Crypto News: This Week in Crypto 12/10/2020

CFTC Boss, Dan Berkovitz Speaks about Bitmex Complaints; Regulatory Concerns in Crypto

Dan Berkovitz, the Chairman of CFTC, in an interview at the Digital Asset Compliance & Market Integrity Summit (DACOM) 2020, spoke about the issues surrounding cryptocurrency regulation. He also shed more light on the Bitmex controversy saying that the exchange was violating trade regulations.

Cambridge Global Payments Partners with Ripple to Improve its Cross-Border Payment Platform

Cross-border payment solution firm Cambridge global payment on October 14 announced on twitter that it had partnered with Ripple to use RippleNet to improve its payment delivery system in the Asia-Pacific markets.

Fidelity Predicts Trillions Flowing into Bitcoin in a New Report

Fidelity Digital Assets, a Fidelity branch focused on the crypto markets, released a report in October 2020. In it, they analyze bitcoin’s role as an investment and what the future could bring for the world’s first cryptocurrency, bullishly predicting that trillions could flow into bitcoin in the nearest future.

A lot of Publicly Listed Companies have Invested Billions in Bitcoin in 2020

According to recent research, Grayscale is at the forefront of companies that have massively invested in bitcoin in 2020. Over ten large public corporations are ramping up their investments in the cryptocurrency and have currently invested over $6 billion (around 526,000 BTC).

Bitcoin Charges Past 11.5k for the First time Since September Crash

The leading cryptocurrency by market capitalization, Bitcoin peaked at $11,547 at 13:45 UTC, as seen on the Bitstamp Exchange on October 12. This price is the highest bitcoin has attained since the price plunged since September 2.

Bitcoin Whale Predicts an Overdrive of Bitcoin Investments by Companies Following Square’s $50 Million

Tyler Winklevoss, the CEO of Gemini and Bitcoin billionaire, says in a tweet on October 8 that there will be a wave of institutional investments by public listed companies. Sighting MicroStrategy and Square Inc as examples, Microstrategy recently announced they invested $425 million in bitcoin. Square, Inc. also announced buying $50 million worth of BTC.

JP Morgan Chase: Bitcoin is Slightly Overvalued as a Commodity

According to an article published by BloombergQuint on October 14, several experts from JPMorgan Chase analyzed the current prices of Bitcoin and other commodities. They pointed out that Bitcoin may face selling pressure in the future as it’s currently slightly overvalued.

RippleX Begins Mass Hiring; Aims to Boost the Crypto Ecosystem

RippleX, a subsidiary of San-Francisco-based crypto exchange, focused on boosting the adoption of Ripple’s native asset XRP, has begun hiring in several positions. These positions include the posts for a senior software engineer, director of engineering, technical partner/program manager, and director of developer relations to explore prototype use cases for XRP and, as a result, boost the crypto ecosystem.

Bitmex Warns Brainwallet Users of Potential Theft as Hackers Scans Bitcoin Network for Popular Phrases

On October 13, a report was published by the BitMEX research group, warning that brain wallets with pop culture-inspired passphrases might be easy to crack with hackers purportedly setting up servers to scour the blockchain in search of victims.

Bitcoin Miners Drive Hashrate to New All-Time High of 144 EH/s

According to data from CoinMetrics, Bitcoin’s hash rate has skyrocketed to a new record of 144 EH/s as of October 14. It has now boosted past the previous record high of 143.1 EH/s that was recorded in September 2020. As explained, bitcoin’s new feat means it’s now even more challenging for hackers to take over the bitcoin network.

Australia’s Central Bank says it does not Need to Adopt Retail CBDC

The Head of Payments Policy at the Reserve Bank of Australia (RBA), Tony Richards, disclosed at the UWA Blockchain, Cryptocurrency, and Fintech conference that his agency had analyzed the retail Central Bank Digital Currencies (CBDCs) and found “no strong public policy case” for it. This is so because Australia already has a robust payment network that caters to individuals’ and corporations’ needs. He also said the RBA monitors developments surrounding CBDCs and is positioned as a “fast follower” in case CBDCs turn out to hold any tangible benefits.

Vechain Launches its Premier DEX, Vexchange

VeChain, a blockchain application platform driven by Enterprise Adoption, has revealed that its first decentralized exchange (DEX) is live on its blockchain.

The announcement was via a tweet on October 12, representing a huge milestone within its ecosystem. Vexchange presently operates a 24-hour trade volume of almost 6 million VET (approx. $68k).

Major Ripple Clients bag CX Impact Award Winners at Swell 2020

Ripple’s senior vice-president of customer success, Marcus Treacher, has awarded major clients, TP Bank and Saudi British Bank winners of the CX impact award at its annual Swell conference held from October 14-15, 2020.

Forbes Now Accepts Nominations for Its 2021 Blockchain 50 List

Forbes announced on October 14 that nominations for their Blockchain 50 list are now being accepted. The annual list comprises the top billion-dollar enterprises in the blockchain sector, which are working towards improving applications of blockchain by finding innovative ways to make businesses faster, eliminate inefficiencies, and reduce fraud.

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