🔔Here is our new cryptocurrency digest for you. Check out everything you need to know about digital assets, their price fluctuations, highs and lows over the 7-day period.
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🔥Summer is in full swing, and we have a hot digest for you.
Find out the latest market capitalization, cryptocurrencies and their prices. You’ll see highs and lows over the 7-day period right here.
Find out the latest market capitalization, cryptocurrencies and their prices. You’ll see highs and lows over the 7-day period right here.
💥 It’s finally Friday, and here is our weekly digest. We’ve collected the hottest cryptocurrency and blockchain news. Check them out:
✅ ARK Invest’s Cathie Wood noticed that BTC should be considered a new asset class, one that may even serve as a reserve currency in the near future. She said: “You think about the traditional 60/40 stock-bond portfolio, but look what’s happening to bonds right now. If we are ending a 40-year secular decline in interest rates, that asset class has done its thing. What’s next? We think crypto could be the solution”.
✅ Cryptoсurrency fraudster robbed 3 500 victims of over $16 million in crypto. He has pleaded guilty.
✅ In a Bloomberg interview, Jesse Powell, co-founder and CEO of Kraken predicted that BTC could reach $1 million in the next decade and replace the major fiat currencies. “We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity”. He also added: “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency”.
✅ ARK Invest’s Cathie Wood noticed that BTC should be considered a new asset class, one that may even serve as a reserve currency in the near future. She said: “You think about the traditional 60/40 stock-bond portfolio, but look what’s happening to bonds right now. If we are ending a 40-year secular decline in interest rates, that asset class has done its thing. What’s next? We think crypto could be the solution”.
✅ Cryptoсurrency fraudster robbed 3 500 victims of over $16 million in crypto. He has pleaded guilty.
✅ In a Bloomberg interview, Jesse Powell, co-founder and CEO of Kraken predicted that BTC could reach $1 million in the next decade and replace the major fiat currencies. “We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity”. He also added: “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency”.
💃 🕺that feeling when you see a Friday digest with top-3 news of this week. Take a look at them right now!
⚡️According to a newsletter published by a cryptocurrency metrics platform Glassnode on Monday, Bitcoin miners gained a record-breaking revenue up to $52.3 million per day on average.
But Glassnode’s charts showed that on a day-to-day basis, miners' profits have boosted significantly higher on March 14. For example, the current all-time high of Bitcoin miners’ daily profit was $64.7 million.
⚡️As Cointelegraph reported, BTC is now worth more than Visa and Mastercard combined. The biggest cryptocurrency surpassed financial giants by market capitalization. At its all-time highs of $61,700, the market cap of Bitcoin was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China is $1.08 trillion.
And that’s not all: Visa and Mastercard, have a combined market cap of $871 billion. This sum is now significantly less than Bitcoin.
⚡️European financial authorities published a report “Trends, Risks and Vulnerabilities”. They analyzed the impact of COVID-19 on the financial industry. They warned about the increased risks linked with investment in cryptocurrencies.
The authorities mentioned that crypto assets faced a massive rise in value and trading volumes during the second half of 2020. They noticed that it was driven by positive news (for example, PayPal implemented buy and sell options for cryptocurrencies). Moreover, the interest was fuelled “by strong investor demand and search for yield amid unprecedented global fiscal and monetary stimulus”.
⚡️According to a newsletter published by a cryptocurrency metrics platform Glassnode on Monday, Bitcoin miners gained a record-breaking revenue up to $52.3 million per day on average.
But Glassnode’s charts showed that on a day-to-day basis, miners' profits have boosted significantly higher on March 14. For example, the current all-time high of Bitcoin miners’ daily profit was $64.7 million.
⚡️As Cointelegraph reported, BTC is now worth more than Visa and Mastercard combined. The biggest cryptocurrency surpassed financial giants by market capitalization. At its all-time highs of $61,700, the market cap of Bitcoin was roughly $1.15 trillion. The combined market cap of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China is $1.08 trillion.
And that’s not all: Visa and Mastercard, have a combined market cap of $871 billion. This sum is now significantly less than Bitcoin.
