{"id":1399,"date":"2020-10-30T23:30:01","date_gmt":"2020-10-31T06:30:01","guid":{"rendered":"https:\/\/synq.tech\/a\/?p=1399"},"modified":"2020-10-30T23:30:02","modified_gmt":"2020-10-31T06:30:02","slug":"monthly-recap-october-2020","status":"publish","type":"post","link":"https:\/\/synq.tech\/a\/2020\/10\/30\/monthly-recap-october-2020\/","title":{"rendered":"October, 2020 &#8211; Monthly Recap"},"content":{"rendered":"<h1 style=\"text-align: center;\">Monthly Recap<\/h1>\n<pre style=\"text-align: center;\">October, 2020<\/pre>\n<p>Welcome to our monthly recap for October.<\/p>\n<h2><strong>Overview\u00a0<\/strong><\/h2>\n<h2><img loading=\"lazy\" class=\"alignnone size-full wp-image-1400\" src=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10.png\" alt=\"\" width=\"2600\" height=\"1600\" srcset=\"https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10.png 2600w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-300x185.png 300w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-1024x630.png 1024w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-768x473.png 768w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-1536x945.png 1536w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-2048x1260.png 2048w, https:\/\/synq.tech\/a\/wp-content\/uploads\/2020\/10\/oct-10-260x160.png 260w\" sizes=\"(max-width: 2600px) 100vw, 2600px\" \/><\/h2>\n<h2>Crypto News<\/h2>\n<ul>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n<div id=\"node-1\" class=\"article-pharagraph\">\n<div id=\"node-1\" class=\"article-pharagraph\">\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/cryptobriefing.com\/bitcoin-plummets-cftc-fbi-file-charges-bitmex\/\">[1] Bitcoin Plummets as CFTC and FBI File Charges Against BitMEX<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>The American FBI and CFTC are going after the largest Bitcoin derivatives exchange BitMEX for operating an \u201cillegal\u201d exchange.<\/p>\n<p>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.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.theblockcrypto.com\/linked\/79729\/coinbase-instant-withdrawals-visa-mastercard\">[2] Coinbase now offers &#8216;instant&#8217; withdrawals via Visa and Mastercard<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Crypto exchange Coinbase is now offering \u201cinstant\u201d withdrawals in nearly 40 countries, including the U.S. and the U.K.<\/p>\n<p>The new feature is being facilitated via Visa and Mastercard.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.theblockcrypto.com\/post\/79911\/uk-regulator-fca-bans-crypto-derivatives-retail-users\">[3] UK regulator bans sale of crypto derivatives to retail users<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>The U.K.\u2019s 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.<br \/>\nThe ban will come into effect on January 6, 2021.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/u.today\/google-cloud-joins-eos-community-to-become-block-producer-blockone\">[4] Google Cloud Joins EOS Community to Become Block Producer: Block.one<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>In a press release shared with U.Today exclusively, Block.one unveiled that the global cloud monster Google Cloud intends to join the EOS community and become a Block Producer on the EOS network. Google Cloud joining in is a major milestone for EOS Google Cloud intends to become a block producer (BP) candidate on the EOS network and, after joining it, this branch of the global IT heavyweight will leverage EOS as it is taking steps to become one of its BPs.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.theblockcrypto.com\/post\/80175\/jack-dorsey-square-purchases-50-million-worth-of-bitcoin\">[5] Jack Dorsey\u2019s Square purchases $50 million worth of bitcoin<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Square, Twitter CEO Jack Dorsey\u2019s payment company, has purchased $50 million worth of bitcoin.<br \/>\nThe investment represents approximately 1% of Square\u2019s total assets as of Q2 2020.<br \/>\nSquare has become the second publicly-listed company after MicroStrategy to invest in bitcoin.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.cryptopolitan.com\/chinese-cbdc-shenzhen-airdrop\/\">[6] Chinese CBDC: Shenzhen plans to airdrop 10 million RMB in digital Yuan<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>The authorities in China\u2019s province of Shenzhen are planning to airdrop the soon-to-launch Chinese CBDC to its local residents. Reportedly, this will mark as the largest campaign initiated as part of the pilot program for the Chinese digital currency.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.zdnet.com\/article\/chinese-city-launches-cryptocurrency-lottery-gives-away-digital-coins-to-promote-adoption\/\">[7] Chinese city launches cryptocurrency lottery, gives away digital coins to promote adoption<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>As reported by the South China Morning Post, citizens have been able to enter a lottery to receive the digital funds, of which coins worth 10 million yuan ($1.47 million) will be awarded to promote their use in roughly 3,400 designated stores in the Luohu district.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/u.today\/ripple-giant-shifts-50-mln-xrp-while-receiving-17-mln-from-binance\">[8] Ripple Giant Shifts 50 Mln XRP, While Receiving 17 Mln from Binance<br \/>\n<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>XRPL Monitor spotted gargantuan amounts of XRP moved by the blockchain behemoth Ripple. Meanwhile, large XRP movements have been noticed on various Ripple ODL partner exchanges, and the Binance giant transacted 13 mln XRP to the San Francisco-based tech company.