Monday, November 30, 2020

Crypto News Cast For November 30th 2020 ?


Crypto News Cast 📮 30-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $579 B
📊24h Mcap %:        34.65%
⚠️Bitcoin Dom:        62.60%
📌Active Coins:       4,751
📍24h Vol %:            15.56%
💲24h Vol:                $184 B

Crypto News Updates :

  • UAE, Saudi Arabian Central Banks Working On CBDC Together
  • 82% of Bitcoin Mining Pools Are In Support Of Bitcoin Taproot Activation
  • Dan Morehead: For Billions of People, Bitcoin Has Already Hit New All-Time High
  • Bitcoin Mining Difficulty Increases Over 8% As The Price Nears ATH
  • More Than $500 Million Worth of ETH Staked Against ETH 2.0 Launch
  • Raoul Pal To Invest 98% Of Portfolio Into Cryptocurrency


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- UAE, Saudi Arabian Central Banks Working On CBDC Together

Central banks from two of the most powerful economies in the Middle East, United Arab Emirates and Saudi Arabia released a report today on a yearlong joint central bank digital currency (CBDC) project dubbed Aber and results speak glowingly of blockchain technology. The report notes that the project used a digital currency backed with real money. The report concludes that a dual-issued CBDC was “not only technically viable” for cross border payments, but that CBDCs present significant improvement over centralized payment systems. Read Full on cointelegraph.

- 82% of Bitcoin Mining Pools Are In Support Of Bitcoin Taproot Activation

The majority of the Bitcoin hash rate is in favor of Taproot, the biggest upgrade to the largest cryptocurrency network since SegWit implementation in 2017. This upgrade will expand Bitcoin’s smart contract flexibility while bringing more privacy to the network. As of writing, A total of 82.05% of Bitcoin mining pools including Poolin, F2Pool, Antpool, and BTC.com have announced their support. That number was sitting at around 30% just two weeks ago. Read Full on BitcoinExchangeGuide.

- Dan Morehead: For Billions of People, Bitcoin Has Already Hit New All-Time High

Pantera Capital’s Dan Morehead says the devaluation of currencies around the world has already triggered all-time highs in the price of Bitcoin for billions of people. In Pantera’s November newsletter, Morehead points to Venezuela, Argentina, Turkey, Brazil, Nigeria, South Africa, Russia and India as eight countries where Bitcoin’s value has far outpaced fiat. He said people in these countries already know the importance of bitcoin. Even after its growth in 2020, Morehead says Bitcoin has one of the most favorable upside positions he’s ever seen. Read Full on The Daily Hodl.

- Bitcoin Mining Difficulty Increases Over 8% As The Price Nears ATH

According to Glassnode, on-chain analytics provider, Bitcoin mining difficulty increased over 8% as the price nears all time high. In past bull run years, mining difficulty preceded the bull run and that remains to be seen as Bitcoin nears its all time high. Mining difficulty usually results in high transaction fees and the time frame for generating blocks. Glassnode also recorded that Ethereum had all time high mining difficulty as the price dropped last week. Read Full on cointelegraph.

- More Than $500 Million Worth of ETH Staked Against ETH 2.0 Launch

ETH 2.0 attracts extra deposits as more than $500 million ETH is staked for the launch tomorrow. Justin Drake, Eth2 researcher at the Ethereum Foundation, said that more ETH deposits even after crossing the milestone is a remarkable show of trust. Also, more ETH would be needed in the long term. The deposits are locked until phase 1.5 in 2022. Once the Eth 2.0 migration is complete, the network will move from proof-of-work to proof-of-stake. Read Full on The Block.

- Raoul Pal To Invest 98% Of Portfolio Into Cryptocurrency

Raoul Pal, CEO of finance and business video channel, Real Vision and Former Goldman Sachs Executive (where he co-managed the European hedge fund) revealed that about 98% of his portfolio would be invested in crypto. He believes that Cryptocurrency is beyond store of value but its definitely the future of money, the complete secure financial system. He also mentioned that he might sell off his gold to invest in Bitcoin and Ethereum. Read Full on cryptoglobe.

Sunday, November 29, 2020

Crypto News Cast For November 29th 2020 ?


Crypto News Cast 📮 29-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $541 B
📊24h Mcap %:        15.38%
⚠️Bitcoin Dom:        62.20%
📌Active Coins:       4,740
📍24h Vol %:            9.67%
💲24h Vol:                $165 B

Crypto News Updates :

  • Germany’s Finance Minister Requests To Accelerate Development of Digital Euro
  • Brad Garlinghouse: Ripple Would Still Thrive Even If XRP Is Declared A Security
  • Guggenheim With $5 Billion Macro Fund Prepares To Invest in Bitcoin
  • Weiss Ratings Believes Post-Covid Crypto Will Be The Only Viable Safe Haven Asset
  • Glassnode: Number of 10,000+ ETH Holding Addresses Hits New High
  • Morgan Creek CEO Says Bitcoin Hodlers Believes In Its Real Value Not Price
  • Bitcoin Breaks Past $18,000 Again As Rally Continues


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- Germany’s Finance Minister Requests To Accelerate Development of Digital Euro

As the race for releasing a CBDC heats on, Germany’s Federal Minister of Finance, Olaf Scholz, has urged the European Union (EU) to speed up plans on a proposed digital Euro. Speaking during an online conference on the future of payments in the region, Scholz remarked that most businesses and consumers were beginning to demand digital money. The Finance Minister emphasized, saying, "On the digital euro, I think we should work very hard. It is nothing where we should wait and see." Read Full on CryptoPotato.

- Brad Garlinghouse: Ripple Would Still Thrive Even If XRP Is Declared A Security

Ripple CEO Brad Garlinghouse believes his company can still thrive under a hypothetical scenario where XRP is declared a security by United States lawmakers. Garlinghouse talked about the implications of XRP being declared a security by the U.S. Securities and Exchange Commission, or SEC. Garlinghouse added that “more than 90% of RippleNet customers are out of the United States,” suggesting that a securities designation wouldn’t necessarily hinder the company’s underlying business. Read Full on cointelegraph.

