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Crypto News: This Week in Crypto 14/12/2020

Nexus Mutual Boss Loses $8.25 Million To Cyber Attack

Nexus Mutual, a popular decentralized insurance platform, announced on Monday, December 14, 2020, that the company’s founder, Hugh Karp, in the early hours of the day, was attacked and drained of $8.25 million worth of NXM by a member of the mutual. The Twitter post indicates that Mr. Karp’s computer was compromised and his MetaMask extension modified. The company is currently investigating the attack.

 

JPMorgan Estimates Show That Institutions May Put $600 Billion Into Bitcoin

U.S. largest bank, JPMorgan Chase, recently estimates that up to $600 billion could flow into Bitcoin. However, for this to happen, the report says that insurance companies and pension funds in the U.S., Europe, and Japan have to put just one percent of their assets into bitcoin.

 

Bank Of France’s CBDC Trial May Lead To Regulatory Changes

Banque du France, otherwise known as the Bank of France, had in the past reported it was trying out central bank digital currency CBDC in the context of clearing and settling of tokenized assets. A recent comment by the same bank indicates that there could be a potential of a digital euro approval. As reiterated by the first deputy governor of the French central bank, “these experiments will lead us to assess whether the regulatory framework currently in force needs to be adapted since we are carrying out these experiments within the current legal framework.”

 

Trading Volume On Uniswap Decentralized Exchange Surpasses $50 Billion

A recent Tweet by Hayden Adams, known to be the King of DeFi degens, made it known to the crypto community that trading volume on Uniswap, a decentralized exchange, recently surpassed $50 billion, which is split across 26,000 unique trading pairs. This seems to be a remarkable feat as decentralized finance continues to gain ground amongst many.

 

Grayscale Now Holds $13 Billion Worth of Cryptocurrencies

Grayscale Investments, a digital currency investing and cryptocurrency asset management, informed that it now holds over $13 billion in AUM as of December. 14, 2020. It has also added a billion dollars worth of inflows in less than a month, benefiting from the cryptocurrency market’s revival.

 

Binance Visa Cards Ready To Be Shipped Out To European Customers

Binance recently announced that it’s ready to ship out its visa cards to the European Economic Area region. This is to allow its customers in that region to make payments using the Binance Visa physical card using altcoins. Binance also plans to roll out this amazing product worldwide with time.

 

MetaMask Improves Security On Its Platform

MetaMask, the popular cryptocurrency wallet and browser extension announced it had improved security on its wallet. This is due to hack and exploits which continue to hit the cryptocurrency industry.

 

U.S. Senator To Promote Bitcoin When Sworn Into Congress Next Year

Senator-elect Cynthia Lummis plans to promote bitcoin when she finally assumes her position in Congress’s upper chamber next year. She is the only woman to be elected to the U.S. Senate during the 2020 presidential elections. Cynthia Lummis sees bitcoin as a “get out of debt plan” for the United States.

 

MicroStrategy To Own 0.4% Of Bitcoin In Circulation

MicroStrategy, which has found bitcoin a great hedge against inflation, will add $650 million worth of BTC to its already owned bitcoin cryptocurrency. According to data compiled by Messari, this means bitcoin will possess a little over 0.4% of all bitcoins in circulation.

 

Trump is Considering Pardoning Silk Road founder Ross Ulbricht

A recent report by The Daily Beast suggests that the White House is looking into Ross Ulbricht’s case as well as his pleas. Trump is said to have in the past expressed sympathy for Ulbricht’s situation.

Ross Ulbricht is currently serving a life sentence for his involvement in the dark web marketplace Silk Road.

 

Bitcoin Smatches Past ATH, Gaining $3K Within 24 Hrs

The largest cryptocurrency by market capitalization, Bitcoin, has successfully clearly smatched past its highest point of almost $20,000 set in the 2017/2018 bull run. BTC rose from a little over $19K+ to $22K within 24 hrs.

 

Ethereum Breaks Out of Bullish Triangle

Ethereum, which is largely in correlation with Bitcoin, also receives significant attention as bitcoin breaks its previous all-time high. Ethereum has, therefore, firmly broken above the $600 mark, trading above $650 at the time of writing. However, the cryptocurrency is far from its all-time high of about $1,430 set in January 2018.

 

Guggenheim CIO Scott Minerd Said Bitcoin Should Be Worth $400,000

Guggenheim’s Chief Investment Officer Scott Minerd told Bloomberg TV that according to their fundamental research, Bitcoin should be worth $400,000. Guggenheim is said to have gotten into bitcoin when it was $10,000, Minerd said.

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