Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto.
BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!
YFI Soars to New Heights as Aave Listing Announced
Decentralized Finance (Defi) behemoth yearn.finance’s token YFI has hit a new all-time high, roughly a week after eclipsing Bitcoin’s price.The world’s largest Bitcoin future’s trading platform OKEx just announced that it was including YFI in its latest cohort of listings. Further, lending protocol Aave also announced that YFI is now available on its platform. What do you think about this? You can read the full article by clicking here.
Crypto Twitter Not Impressed with IMF Digital Currency Education Video
Recently, the International Monetary Fund (IMF) posted a video explaining the basics of cryptocurrencies, and the responses on social media were less than positive.
Originally published in June 2018, the two-minute video features a woman breezily explaining how cryptocurrency is the “next step in the evolution of money.”
However, the two-minute video doesn’t mention Bitcoin, Ethereum, or any other cryptocurrency by name, directly reference blockchain, or touch on key features like decentralization. Crypto Twitter unleashed huge levels criticism on the video. What do you think about this video? Have you seen it? You can read more by clicking here.
Tether Tops $13 Billion to Flip Bitcoin for Transfer Value Top-Spot
The world’s most popular stablecoin, Tether (USDT), has been driven to new heights by the explosion in transactions and token swapping.
According to a recent ‘State of the Network’ Coin Metrics report, Tether’s weekly average adjusted transfer value has finally flipped Bitcoin’s.
That value has reached over $3.55 billion per day as of Aug 20, which is roughly 20% more than that for Bitcoin, reporting $2.94 billion. What do you think about this? You can read the full article by clicking here.
Brave Browser Now Features a Gemini Trading Widget
Brave users can now trade crypto and access their Gemini account balances directly from their desktop browser.
A Gemini blog post announced the new integration, “We are excited to announce that Gemini and BRAVE have partnered to make it easier for users to buy, sell, store, and earn crypto when using the Brave browser.” Have you used it yet? You can read the full article by clicking here.
Crypto Mom: ‘Americans Shouldn’t Need Permission to Invest’
SEC Commissioner Hester Peirce had the crypto community at hello. Yet “Crypto Mom,” as she’s known, continues to capture the hearts and minds of crypto investors everywhere.
The Securities and Exchange Commission decided in a 3-2 vote to ease the rules for investors who want to participate in the private capital markets, such as private equity, hedge funds, crypto and even startups. What do you think about this? You can read the full article by clicking here.
Polkadot (DOT) Surges Into Crypto Top Ten, What’s Behind the Hype?
There is a new kid on the crypto block as Polkadot (DOT) surges into the top ten in market capitalization on some analytics providers, but strangely not on others.
It has been touted as the latest ‘Ethereum killer’ but will it live up to that lofty ambition? Today’s hype on crypto twitter is all about Polkadot. The majority of digital assets are either sideways or predominantly red today, that is except DOT.
According to leading crypto market analytics websites Coingecko, Livecoinwatch, and Cryptocompare, DOT has a market cap of around $5,6 billion, which puts it at sixth place in the charts. This is just below Chainlink with $5.8 billion and above Bitcoin Cash with a market cap of $5 billion. What d you think about this project? You can find out more by clicking here.
Bitcoin Demanded as Ransom in Austrian Bomb Threat Emails
Austrian federal police announced Tuesday that a large number of emails containing bomb threats were sent to local businesses. The emails demanded approximately $20,000 in Bitcoin to prevent the alleged bombs from being detonated.The threats were not isolated to any specific city but were scattered throughout Austria. Police responded to a number of businesses, particularly in Vienna and Tyrol, but no bombs were discovered.
What do you think about this? Why do you think they requested Bitcoin? You can read more about this story by clicking here.
As Curve Finance Pushes First Governance Vote, Founder Takes Controlling Majority
The Curve Finance DeFi protocol has recently carried out its first governance vote, though it appears to have raised a few questions as the founder himself took control of most of the voting power. Additionally, a number of investors are starting to show concern about falling CRV token price. The price has dropped over 75% from 14 days ago.
What do you think about this project? You can read more by clicking here.
Japanese Fin Giant SBI Announces Crypto Derivatives Trading
SBI Group has announced it will be offering contracts for difference (CFD) trading for six cryptocurrency pairs. The service will go live at the end of this month.
The giant of Japanese finance will become the first foreign exchange (Forex) company to offer such a derivative product for digital currencies in Japan. SBI Group is currently accepting new account registrations for those wanting to trade cryptocurrency CFDs. Is mass adoption coming? You can read more by clicking here.
Police Raid Major Korean Crypto Exchange
South Korean police raided the offices of Coinbit, one of the country’s major crypto exchanges. Insiders leaked that the exchange manipulated 99% of its trade volume and police also accused the management of fraud.
The Seoul Police Agency’s Metropolitan Investigation Department raided South Korea’s third-largest crypto exchange Wednesday morning. The South Korean newspaper Seoul Shinmun has reported that police inspected several locations, including the company’s headquarters in Gangnam-gu, Seoul. To read more, click here.
JPMorgan Inches Closer to Crypto in ConsenSys Tie Up
In an announcement that had been speculated about in the media, ConsenSys, which serves as a startup incubator for Ethereum-based projects, has acquired JPMorgan’s Quorum platform. The announcement closely aligns the worlds of traditional and decentralized finance (DeFi). JPMorgan has officially gone down the cryptocurrency rabbit hole.
The deal was forged with an investment in ConsenSys from the largest US bank, the details of which both companies are holding close to the vest. To read more about this story, click here.
Binance Gets Green Light to Launch in Florida
The U.S. arm of the cryptocurrency exchange giant BINANCE has been granted a license to launch services in the state of Florida. Initially, Binance.US launched in 37 states and avoided those with more stringent requirements. The expansion into America’s third most populous state is enabled by Binance.US’s July obtainment of a money transmitter license.
Qualifying for this license means that Binance.US is now “fully registered and regulated [as a] crypto and digital asset exchange,” and Floridians can transact in all the digital currencies that Binance.US supports.
The license is good for two years and grants Binance access to what it covets most: a new market. Florida has roughly 12.3 million residents over the age of 18, and hence, offers 12.3 million potentially eligible traders. To read more about this, click here.
Australian Conman Arrested for Alleged $1.73M Bitcoin Swindle
Serial Australian conman Peter Foster, who is alleged to have netted $1.73 million worth of stolen bitcoin by impersonating someone else, has been arrested in Queensland, Australia.
According to a report by The Sydney Morning Herald, on August 20, Mr. Foster was apprehended while walking his dogs on the beach in Port Douglas, Queensland. He was dramatically tackled and arrested by two detectives posing as joggers. To read more, click here.
That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!