- Guggenheim With $5 Billion Macro Fund Prepares To Invest in Bitcoin

Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its $5 billion Macro Opportunities Fund gain exposure to bitcoin by investing up to 10% of the fund’s net asset value in the Grayscale Bitcoin Trust (GBTC), a privately offered investment vehicle that invests in bitcoin. Given the fund has net assets of $4.97 billion, according to Fidelity, it means mean the fund can invest up to $497 million in GBTC. Read Full on coindesk.

- Weiss Ratings Believes Post-Covid Crypto Will Be The Only Viable Safe Haven Asset

Weiss analysts Juan Villaverde and Bruce Ng assess market reactions after pharmaceutical giants Pfizer and Moderna announced they have working vaccines against Covid-19. Weiss notes that investors are pricing in the possibility of a viable vaccine as they begin to rework their portfolios and ignore safe-haven that pumped during the pandemic. As gold and bonds fell victim to the market reshuffle, Bitcoin was able to maintain its value and even flourished. Weiss asserted that post-Covid world, cryptocurrencies may be the only safe-haven assets. Read Full on The Daily Hodl.

- Glassnode: Number of 10,000+ ETH Holding Addresses Hits New High

According to the data shared by the analytics provider Glassnode, more users are entering the Ethereum (ETH) market. The number of Ethereum wallets with more than 10,000 coins just reached a 3-month high of 1,062. Apart from that, the amount of non-zero ETH wallets has surpassed 50 million. Ethereum mean hashrate has also reached an all-time high of 270,629,263,696,999.625. Rising hashrate signifies growth of the mining network and shows that it is strong and healthy. Read Full on U.Today

- Morgan Creek CEO Says Bitcoin Hodlers Believes In Its Real Value Not Price

CEO of Morgan Creek Capital Management Mark Yusko commented on the recent wave of negative headlines concerning Bitcoin.Yusko said financial institutions are justifiably concerned about Bitcoin’s disruptive impact and will use whatever means they have to slow its adoption. However, he believes that investors with a longer time horizon are more likely to succeed as Bitcoin’s fundamental narrative strengthens. He said, Investors are long-term holders focused on Value & Speculators are short-term holders focused on Price. Read Full on cointelegraph.

- Bitcoin Breaks Past $18,000 Again As Rally Continues

Bitcoin’s (BTC) price today has hit $18,000 again, an increase of 5% over the past 24 hours. Overall, the weekly price has increased by 0.74%, ending the week at a slightly better place than it started. Bitcoin's 24-hour trading volume today hit $36.218 billion, up by 8.1% from yesterday's $33.390 billion. The global crypto market cap has also reached $537 billion, an increase of 5% over the past 24 hours. Bitcoin now accounts for $335 billion of the global market cap, or 62%. Read Full on Decrypt

Friday, November 27, 2020

Crypto News Cast For November 27th 2020 ?


Crypto News Cast 📮 27-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $492 B
📊24h Mcap %:       -13.00%
⚠️Bitcoin Dom:        62.30%
📌Active Coins:       4,729
📍24h Vol %:           -83.58%
💲24h Vol:                $209 B

Crypto News Updates :

  • Mike Novogratz Urges Investors To Have Bitcoin and Ethereum
  • Colombian Stock Exchange To Promote OTC Markets Using Blockchain
  • Ripple CEO Points Bullish Attitude Of Institutional Investors Towards Crypto
  • Russia To Recognize Crypto As Property
  • China’s National Blockchain Project Adds Support For Polkadot
  • Record $7.4B Bitcoin Futures Open Interest Shows Pros Are Still Bullish
  • Cypherpunk Holdings Becomes 9th Largest Public Holder Of Bitcoin
  • Facebook's Libra Could Launch Its Stablecoin In January
  • Tether Market Cap Spiked To $19 Billion


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- Mike Novogratz Urges Investors To Have Bitcoin and Ethereum

Mike Novogratz; Founder and CEO of Galaxy Digital, Former hedge fund manager and Billionaire investor urges investors to have some percentage of Bitcoin and Ethereum in their portfolio. He sees Bitcoin as a hedge against devaluation of fiat. He also said that this Bitcoin rally is different from 2017 because there are more institutional investors now than then. He sees cryptocurrency as the future of Payments where everyone can participate. Read Full on CryptoGlobe.

- Colombian Stock Exchange To Promote OTC Markets Using Blockchain

Colombian Stock Exchange joins hands with Consorcio Colibrí, a private initiative and member firm Contrato Marco to promote and improve over-the-counter derivatives market using Blockchain technology. This will increase the adoption of blockchain technology within the finance industry. Juan Manuel López, executive director of the Contrato Marco said that this agreement will open doors to financial advancement in the future. Read Full on cointelegraph.

- Ripple CEO Points Bullish Attitude Of Institutional Investors Towards Crypto

Brad Garlinghouse, Ripple CEO emphasized the massive increase in institutional investors towards Bitcoin and crypto assets. He indicated that Bitcoin is a hedge against inflation and a great store of value. In a series of Tweets, Ripple CEO attributes this increased interest from investors to improvements in real world use case of digital assets. He promoted XRP as a more preferable option for payments. Tech executives are also bullish towards cryptocurrency. Read Full on twitter.

- Russia To Recognize Crypto As Property

Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market. At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for crypto holders in the country in order to contribute to the growth of the new industry. As part of the plan, Mishustin proposed amending the Russian Tax Code to recognize cryptocurrencies like Bitcoin (BTC) as property. Read Full on cointelegraph.

- China’s National Blockchain Project Adds Support For Polkadot

Chinese government-backed blockchain initiative, the Blockchain Service Network, or BSN, is introducing support for another batch of major blockchain protocols. It announced that it will integrate Polkadot, Oasis and Bityaun into its ecosystem on Nov. 30. Polkadot's blockchain protocol is designed to connect multiple specialized blockchains into one unified network. Polkadot also enables processing of numerous transactions on several chains in parallel, bringing another level to its network capacity. Read Full on cointelegraph.

