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Cryptocurrency, Blockchain and Fintech News Headlines Update on October 19, 2020

The U.S. already has a “safe and active dynamic domestic payment system,” and will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency (CBDC), Fed’s chairman, Jerome Powell speaking at a Monday panel on cross-border payments hosted by the International Monetary Fund.

The price of Ethereum’s Ether (ETH) can rise to $800 in 2020 if this bull ‘mini-cycle’ beginnings as $800 ETH is coming back in play, as the majority of its impulse upward moves have corrected heavily to retest previous resistance levels.

Binance Jersey shuts operations less than two years after launch, all accounts on will be inaccessible as of Nov. 30, without exact reasons given but will continue to offer services to citizens of Jersey through compliant banking channels.

China is now rolling out its central bank digital currency and airdropping it to citizens. This appears to be the first of a wave of central banks who are moving forward with CBDCs.

China is doing blockchain airdrops using central bank digital currency.

Technology moves forward. Don’t get left behind.

— CZ Binance (@cz_binance) October 13, 2020

Commercial Banks in the U.S. have been given the green-light to custody digital currencies for their customers. BTC and ETH purchases via PayPal/Venmo are around the corner. Read more at coindesk > PayPal, Venmo to Roll Out Crypto Buying and Selling: Sources

Square’s Cash App generated $875 million of revenue from Bitcoin during the second quarter of 2020, up 600% YoY. You can bet other payment apps are going to want in on that as well. Read more at News > Square’s Cash App Bitcoin Revenue Surges 600% in Q2, Profit Up 711%

Over 2000 Robinhood client accounts have been compromised by hackers who gained access to accounts through a hacked email. In addition, several victims claim that hackers gained access to accounts configured with two-factor authentication, reported by Bloomberg. #Robinhood #Hack #news #finance

Central Bank of Thailand has issued $1.6 billion in government bonds on IBM blockchain, the first-ever blockchain-based platform for governmental bonds issued by Thailand, according to IBM’s official statement. #IBM #ThilandBank #CryptoNews #CryptocurrencyNews #BondsandBlockchain

The eSports team of Japanese financial corporation SBI Holdings has signed contracts with two professional players who will receive royalties payments in XRP cryptocurrency. #SBIGroup #esport #XRP #Ripple #crypto

Charlie Lee is now seeking to adopt more privacy-enhancing features which already being tested and are scheduled to be activated on the mainnet next year. #CharlieLee #Litecoin #LTC #crypto #news Read more at coindesk > In Effort to Differentiate, Litecoin Makes a Move to Privacy

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— IoTeX (@iotex_io) October 17, 2020

The New York Department of Financial Services (NYDFS) has released a report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC), found that crypto firms blocked the Twitter hackers’ crypto addresses within 40 minutes.

The crypto scam level on Twitter is reaching new levels. This is not cool.

— Elon Musk (@elonmusk) February 1, 2020

A total of 1,995 Bitcoin ($22.5 million) moves from Huobi to OKEx, transferred in two separate BTC transactions worth 998 BTC ($11.3 million) and 997 BTC ($11.3 million) at 3:51 a.m. EST and 06:22 a.m. EST, respectively, shortly after OKEx officially announced it was having temporarily suspended crypto withdrawals on Oct. 16, according to data from Whale Alert.

ℹ️ We suspect these are internal exchange transfers. We are investigating the matter right now.

— Whale Alert (@whale_alert) October 16, 2020

OKEx founder Mingxing Xu, also known as Star Xu, reportedly under investigation by police a week ago as OKEx suspending cryptocurrency withdrawals, reported by Caixin.

The Libra Association has chosen Ian Jenkins, who touts experience from HSBC, Santander, and Credit Suisse, as chief financial officer and chief risk officer for the project to supervise the Libra Network’s finances and risk management, according to an Oct. 15 announcement.

Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, the bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”, Tone Vays says in the latest edition of his Trading Bitcoin YouTube series on Oct. 14,

The price of Bitcoin (BTC) rapidly fell after surpassing $11,500 on Binance between Oct. 14 and Oct. 15. mainly due to sell-off on BitMEX, a major resistance level and the slumping U.S. stocks market, analysts are expecting another minor pullback in the near term.

After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders are becoming cautious about Bitcoin’s price after repeated rejections at $11,300 and $11,500 following the recent rally.

EToro released a crypto market quarterly report for Q3 2020, titled “What Moves the Prices of Cryptoassets,” delves into 15 significant developments that cause cryptocurrencies to rise in value include mergers, funding, halving, partnerships, staking and announcements.

