BitDigest August 11 · Issue #718

Aug 11, 2020
  • Crypto pricing holding as bitcoin and ether struggle to break resistance at $12,000 and $400 levels
  • Ireland plans to approve a new anti-money laundering bill that will require new regulations for crypto service providers
  • Facebook has introduced an internal payment’s initiative that will place all payment applications under the direction of Libra’s David Marcus
BitDigest August 11 · Issue #718

Crypto Fear and Greed Index

The Fear & Greed Index for bitcoin and other large cryptocurrencies has reached its highest level in 13 months, gaining 12 points this week.

BitDigest August 11 · Issue #718

The Headlines

BitDigest August 11 · Issue #718

Ireland Finalizing Bill Following EU Money Laundering Directive

www.irishexaminer.com
Ireland’s cabinet plans to publish the Money Laundering and Terrorist Financing Amendment Bill 2020 that will install new tougher regulations on virtual currency providers and entities supporting online wallets.
BitDigest August 11 · Issue #718

Russia Developing Crypto Analytics System

www.cointelegraph.com
Russia’s Federal Financial Monitoring Service, a federal service combating money laundering and terrorist financing, is developing a new cryptocurrency analytics tool to trace digital currencies and identify crypto services using artificial intelligence.
BitDigest August 11 · Issue #718

Australia Working With Rugby League on Blockchain Authenticity Platform

www.nrl.com
Australia’s government is working with the country’s National Rugby League (NRL) to develop a blockchain-based ‘trust badge’ that would verify official websites and ensure the authenticity of NRL branded merchandise.
BitDigest August 11 · Issue #718

Facebook Announced New Payments Initiative Led by Libra's David Marcus

www.bloomberg.com
Libra co-creator David Marcus has been selected to lead a new Facebook initiative, internally called “F2” (short for Facebook Financial), that will pursue payments and commerce opportunities and run all payments projects, including Facebook Pay, the company’s universal payments feature that it plans to build inside all of its apps.
BitDigest August 11 · Issue #718

Mitsubishi Launching Supply Chain Platform

www.prnewswire.com
The precious metals and minerals trading subsidiary of Mitsubishi Corporation is launching a blockchain-based platform for supply chain management and finance to securely share invoices and confirmations between counterparties.
BitDigest August 11 · Issue #718

Grayscale New Ad Calls Viewers to "Go Digital"

www.twitter.com
Grayscale Investments has released a new 30 second national media ad highlighting the history of money and value, and telling investors to “go digital.”
BitDigest August 11 · Issue #718

CZ Blocked from Investing in Union Bank

www.theblockcrypto.com
Liechtenstein’s Financial Market Authority has reportedly rejected an application Union Bank AG to allow Binance CEO Changpeng Zhao (“CZ”) to become a major shareholder of the locally based entity resulting in a shareholder meeting to voluntarily liquidate the financial entity.

Market Data

BitDigest August 11 · Issue #718

Bitcoin Flows Dropping

www.markets.chainalysis.com
Although bitcoin traded at the highest level in over 365 days yesterday, total bitcoin flows – the transfer of assets on the blockchain – are at two-month lows signaling a buyers market.
BitDigest August 11 · Issue #718

Kraken Releases July 2020 Bitcoin Volatility Report

www.blog.kraken.com
Kraken has published their latest monthly Bitcoin Volatility Report suggesting that signals are pointing to higher volatility and prices in the months ahead as bitcoin unlocks new levels of support above the $11,000 level following a period of lower volatility.

Exchange, Custody and Product News

BitDigest August 11 · Issue #718

Binance Launches New Perpetual Futures Contracts

www.binance.com
Binance has launched new Perpetual Futures contracts that can be margined with bitcoin and leverage up to 125x.

Reports you may have missed

Crypto markets are declining following news that most of the SEC’s lawsuit against Coinbase will proceed (more below). BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind...

Following the worst week of ETF flows since inception, BTC (+3.89%) is rebounding, rising to $69.6k, and ETH (+4.09%) has reclaimed the $3,500 mark. Last week’s outflows totaled $888 million, representing about a fifth of the inflows seen in the previous two weeks. ONDO, an institutional RWA protocol, is one of the top performers today, rising 7.61% as investors remain optimistic about the future of tokenized assets and their ability...

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