Ether Soars As Bitcoin Finally Rallies; Banks Get Green Light To Offer Crypto Custody

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CRYPTO MARKETS

Bitcoin rose to his highest price in a month after weeks of stagnation Ether stole the headlines It rose more than 20% this week as the boom in DeFi applications paid off. After two years of disappointment with Bitcoin since the crash in early 2018, ether Maybe it found its next killer app.

Bitcoin's profits were more humble after the European Union approved a coronavirus stimulus package earlier this week, although the price has still risen below $ 10,000. But Changanceg Zhao, CEO of Binance, told Bloomberg he Bitcoin is still tied to the stock market and is prone to another crash.

BREAKTHROUGH REGULATION

The currency auditor's office, now headed by a former Coinbase manager Brian Brooks, issued a letter this week that allowed the National Banks Providing fiat bank accounts and cryptocurrency management services to cryptocurrency companies. The federal government's seal of approval is an important milestone for an industry that often has difficulty accessing traditional banking services.

"This statement clarifies that banks can continue to meet their customers' needs Securing your most valuable assets"Said Brooks," what today for tens of millions of Americans includes cryptocurrency. "

DIGITAL DOLLAR UNCERTAINTY

France's central bank said it would soon conduct a series of experiments, the teachings of which could be used to change the way money works, but Bitcoin and blockchain were excluded His statement and the list of eight participants show what a central bank's digital currency should look like.

On the other side of the Atlantic Ocean, former CFTC Commissioner Sharon Bowen said the US was "fall back a bitIn the race for a digital dollar in a webinar organized by Accenture
ACN
. Sheila Warren, leader of the blockchain at the World Economic Forum, added: "The US is late for the game.

TWITTER
TWTR
HACK FALLOUT

With Twitter still fluctuates from last week's hack that took over the accounts of several celebrities and made people send Bitcoin to them, CEO Jack Dorsey apologized and said he felt "terrible" about the social media giant's call to win. The hackers stole just over $ 100,000, but it did could have been much more– According to Coinbase, 1,100 customers couldn't send nearly $ 280,000 worth of Bitcoin to the addresses in question.

Meanwhile, Apple
AAPL
Co-founder Steve Wozniak
is Lawsuit against YouTube and Google for fraudsters to use his name and similarity in similar scams. "The accused YouTube has been in stark contrast [to Twitter] for months Host, promote, and benefit directly from similar scams without an excuse"It is said in the lawsuit that" cryptocurrency in the double-digit millions has been lost.

COMPANIES

Payment giant Visa
V.
, MasterCard
MA
and PayPal

PYPL
are all ready for drive the next wave of bitcoin and crypto adoption. In a blog post entitled "Further develop our approach to digital currency"Visa wrote:" We want to help and support the role they will play in the future of money. "MasterCard does it too Cryptocurrency companies can more easily issue their own payment cardsPayPal has reportedly prepared to offer crypto purchases to its 325 million users.

If the future of bitcoin The partnerships and cooperations with established institutions are a big step in the right direction.

ELSEWHERE

The daily Bitcoin transaction value is set to fall below the value of Tether [Bloomberg]

How activist investors could change the crypto landscape [Cointelegraph]

Can dedicated devices bring back blockchain as a technical solution? [National Law Review]



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