⚡️European financial authorities published a report “Trends, Risks and Vulnerabilities”. They analyzed the impact of COVID-19 on the financial industry. They warned about the increased risks linked with investment in cryptocurrencies.
The authorities mentioned that crypto assets faced a massive rise in value and trading volumes during the second half of 2020. They noticed that it was driven by positive news (for example, PayPal implemented buy and sell options for cryptocurrencies). Moreover, the interest was fuelled “by strong investor demand and search for yield amid unprecedented global fiscal and monetary stimulus”.
📰 April is finally here, and it’s time to check out the biggest cryptocurrency stories of this March. Take a look at them.
▪️ Bitcoin spiked to a new record high over $61K
The biggest cryptocurrency by market cap crossed $61,000 and set an all-time high in the middle of March.
▪️Morgan Stanley and Goldman Sachs will offer their wealthy clients access to cryptocurrency funds
Morgan Stanley said it will start offering BTC exposure to its wealthy clients. Banking powerhouse Goldman Sachs told CNBC that it's looking to offer a "full-spectrum" of cryptocurrency investments for its private wealth clients within the next few months.
▪️Visa and PayPal will allow customers to pay with cryptos
Both Visa and PayPal are joining a growing number of companies that offer cryptocurrencies as a means of payment.
Visa will allow customers to specifically use the cryptocurrency USD Coin in transactions made across its payment network.
PayPal announced that its U.S. users will be able to pay with Bitcoin, Ethereum, Litecoin, or Bitcoin Cash. Any payment made in cryptocurrency will immediately be converted to USD in order to process a transaction.
▪️ Bitcoin spiked to a new record high over $61K
The biggest cryptocurrency by market cap crossed $61,000 and set an all-time high in the middle of March.
▪️Morgan Stanley and Goldman Sachs will offer their wealthy clients access to cryptocurrency funds
Morgan Stanley said it will start offering BTC exposure to its wealthy clients. Banking powerhouse Goldman Sachs told CNBC that it's looking to offer a "full-spectrum" of cryptocurrency investments for its private wealth clients within the next few months.
▪️Visa and PayPal will allow customers to pay with cryptos
Both Visa and PayPal are joining a growing number of companies that offer cryptocurrencies as a means of payment.
Visa will allow customers to specifically use the cryptocurrency USD Coin in transactions made across its payment network.
PayPal announced that its U.S. users will be able to pay with Bitcoin, Ethereum, Litecoin, or Bitcoin Cash. Any payment made in cryptocurrency will immediately be converted to USD in order to process a transaction.
💥We have a Friday digest for you. Take a look at the biggest news in the cryptocurrency industry right now:
🔹Ethereum reached its highest price
According to CoinDesk, ETH hit an all-time high of $2,151.25 on Tuesday. It is up over 180% year-to-date.
🔹Fidelity’s Tom Jessop: “We’ve reached a tipping point” on crypto adoption
Tom Jessop, head of Fidelity Digital Assets at Fidelity Investments, participated in the MarketWatch virtual event. He said that the maturation and adoption of cryptocurrencies as a way of investments will boost in coming years, signaling that digital assets may have turned a corner in traditional finance circles.
He also added: “We’re not going to get out of this simulated environment anytime soon. I think we’ve reached a tipping point.”
🔹Market cap surges to record $2 trillion
According to information produced by CoinGecko and Blockfolio, the cryptocurrency market capitalization hit an all-time peak of $2.02 trillion on Monday. This surge is a result of attracting demand from both institutional and retail investors.
🔹Ethereum reached its highest price
According to CoinDesk, ETH hit an all-time high of $2,151.25 on Tuesday. It is up over 180% year-to-date.
🔹Fidelity’s Tom Jessop: “We’ve reached a tipping point” on crypto adoption
Tom Jessop, head of Fidelity Digital Assets at Fidelity Investments, participated in the MarketWatch virtual event. He said that the maturation and adoption of cryptocurrencies as a way of investments will boost in coming years, signaling that digital assets may have turned a corner in traditional finance circles.
