Weekly Recap
November 16th, 2020 - November 23th, 2020
Welcome to our 3rd weekly recap for November.
Overview
Crypto News
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The dollar has lost significant value against the Chinese Yuan (CNY) since May of this year.
It has dropped from $1 buying you 7.2 CNY to now just 6.5 CNY, its lowest level in two years.
Crypto investors who register their XRP in an eligible account will receive free Spark tokens in a 1:1 ratio when the Ripple-backed blockchain company holds its “snapshot day” on December 12th. Recipients will retain ownership of their XRP holdings while receiving the new tokens.
In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal.
Some 3.2 million testnet eth and more than 100,000 validators are now staking on it, showing significant demand to test the new Proof of Stake ethereum blockchain which is expected to go out imminently.
His nomination by President Trump still requires the Senate to confirm him before he becomes the official Comptroller of the national bank regulator.
Before his nomination appears before the Senate house, he has to first scale through the confirmation hearing of The U.S. Senate Banking Committee which oversees the Office of the Comptroller of the Currency (OCC).
Bitfinex’s derivatives platform is in the news today after it announced the launch of its perpetual contracts for IOTA, Chainlink, and Uniswap. Each of these contracts will offer users maximum leverage of up to 100x, leverage that is typical of such contracts and they will be settled in Tether (USDt) tokens.
Jay Clayton, the current chairman of the Securities and Exchange Commission (SEC), announced he will be stepping down from his position by the end of 2020.
During his tenure, Clayton has blocked all proposals for a Bitcoin ETF and waffled on whether tokens like XRP are indeed securities.
