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The U.S. Postal Service filed a blockchain-related patent that may streamline voting by mail. … [+]
CRYPTO MARKETS
Bitcoin’s rally met some resistance this week because it plateaued underneath $12,000 after a 30% rise in July and early August. A quick bug on the Binance exchange final week confirmed the futures price all of the sudden showing a lot increased, as much as $100,000. “Another day in crypto,” Binance CEO Changpeng Zhao mentioned, including {that a} consumer’s algorithm went “ballistic” to trigger the spike.
In altcoin information, chainlink doubled in value this week at its peak to turn into the fifth-largest cryptocurrency on this planet by market cap, overtaking bitcoin cash.
Supply: Messari. Costs as of 4:00 p.m. on August 14, 2020.
VOTING ON A BLOCKCHAIN?
With the U.S. Postal Service on the forefront of the information because the prospect of mail-in voting has turn into a political flashpoint, the U.S. Patent and Trademark workplace revealed that the USPS filed a patent in February for a system “that may use the safety of blockchain and the mail to supply a dependable voting system.” The system would give voters a code within the mail to retailer their poll data whereas making certain anonymity.
IRS CRACKS DOWN ON TERROR
The U.S. Justice Division introduced that the IRS seized hundreds of thousands of {dollars} worth of bitcoin tied to ISIS, al-Qaeda and the al-Qassam Brigades, the armed department of Hamas. The IRS legal investigations unit used undercover brokers to reveal cash laundering schemes after the terrorist teams known as for bitcoin donations on social media.
Don Fort, the legal investigation chief for the IRS mentioned the seizures “immediately prevents them from wreaking havoc all through the world.”
INSTITUTIONAL BULLS
Greater than 20 establishments have filed paperwork exhibiting they’ve invested within the Grayscale Bitcoin Belief, a helpful proxy for institutional curiosity in cryptocurrency. The agency with essentially the most disclosed holdings of GBTC is $4.5 billion mutual fund Ark Make investments.
Goldman Sachs
MORE ENTERPRISE ADOPTION
Crypto custodian Anchorage is additional blurring the traces between conventional finance and cryptocurrencies, teaming up with safety platform Tokensoft to permit traders to hand custody of safety tokens on to Anchorage once they’re purchased. Sometimes, customers must initially preserve custody themselves, however the brand new expertise is extra in keeping with regular investing.
Additionally, right here’s why blockchain could possibly be the key sauce essential to propel 5G web adoption ahead.
BLOCKCHAIN BALLERS
Dapper Labs, the creator of CryptoKitties, is launching a blockchain-powered digital buying and selling card product known as High Shot that may bundle NBA-licensed participant stats and highlights onto digital “cards.” Customers should purchase, promote and commerce playing cards of their favourite gamers on Dapper’s app. To coincide with the launch, Dapper introduced a $12 million funding spherical, with investments from a number of NBA gamers.
ELSEWHERE
Jay-Z, Charles Schwab-Backed Ethereum App Opens Doorways to Public [Bloomberg]
Coinbase to Supply Bitcoin-Backed Loans to US Prospects [Fintech Zoom]
Why Grayscale’s New Digital Foreign money Advert Might Deliver Crypto Investing To Hundreds of thousands [Fintech Zoom]