He also added: “We’re not going to get out of this simulated environment anytime soon. I think we’ve reached a tipping point.”
🔹Market cap surges to record $2 trillion
According to information produced by CoinGecko and Blockfolio, the cryptocurrency market capitalization hit an all-time peak of $2.02 trillion on Monday. This surge is a result of attracting demand from both institutional and retail investors.
Quantum.uk | Buy, sell and store cryptocurrencies pinned «💥We have a Friday digest for you. Take a look at the biggest news in the cryptocurrency industry right now: 🔹Ethereum reached its highest price According to CoinDesk, ETH hit an all-time high of $2,151.25 on Tuesday. It is up over 180% year-to-date. 🔹Fidelity’s…»
😎Are you ready to see the hottest cryptocurrency and blockchain news of this week? Here we’ve collected TOP-3 stories. Take a look at them:
▪️Bitcoin rocketed above $63K
According to data from Coin Metrics, the leading cryptocurrency turned bullish and soared as high as $63,729.
▪️Coinbase valued at more than multinational oil and gas giant BP
Cryptocurrency firm Coinbase, the US’s largest cryptocurrency exchange, hit a market value of nearly $100bn (£72.5bn) in its stock market listing.
It debuted on the Nasdaq at a price of $381 but later closed below $330.
The initial valuation put this trading platform ahead of many well-known firms. For example, oil giant BP and key stock exchanges.
▪️ETH reached its new all-time high
Ethereum’s price rally continues. The second-largest cryptocurrency in terms of market capitalization and volume has set the highest price. It’s trading above $2,500 for the first time ever.
▪️Bitcoin rocketed above $63K
According to data from Coin Metrics, the leading cryptocurrency turned bullish and soared as high as $63,729.
▪️Coinbase valued at more than multinational oil and gas giant BP
Cryptocurrency firm Coinbase, the US’s largest cryptocurrency exchange, hit a market value of nearly $100bn (£72.5bn) in its stock market listing.
It debuted on the Nasdaq at a price of $381 but later closed below $330.
The initial valuation put this trading platform ahead of many well-known firms. For example, oil giant BP and key stock exchanges.
▪️ETH reached its new all-time high
Ethereum’s price rally continues. The second-largest cryptocurrency in terms of market capitalization and volume has set the highest price. It’s trading above $2,500 for the first time ever.
💥The latest digest is here. Check out top-3 news:
▪️ ETH soars to record high of $2,600
Ethereum’s price rally continues. The second-largest cryptocurrency has bucked market trends by hitting a new all-time high on Thursday. It’s trading above $2,600 for the first time ever.
▪️ Crypto payments banned in Turkey
The Central Bank of the Republic of Turkey announced that it will forbid cryptocurrencies as a payment method. The use of digital wallet providers as fiat on-ramps for crypto exchanges will be also prohibited.
This regulation will go into effect by the end of this month.
▪️ Bitcoin Recently Fell Through A Key Support Level
According to Bitstamp, BTC has crashed beneath the $50,000 psychological support line hitting its lowest point in 48 days. It slumped to $48,300 on Thursday.
▪️ ETH soars to record high of $2,600
Ethereum’s price rally continues. The second-largest cryptocurrency has bucked market trends by hitting a new all-time high on Thursday. It’s trading above $2,600 for the first time ever.
▪️ Crypto payments banned in Turkey
The Central Bank of the Republic of Turkey announced that it will forbid cryptocurrencies as a payment method. The use of digital wallet providers as fiat on-ramps for crypto exchanges will be also prohibited.
This regulation will go into effect by the end of this month.
▪️ Bitcoin Recently Fell Through A Key Support Level
According to Bitstamp, BTC has crashed beneath the $50,000 psychological support line hitting its lowest point in 48 days. It slumped to $48,300 on Thursday.
May is coming! Let’s check out the most important news of this month:
🔸Coinbase stock debuted on Nasdaq. It is luring public market investors who've been waiting to get into the cryptocurrency industry.
