You are at: Home » Bitcoin News Summary – May 20, 2019

Bitcoin News Summary – May 20, 2019

Last updated on:
Fact Checker

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

Crypto markets this week reached their highest level since August of 2018. Markets then corrected downwards, however, sentiment is still bullish, with major news networks covering the resurgence of crypto.

Bitcoin, Ethereum, BCH, and Gemini exchange’s US Dollar-based stablecoin can now be used to purchase goods from Starbucks, Whole Foods, Nordstrom and many more retailers. The US-based payments service, Flexa in collaboration with Gemini confirmed that their new crypto app, Spedn, will enable instant crypto payments in participating stores.

It was reported that BitOasis exchange, which is based in the United Arab Emirates, received a preliminary license to operate. If a full license is granted, BitOasis would be the first officially approved and regulated exchange in the region to offer crypto trading and storage.

San Francisco Open Exchange, or SFOX, has partnered with M.Y. Safra Bank, to bring Federal deposit insurance to the Bitcoin trading space. The move represents the first time that crypto traders will have their funds guaranteed by the state, up to $250,000. This is another strong signal for the increasing integration of crypto into mainstream finance.

New Zealand’s Cryptopia exchange was hacked in January of this year. The exchange went offline this week, displaying only a message that a firm has been appointed to handle liquidation proceedings. Most users have been unable to withdraw funds from Cryptopia since the breach occurred.

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

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
We hate spam as much as you do. You can unsubscribe with one click.
We hate spam as much as you do. You can unsubscribe with one click.

1 comments on “Bitcoin News Summary – May 20, 2019”

Leave a Comment

Your email address will not be published. Required fields are marked *

  1. Charles Maurice Williams

    A timely news article. I wasn’t aware that certain trading-houses are now backing the Crypto-currency, such as in San Francisco, where it is reported that verifiable Crypto is being insured by the government for up to $250,000. Great column by @StevenHay on this one. Thanks for posting!

Scroll to Top