January 2020 – Weekly Recap 5

Weekly Recap

Jan 25th, 2020 - Feb 1st, 2020

Welcome to our 5th weekly recap for January.

Overview 

Crypto News

 

Following in MicroStrategy and Square’s footsteps, Bitcoin mining company Marathon Patent Group is now investing a large portion of its treasury reserve in BTC.

With the ongoing saga of Gamestop shares surging as a result of the r/wallstreetbets subreddit, Robinhood and other trading platforms such as WeBull and Apex Holdings (the clearing firm for among others, Public.com) has refused to allow for the buying of more GameStop GME +19.2% shares.

Popular social media network Reddit, which counts over 1.7 billion monthly visits, is deepening its ties with the Ethereum Foundation in what it has formalized as its first-ever blockchain partnership.

Blockchain company Ripple has filed its preliminary response to the lawsuit that was announced by the U.S. Securities and Exchange Commission in December.

When the richest man in the world, Elon Musk, updated his Twitter bio on Friday — simply adding the word “Bitcoin” — it was followed by a near-immediate 13% increase to the Bitcoin (BTC) spot price.

The enterprise business firm entered the Bitcoin space last year amidst fears of inflation and a depreciating dollar. It’s now urging other corporations to do the same.

During the Visa Q1 earnings call on Thursday, chairman and CEO Al Kelly devoted a portion of his comments to reaffirming the financial giant’s commitment to crypto payments and onramps, as well as explaining “how Visa thinks about crypto in general and our approach.”

Visa’s CEO, Al Kelly, suggests Visa could add cryptocurrencies to its list of over 160 currencies, according to the transcript of an earnings call.

Jesse Powell, chief executive of crypto exchange Kraken, says the firm is seeing a significant uptick in the number of new users as interest in cryptocurrencies grows.

 

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