🔸BTC and ETH reached the highest price in history. The price of bitcoin climbed as high as $63,729.5, according to data produced by Coin Metrics. Based on CoinDesk information, Ethereum soared by $2,718.
🔸The Bank of Japan begins the first digital currency proof of concept. The first phase of Japan’s CBDC pilots will have been completed by March 2022.
🔸The Central Bank of the Republic of Turkey will forbid cryptocurrencies as a payment method. This regulation will go into effect by the end of this month.
🔸Investment platform eToro reported that it will go public through a business combination with FinTech Acquisition Corp. V.
🔸Coinbase stock debuted on Nasdaq. It is luring public market investors who've been waiting to get into the cryptocurrency industry.
🔸BTC and ETH reached the highest price in history. The price of bitcoin climbed as high as $63,729.5, according to data produced by Coin Metrics. Based on CoinDesk information, Ethereum soared by $2,718.
🔸The Bank of Japan begins the first digital currency proof of concept. The first phase of Japan’s CBDC pilots will have been completed by March 2022.
🔸The Central Bank of the Republic of Turkey will forbid cryptocurrencies as a payment method. This regulation will go into effect by the end of this month.
🔸Investment platform eToro reported that it will go public through a business combination with FinTech Acquisition Corp. V.
📰Friday is finally here, and we have the hottest news in our weekly digest. Check them out:
Goldman Sachs banker quits after making millions on cryptocurrencies
According to CNBC, Aziz McMahon, Goldman’s managing director and head of emerging market sales in London, quit after making millions of pounds from a bet on the digital currency either, three former employees at the investment bank.
World’s largest crypto exchange Binance is reportedly under investigation by the Justice Department and IRS
Binance, the largest cryptocurrency exchange in the world, is being investigated by the Internal Revenue Service and the Department of Justice, Bloomberg reports, with officials who handle money laundering and tax offenses in particular taking an interest in Binance’s business.
Ethereum miners see higher revenue than Bitcoin miners
Mining Ethereum has turned even more profitable after the second-largest cryptocurrency gained support above $4,000.
According to information published by The Block, Ethereum miners recorded $77.36 mln in daily revenue on Monday, while Bitcoin miners recorded $67.17 mln.
Goldman Sachs banker quits after making millions on cryptocurrencies
According to CNBC, Aziz McMahon, Goldman’s managing director and head of emerging market sales in London, quit after making millions of pounds from a bet on the digital currency either, three former employees at the investment bank.
World’s largest crypto exchange Binance is reportedly under investigation by the Justice Department and IRS
Binance, the largest cryptocurrency exchange in the world, is being investigated by the Internal Revenue Service and the Department of Justice, Bloomberg reports, with officials who handle money laundering and tax offenses in particular taking an interest in Binance’s business.
Ethereum miners see higher revenue than Bitcoin miners
Mining Ethereum has turned even more profitable after the second-largest cryptocurrency gained support above $4,000.
According to information published by The Block, Ethereum miners recorded $77.36 mln in daily revenue on Monday, while Bitcoin miners recorded $67.17 mln.
💥Are you ready to check out our new digest? Take a look at the most important stories of this week below:
Bitcoin Price Bounces After Cryptocurrency Crash Shocks Market
Bitcoin recovered more than 4% to $40,077.40 on Thursday. It had dropped more than 11% by 5 p.m. ET on Wednesday, after earlier plunging almost 30%.
This week’s crypto crash has helped erase almost 40% of bitcoin’s price from a peak of almost $65,000 in mid-April. Some are worried that the worst is far from over. The rapid drop has forced many investors to unwind bets made with borrowed money, adding to the pressure on prices for a swath of cryptocurrencies.
Financial authorities signal stronger risk, tax oversight for cryptocurrencies
U.S. Federal Reserve chief Jerome Powell turned up the heat on cryptocurrencies on Thursday, saying they pose risks to financial stability, and indicating that greater regulation of the increasingly popular electronic currency may be warranted.
Bison Trails: about 80% of central banks are exploring CBDC use cases
The potential launch of private cryptocurrencies such as the Facebook-backed Diem is motivating central banks to develop CBDCs, the report noted.
