Weekly Recap
August 30th- September 6th, 2020
Welcome to our 1st weekly recap for September.
Overview
Crypto News
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“Venezuela is suffering through one of the worst economic crises in modern history, with its national currency, the bolivar, becoming practically worthless,” the firm wrote. “Under these circumstances, cryptocurrency has taken on an important role in Venezuela’s economy … As the Venezuelan bolivar has lost value in the midst of hyperinflation, Venezuela has become one of the most active cryptocurrency trading countries on earth.”
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Zug-based 21Shares announced Tuesday that its bitcoin exchange-traded product (ETP) has been admitted to Wiener Börse, the Vienna Stock Exchange.
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Atupri, a Swiss health insurance provider, said Monday that its 200,000 customers will now be able to make payments using bitcoin and ethereum. The 110-year old firm claims it is the “first” insurer in Switzerland to accept cryptocurrencies.
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The ongoing shortages of hard currency are now forcing financial institutions to impose severe restrictions on the quantities that clients can withdraw for onward payment.Such restrictions are forcing some Nigerian businesses to look for alternatives that are immune to censorship.
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Growing Ethereum network transaction fees, which touched new highs recently, are a direct consequence of the increasing number of defi projects and yield farming. The increased number of yield farmers leads to more transactions and slower confirmations making higher fees inevitable.
