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Bitcoin News Summary – May 20, 2019

Alexander Reed
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Alexander Reed
Last updated on:
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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.  

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital. 99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.
Alexander Reed
Alexander Reed

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... Read More

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One thought on "1 on "Bitcoin News Summary – May 20, 2019"

  1. 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!

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