- Record $7.4B Bitcoin Futures Open Interest Shows Pros Are Still Bullish

Though Bitcoin price failed to blast through the $20,000 level this week but multiple records related to volume and open interest were made recently. One notable achievement was the open interest on aggregated futures contracts reached $7.4 billion at derivatives exchanges. There has been a 110% increase over the past 6 months, and it is also worth noting that the Chicago Mercantile Exchange (CME) now holds over $1.1 billion of these contracts. This data is indisputable evidence of the growing institutional participation in BTC markets. Read Full on cointelegraph.

- Cypherpunk Holdings Becomes 9th Largest Public Holder Of Bitcoin

Cypherpunk Holdings a privacy-focused Canadian investment company, has upped its stake in Bitcoin (BTC). The company disclosed Thursday that it has added 72.979 BTC to its reserves since June 30, 2020. With the purchase, Cypherpunk now has 276.479 BTC in its reserves, making it the ninth-largest public Bitcoin holder. Toronto-based Cypherpunk Holdings is the owner of privacy-focused Wasabi Wallet and Samourai Wallet. Read Full on U.Today

- Facebook's Libra Could Launch Its Stablecoin In January

The Facebook-led Libra Association is reportedly targeting the launch of its first stablecoin in January of next year. The Financial Times reported the news on Thursday, citing "three people involved in the initiative." According to one of the persons, the first stablecoin would be dollar-backed, while other planned single-currency and multi-currency stablecoins would be launched later. The actual launch date of the dollar-pegged stablecoin would depend on when Libra gets a payment services license from the Swiss Financial Market Supervisory Authority, FINMA. Read Full on The Block.

- Tether Market Cap Spiked To $19 Billion

Tether, a US dollar-backed stablecoin, has reached a total of $19 billion in market cap. Since August 31, 2020, Tether’s market cap has enlarged by about 90% from $10 billion to current all-time highs of approximately $19 billion. During this month, its market cap increased from approximately $16.5 billion, meaning it rose by 15% in November. Tether's continued growth ensures that it remains the leading stablecoin by market cap. Read Full on Decrypt.

Tuesday, November 24, 2020

The Wall Street Journal captures Bitcoin in its front page

The Wall Street Journal captures Bitcoin in its front page
The Wall Street Journal captures Bitcoin in its front page

It’s no longer news that the mainstream financial sector is gradually warming up to Bitcoin and cryptocurrencies. Blockchain, the technology behind Bitcoin, has also proven to be a catalyst for technological innovations in different sectors. And Bitcoin has continued to conquer and surpass several benchmarks set for the top cryptocurrency.

Yesterday, it was the turn of the mainstream media to talk about Bitcoin’s 80% rally, as the crypto coin reclaimed five-figure prices.

Bitcoin has captured the attention of the media from the top end to down, with the Wall Street Journal (WSJ) discussing its adoption among top institutional investors. And the fact that it captured the discussion on its front page speaks volumes about the growing popularity of Bitcoin in the mainstream.

Bitcoin finds support among Wall Street billionaires

The media is a powerful voice, as anything made the center of the discussion is most likely to go viral. The 80% increase of Bitcoin’s price is the highest it has been for several months, and many pundits are predicting the crypto coin could surpass its previous record high of $20,000 per BTC.

The WSJ report is of particular interest because it noted that Bitcoin is gradually being adopted by “Wall Street billionaires” Stanley Druckenmiller and Tudor Jones, as well as other public figures. Last week, a U.S. senator-elect, who is a Bitcoin owner, vowed to push for the further adoption of Bitcoin and cryptocurrencies.

The report of the media giant is coming after a lull in Bitcoin’s presence in the mainstream, as the cryptocurrency sets new records in the market.

Additionally, Grayscale investments and hedge fund managers have made significant investments in the top cryptocurrency, which WSJ has emphasized. Also, there is now an increased investment from retail investors, who can access cryptocurrencies via familiar financial service companies.

According to the report, last year Bitcoin’s volumes on Square Cash App were $555 million. But for the third quarter of this year alone, the cryptocurrency has risen to $1.6 billion. And Paypal’s acceptance of Bitcoin payments on its platform has increased the trade activity on ItBit and other exchanges.

Paypal’s Chief Executive Officer Dan Shulman also predicted that cryptocurrency will soon “move from being less of just an asset class and more into a currency,” based on the current adoption levels.

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Monday, November 23, 2020

Bitcoin (BTC) price may pull back to $16,600 before continuing higher

Bitcoin (BTC) price may pull back to $16,600 before continuing higher
Dutch Police busts $30 million worth of Bitcoin from perpetrators

Bitcoin (BTC) price is trading around 0.4% lower today as the buyers show signs of exhaustion near the record highs. 

Fundamental analysis: Weak supply

A weaker Bitcoin supply might be one of the key drivers behind Bitcoin’s recent rally. Some analysts believe that China’s miners may be selling Bitcoins amid regulatory crackdown on local exchanges.

“The lack of supply has fed extremely well to the trendiness of this rally, without any of the large sell-downs typical of miner activity in the past,” crypto-asset trading firm QCP Capital from Singapore said

On the other hand, some of the most prominent Bitcoin buyers and investors are hoping that the most recent rally is just a beginning. Mike Novogratz, a prominent Bitcoin investor and the CEO of a cryptocurrency investment firm Galaxy Investment Partners will rise in the future as it is seen as a store of value.

“You can’t buy bitcoin at Citibank or Bank of America, but their strategists are talking about it,” Novogratz said. “We’re seeing institutions buy into this, we’re seeing high net worth families buy into this, across the board you’re getting institutional adoption.”

According to him, the current rally is more sustainable as it is driven by institutional investors who could eventually push the price of the world’s largest digital asset to $60,000 in a year’s time. 

Novogratz adds  that Bitcoin has “hit escape velocity,” as safe-haven investors see it as a store of value. Moreover, Bitcoin is benefiting from massive stimulus plans deployed around the globe that are diminishing the value of traditional currencies. 

Technical analysis: A pullback likely

Bitcoin price recorded the best week in seven months after closing 15.40% higher. This also marks the seventh consecutive close higher on a weekly basis that has seen the world’s largest cryptocurrency nearly double its value in just over 2 months. 

