Weekly Recap November 1st, 2020 – November 6th, 2020 Welcome to our 1st weekly recap for November. Overview  Crypto News [1] Ethereum Blockchain Chosen by Reserve Bank of Australia for Issuing CBDC The RBA has partnered with Australia’s two largest banks and leading Ethereum software company ConsenSys that is spearheaded by Joseph Lubin, one of the cryptocurrency’s co-founders. The findings of the project are expected to be presented in early 2021. [2] Half a Billion Withdrawn From Huobi as China Intensifies War on Bitcoin Rumors are spreading the Chinese authorities have put under investigation Zhu Jiawei, the COO of Huobi, a Chinese run exchange with a flourishing Over the Counter (OTC) market that serves China. [3] PayPal Raises Crypto Limits to $15,000 Following Unprecedented Demand In Monday’s quarterly earnings call, PayPal executives confirmed that they’d seen so much interest in the feature that they would raise buying limits from $10,000 to $15,000. [4] Ethereum 2.0 begins launch process as deposit contract goes live Ethereum 2.0 Phase 0 has now beenContinue reading »

Ocean Protocol V3 Introduction Ocean Protocol is a DEX platform whose goal is to empower data-ownership and decentralizing servers. It is a culmination of blockchain, data sharing framework, and ecosystem related services. Providers and consumers can utilize the platform to share, stake and trade data access whilst retaining transparency, traceability, and security for all stakeholders involved using datatokens. A datatokens is an interoperable ERC20 that represents both the value and the access permission of a registered dataset which could be a copyrighted IP or encrypted data on a storage device. A user must send 1.0 datatoken to the data provider to acquire the license to use that dataset. Datatokens can also be used as the interface that connects data assets with blockchain and DeFi tools via DeFi composability within Ocean. Each data service in Ocean Protocol will also be assigned its own data token and can be leveraged as their equivalent. For example, crypto wallets can become data wallets, crypto exchanges to data marketplaces, or DAOs as data co-ops. ThisContinue reading »

Monthly Recap October, 2020 Welcome to our monthly recap for October. Overview  Crypto News [1] Bitcoin Plummets as CFTC and FBI File Charges Against BitMEX The American FBI and CFTC are going after the largest Bitcoin derivatives exchange BitMEX for operating an “illegal” exchange. CFTC and the U.S. Attorney for the District of New York have charged BitMEX for operating an unregulated exchange and non-compliance with KYC and AML guidelines. [2] Coinbase now offers ‘instant’ withdrawals via Visa and Mastercard Crypto exchange Coinbase is now offering “instant” withdrawals in nearly 40 countries, including the U.S. and the U.K. The new feature is being facilitated via Visa and Mastercard. [3] UK regulator bans sale of crypto derivatives to retail users The U.K.’s Financial Conduct Authority (FCA) has today officially banned the sale of cryptocurrency derivatives and exchange-traded notes to retail users, more than a year after first proposing such a ban. The ban will come into effect on January 6, 2021. [4] Google Cloud Joins EOS Community to Become Block Producer:Continue reading »

Synthetix Introduction Synthetix, was formerly known as Havven, and was rebranded during November 2018 to better represent its growth. The project which has initially started as a payment network had grown to become an asset issuance Defi protocol with an active community governance system and is recognized as the leading derivative Defi with ~$563m TVL.   Source: https://defipulse.com/ Within the platform, assets locked in a contract are collateralized using the Synthetix Network Token, SNX, to generate various synthetic assets such as sUSD, sAUD, sKRW, called Synths. Users will be able to convert between Synths directly with the smart contract, improving the liquidity of DEXes. Holders of SNX stakes are paid a pro-rata portion of the fees generated by Synthetix’s Exchange as an incentive for their contribution. Additionally, token holders can participate in governing multiple variables of the ecosystem as a whole; at one point even uniting and voted on an improvement proposal even without the support of the Synthetix team after a community debate in the Synthetix Discord. Source: ChangeContinue reading »

Weekly Recap September 13th- September 20th, 2020 Welcome to our 4th weekly recap for September. Overview  Crypto News Macroeconomic Trends Boost Bitcoin and Gold, US Dollar Index Shows Bearish Double-Top As members of the U.S. Federal Reserve plan to convene this week, both gold and bitcoin (BTC) markets have started to climb in value ahead of the meeting. Bitcoin prices rose over 4% during the afternoon’s trading sessions and gold jumped 0.76% as well. The price of one ounce of fine gold is $1,956.24 at the time of publication. Meanwhile, after a brief upswing in value, the U.S. dollar has started to show signs of weakness again after losing massive amounts of value this year. US Consumers Flock To the First Mastercard Branded BitPay Card BitPay, the Atlanta-based cryptocurrency services provider, has recently released blockchain payment statistics that show how the market performed in 2020. Among other interesting points, the data signals strong support from U.S. consumers for the company that announced its first Mastercard branded card just a fewContinue reading »

