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Google Reverses Crypto Ads Ban | This Week in Crypto – Jun 7, 2021

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Square is considering building a Bitcoin hardware wallet, Google lifts a ban on crypto ads and can Norton antivirus mine Ethereum? These stories and more, this week in crypto.

Bitcoin 2021 concluded over the weekend here in Miami. Friday’s opening remarks were delivered by Miami mayor Francis Suarez, who revealed he first bought BTC when the price was about $40,000. Political figures such as Ron Paul and Wyoming senator Cynthia Lummus, Bitcoin pioneer Nick Szabo, Twitter founder Jack Dorsey, and Microstrategy’s Michael Saylor headlined a powerful lineup of speakers touching on various topics.

Google has lifted a ban on cryptocurrency exchanges advertising on its platform. The nearly three year old policy was originally enacted to counter scam projects. Advertisers under the new policy must be registered either with FinCen or an officially chartered bank, and be in compliance with federal legal requirements and Google Ads policies.

Payment app, Square’s CEO Jack Dorsey revealed an upcoming entrance into the hardware wallet market. If Square proceeds with Dorsey’s plans, the new hardware wallet will have non-custodial solutions, so you can control your private key/ and it would be built entirely in the open, from software to hardware design, and in collaboration with the community.

Wall Street’s giant asset manager, Guggenheim Partners may invest in Bitcoin and other cryptocurrency assets through its latest fund called Guggenheim Active Allocation Fund. A recent filing with the Securities and Exchange Commission revealed the giant’s plans to receive the exposure through cash-settled crypto derivatives instruments. Guggenheim Partners manages over 270 billion dollars.

Standard Chartered Bank is setting up its own digital currency exchange. The move comes as a means of attracting more customers and specifically competing with another banking giant HSBC which is opposed to crypto. The project will be undertaken by the company’s innovation department in partnership with a Hong Kong-licensed cryptocurrency exchange.

Norton 360—a company popular for its antivirus software—has announced a new product that will allow its customers to mine Ethereum. The firm says that digital miners take a lot of risks when extracting new cryptocurrencies, and this will allow them to invoke more protection while garnering profits from digital coins.

Electric car company Daymak, has announced production on a new electric vehicle that claims to mine crypto while it charges. The car—which will be known as the Avvenire Spiritus—will be ready by 2023 and has already garnered Daymak more than $300 million in pre-sales.

BitMex has partnered with Astrobotic to take Bitcoin to the moon…literally. The mission will send a specially minted physical coin loaded with 1 BTC to the surface of the Moon in the world’s first commercial soft landing there.

And finally, a follow up on the DubaiCoin story we reported last week. The token claiming support of Dubai regulators that surged over 1000% turns out has nothing to do with the city emirate. The city issued a warning to investors, confirming the website promoting it was fake. Be aware of such cryptocurrency scams and continue to do your own research before investing.

That’s what’s happened this week in crypto, see you next week.

Jack Pellington is a seasoned writer with a deep passion for the convergence of technology and finance. He has spent several years covering the latest developments in blockchain, cryptocurrency, and fintech, providing insightful and comprehensive analysis. Jack's work has appeared in numerous esteemed publications and he holds a degree in Financial Economics. Jack is dedicated to educating his readers about the transformative potential of emerging technologies as he takes his work on the road, exploring Europe.

View all Posts by Jack Pellington

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