The report examines digital currency proofs-of-concept launched by more than 11 countries and cities, including Hong Kong, Thailand, China, Australia, Singapore, and Japan.
It is important to notice that China is close to launching the digital yuan and is testing the CBDC with commercial institutions and the public.
Bitcoin Price Bounces After Cryptocurrency Crash Shocks Market
Bitcoin recovered more than 4% to $40,077.40 on Thursday. It had dropped more than 11% by 5 p.m. ET on Wednesday, after earlier plunging almost 30%.
This week’s crypto crash has helped erase almost 40% of bitcoin’s price from a peak of almost $65,000 in mid-April. Some are worried that the worst is far from over. The rapid drop has forced many investors to unwind bets made with borrowed money, adding to the pressure on prices for a swath of cryptocurrencies.
Financial authorities signal stronger risk, tax oversight for cryptocurrencies
U.S. Federal Reserve chief Jerome Powell turned up the heat on cryptocurrencies on Thursday, saying they pose risks to financial stability, and indicating that greater regulation of the increasingly popular electronic currency may be warranted.
Bison Trails: about 80% of central banks are exploring CBDC use cases
The potential launch of private cryptocurrencies such as the Facebook-backed Diem is motivating central banks to develop CBDCs, the report noted.
The report examines digital currency proofs-of-concept launched by more than 11 countries and cities, including Hong Kong, Thailand, China, Australia, Singapore, and Japan.
It is important to notice that China is close to launching the digital yuan and is testing the CBDC with commercial institutions and the public.
🔥Top-3 news of this week.
Goldman Sachs: ETH has the potential to be bigger than BTC
A recent report by Goldman Sachs lauded the potential for Ethereal to rise and become the market’s cryptocurrency of choice, adding to the latest chorus of anti-Bitcoin skeptics.
According to a recent report by Goldman Sachs, Ethereum has the potential to overtake Bitcoin as the top crypto due to its relatively diverse capabilities for various applications that could lead it to become the «Amazon of trusted information».
Vitalik Buterin criticizes Elon Musk over Dogecoin proposals
ETH creator has criticized Elon Musk for his proposed changes to Dogecoin’s blockchain.
The Tesla billionaire, who has become a bit of a love/hate figure in crypto circles, recently said that he would like to see DOGE’s block size and block times be 10 times faster than now — with fees 100 times lower than they are now. Then, Musk said, its network would “win hands down.”
Although this sounds incredibly tempting, the Ethereum co-founder says such a feat is difficult to achieve “without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is.”
Spanish crypto investors set to be taxed on ‘overseas’ holdings
The Spanish parliament has voted in favor of a controversial new law that will require citizens to report overseas crypto holdings, as the government appears ready to take “more control” over the crypto sector.
According to an official government release, the new law will oblige investors “to report on holdings and operations with cryptocurrencies,” on tokens “both located in Spain and abroad” if the transactions “affect Spanish taxpayers.”
The government added that “information will be required on the balances and holders of the coins, as well as on all types of operations that have been carried out with them.”
Goldman Sachs: ETH has the potential to be bigger than BTC
A recent report by Goldman Sachs lauded the potential for Ethereal to rise and become the market’s cryptocurrency of choice, adding to the latest chorus of anti-Bitcoin skeptics.
According to a recent report by Goldman Sachs, Ethereum has the potential to overtake Bitcoin as the top crypto due to its relatively diverse capabilities for various applications that could lead it to become the «Amazon of trusted information».
Vitalik Buterin criticizes Elon Musk over Dogecoin proposals
ETH creator has criticized Elon Musk for his proposed changes to Dogecoin’s blockchain.
The Tesla billionaire, who has become a bit of a love/hate figure in crypto circles, recently said that he would like to see DOGE’s block size and block times be 10 times faster than now — with fees 100 times lower than they are now. Then, Musk said, its network would “win hands down.”
Although this sounds incredibly tempting, the Ethereum co-founder says such a feat is difficult to achieve “without leading to extreme centralization and compromising the fundamental properties that make a blockchain what it is.”
