Litecoin (LTC) could rise another 20% amid a rare trend reversal breakout that has already resulted in LTC outperforming most crypto assets in recent days. LTC's not-so-bearish symmetrical triangle LTC's price broke out of what earlier appeared to be a bearish symmetrical triangle. Symmetrical triangles are trend continuation patterns, meaning breaking out of their range typically prompts the price to move in the direction of their previous trend. Litecoin formed a symmetrical triangle pattern between May and November after dropping 70% to nearly $40 in the prior trading sessions. Ideally, the LTC/USD pair could have resolved the pattern by breaking …

Crypto lender Celsius was one of the biggest casualties of the bear market. After halting withdrawals for months due to “extreme market conditions,” the distressed lender officially filed for Chapter 11 bankruptcy on July 13. Now, the federal judge overseeing the bankruptcy proceedings has ordered the case examiner to determine whether the company was operating like a Ponzi scheme. Disgruntled Celsius customers have made a strong case that the company’s business operations met the legal definition of a Ponzi. After all, it didn’t take long for Celsius’ business model to crumble under volatility. This is one case we should all …

Global digital peer-to-peer (P2P) payments company MoneyGram has announced on Nov. 1 that users in nearly all U.S. states and the District of Columbia, can buy, sell, and hold cryptocurrency; specifically, Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), via its MoneyGram mobile app. The digital payments company said that it plans to add more digital currencies to its app in 2023, as global regulations allow. Alex Holmes, Chairman and CEO of MoneyGram, stated: "As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services …

Cross-border transfer service MoneyGram officially launched its stablecoin-powered payment channel on Friday, giving users the ability to send USD Coin (USDC) payments worldwide that can be withdrawn as cash by recipients. The service is being rolled out across several key remittance markets, including Canada, the United States, Kenya and the Philippines, Circle and MoneyGram announced Friday. Global cash-out functionality will be available by the end of June. To encourage adoption, the USDC transfer service will carry zero fees for the first 12 months. As Cointelegraph reported, MoneyGram’s new transfer service was built on the Stellar (XLM) blockchain and allows Stellar …

MoneyGram International, one of the world’s largest cross-border transfer services, is partnering with the Stellar blockchain to create a stablecoin-based platform for money transfers. The new service will allow Stellar wallet users to send Circle’s USD Coin (USDC) to recipients, who will be able to cash them out for fiat currency through the MoneyGram network. “We’re trying to be a bridge from the crypto world to the fiat world,” MoneyGram CEO Alex Holmes said in an interview. Holmes also said MoneyGram is in talks with third-party companies that provide digital wallets in El Salvador alongside the government-backed Chivo wallets, which …

Money transmission network MoneyGram now has a minority investment in crypto ATM operator Coinme following a Series A funding round. In a Wednesday announcement, MoneyGram said it had purchased a roughly 4% ownership stake in Coinme — likely more than $764,000 given its valuation of $19.1 million in June — as part of a strategic investment in the crypto company. The investment follows a May 2021 partnership between the two firms aimed at expanding access to crypto-fiat exchanges. "We continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency and our ability to operate …

Financial services company MoneyGram International has partnered with the Stellar Development Foundation to enable consumers to send money using Circle’s popular stablecoin, USD Coin (USDC), and convert directly to and from fiat. Per a Wednesday announcement, MoneyGram has integrated support allowing crypto wallets connected to the Stellar Network to access its global retail platform. Working alongside Circle, MoneyGram will also enable “near-instant backend settlement,” account funding and local fiat withdrawals using the USDC stable token. United Texas Bank will act as the settlement bank to complete the process within the regulatory framework. “As crypto and digital currencies rise in prominence, …

Crypto adoption among mainstream payment service companies continues to grow, with MoneyGram set to join the list. In a release issued on Wednesday, the global payment service announced a partnership with crypto exchange and Bitcoin (BTC) ATM operator Coinme Inc., to allow United States customers to withdraw their cryptocurrency holdings for cash across its point-of-sale outlets in the country. As part of the announcement, MoneyGram also revealed that customers will be able to buy BTC and crypto in an expansion of the existing crypto-to-cash model pioneered by the almost 20,000 cryptocurrency ATMs around the world. Commenting on the development, MoneyGram …

Ripple CEO Brad Garlinghouse has issued a statement announcing the fintech firm and MoneyGram International have together decided to “wind down” their partnership. However, the March 8 statement noted that both companies are committed to revisiting some form of partnership together in the future. Garlinghouse noted that together, Ripple and MoneyGram International (MGI) processed billions of dollars through Ripple’s RippleNet and On-Demand Liquidity (ODL) services, stating: “While the lack of a crypto reg framework has needlessly muddied the waters for U.S. businesses & consumers, there’s no denying what Ripple and MGI have achieved together.” The Ripple CEO has repeatedly accused …

Payments company MoneyGram International has been sued over allegedly false statements made regarding its partnership with Ripple Labs and its XRP cryptocurrency. The class-action lawsuit, filed on Monday in California, was submitted by law firm Rosen on behalf of investors who purchased securities from MoneyGram between June 17, 2019 and February 22, 2021. The global investor rights legal practice asserted MoneyGram made fraudulent statements regarding its partnership with Ripple Labs and the status of XRP as a security. According to a post announcing a "strategic partnership" between the two companies in June 2019, MoneyGram utilized Ripple's xRapid product, "leveraging XRP …

Global money transfer service MoneyGram says it has changed its relationship with blockchain payments firm Ripple amid the latter's litigation with the Securities and Exchange Commission. According to MoneyGram's quarterly outlook, the company is "not planning for any benefit from Ripple market development fees" for the first quarter of 2021. MoneyGram said it had a more than $12 million net expense benefit from Ripple in the same quarter last year. "Due to the uncertainty concerning their ongoing litigation with the SEC, the Company has suspended trading on Ripple's platform," said MoneyGram. The collaboration between the two firms largely began three …

Global money transfer service MoneyGram has clarified the nature of its collaboration with its blockchain partner Ripple following the latter’s recent probe by the U.S. Securities and Exchange Commission. In a press statement issued on Dec. 23, MoneyGram revealed that it has never utilized Ripple’s counterparty services, namely On-Demand Liquidity (ODL) and RippleNet, for forex transactions. "As a reminder, MoneyGram does not utilize the ODL platform or RippleNet for direct transfers of consumer funds – digital or otherwise. Furthermore, MoneyGram is not a party to the SEC action." The company added: "MoneyGram has continued to utilize its other traditional FX …