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Last Week In Crypto

  • San Francisco-based crypto exchange, Coinbase has developed a new feature on the platform where users from the U.S., U.K., and 40 other countries can now withdraw funds from their wallets instantly using their Visa and MasterCard debit cards. 

 

  • The European Central Bank’s task force on digital currency said in a report published in October 2020 that issuing a digital euro was of utmost importance should the need arise. However, the ECB also made it clear that the digital currency would not replace fiat currency but complement it.

 

  • Despite CFTC and DoJ allegations on Bitmex’s failure to register with the commission as a derivatives exchange in the U.S. The exchange has denied the accusation, saying they “have always sought to comply with applicable U.S. laws, as those laws were understood at the time and based on available guidance.” They promised their users that operations will continue as usual. Nevertheless, this caused bitcoin prices to decline drastically.

 

  • SBI e-sport, a Japanese gaming company with the collaboration of crypto exchange V.C. Trade, announced that it would begin to pay its players’ salaries using Ripple’s XRP, a move to attract gamers who are also crypto enthusiasts.

 

  • KuCoin’s CEO disclosed on October 3 that they have identified the culprits of the September 26 security breach. The CEO said they identified the hackers with help from law enforcement and other exchanges who locked the hackers’ accounts. Ampleforth and Ocean Protocol stepped in to intervene in the situation, to stop KuCoin’s exploiters. This raised a big question mark on whether decentralized projects are truly decentralized.

 

  • Cryptobuyer partners with Blockstream Technologies and the AnibalCripto team to install Venezuela’s Premier Bitcoin Satellite Node, enabling the residents to trade Bitcoin without needing an internet connection. 

 

  • Bitcoin and prices of other equities tanks in the wake of President Donald Trump’s announcement, stating that he had contracted the novel Coronavirus.

 

  • Cryptocurrency analysts predict a further decline in Bitcoin’s price after its latest drop to about $10,300 mark. There is a belief that Bitcoin will struggle to reach the $11,000 mark. This is because it has failed to reach the $11k mark for the past two weeks.

 

  • Prominent Tesla Investor, Yassine Elmandjra, the director of research at Ark Invest, predicts Bitcoin’s bullish run, saying that he expects Bitcoin Market Cap to boost between $1 trillion $5 trillion in the next five to ten years.
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