Spanish crypto investors set to be taxed on ‘overseas’ holdings
The Spanish parliament has voted in favor of a controversial new law that will require citizens to report overseas crypto holdings, as the government appears ready to take “more control” over the crypto sector.
According to an official government release, the new law will oblige investors “to report on holdings and operations with cryptocurrencies,” on tokens “both located in Spain and abroad” if the transactions “affect Spanish taxpayers.”
The government added that “information will be required on the balances and holders of the coins, as well as on all types of operations that have been carried out with them.”
Friday digest is waiting for you. Take a look at the biggest news of the first week of June.
⚡️ China to hand out $6.2 million in digital currency to Beijing residents as part of the trial
China is a front-runner in the global race to launch central bank digital currencies (CBDC) and has held trials in several major cities including Shenzhen and Shanghai.
This time it will hand out 40 million renminbi ($6.2 million) of its digital currency to citizens in Beijing in a lottery. Residents of the Chinese capital can use two banking apps to apply to win one of 200,000 so-called red packets as part of the lottery.
⚡️ Norton antivirus adds ETH cryptocurrency mining
In a surprise move, one of the world's best-known anti-virus software makers is adding cryptocurrency mining to its products.
Norton 360 customers will have access to an Ethereum mining feature in the "coming weeks", the company said.
Cryptocurrency "mining" works by using a computer's hardware to do complex calculations in exchange for a reward.
⚡️ Google will let firms launch advertisements about cryptocurrency wallets. ICO is still prohibited
The world’s biggest digital advertising seller will let companies run ads starting this August.
Google is making the change “in order to better match existing FinCEN regulations and requirements” - mentioned in a statement.
In a blog post, Google specified that the ad ban still exists for initial coin offerings and services that aggregate or compare issuers of cryptocurrencies.
⚡️ China to hand out $6.2 million in digital currency to Beijing residents as part of the trial
China is a front-runner in the global race to launch central bank digital currencies (CBDC) and has held trials in several major cities including Shenzhen and Shanghai.
This time it will hand out 40 million renminbi ($6.2 million) of its digital currency to citizens in Beijing in a lottery. Residents of the Chinese capital can use two banking apps to apply to win one of 200,000 so-called red packets as part of the lottery.
⚡️ Norton antivirus adds ETH cryptocurrency mining
In a surprise move, one of the world's best-known anti-virus software makers is adding cryptocurrency mining to its products.
Norton 360 customers will have access to an Ethereum mining feature in the "coming weeks", the company said.
Cryptocurrency "mining" works by using a computer's hardware to do complex calculations in exchange for a reward.
⚡️ Google will let firms launch advertisements about cryptocurrency wallets. ICO is still prohibited
The world’s biggest digital advertising seller will let companies run ads starting this August.
Google is making the change “in order to better match existing FinCEN regulations and requirements” - mentioned in a statement.
In a blog post, Google specified that the ad ban still exists for initial coin offerings and services that aggregate or compare issuers of cryptocurrencies.
😎Friday is finally here. Take a look at the biggest cryptocurrency news of this week.
El Salvador is the 1st country in the world that makes bitcoin legal tender
It became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele’s proposal to embrace the cryptocurrency, a move that delighted the currency’s supporters.
Bukele has touted the use of BTC for its potential to help Salvadorans living abroad to send remittances back home while saying the American dollar will also continue as legal tender. In practice, El Salvador does not have its currency.
China blocked several social media accounts about cryptocurrencies
A slew of crypto-related accounts in China’s Twitter-like Weibo platform was blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining. Among them were the profiles of Blockbeats and 8BTC.
More actions are expected, including linking illegal crypto activities in China more directly with the country's criminal law, according to analysts and a financial regulator.
1% of Bitcoin’s supply has been locked in the WBTC protocol
One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC) on Ethereum, equating to nearly $6.2 bln worth of BTC.
The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri. He tweeted about it this week. BitGo is the custodian for the Wrapped Bitcoin protocol, which launched its Bitcoin-backed ERC-20 token WBTC on Ethereum in January 2019.
