{"id":1258,"date":"2020-08-07T19:02:33","date_gmt":"2020-08-08T02:02:33","guid":{"rendered":"https:\/\/synq.tech\/a\/?p=1258"},"modified":"2020-08-07T19:03:29","modified_gmt":"2020-08-08T02:03:29","slug":"august-07-2020-weekly-recap","status":"publish","type":"post","link":"https:\/\/synq.tech\/a\/2020\/08\/07\/august-07-2020-weekly-recap\/","title":{"rendered":"August 07 2020 &#8211; Weekly Recap"},"content":{"rendered":"<h1 style=\"text-align: center;\">Weekly Recap<\/h1>\n<pre style=\"text-align: center;\">August 1st - August 7th, 2020<\/pre>\n<p>Welcome to our weekly recap for August.<\/p>\n<h2><strong>Overview\u00a0<\/strong><\/h2>\n<h2><a href=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly.png\"><img loading=\"lazy\" class=\"aligncenter wp-image-1259 size-large\" src=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-1024x630.png\" alt=\"\" width=\"1024\" height=\"630\" srcset=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-1024x630.png 1024w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-300x185.png 300w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-768x473.png 768w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-1536x945.png 1536w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/aug7-weekly-2048x1260.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/h2>\n<h2>Crypto News<\/h2>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/crypto-derivatives-set-new-records-eth-futures-set-all-time-highs-cme-open-interest-spikes\/\"><strong>Crypto Derivatives Set New Records, ETH Futures Set All-Time Highs, CME Open Interest Spikes<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>Digital currency derivatives have been on fire during the last two weeks as Ethereum futures volumes touched an all-time high on Sunday. The popular derivatives trading platform Deribit saw 1.9 million ETH contracts traded and CME Group is now the third-largest exchange in terms of bitcoin futures open interest.<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/news.bitcoin.com\/us-congressmen-want-irs-balance-taxation-innovation-in-cryptocurrency-space\/\"><strong>US Congressmen Want IRS to Balance Taxation and Innovation in the Cryptocurrency Space<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p>The four congressmen are Bill Foster (D) of Illinois, Darren Soto (D) of Florida, Tom Emmer (R) of Minnesota, and David Schweikert (R) of Arizona.<\/p>\n<p>In their letter addressed to IRS Commissioner Charles Rettig, the quartet expressed concern that the \u201ctaxation of staking rewards as income may overstate taxpayers\u2019 actual gains from participating in this new technology.\u201d<\/p>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/www.coindesk.com\/ethereum-classic-suffers-second-51-attack-in-a-week\"><strong>Ethereum Classic Suffers Second 51% Attack in a Week<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-0\" class=\"article-pharagraph\">\n<p class=\"text \">Ethereum Classic has suffered its second 51% attack in a week after more than 4,000 blocks were reorganized Thursday morning.<\/p>\n<\/div>\n<div id=\"node-1\" class=\"article-pharagraph\">\n<p class=\"text \">Mining pool Ethermine\u2019s parent entity\u00a0<a href=\"https:\/\/twitter.com\/etherchain_org\/status\/1291216063628226562\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"undefined (opens in a new tab)\" data-reactroot=\"\">Bitfly<\/a>\u00a0and crypto exchange\u00a0<a href=\"https:\/\/twitter.com\/binance\/status\/1291225022866944000\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"undefined (opens in a new tab)\" data-reactroot=\"\">Binance<\/a>\u00a0reported the reorganization, announcing all Ethereum Classic payouts, withdrawals and deposits had been suspended due to the attack.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<ul>\n<li><a href=\"https:\/\/www.coindesk.com\/goldman-sachs-eyes-token-bank-appoints-head-digital-assets\"><strong>Goldman Sachs Eyes Own Token as Bank Appoints New Head of Digital Assets<\/strong><\/a><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type: none;\">Matthew McDermott, Goldman&#8217;s new digital asset global head, confirmed the U.S. investment bank was exploring whether to launch its own digital asset, CNBC reported Thursday.<br \/>\n&#8220;We are exploring the commercial viability of creating our own fiat digital token, but it\u2019s early days as we continue to work through the potential use cases,&#8221; he said.<\/li>\n<li style=\"list-style-type: none;\"><\/li>\n<li style=\"list-style-type: none;\"><\/li>\n<li style=\"list-style-type: none;\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-0\" class=\"article-pharagraph\">\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Weekly Recap August 1st &#8211; August 7th, 2020 Welcome to our weekly recap for August. Overview\u00a0 Crypto News Crypto Derivatives Set New Records, ETH Futures Set All-Time Highs, CME Open Interest Spikes Digital currency derivatives have been on fire during the last two weeks as Ethereum futures volumes touched an all-time high on Sunday. The<\/p>\n","protected":false},"author":4,"featured_media":1260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[30,52],"tags":[81,91,92,89,87,88,94],"jetpack_featured_media_url":"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/08\/btc-bitcoin-cryptocurrency-crypto-money-currency-coin-finance-mining1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>August 07 2020 - Weekly Recap &bull; SynQ<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/synq.tech\/a\/2020\/08\/07\/august-07-2020-weekly-recap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"August 07 2020 - Weekly Recap &bull; SynQ\" \/>\n<meta property=\"og:description\" content=\"Weekly Recap August 1st - August 7th, 2020 Welcome to our weekly recap for August. 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