Bitcoin News Summary – July 2, 2018

Here’s what happened this week in Bitcoin in 99 seconds.

 

Facebook will rescind its ban on crypto ads across its social media platform. The ban was instituted in January. The move stoked rumors that Facebook is intending to launch its own crypto or even acquire US exchange giant, Coinbase. For now, all that’s clear is that crypto ads will be reaching more eyeballs.

Silicon Valley investment firm Andreessen Horowitz introduced a new $300 million Dollar crypto venture fund, known as a16z crypto.  The fund will invest globally into crypto projects with proven applications, regardless of the current bearish market conditions.

Chinese crypto company, BTCC, is selling a 49% stake in its crypto mining business for nearly $19 million USD. BTCC’s mining pool currently accounts for 1.6% of network hashrate. The contract stipulates a yearly profit expectation of roughly $3.8 million USD.

According to results of a survey, 35% of Europeans believe Bitcoin to be the future of online payment. Two thirds of Europeans are aware of crypto and 15% of respondents wish to be paid in it. The survey was conducted by Dutch banking group, ING, who questioned about 15,000 people.

the American financial regulator, the SEC, sought public comment on a proposed Bitcoin ETF, or exchange-traded fund. If approved, the SolidX Bitcoin ETF will trade alongside Bitcoin futures on the Chicago Board Options Exchange.

That’s what happened this week in Bitcoin. See you next week.

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