El Salvador is the 1st country in the world that makes bitcoin legal tender
It became the first country in the world to adopt bitcoin as legal tender after Congress on Wednesday approved President Nayib Bukele’s proposal to embrace the cryptocurrency, a move that delighted the currency’s supporters.
Bukele has touted the use of BTC for its potential to help Salvadorans living abroad to send remittances back home while saying the American dollar will also continue as legal tender. In practice, El Salvador does not have its currency.
China blocked several social media accounts about cryptocurrencies
A slew of crypto-related accounts in China’s Twitter-like Weibo platform was blocked over the weekend, as Beijing stepped up a crackdown on bitcoin trading and mining. Among them were the profiles of Blockbeats and 8BTC.
More actions are expected, including linking illegal crypto activities in China more directly with the country's criminal law, according to analysts and a financial regulator.
1% of Bitcoin’s supply has been locked in the WBTC protocol
One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC) on Ethereum, equating to nearly $6.2 bln worth of BTC.
The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri. He tweeted about it this week. BitGo is the custodian for the Wrapped Bitcoin protocol, which launched its Bitcoin-backed ERC-20 token WBTC on Ethereum in January 2019.
🥳It’s finally Friday, and here is our weekly digest. We’ve prepared the hottest cryptocurrency and blockchain news for you. Take a look at them!
Chinese bank integrated digital CNY to cash exchange at over 3,000 ATMs
A state-owned Chinese commercial bank has enabled a feature allowing users to convert their digital yuan to cash via 3,000 ATMs in Beijing.
According to a report produced by Xinhua Finance, The Industrial and Commerce Bank of China became the first financial organization in the country to integrate this version.
It lets consumers exchange cryptocurrencies smoothly. So, the new digital era is coming.
Musk says Tesla will accept bitcoin again as crypto miners use more clean energy
Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners (~50%).
Morgan Stanley: digital EUR could drain 8% of bank deposits
Banks in smaller countries like Latvia, Estonia, and Greece could be more seriously impacted by the digital euro, analysts said.
Analysts at Morgan Stanley have estimated the likely changes in eurozone banks’ deposits should a digital EUR be widely adopted.
According to the analysts, a European Union central bank digital currency (CBDC) could suck up 8% of customer deposits from eurozone financial organizations.
Chinese bank integrated digital CNY to cash exchange at over 3,000 ATMs
A state-owned Chinese commercial bank has enabled a feature allowing users to convert their digital yuan to cash via 3,000 ATMs in Beijing.
According to a report produced by Xinhua Finance, The Industrial and Commerce Bank of China became the first financial organization in the country to integrate this version.
It lets consumers exchange cryptocurrencies smoothly. So, the new digital era is coming.
Musk says Tesla will accept bitcoin again as crypto miners use more clean energy
Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners (~50%).
Morgan Stanley: digital EUR could drain 8% of bank deposits
Banks in smaller countries like Latvia, Estonia, and Greece could be more seriously impacted by the digital euro, analysts said.
Analysts at Morgan Stanley have estimated the likely changes in eurozone banks’ deposits should a digital EUR be widely adopted.
According to the analysts, a European Union central bank digital currency (CBDC) could suck up 8% of customer deposits from eurozone financial organizations.
The hottest news of this week
Japan's FSA warns against cryptocurrency exchange giant Binance
Japan's top financial market regulator published a warning this Friday that Binance is not registered to do business with residents of Japan. It added that the company is operating in the country without any permission.
El Salvador to airdrop $30 in Bitcoin to every adult citizen
Every Salvadoran adult who downloads the government's Bitcoin wallet app will be eligible for an airdrop of $30 worth of BTC.
Blockchain .com collaborated with Unstoppable Domains to simplify sending cryptocurrencies
Unstoppable Domains announced Thursday that it had integrated native support for Blockchain .com, enabling that latter's 32 mln verified consumers to send funds with a username instead of a full-length crypto wallet address.
Japan's FSA warns against cryptocurrency exchange giant Binance
Japan's top financial market regulator published a warning this Friday that Binance is not registered to do business with residents of Japan. It added that the company is operating in the country without any permission.
