Bitcoin News Roundup for Aug. 11, 2020
https://www.coindesk.com/bitcoin-news-roundup-for-aug-11-2020

With bitcoin increasingly acting like gold and one company betting a quarter of a billion dollars on BTC, CoinDesk's Markets Daily is back for your news roundup!

Blockchain Bites: MicroStrategy’s $250M Bitcoin Bet, India Booms, Banks Open to Custody
https://www.coindesk.com/blockchain-bites-microstrategy-250m-bitcoin-bet-india-booms-banks-open-to-custody

MicroStrategy bets $250 million on Bitcoin's safe haven thesis. Indian crypto is booming. And David Marcus has a new role at Facebook.

Coinbase Exits Industry Lobbying Group in Protest Over Recent Unspecified ‘Decisions’
https://www.coindesk.com/coinbase-exits-industry-lobbying-group-in-protest-over-recent-unspecified-decisions

Coinbase cited recent board decisions that could "irreperably impair" the Blockchain Association.

Joe Rogan for Fed Chair! Feat. Hugh Hendry
https://www.coindesk.com/joe-rogan-for-fed-chair-feat-hugh-hendry

Former hedge fund manager and financial dissident gives his take on what ails the U.S. economy and why the Federal Reserve should be more, not less, irresponsible.

How Much Ether Is Out There? Ethereum Developers Create New Scripts for Self-Verification
https://www.coindesk.com/how-much-ether-is-out-there-ethereum-developers-create-new-scripts-for-self-verification

Ethereum and Bitcoin advocates have engaged in spirited exchange since Friday to answer an ostensibly simple question: What’s the total supply of ether?

VPN Usage Surges as Belarus Remains Offline
https://www.coindesk.com/vpn-usage-surges-as-belarus-remains-offline

People in Belarus are discovering anti-censorship tools as the country experiences a major internet outage

Market Wrap: Bitcoin Stumbles to $11,300; USDC Lending Rates Skyrocket
https://www.coindesk.com/market-wrap-bitcoin-stumbles-to-11300-usdc-lending-rates-skyrocket

Bitcoin experienced heavy selling Tuesday, while traders are finding profits in stablecoin borrowing strategies.

Some Traders Now Taking Bets Ether Will Break $1K by December
https://www.coindesk.com/some-traders-now-taking-bets-ether-will-break-1k-by-december

Some option traders are now betting ether will rise to $1,000 by year’s end.

Bitcoiners Launch Cryptocurrency Relief Fund Following Beirut Explosion
https://www.coindesk.com/bitcoiners-launch-cryptocurrency-relief-fund-following-beirut-explosion

A group of Lebanese expats in Europe organized the Crypto Disaster Relief For Beirut Explosion fund to support those affected by last week's tragedy.

Unpacking the Avit, Avanti Bank’s New Digital Asset Being Built With Blockstream
https://www.coindesk.com/unpacking-the-avit-avanti-banks-new-digital-asset-being-built-with-blockstream

Avanti says the Avit will not encounter the legal, accounting or tax hurdles of stablecoins, but it’s not yet clear where the asset will fit under U.S. law.

Appeals Court Backs Coinbase in Bitcoin Gold Fork ‘Breach of Contract’ Lawsuit
https://www.coindesk.com/appeals-court-backs-coinbase-in-bitcoin-gold-fork-breach-of-contract-lawsuit

A California appeals court has backed a prior judgement that the cryptocurrency exchange wasn't obliged to to support the Bitcoin Gold hard fork in 2017.

The Linux Foundation Wants Open-Source Tech to Address Future Pandemics
https://www.coindesk.com/the-linux-foundation-wants-open-source-tech-to-address-future-pandemics

The Linux Foundation hopes open-source apps will play a key role in tracing exposure to diseases like COVID-19 while being fully transparent.

Grayscale Tells SEC Its Bitcoin Trust Rose $1.6B Over Six Months
https://www.coindesk.com/grayscale-tells-sec-bitcoin-trust-rose-six-months

Crypto investment firm Grayscale has told the SEC that the dollar-value of assets in its flagship bitcoin fund increased 90% to over $1.6 billion.

Asset Manager NYDIG Raises $5M for Third Bitcoin Fund in 2020
https://www.coindesk.com/asset-manager-nydig-raises-third-bitcoin-fund

NYDIG has set up another bitcoin fund, raising $5 million from accredited investors – it's unclear what differentiates this one from its previous funds.

Russian Financial Crime Agency Plans AI Tool to Link Crypto Transfers to Users
https://www.coindesk.com/russian-financial-crime-agency-plans-ai-tool-to-link-crypto-transfers-to-users

Russia's anti-money laundering agency Rosfinmonitoring has already built a prototype blockchain analytics tool, according to a report.

First Mover: How a DeFi Trader Made an 89% Profit in Minutes Slinging Stablecoins
https://www.coindesk.com/first-mover-how-a-defi-trader-made-an-89-profit-in-minutes-slinging-stablecoins

So-called stablecoins like tether and USDC are $1 tokens in theory, but a complex arbitrage transaction seems to have netted one trader an 89% profit in just minutes.

Ex-NYSE Broker Accused of Running $33M Crypto Scam Pleads Not Guilty
https://www.coindesk.com/ex-nyse-broker-accused-alleged-crypto-scam-pleads-not-guilty

Michael Ackerman pleaded not guilty to one count of wire fraud for his involvement in the Q3 investment club that allegedly defrauded 150 investors.

What Today’s Robinhood Rally Has in Common With the Last Crypto Boom
https://www.coindesk.com/what-todays-robinhood-rally-has-in-common-with-the-last-crypto-boom

The pandemic's "Robinhood Rally" has echoes of the 2017 crypto boom and could presage new investment trends in digital asset and traditional markets.

MicroStrategy Buys 0.1 Percent Of Total Bitcoin Supply
https://bitcoinmagazine.com/articles/microstrategy-buys-0-1-percent-of-total-bitcoin-supply?utm_source=rss&utm_medium=rss&utm_campaign=microstrategy-buys-0-1-percent-of-total-bitcoin-supply

Business intelligence firm MicroStrategy has invested $250 million into bitcoin, accumulating about 0.1 percent of the total supply.
The post MicroStrategy Buys 0.1 Percent Of Total Bitcoin Supply (https://bitcoinmagazine.com/articles/microstrategy-buys-0-1-percent-of-total-bitcoin-supply) appeared first on Bitcoin Magazine (https://bitcoinmagazine.com/).

Crypto Savings Accounts Are Coming to Fintech Firms That Use Wyre
https://www.coindesk.com/crypto-savings-accounts-are-coming-to-fintech-firms-that-use-wyre

Crypto payments startup Wyre is offering white-labeled savings accounts that dole out interest on crypto, the company announced Friday.

Crypto Exchange INX Plans $117M US IPO With Small Israeli Underwriter
https://www.coindesk.com/crypto-exchange-inx-us-ipo

Crypto exchange INX has told the SEC its upcoming IPO will be underwritten by a relatively low-profile Israeli company called A-Labs.