Bitcoin (BTC) price daily chart (TradingView)

The buyers stopped near $19,000 as the price action now consolidated between $18,000 and $19,000. A pullback from these levels is now likely with BTC bulls hoping for a correction towards $16,600 – $17,200 to get on the long side for a potential trip to record highs. 

Summary

Some analysts believe that weaker Bitcoin supply is one of the main factors behind the recent price rally. On the other hand, a Bitcoin bull Michael Novogratz says that BTC could hit $60,000 by the end of 2021.

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Crypto News Cast For November 23rd 2020 ?


Crypto News Cast 📮 23-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $543 B
📊24h Mcap %:        13.49%
⚠️Bitcoin Dom:        62.30%
📌Active Coins:       4,681
📍24h Vol %:            0.59%
💲24h Vol:                $219 B

Crypto News Updates :

  • China's Xi Asks G20 Countries To Support CBDCs
  • Swiss Financial Institutions Bet on ETH2, BCH and USDC
  • Ethereum Hits $600 Highest Value Since 2018
  • Over 50% Of Total ETH Required To Launch ETH 2.0 Mainnet Already Staked
  • Ripple Will Make XRP Ledger Integral Part of CBDCs
  • John Lennon's Son Says Bitcoin ‘Empowers’ People
  • Van Eck: Bitcoin Is Less Volatile Than Stocks
  • Mark Yusko: Bitcoin Doing 'Extremely Well' Due to FED's Dollar Devaluation


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- China's Xi Asks G20 Countries To Support CBDCs

China’s President Xi Jinping told G20 meeting attendees this week that the group of the world’s largest developed economies should be open to central bank digital currencies (CBDCs) when developing standards for them. In a wide-ranging speech that addressed the future of the global economy in the wake of the COVID-19 pandemic, Xi said that the G20 needs to discuss developing standards and principles for central bank digital currencies with an open and accommodating attitude. Read Full on CoinDesk.

- Swiss Financial Institutions Bet on ETH2, BCH and USDC

Swiss financial entities focused on cryptocurrencies are engaging clients with new opportunities. Swiss bank SEBA announced on Nov 19 that it now accepts Bitcoin Cash and stablecoin USDC. The FINMA-registered Swiss bank stated that customers may now use the coins for services. This includes trading, digital custody, earning interest (USDC), and fiat lending against BCH. SEBA is headquartered at Zug in Switzerland’s Crypto Valley. Also, Zug-based Bitcoin Suisse announced on Nov 20 that the company’s clients had staked over 71,891 ETH in their ETH2 staking. Read Full on BeInCrypto.

- Ethereum Hits $600 Highest Value Since 2018

The second biggest cryptocurrency Ethereum has just reached $600 - on its way to recovering the 2018 all-time of high (ATH) of $1,300. In the last 24 hours, its price has increased by 14%. Over the past seven days, Ethereum has cranked 26% from around $460 this time last Monday. Since the beginning of the year, ETH has surged 350% outperforming its big brother Bitcoin which has only made around 150% by comparison. Ethereum’s market cap has also increased. At the time of writing, Ethereum’s market cap is at $67 billion, up 28% in the last month, and 34% in the last three months. Read Full on Decrypt.

- Over 50% Of Total ETH Required To Launch ETH 2.0 Mainnet Already Staked

The deposit contract address for Ethereum 2.0 has reached 50 percent of its target, marking a significant milestone for the much-awaited upgrade of the second-largest blockchain. At the time of writing, its total balance stands at 292,480 ETH ($170 mln at the time of writing), Etherscan data shows. The deposit contract will have to hit the 524,288 ETH threshold required to launch the Beacon Chain mainnet. The aforementioned sum has to be reached seven days before Dec. 1 to avoid another delay. Read Full on twitter.

- Ripple Will Make XRP Ledger Integral Part of CBDCs

Ripple is pushing to bring the XRP Ledger to the world of central bank digital currencies (CBDCs). The San Francisco startup is looking to hire a senior director of central bank engagements, according to a new job listing. The new hire will focus on developing strategies to integrate Ripple’s products with the nascent CBDC market and pitch various ways in which banks can utilize the XRP ledger. Ripple says it wants to partner with CBDC projects and manage a “target list and pipeline of banks and projects and driving the deal process from start to finish.” Read Full on The Daily Hodl.

- John Lennon's Son Says Bitcoin ‘Empowers’ People

The son of Beatles legend John Lennon has praised bitcoin for its ability to help individuals transcend politics and world events. Sean Ono Lennon, speaking on the Orange Pill Podcast on Sunday, said bitcoin empowers people in a way they’ve never been empowered before. He noted that, the world’s first crypto is one of the only things that gives him more optimism about the future and humanity in general amid the tribulations of 2020. Read Full on twitter.

- Van Eck: Bitcoin Is Less Volatile Than Stocks

Van Eck's latest research appears to be an effort towards calming investor fears about Bitcoin as well as the SEC's. Investment management firm Van Eck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks listed on the S&P 500. German issuer of exchange-traded products said, on a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price fluctuations than the digital currency, while 22% did the same on a 90-day basis, said Van Eck. Read Full on cointelegraph.

- Mark Yusko: Bitcoin Doing 'Extremely Well' Due to FED's Dollar Devaluation

According to Mark Yusko, founder and CEO of investment firm Morgan Creek Capital Management, the U.S. FED and the rise of “zombie companies” is prompting investors scramble to hedge against inflation using bitcoin and gold. Yusko took aim at zombie companies, those that need bailouts at times of financial stress to stay in operation, calling them a “Ponzi finance scheme” and saying their inability to repay debt, left the “only choice” for the Federal Reserve is to devalue the currency. As a result, bitcoin and gold have been doing “extremely well,” according to Yusko. Read Full on CoinDesk.

PayPal purchased 70% of all newly-mined BTC over the past month

PayPal purchased 70% of all newly-mined BTC over the past month
Paypal bitcoin

Payments giant PayPal bought up to 70% of all newly-mined BTC over the past month since it started offering crypto services on October 21 this year. Pantera Capital, a hedge fund manager, unveiled this news in its most-recent monthly blockchain letter, adding that combined with Square’s Cash App, the two firms are purchasing more than 100% of all newly-issued BTC.

