This week’s top headlines:Kanye West, Brock Pierce announce presidential candidaciesPrediction markets say Trump wins the 2020 electionIRS requesting information about privacy-coinsCoinbase eyeing US stock market listing Stablecoin Tether now on the Bitcoin Cash network
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Brock Pierce, Kanye West announce presidential candidacies
Kanye first promised at the 2015 MTV music video awards that he would run for president and he kept his word, making an official announcement along with cryptocurrency entrepreneur Brock Pierce on Independence day. They both join a list of presidential hopefuls who are considered "bitcoin-friendly". Pierce, who once played the son of the president in the Disney film "First Kid", is a technologist best known for involvement in the Bitcoin Foundation & co-founding the EOS Alliance. In Pierce's 2020 presidential candidacy announcement video, he explains that Americans need to embrace a future filled with technological advancements and says he can help guide the country toward 21st-century technology practices.
Both Pierce and Kanye will have their work cut out for them though as a number of crypto prediction markets still have Trump winning the November election.
Trump has seen his chances lessen over the past four months since the start of the coronavirus and surrounding controversy with how the US government has dealt with the outbreak.
Current markets for questions such as "Will Donald Trump be re-elected President of the United States" can be seen on predictions.global.
The United States tax agency has published a request for information on privacy-centric cryptocurrencies, specifically directed at "industry partners" in regards to crypto assets that leverage privacy techniques and protocols that hide transaction data. The privacy-centric crypto tokens mentioned include monero, zcash, dash, grin, komodo, verge, horizon, and coins that have integrated the Schnorr Signature algorithm like bitcoin cash.
It’s being reported that Coinbase is planning a U.S. stock market listing for later this year or possibly early 2021. If successful they would become the first major American cryptocurrency exchange to go public. Instead of an IPO, where new shares are created, Coinbase is considering a direct stock market listing. No new shares are issued, eliminating the risk of diluting ownership for existing shareholders.
Tether is the king of stablecoins in the cryptocurrency ecosystem with more than $9.6 billion in existence, and this week officially minted on the Bitcoin Cash blockchain via the Simple Ledger Protocol (SLP). In a recent Reddit thread, it was shown that Tether burned 6 Million USDT and minted 6 million on BCH, theorizing that Tether will continue to test the network as another solution for the stablecoin.
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