Binance announced six Smart Chain DeFi projects AnySwap, Arkane Network, BakerySwap, Bitquery, PancakeSwap and Proxima will receive $350,000 in grants through the firm’s $100 million Accelerator Fund, which was designed to support the development of high-quality DeFi projects that contribute to building the industry’s infrastructure.

Monerium thinks the route to a digital euro is simpler than the European Central Bank suggests, responsed to the ECB’s recent public consultation on the digital euro on Oct. 13.

The European Central Bank should grant e-money issuers access to central bank reserves, says Monerium.
The Deutsche Energie-Agentur (DENA) has selected Energy Web to design and construct a digital registry for distributed energy resources (DERs) database, partnership with more than 20 other crypto and blockchain entities, looking to move its energy ecosystem to a blockchain decentralized database.

Bithumb Global announced the upcoming launch of Clover, a blockchain platform targeted for decentralized finance (DeFi) and powered by Polkadot (DOT) parachain technology, leveraging cross-chain capabilities and connecting decentralized finance to the centralized exchange.

Square recently announced its allocation of $50M in BTC on its balance sheets, marking the second public company in just a few weeks to do this. Public Companies placing BTC on their balance sheet is a part of Bitcoin’s ultimate scarcity game. As the conversation around inflation/deflation and economy vs. stock market continues, Bitcoin is growing more and more understood in its role in the macro-environment.

The largest derivatives exchange pretty much died, Trump got COVID and macro has been all over the place. But all these losses got pretty much instantly erased by the news of Square buying $50M of BTC. That’s pretty impressive not gonna lie

— Larry Cermak (@lawmaster) October 8, 2020

Having bitcoin understood as a macro asset is bullish because people can more coherently articulate why they have purchased something. This all began with the Paul Tudor Jones statement many months ago.

step 1: be public company
step 2: buy bitcoin
step 3: announce purchase of bitcoin
step 4: profit

— juthica (@juthica) October 8, 2020

BitMEX have been charged with operating an illegal trading platform and violating the Bank Secrecy Act. Now that BTC price discovery is happening on regulated approved venues and trust-minimized DeFi, bitcoin and crypto at large can access a broader market.

The absence of BitMEX means the next bull market will be significantly less manipulated (and healthier).

Hold on to your butts.

— 🤖 Leshner (@rleshner) October 10, 2020

Aztec announced on Monday to launch Aztec 2.0, the layer 2 network relies on zkRollups with scaling and private smart contracts as Ethereum rollup.

Gemini crypto exchange partners with BCB Group, streamlining fiat currency wire transfers and continuing to consolidate its regulated services for clients in the United Kingdom.

75+ Cryptocurrency Exchanges close down in 2020 may indicate industry instability, reported by Cryptowisser. The global crypto industry continues to show impressive growth and the cryptocurrency exchange industry is operating in a competitive environment. #exchanges #crypto #trading

3D printing stocks such as SLM Solutions and 3D Systems are currently recording massive price gains of 10% – 30% respectively which triggered by job posting from Tesla, promoting 3D printing in the Gigafactory Nevada. #3DPrinting #Tesla #finance #investing #news

Coinbase CEO Brian Armstrong provides severance package to the employees who are unhappy and want to quit after CEO’s discouragement towards activism and political discussion at the workplace.

Yet again, @brian_armstrong leads the way. I predict most successful companies will follow Coinbase’s lead. If only because those who don’t are less likely to succeed.

— Paul Graham (@paulg) September 28, 2020

The working group for the integration of the power grid of electric vehicles (EVGI), led by the members of the Mobility Open Blockchain Initiative (MOBI), Honda and GM has presented the first global standard for using distributed ledger technology to create decentralized charging networks for electric vehicles. #ElectricCars #GeneralMotors #Honda #news

Alex Lim is a certified IT Technical Support Architect with over 15 years of experience in designing, implementing, and troubleshooting complex IT systems and networks. He has worked for leading IT companies, such as Microsoft, IBM, and Cisco, providing technical support and solutions to clients across various industries and sectors. Alex has a bachelor’s degree in computer science from the National University of Singapore and a master’s degree in information security from the Massachusetts Institute of Technology. He is also the author of several best-selling books on IT technical support, such as The IT Technical Support Handbook and Troubleshooting IT Systems and Networks. Alex lives in Bandar, Johore, Malaysia with his wife and two chilrdren. You can reach him at [email protected] or follow him on Website | Twitter | Facebook

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