According to the letter, the demand for PayPal’s crypto service, which runs on itBit, Paxos’ fiat-to-crypto exchange, has surged significantly. Reportedly, the fiat-to-crypto exchange was initially recording a relatively constant amount of trading volume. However, when PayPal announced that it would let its eligible US account holder purchase, hold, and sell crypto through itBit, the exchange’s trading volume started expanding rapidly.

Pantera Capital went on to note,

“When PayPal went live, volume started exploding. The increase in itBit volume implies that within four weeks of going live, PayPal is already buying almost 70% of the new supply of bitcoins.”

Institutions are fueling BTC’s current rally

Per Pantera Capital, PayPal’s decision to dip its toes in the crypto sector is already showing a huge impact. The hedge fund manager believes that if the firm’s demand for BTC persists, it might soon be purchasing more than all of the newly-issued BTC within a few weeks.

Pantera Capital went on to note that BTC’s current rally is more sustainable compared to the one in 2017. This is because, since 2017, a plethora of institutions, including PayPal, Cash App, and RobinHood, have joined the crypto sector, making it easy to purchase BTC. According to Pantera Capital, there was a lot of friction when it came to purchasing BTC, seeing as the process involved capturing a selfie with a passport and then waiting for days for activation.

However, the onboarding of players such as PayPal has simplified this process for millions of users across the globe.

Commenting on this bullish development, Pantera Capital said,

“Three hundred million people just got instant access to Bitcoin, Ethereum, and other cryptocurrencies.”

This news comes as Bitcoin’s (BTC) price continues making moonshots. At the time of writing, the coin is trading at £13,839.5, according to data from CoinMarketCap. This figure denotes a 0.2% gain over the past 24 hours and a 13.66% rise over the past seven days. BTC remains dominant regarding market capitalization with a market cap of £256,429,793,526.6 and a trading volume of £32,531,657,505 over the past 24 hours.

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Sunday, November 22, 2020

Crypto News Cast For November 22nd 2020 ?


Crypto News Cast 📮 22-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $526 B
📊24h Mcap %:       -4.84%
⚠️Bitcoin Dom:        64.20%
📌Active Coins:       4,668
📍24h Vol %:            38.69%
💲24h Vol:                $218 B

Crypto News Updates :

  • Coinbase Has Seen A $14B Increase In Institutional Assets Since April
  • Stablecoins On Stellar Network Launched In Brazil And Argentina
  • South Africa Would Consider Crypto As Financial Products
  • Whales Shift $535 Million Worth of Ethereum As Price Moves Above $500
  • Pantera Raises Additional $5M for Its Bitcoin Fund
  • US Treasury Office Wants To Stop Discrimination Against Crypto Firms
  • Based On Market Cap Bitcoin Becomes World’s Biggest Bank
  • XRP Soars 31% To $0.41 Highest Price Since Last July


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- Coinbase Has Seen A $14B Increase In Institutional Assets Since April

Coinbase is witnessing fresh capital coming into crypto in billions mostly allocated to bitcoin. Coinbase has seen a $14 billion increase in institutional assets under custody since April, its head of institutional coverage at Coinbase Brett Tejpaul said in a YouTube interview published on Friday. Brett told that institutional assets under custody were $6 billion when he joined the firm in April and have grown to $20 billion today. Tejpaul credited this growth in part to Coinbase’s acquisition of Tagomi in May. Read Full on youtube.

- Stablecoins On Stellar Network Launched In Brazil And Argentina

Settle Network, is the largest digital assets settlement network across Latin America for exchange and cross-border payment and Stellar is a decentralized network that has focused on financial products and services, are issuing two new stablecoins on in Argentina (ARST) and the other in Brazil (BRLT). The ARST corresponds to the Argentine peso, while the BRLT corresponds to the Brazilian real. The stablecoins should make remittances between the two economies easier. Both are said to involve bank grade KYC verification, AML controls and blockchain monitoring. Read Full on Decrypt.

- South Africa Would Consider Crypto As Financial Products

Cryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator. The Declaration would have the effect that any person furnishing advice or rendering intermediary services in relation to crypto assets must be authorised under the FAIS Act as a financial services provider, and must comply with the requirements of the FAIS Act, wrote the Financial Sector Conduct Authority (FSCA), which is seeking comment on the proposal. Read Full on CoinDesk.

- Whales Shift $535 Million Worth of Ethereum As Price Moves Above $500

While ETH has soared to the $515 level and keeps going higher. Large blockchain tracking service Whale Alert reports, Crypto whales have pushed one million ETH between their wallets. According to the data shared by Whale Alert, over the past eight hours, a jaw-dropping amount of consecutive ETH transactions that carried slightly over 1 mln ETH ($535 mln in fiat). The transactions were made between anonymous wallets, carrying lumps of 60 mln to 70 mln ETH each. Read Full on U.Today

- Pantera Raises Additional $5M for Its Bitcoin Fund

Cryptocurrency firm Pantera Capital has raised another $5 million for its bitcoin fund, bringing the total to $134 million, according to a form D filing with the U.S. Securities and Exchange Commission. Formed in 2013, the Pantera Bitcoin Fund Ltd. was the first U.S.-based bitcoin fund. In an investor letter at the end of 2017, Pantera boasted a 25,004% return on the fund, mainly due to the bitcoin bull run of that year. Read Full on CoinDesk.

- US Treasury Office Wants To Stop Discrimination Against Crypto Firms

The Office of the Comptroller of the Currency (OCC), a US Treasury office led by former Coinbase executive Brian Brooks, proposed regulatory changes that would give cryptocurrency businesses more access to banking services. The proposed rule change would limit national banks’ ability to deny financial services services to money services businesses such as cryptocurrency firms—or any other category of business—unless they fail to meet certain quantitative, risk-based criteria. Read Full on Decrypt.