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/news.bitcoin.com\/grayscale-1-billion-crypto-bitcoin-cash\/\">[9] Grayscale Adds $1 Billion to Crypto Products in Q3, Sees &#8216;Unprecedented Demand&#8217; for Bitcoin Cash<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Grayscale Investments has announced a record quarterly performance, raking in $1.05 billion in investments, mostly from institutional investors. The company also sees \u201cunprecedented demand\u201d for bitcoin cash.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/decrypt.co\/45138\/bitcoin-is-getting-two-major-improvements-in-historic-code-update\">[10] Bitcoin Is Getting Two Major Improvements in Historic Code Update<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Schnorr signatures and Taproot, formally the Bitcoin Improvement Proposals (BIP) 340 and 341, are two of the biggest changes to Bitcoin since the activation of Segregated Witness (SegWit)\u2014an implementation which increased Bitcoin\u2019s blocksize limit\u2014in 2017. Schorr itself is based on the SegWit mechanism.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.forbes.com\/sites\/roberthart\/2020\/10\/21\/paypal-finally-welcomes-cryptocurrencies\">[11] PayPal Finally Welcomes Cryptocurrencies, Including Bitcoin, Ethereum<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>PayPal has finally decided to embrace crypto and will soon offer its U.S. customers the ability to buy, hold, sell, and use various virtual currencies, having obtained a New York license permitting it to do so.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/cryptobriefing.com\/hackers-drain-defi-protocol-harvest-finance-24-million\/\">[12] Hackers Drain DeFi Protocol Harvest Finance of $24 Million<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Hackers obtained USDT and USDC stablecoins worth $24 million from Harvest Finance\u2019s stablecoin and BTC pools.<br \/>\nHarvest\u2019s governance token FARM plummeted 60% following the revelation of the hack.<br \/>\n$400 million in total liquidity have been drained out of Harvest Finance as liquidity providers (LPs) flee the platform.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/www.theblockcrypto.com\/post\/82411\/singapore-biggest-bank-dbs-crypto-exchange?utm_source=cryptopanic&amp;utm_medium=rss\">[13] Singapore&#8217;s biggest bank DBS is launching a crypto exchange<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Dubbed &#8220;DBS Digital Exchange,&#8221; the trading platform would allow users to trade in four crypto assets \u2014 bitcoin (BTC), bitcoin cash (BCH), ether (ETH), and XRP \u2014 against Singapore dollar (SGD), Hong Kong dollar (HKD), Japanese yen (JPY) and U.S. dollar (USD).<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/bitcoinmagazine.com\/articles\/from-brazil-to-turkey-bitcoin-prices-hit-all-time-highs-around-the-world\">[14] From Brazil To Turkey, Bitcoin Prices Hit All-Time Highs Around The World<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>As cryptocurrency analyst Jason Deane explained in his recent coverage of these price milestones, the fact that BTC\/lira has hit an all-time high, while BTC\/USD has not, indicates that the lira\u2019s purchasing power against the world reserve fiat currency has weakened.<\/p>\n<\/div>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/cointelegraph.com\/news\/jpm-coin-debut-marks-start-of-blockchain-s-value-driven-adoption-cycle\">[15] JPM Coin debut marks start of blockchain\u2019s value-driven adoption cycle<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>JPMorgan Chase announced that its native digital currency offering \u2014 the JPM Coin \u2014 has finally been deployed for mainstream use by one of the firm\u2019s technical associates. The token is designed to facilitate JPMorgan Chase\u2019s various cross-border monetary transactions.<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<h2>Related News<\/h2>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/dailyhodl.com\/2020\/10\/09\/ripple-launches-new-service-utilizing-crypto-asset-xrp-to-fund-instant-cross-border-payments\/\">[15] Ripple Launches New Service Utilizing Crypto Asset XRP to Fund Instant Cross-Border Payments<br \/>\n<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>Financial institutions and money service providers using the San Francisco startup\u2019s XRP-powered, cross-border payment product, On-Demand Liquidity (ODL), can borrow Ripple\u2019s native currency for a one-time fee via an approval system that will move faster than legacy financial options, according to a press release.<\/p>\n<ul>\n<li>\n<h4 class=\"title\"><a href=\"https:\/\/u.today\/ripple-wires-nearly-100-mln-xrp-while-ripplenet-and-odl-now-available-in-55-countries\">[15] Ripple Wires Nearly 100 Mln XRP, While RippleNet and ODL Now Available in 55+ Countries<br \/>\n<\/a><\/h4>\n<\/li>\n<\/ul>\n<p>According to data shared by the XRPL Monitor bot, San Francisco-based tech behemoth Ripple has conducted several large transactions, transferring approximately 100 mln XRP between its wallets and sending part of the money to its ODL corridor in Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Monthly Recap October, 2020 Welcome to our monthly recap for October. Overview\u00a0 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 \u201cillegal\u201d exchange. CFTC and the U.S. Attorney for the District of New York<\/p>\n","protected":false},"author":4,"featured_media":1401,"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\/10\/bitcoin-btc-mobil-charts-wo1.jpg","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>October, 2020 - Monthly 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\/10\/30\/monthly-recap-october-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"October, 2020 - Monthly Recap &bull; SynQ\" \/>\n<meta property=\"og:description\" content=\"Monthly Recap October, 2020 Welcome to our monthly recap for October. 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