El Salvador to airdrop $30 in Bitcoin to every adult citizen
Every Salvadoran adult who downloads the government's Bitcoin wallet app will be eligible for an airdrop of $30 worth of BTC.
Blockchain .com collaborated with Unstoppable Domains to simplify sending cryptocurrencies
Unstoppable Domains announced Thursday that it had integrated native support for Blockchain .com, enabling that latter's 32 mln verified consumers to send funds with a username instead of a full-length crypto wallet address.
Hands up if you like our digest! Take a look at the latest news of this week:
⚡️China’s war on crypto just hit a new level with its latest crypto crackdown. China’s central bank had called for the shutdown of firms that “were suspected of providing software services for virtual currency transactions.”
⚡️Jack Dorsey, CEO of Twitter, confirms Square is building an ‘assisted custody’ BTC hardware wallet. The company plans to make Bitcoin custody more mainstream.
⚡️Bitstamp announced that it had seen a 138% growth in customer numbers since the FCA said Binance Markets has no permission to operate in the U.K.
⚡️China’s war on crypto just hit a new level with its latest crypto crackdown. China’s central bank had called for the shutdown of firms that “were suspected of providing software services for virtual currency transactions.”
⚡️Jack Dorsey, CEO of Twitter, confirms Square is building an ‘assisted custody’ BTC hardware wallet. The company plans to make Bitcoin custody more mainstream.
⚡️Bitstamp announced that it had seen a 138% growth in customer numbers since the FCA said Binance Markets has no permission to operate in the U.K.
😎Summer is in full swing, and we have a hot digest for you. Check it out.
U.S. Federal Reserve Chair Jerome Powell mentioned that a Fed report would come in early September. This document will be addressed to digital assets, stablecoins and CBDCs.
ECB plans to develop a digital euro
The European Central Bank has been discussing the potential launch of a eurozone central bank digital currency since the beginning of the year. Its investigation phase will last 24 months.
Binance excluded stock tokens from the platform
The crypto exchange said that stock tokens are unavailable for purchasing tokens linked to stocks barely three months after starting them.
U.S. Federal Reserve Chair Jerome Powell mentioned that a Fed report would come in early September. This document will be addressed to digital assets, stablecoins and CBDCs.
ECB plans to develop a digital euro
The European Central Bank has been discussing the potential launch of a eurozone central bank digital currency since the beginning of the year. Its investigation phase will last 24 months.
Binance excluded stock tokens from the platform
The crypto exchange said that stock tokens are unavailable for purchasing tokens linked to stocks barely three months after starting them.
Here are the biggest stories in cryptocurrency and blockchain spheres. Take a look at them.
▪️Elon Musk confirms that he owns ETH
He unveiled this at the B Word conference, an event hosted by the Crypto Council for Innovation. As a result, Ether soared up to $2K after this comment.
▪️Blockchain protocol Thorchain suffered another hacker attack
The company told CoinDesk a hacker deployed a custom contract that was able to trick Bifrost into receiving a deposit of fake assets. It led to losses of around $8 million.
The attack is the second in just eight days, the first of which resulted in more than $6 million in losses.
▪️India’s Central Bank Considering Pilot Programs for CBDC
Indian financial authorities believe that CBDC has a chance to reduce the use of cash and protect citizens from the volatility of digital currencies.
▪️Elon Musk confirms that he owns ETH
He unveiled this at the B Word conference, an event hosted by the Crypto Council for Innovation. As a result, Ether soared up to $2K after this comment.
▪️Blockchain protocol Thorchain suffered another hacker attack
The company told CoinDesk a hacker deployed a custom contract that was able to trick Bifrost into receiving a deposit of fake assets. It led to losses of around $8 million.
The attack is the second in just eight days, the first of which resulted in more than $6 million in losses.
▪️India’s Central Bank Considering Pilot Programs for CBDC
Indian financial authorities believe that CBDC has a chance to reduce the use of cash and protect citizens from the volatility of digital currencies.