- Based On Market Cap Bitcoin Becomes World’s Biggest Bank

Bitcoin has become the largest bank in the world for the first time, overtaking JP Morgan in market cap after it rose above $18,900. That gave bitcoin a market cap of $350 billion, an all time high, beating JP Morgan’s $349 billion. Some 155 banks are listed, worth a combined nearly $4 trillion, including Citigroup at $107 billion, while Goldman Sachs is at $76 billion. Bitcoin has now risen to perform some banking services, including lending and borrowing in defi as well as custodying assets while processing payments and facilitating financial services like international trade. Read Full on Trustnodes.

- XRP Soars 31% To $0.41 Highest Price Since Last July

XRP, the fourth largest crypto with a market cap of $16.68 billion, today hit $0.41, its highest price since last July. That's up from $0.286 a day ago, a jump of 31.53%. Overall, the global crypto market cap increased by 3% to $529.5 billion. As the XRP rate is rising, so is its market cap, the coin is targeting the top three place lost to Tether’s USDT a few times this year. On Friday, the difference between the market caps of XRP and the most popular USD-backed stablecoin totalled around four billion USD. Now, this difference is approximately $2 billion. Read Full on Decrypt.

Friday, November 20, 2020

Crypto News Cast For November 20th 2020 ?

Crypto News Cast For November 20th 2020 ?

Crypto News Cast 📮 20-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $525 B
📊24h Mcap %:        18.50%
⚠️Bitcoin Dom:        66.30%
📌Active Coins:       4,659
📍24h Vol %:            3.20%
💲24h Vol:                $143 B

Crypto News Updates :

  • Bitcoin’s Taproot Upgrade Support Surges By 45%
  • SEC Chair: Inefficiencies In Traditional Payment System Boosting Bitcoin
  • China's State TV CCTV Shills Bitcoin To Millions
  • OCC Chief Brian Brooks Says Launch of Crypto Banks Is Imminent
  • Goldman Expects Digital Yuan Will Reach 1 Billion Users in 10 Years
  • First Employer-Sponsored Bitcoin Retirement Plans Launched In US
  • Ethereum Breaks $500 for First Time Since 2018
  • OKEx Crypto Exchange To Reopen Bitcoin Withdrawals


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- Bitcoin’s Taproot Upgrade Support Surges By 45%

Bitcoin miners are signaling that they support the Taproot upgrade, which aims to boost privacy and efficiency. F2Pool, the largest Bitcoin mining pool has been listed on the “Taproot-Activation” website, signaling its support for Bitcoin’s protocol upgrade proposal Taproot. With the addition of F2Pool, Taproot, which aims to improve the network’s privacy and efficiency, has now gained the combined support of miners responsible for 45% of Bitcoin’s hash power. This means it is just 6% away from reaching a majority. Read Full on Decrypt.

- SEC Chair: Inefficiencies In Traditional Payment System Boosting Bitcoin

SEC Chairman Jay Clayton reiterated that he does not believe Bitcoin is a security, but suggested that more regulation could still be on the way from other federal agencies. Clayton told that Bitcoin more resembles a store of value and a payment mechanism than it does a security, and that “inefficiencies” in current traditional payment mechanisms, both domestically and internationally, are boosting Bitcoin’s growth. But he also warned that as Bitcoin becomes more popular, it could become further regulated as a payment method. Read Full on twitter.

- China's State TV CCTV Shills Bitcoin To Millions

As noted by prominent Chinese crypto analyst “cnLedger,” yesterday, CCTV, the official Chinese Communist Party television channel, did a segment on Bitcoin due to the rally. According to him, the state channel covered Bitcoin’s price being up 70 percent in fifty days, along with the strength in the fundamentals of the cryptocurrency. It mentioned that bitcoin’s network, development and investment eco-system are now far better than 2017 bull market and added the recent rise is driven by institutional funds. Read Full on twitter.

- OCC Chief Brian Brooks Says Launch of Crypto Banks Is Imminent

Comptroller of the Currency Brian Brooks says the advent of crypto banks is just around the corner. In an interview with Forbes, the head of the Office of the Comptroller of the Currency (OCC) reveals that there are a few crypto firms beelining for the Trust Charter with the OCC in order to provide crypto banking services. Brooks stresses the need to balance banks’ ability to service their clients’ digital asset needs and to maintain current levels of government regulation and oversight. This balance, Brooks believes, will imminently involve crypto banks. Read Full on forbes.

- Goldman Expects Digital Yuan Will Reach 1 Billion Users in 10 Years

According to Goldman Sachs, The digital yuan, China’s planned national virtual currency, would account for 15% of total consumption payments in ten years, helping commercial banks gain more ground from fintech companies. "In ten years we expect DC/EP to reach 1 billion addressable users, 1.6 trillion rmb ($229 billion) in issuance, 19 trillion rmb ($2.7 trillion) in annual Total Payment Value (TPV) and account for 15% of total consumption payments,” the report said. Read Full on CoinDesk.

- First Employer-Sponsored Bitcoin Retirement Plans Launched In US

U.S.-based asset manager, Digital Asset Investment Management (DAiM), has launched the country’s first employer-sponsored 401(k) retirement plans that offers several recommended model portfolios of varying risk to traditional assets and allocation of up to 10% to Bitcoin. The BTC will be held in cold storage by Gemini Trust, allowing DAiM to transfer Bitcoin to former-employees who have left participating companies. DAiM’s crypto-friendly plans are compliant with the Employee Retirement Income Security Act of 1974, and will be able to be offered by employers from 2021. Read Full on cointelegraph.

- Ethereum Breaks $500 for First Time Since 2018

Ethereum has been the talk of the town in recent months as the crypto community anticipates the release of Ethereum 2.0. But while we wait for this upgrade, Ethereum's price has kept rising. The price of Ethereum has risen above the $500 barrier for the first time since 2018. The last time the cryptocurrency was above $500 was July 2018. This recent price increase adds to solid growth over the year with Ethereum's price having risen from $130 to $500 a 284% gain on the year so far. Read Full on Decrypt.

- OKEx Crypto Exchange To Reopen Bitcoin Withdrawals

Crypto exchange OKEx has announced it will resume withdrawals from November 27, 2020, following a temporary suspension that began on October 16. The temporary absence of withdrawals was a major talking point for the Chinese crypto community, but now, the major exchange is set to resume normal business practices. As OKEx reopens for withdrawals, the exchange is also hoping to apologize for the inconvenience caused through user loyalty reward campaigns to express deep apologies and most sincere gratitude to our community. Read Full on Decrypt.

