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.

Bitcoin News Roundup for Aug. 14, 2020
https://www.coindesk.com/bitcoin-news-roundup-for-aug-14-2020

With traditional finance and crypto traders both enjoying market madness, CoinDesk's Markets Daily is back with your latest crypto news roundup!

Blockchain Bites: Ripple’s Rebuff, DeFi’s ‘Degens’ and China’s CBDC
https://www.coindesk.com/blockchain-bites-ripple-defi-china

Both the U.S. and China are advancing on their central bank digital currency (CBDC) designs while a Bitcoin developer created a new programming language.

Longtime Analyst Bove Says Cryptocurrency Is One Challenge to Dollar’s Dominance
https://www.coindesk.com/bove-says-dollars-dominance-challenges-include-cryptocurrency

The noted analyst says a possible end to the U.S. dollar-ruled financial system is "frightening, yet the probability is quite high."

Money Reimagined: How a Dangerous Idea Could Work
https://www.coindesk.com/money-reimagined-how-a-dangerous-idea-could-work

Modern Monetary Theory, which says deficits don't matter, has some truth to it. But putting it into practice would be risky without modern controls.

Masternodes in Legal Limbo as Regulators Fail to Act
https://www.coindesk.com/masternodes-in-legal-limbo

U.S. regulators have yet to issue clear guidance about whether masternode operators are breaking securities laws.

Lending Protocol Aave Eyes Tokenized Mortgages With Launch of V2
https://www.coindesk.com/lending-protocol-aave-v2-tokenized-mortgages

Tokenized mortgages may be coming to decentralized finance (DeFi) following Aave v2’s specification announcement Friday.

Here Comes the Most Bizarre Bull Market Yet
https://www.coindesk.com/bizarre-bull-market-portnoy

Social unrest on the one hand, “Degen Finance” on the other. Strap in for a very weird bull run.

A WeChat Ban Should Be the Moment for Decentralized Tech. But It’s Not.
https://www.coindesk.com/wechat-ban-decentralized

President Trump’s threat to ban WeChat could disrupt the communication of millions of people. Decentralized technology is one solution, but will people really use it? Not necessarily, industry watchers say.

Enterprises Would Use DeFi, if It Weren’t so Public
https://www.coindesk.com/brody-defi

For DeFi to go mainstream, it needs to adopt the privacy large enterprises require.