Trump's Ex-Adviser to Launch Stablecoin

Stephen Moore is launching USD 1:1 backed token called Frax, along with co-founder of Everupedia and ex-adviser of Ronald Reagen
22 October 2019   168

Economist Stephen Moore, an adviser of Donald Trump, co-founded Frax, which will release the eponymous stablecoin to compete with central banks, Fortune reports.

Its partners are Sam Cazemian, co-founder of Everipedia (a blockchain competitor to Wikipedia) and former adviser to the Reagan administration Ralph Benko.

If I had been on the Fed, I would like to have seen encouragement for the development of cryptocurrencies like Frax. It can be a check and balance against runaway currencies.
 

Stephen Moore

Co-founder, Frax and Donald Trump's ex-adviser

He also added that the world needs a stable global currency, given the raging hyperinflation in some countries.

I’ve followed monetary policy for 30 years and always been troubled by the government monopoly on currency, which is unhealthy for markets. It’s very healthy for private competitors to challenge central banks over the money supply.
 

Stephen Moore

Co-founder, Frax and Donald Trump's ex-adviser

Frax will be pegged to the US dollar in a 1: 1 ratio, however, reserves will be used to issue loans under the control of a number of algorithms. Moore, whom Donald Trump has nominated to the Governor of the Fed, will not abandon the concept of partial reservation. 

Messari to Raise $4M

According to the CEO of the startup more than 60 cryptocurrency projects use company's services
14 November 2019   61

A crypto-industry-specific startup, Messari, has completed a funding round led by Uncork Capital, which also included Blockchain Capital, CoinFund, Danhua Capital, Fenbushi Capital, Coinbase Ventures and former Coinbase technical director Balaji Srinivasan.

Former Managing Director of CoinDesk and CEO of Messari, Ryan Selkis, noted that now more than 60 cryptocurrency projects, as well as “the world's largest exchanges, funds and information service providers” use his company’s services. According to him, the funds raised will be used to automate the processes of receiving and processing data, as well as to expand the product line.

Founded a year ago, the company previously raised $ 1 million in seed investment from Danhua Capital, Blockchain Capital, Anthemis Group and other venture capital firms.

In the third quarter, Messari introduced a regulatory compliance asset monitoring service that also measures the market supply of coins. In addition, the company launched a beta version of the Messari Pro platform, which includes a set of professional tools for market analysis.