14th. One Karbo coin can currently be bought for about $0.0653 or 0.00000606 BTC on cryptocurrency exchanges. Karbo has a total market cap of $567,031.86 and $22,747.00 worth of Karbo was traded on exchanges in the last 24 hours. During the last week, Karbo has traded down 0% against the US dollar.
Here’s how related cryptocurrencies have performed during the last 24 hours:
KRB is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It was first traded on May 30th, 2016. Karbo’s total supply is 8,684,478 coins. Karbo’s official website is karbowanec.com. The Reddit community for Karbo is /r/krb and the currency’s Github account can be viewed here. Karbo’s official Twitter account is @krbcoin and its Facebook page is accessible here.
Buying and Selling Karbo
Karbo can be purchased on these cryptocurrency exchanges: . It is usually not presently possible to purchase alternative cryptocurrencies such as Karbo directly using U.S. dollars. Investors seeking to trade Karbo should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Karbo using one of the aforementioned exchanges.
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Author: Chuck Agarwal