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Ether rose more than 20% this week.
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CRYPTO MARKETS
Bitcoin rose to its highest price in a month after weeks of stagnation, but ether stole the headlines this week, soaring over 20% as the boom in DeFi applications begins to pay off. After two years of disappointment compared to bitcoin since its early 2018 crash, ether may have found their next killer app.
Bitcoin’s earnings were more moderate after the European Union agreed to a coronavirus stimulation package early in the week, though its price is still below $ 10,000. But Binance CEO Changpeng Zhao told Bloomberg worried that bitcoin is still tied to the stock market and is vulnerable to another accident.
Source: Messari. Prices at 4:00 pm on July 24, 2020.
BREAKTHROUGH MANAGEMENT
The Currency Manager’s office, now run by the former Coinbase executive Brian Brooks, published a letter this week allowing national banks to do so providing fiat bank accounts and cryptocurrency security services for cryptocurrency businesses. For an industry that often struggles to find traditional banking services, the federal government’s stamp of approval is a significant milestone.
“This view makes clear that banks can still meet the needs of their customers protect their most valuable assets, “Said Brooks,” is today for tens of millions of Americans including cryptocurrency. “
DIGITAL DOLLAR REQUIRED
Central bank of France He said he will soon be conducting a series of experiments whose lessons could be used to change the way money works, but bitcoin and blockchain were banned of its statement and the list of eight participants, placing restrictions on what it predicts a central bank’s digital currency will look like.
On the other side of the Atlantic Ocean, former CFTC commissioner Sharon Bowen said the United States is “falling slightly behind”In the digital dollar race on webinar organized by Accenture
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With Twitter still scrambling from last week’s hack that took over the accounts of several celebrities and tricked people into sending them bitcoin, CEO Jack Dorsey apologized and said he felt “appalled” about the incident on the social media giant’s earnings call. The hackers stole just over $ 100,000, but it did it could have been much moreCoinbase says it prevented 1,100 customers from sending nearly $ 280,000 worth of bitcoin to the addresses in question.
In the meantime, Apple
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Payment giants Visa
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all preparing up to drive the next wave of adopting bitcoin and crypto. In a blog post captioned “Promote our approach to digital currency, ”Visa wrote“ we want to help and support their role in the future of money. ”MasterCard does too easier for cryptocurrency companies to issue their own payment cards, and PayPal has been preparing to offer crypto purchases to its 325 million users.
If the future of bitcoin playing out as its opponents envisage, its partnerships and collaborations with incumbent organizations are a big step in the right direction.
ELSEWHERE
Bitcoin Daily Transaction Value is expected to fall below Tether [Bloomberg]
How Active Investors Could Operate Crypto Landscape [Cointelegraph]
Can Purpose Built Tools Bring Back Blockchain as a Tech Solution? [National Law Review]