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.
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!