Weekly Recap
August 10th- August 16th, 2020
Welcome to our 2nd weekly recap for August.
Overview
Crypto News
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A single malicious entity controls nearly a quarter of all nodes used on the anonymous internet provider Tor Network and is using its position to steal bitcoin and other cryptocurrencies.
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The Bolivarian Council of Mayors in Venezuela signed the so-called “National Tax Harmonization Agreement” for 305 municipalities in the country, including the Petro (PTR) as a means to collect payments of taxes and sanctions.
The cryptocurrency is becoming increasingly widely used as the result of a new campaign.
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Both bitcoin and gold have risen sharply throughout 2020, driven by relentless fiat money printing by governments and central banks, keen to keep their economies afloat in the wake of the coronavirus pandemic.
BTC hit a yearly high of $12,000 just as gold soared to a record high of $2,000 per ounce.
- In a blog post on August 13, Coinbase unveiled its new crypto lending business, which places it into competition with the likes of Nexo and Blockfi. The service charges an annualized interest rate of 8% for borrows that are one year or less.
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