Thursday, November 19, 2020

Crypto News Cast For November 19th 2020 ?


Crypto News Cast 📮 19-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $503 B
📊24h Mcap %:        2.10%
⚠️Bitcoin Dom:        66.20%
📌Active Coins:       4,654 
📍24h Vol %:           -47.00%
💲24h Vol:                $137 B

Crypto News Updates :

  • American Rap Icon Lil Yachty Creating His Own Cryptocurrency
  • 73% Of Millionaires Invested Or Plans To Invest In Crypto
  • Vietnam’s Ministry Of Education Adopts Blockchain
  • CME Bitcoin Futures Hits An All-Time High Open Interest Of $1 Billion
  • Dubai Investment Firm Will Stake $10 M Worth Of ETH To Support ETH 2.0 Launch
  • Newly Created Bitcoin addresses Reached Almost 25,000 In An Hour
  • Deutsche Bank: Investors Prefer Bitcoin Over Gold As Inflation Hedge
  • Bitcoin Mining Revenue Hits Yearly High
  • Zcash Undergoes Its First Halving With A Major Upgrade
  • Mexico’s Second Richest Man Holds 10% Of His Liquid Assets In Bitcoin


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- American Rap Icon Lil Yachty Creating His Own Cryptocurrency

One of the biggest rap artists in the world Lil Yachty will be tokenizing himself with his own cryptocurrency. The rap superstar is releasing the token via the social platform Fyooz that leverages tokenization to give fans access to artists and influencers. The platform enables celebrities to create their own cryptocurrencies, which their fans can then purchase to engage and gain access to their favorite stars. Ownership of a token can effectively give fans a stake in an artist’s career, as well as privileges that they wouldn’t otherwise receive. Read Full on twitter.

- 73% Of Millionaires Invested Or Plans To Invest In Crypto

The survey, carried out by deVere Group, one of the world’s largest independent financial advisory organisations, finds that 73% of poll participants are now already invested in or will make investments in digital currencies, such as Bitcoin, Ethereum and XRP, before the end of 2022. The 700-plus respondents are clients who currently reside in North America, the UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America. ‘High net worth’ is classified in this context as having a more than £1m (or equivalent) in investable assets. Read Full on Finbold.

- Vietnam’s Ministry Of Education Adopts Blockchain

Vietnam’s Ministry of Education and Training (MOET) has entered into an exclusive agreement with Singapore-based smart contract platform TomoChain to archive student records on a blockchain, TomoChain announced Wednesday. According to the announcement, the National Qualifications Archive program will upload all certifications achieved by Vietnam’s high school and higher education students to the TomoChain public blockchain to create a transparent and immutable record. Read Full on CoinDesk.

- CME Bitcoin Futures Hits An All-Time High Open Interest Of $1 Billion

CME Group's cash-settled bitcoin futures have hit an all-time high open interest of $1 billion. The milestone comes as bitcoin price continues to surge at around $18,000 levels. The spike in the open interest, or the value of outstanding derivative contracts that are yet to be settled, suggests that more money is flowing in the market, and traders expect a near-term rise in bitcoin's volatility. CME launched its bitcoin futures in December 2017, and it is currently the only regulated cash-settled offering in the U.S. Read Full on The Block.

- Dubai Investment Firm Will Stake $10 M Worth Of ETH To Support ETH 2.0 Launch

IBC Group, a Dubai-based boutique investment firm, is staking $10 million worth of ether (ETH) to support the Ethereum 2.0 launch. The firm has partnered with Canada-based staking service CanETH for the initiative. Specifically, IBC will stake a total of 21,984 ETH, in three tranches, for 687 validators. Eth2 is expected to go live on December 1, with the launch of Beacon Chain, when at least 524,288 ETH is staked in the Eth2 staking deposit contract. Read Full on The Block.

- Newly Created Bitcoin addresses Reached Almost 25,000 In An Hour

Nearly 25,000 new Bitcoin (BTC) addresses were created today in just one hour—a level that was last seen in 2018. According to Glassnode’s data, the 24-hour moving average of new Bitcoin addresses hit 24,807. The last time a comparable number of newly created wallets appeared on the network within the same time frame was in mid-January 2018. This was just after Bitcoin reached its all-time high of $20,000 the previous month. Read Full on Decrypt.

- Deutsche Bank: Investors Prefer Bitcoin Over Gold As Inflation Hedge

Bitcoin’s appeal as an alternative store of value asset is strengthening, according to analysts at Germany-based investment bank Deutsche Bank. “There seems to be an increasing demand to use bitcoin where gold used to be used to hedge dollar risk, inflation, and other things,” Jim Reid, managing director, head of global fundamental credit strategy, said. While bitcoin has gained 144% this year, gold is up 22%. Both assets seem to have benefitted from the inflation-boosting monetary and fiscal policies launched by central banks and governments across the globe. Read Full on CoinDesk.

- Bitcoin Mining Revenue Hits Yearly High

Bitcoin mining revenue has topped $20 million per day, its highest level this year. Data from analytics provider, Glassnode, suggests that revenue from Bitcoin mining is now back at pre-halving levels when block rewards were double what they are now. The daily revenue figure, which includes block rewards and transaction fees, for Nov. 18 was $21.2 million, its highest for a year. The previous peak was on May 6 when it reached $20.6 million. Following the halving event, which dropped block rewards from 12.5 BTC to 6.25 BTC, revenue plummeted to just over $7 million per day. Read Full on Twitter.

- Zcash Undergoes Its First Halving With A Major Upgrade

Privacy-centric blockchain network Zcash has completed its first miner rewards halving as it rolls out the major Canopy upgrade. Four years after forking from Bitcoin, privacy-centric blockchain network Zcash has completed its first halving at 12:37 UTC, Zcash passed block height 1,046,400 to trigger the event that cuts miners’ rewards from 6.25 ZEC to 3.125 ZEC. Its Canopy upgrade will end its unpopular Founder’s Reward and will mark the beginning of its new development fund. Read Full on CoinDesk.

