January 2020 – Weekly Recap 4

Weekly Recap

Jan 18th, 2020 - Jan 25th, 2020

Welcome to our 4th weekly recap for January.

Overview 

 

Crypto News

 

President Joe Biden has frozen all new or pending rules introduced during the Trump administration. This includes the FinCEN’s controversial crypto wallet proposal.

On January 21, 2021, a random dude sent $21 to another random dude. And this is news because that transaction triggered a series of unfortunate events that ended up wiping $84Billion from Bitcoin’s total market cap, driving the community into a panic and causing a drop of more than 11% in the price of the largest cryptocurrency in the crypto ecosystem.

GrayScale has had its most successful week yet, buying close to $1.3 billion bitcoin, up considerably from $500 million a week during December.

Crypto asset manager Grayscale has incorporated six more trusts, including those tied to Chainlink (LINK) and Tezos (XTZ) tokens.

Mrs. Janet Yellen has made a follow-up comment about cryptocurrencies since the previous one in her recent confirmation hearing. In what seems like a contrary statement, the Treasury secretary nominee is now asserting the potential of digital currencies.

It’s not a secret that in China, Polkadot resembles a newer, better EOS, the public blockchain that swept the Chinese crypto ecosystem in 2018.

Nasdaq-listed Marathon Patent Group announced Monday that it has purchased around 4,813 bitcoin for about $150 million.

According to its new SEC filing, financial services company Rothschild Investment Corporation now holds 30,454 shares of Grayscale Bitcoin Trust (GBTC) that allows institutional investors to get exposure to the world’s largest cryptocurrency without directly owning it.

 

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