Weekly Recap September 6th- September 13th, 2020 Welcome to our 3rd weekly recap for September. Overview  Crypto News Cryptocurrencies Now Accepted for 15,000 Restaurants in France on Just Eat Online food ordering platform Just Eat has begun accepting cryptocurrencies for over 15,000 restaurants in France. The Just Eat group operates in 13 countries. Its website for France has recently undergone a significant makeover following the acquisition of Just Eat Plc by Takeaway.com. The latter has been accepting bitcoin for quite some time. Mastercard Launches Digital Currency Testing Platform for Central Banks Global payments company Mastercard announced Wednesday the launch of its “proprietary virtual testing environment” for central banks to evaluate use cases of their central bank digital currencies (CBDCs). European Union Seeks Strict Regulation of Crypto and Stablecoins in New Draft Law According to the report, the regulation will seek to tackle bitcoin’s high volatility as well as “risks posed by systemic ones, like libra” by creating a “new college of supervisors” involving existing national and continental regulatory agencies –Continue reading »

Weekly Recap August 30th- September 6th, 2020 Welcome to our 1st weekly recap for September. Overview  Crypto News Venezuela’s Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index “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.” Leading Stock Exchanges in Switzerland, Germany, Austria Now List Bitcoin ETP Zug-based 21Shares announced Tuesday that its bitcoin exchange-traded product (ETP) has been admitted to Wiener Börse, the Vienna Stock Exchange. Major Swiss Insurer Adds Bitcoin and Ether Payments 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 acceptContinue reading »

Weekly Recap August 23rd- August 30th, 2020 Welcome to our 4th weekly recap for August. Overview  Crypto News IMF calls crypto “special currency” and educates the public The International Monetary Fund (IMF) had recently published a video explaining what cryptocurrency is. Besides suggesting that cryptocurrency could “completely change the way we sell, buy, save, invest, and pay our bills,” IMF went on by saying that it “could be the next step in the evolution of money.” Korean Police Seize Crypto Exchange Coinbit Over Allegations of $84 Million in Wash Trades Police in South Korea on Wednesday raided and seized the offices of Coinbit, the country’s third-largest crypto exchange, over allegations it faked 99% of its trading volume. New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund The U.S. Securities and Exchange Commission (SEC) has published a new filing for a bitcoin fund, submitted by Fidelity Investments’ head of strategy and planning. Visa Exec Says ‘Opt Out With Bitcoin’ Slamming Fed’s Policy Change Toward Inflation On Thursday, 17 top FederalContinue reading »

Weekly Recap August 16th- August 23rd, 2020 Welcome to our 3rd weekly recap for August. Overview  Crypto News Bitcoin’s Hashrate Hits Record High 130 EH/s, as BTC Price Faces Resistance at $12,000 Bitcoin’s seven-day average hash rate has reached a new all-time high of 130 exahash per second (EH/s) – a feat that might positively influence the asset’s price, while adding to the fundamental strength of the Bitcoin network.   Excessive Flooding in Sichuan Causes 20% Hashrate Losses for Chinese Bitcoin Miners Torrential downpours of nonstop rain have been wreaking havoc in China’s Sichuan province, which has caused some operations to shut down ASIC mining devices. Reports from the region show that certain areas have seen electrical shortages and the aftermath is causing quite a bit of stress for Chinese bitcoin miners.   Report: Bitcoin Untied from the Economic Cycle, ‘Largely Uncorrelated to Other Asset Classes’ On Tuesday, Coinshares Investment strategist James Butterfill published a report which shows that bitcoin is a unique asset, but is “largely uncorrelated to otherContinue reading »

FTX Exchange Introduction FTX is a crypto derivative exchange offering scalable futures, leveraged tokens and OTC trading for the DeFi market. The Hong Kong-based exchange was only launched in May 2019, but has grown to be one of the top five exchanges in traded volume and is quickly outpacing most competitors. This growth could be attributed to the solid reputation the company has established for itself, even before its adoption of DeFi projects. As interests and competition in DeFi grew, FTX stood out from the competition due to their adaptability and innovation. Alameda Research, the exchange’s primary market maker, is also a investor in the DeFi project, mStable, a stable assets swapping protocol. The company is also an active participant in the Defi ecosystem. Alameda has proposed and voted on several Compound governance proposals, in addition to playing a crucial role in enhancing the Balancer‘s protocol distribution mechanics. FTX operates by tokenizing leveraged futures positions using a generated ERC20 token as representation, which can then be traded as a spotContinue reading »