- Mexico’s Second Richest Man Holds 10% Of His Liquid Assets In Bitcoin

Ricardo Salinas Pliego, the second-wealthiest man in Mexico and also 166th wealthiest person in the world, has revealed that 10% of his “liquid portfolio” is invested in Bitcoin. The billionaire shared a video captured in “a Latin country” depicting banks throwing out garbage bags filled with paper money into a dumpster. He asserted that paper money is worth nothing, that’s why it is always good to diversify their investment portfolio.” The video posted appears to show bags of Venezuelan bolivars being thrown out, including 10,000 bolivar notes issued in 2016 and 2017. Read Full on cointelegraph.

Wednesday, November 18, 2020

Crypto News Cast For November 18th 2020 ?


Crypto News Cast 📮 18-11-2020

Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap:          $499 B
📊24h Mcap %:        9.68%
⚠️Bitcoin Dom:        66.40%
📌Active Coins:       4,638 
📍24h Vol %:           -0.89%
💲24h Vol:                $188 B

Crypto News Updates :

  • Bitcoin Hits All-Time Highs Against Numerous World Currencies
  • Tencent Partners With ShareRing To Launch Blockchain Digital ID Platform
  • Galaxy Digital Will Launch A New Bitcoin Fund In Canada
  • MicroStrategy’s Bitcoin Is Up 50% In 3 Months
  • Bitcoin Price Skyrocketed Above $18,000 For First Time Since December 2017
  • Game Of Thrones’ Maisie Williams Bought Bitcoin
  • Airbnb May Consider Crypto and Blockchain


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- Bitcoin Hits All-Time Highs Against Numerous World Currencies

Bitcoin has broken record levels against at least nine world currencies as its USD price marches toward $20,000. Bitcoin hit an all time high of 62,102,236 Colombian pesos over the last 24 hours. Its former high from 2017 stood at 58,226,376. The peso first broke that level on Nov. 6 2020, reaching 59,543,988 before retracing. Crypto’s pioneering asset has also broken its previous highest ever price level relative to Brazil’s real, Turkey’s lira, Argentina’s peso, Sudan’s pound, Angola’s kwanza, Zambia’s kwacha, and Russia’s Ruble. Read Full on cointelegraph.

- Tencent Partners With ShareRing To Launch Blockchain Digital ID Platform

Chinese conglomerate Tencent Holdings is joining forces with blockchain company ShareRing to launch a new digital identification system to streamline international travel amid the pandemic. ShareRing will use Tencent Cloud’s optical character recognition, or OCR, and facial recognition technology to help improve its “self-sovereign identity app.” In its current form, the app can be used to book flights, hotel reservations, car rentals and a variety of other services. Read Full on cointelegraph.

- Galaxy Digital Will Launch A New Bitcoin Fund In Canada

Galaxy Digital, a cryptocurrency merchant bank founded by Mike Novogratz, is expanding its crypto offerings in Canada. Galaxy Digital has partnered with major Canadian investment company CI Global Asset Management to launch a public Bitcoin (BTC) fund in the country. The CI Galaxy Bitcoin Fund is a “closed-end investment fund” that aims to provide unitholders with exposure to Bitcoin. The fund will invest directly in Bitcoin using the fund’s holdings of the token based on prices of the Bloomberg Galaxy Bitcoin Index. Read Full on cointelegraph.

- MicroStrategy’s Bitcoin Is Up 50% In 3 Months

MicroStrategy an international business intelligence firm's investment in Bitcoin signalled the start of what has proven to be an extremely positive second half of 2020 for Bitcoin. The cryptocurrency’s price at the time of MicroStrategy’s first investment—August 11, 2020—was approximately $11,700. Now, after breaking $17,000, the value of MicroStrategy’s Bitcoin keeps growing. MicroStrategy which invested $425 million in Bitcoin between August and September of this year is now worth $650 million. Read Full on Decrypt.

- Bitcoin Price Skyrocketed Above $18,000 For First Time Since December 2017

Bitcoin's price keeps surging, along with the rest of the cryptocurrency market. It's now just around $2,000 away from its all-time high. The price of Bitcoin has shot up today to reach the $18,279 mark—a figure not seen since December 2017. It's up 10% today. Bitcoin's price has continued to surge over the last few months, rising up from $10,000 in early September to its current value. The cryptocurrency has now spent 112 days in a row above the $10,000 mark—its longest stretch in history. Read Full on CoinMarketCap.

- Ethereum’s Top 10 Dapps Reached One Million Daily Users

The top 10 decentralized applications (dapps) on the Ethereum blockchain have reached 1,017,760 daily active users on average over the past month, according to DappRadar’s report published today. Unsurprisingly, decentralized finance platforms accounted for over 94% of this activity. Among the top 3 dapps, DeFi platform Crypto.com alone is attracting over half a million users daily, leaving all its competition far behind. Decentralized exchange Uniswap and crypto lending platform Compound are responsible for 276,000 and 141,000 daily active users, respectively. Read Full on Decrypt.

- Game Of Thrones’ Maisie Williams Bought Bitcoin

When Maisie Williams, aka Arya Stark, Badass of Winterfell, winner of the Game of Thrones asked Twitter for investment advice yesterday, over 900,000 people responded. There are 53.4% said no to her, for invest in Bitcoin. Later she said that thanks to her fans for their advice. But Maisie Williams isn’t one to just sit in a castle and let you tell her not to buy Bitcoin as its price quickly accelerates toward record highs. She doesn’t sit back and wait for the zombie economy to run its course. No, Maisie Williams wanted that BTC. Like a true Bitcoiner, so she bought it. Read Full on Twitter.

- Airbnb May Consider Crypto and Blockchain

Airbnb may have had a change of heart on cryptocurrencies, according to the prospectus for its planned initial public offering (IPO). Filed with the U.S. Securities and Exchange Commission, the prospectus says the company’s “future success will … depend on our ability to adapt to emerging technologies such as tokenization, cryptocurrencies and new authentication technologies. It further lists distributed ledger and blockchain technologies as being possibly key at a future time. Read Full on CoinDesk.