BitDigest September 3 · Issue #735
- Crypto prices slide yesterday in late morning trading
- Senate Banking Committee wants clearer regulations for national banks to use digital currencies and blockchain for payments
- Congressional leaders ask Trump Administration to use blockchain technology to support COVID-19 assistance programs
Weekly Stock Review
Highlights from the North American listed crypto, blockchain and mining stocks:
- Hive Blockchain Technologies (TSX: HIVE.V) is the top performing stock this week posting a 9.4% return.
- Canaan (NASDAQ: CAN) reported Q2 revenue of $25 million, down 26% year-over-year.
- Hut 8 Mining Corp (TSX: HUT) announced that it has formally taken over site management at its Drumheller, AB operation from the Bitfury Group.
- The premium to NAV for the Grayscale Ethereum Trust (OTCQX: ETHE) has continued to decline and is now just under 33%, falling 59% compared to last week.
- Although the Grayscale Litecoin Trust (OTCQX: LTCN) posted the same price as last week, its net asset value declined slightly boosting its premium to NAV to 674%
- The Grayscale Bitcoin Cash Trust (OTCQX: BCHG) is the worst performer falling 26%.
The Headlines
Senate Banking Committee Wants Clarity on Crypto for National Banks
Congressional Blockchain Caucus Calls on Trump Administration to Use Blockchain in COVID-19 Response
Russian Ministry Wants to Add Provision to Crypto Law
Zug to Accept Tax Payment in Crypto
DOJ Looking to Seize $392 Million from OneCoin Attorney
Calexit Plans to Develop Digital Currency
CFTC Approves LedgerX's Activities Outside of Crypto
Sygnum Gets Approval to Trade Tokenized Assets
MetaMask Releases Mobile Application
Crypto Leaders Grace Fortune's 40 Under 40
Chamber of Digital Commerce Hosting Blockchain Debate
Market Data
DeFi Value Up 700% Over 90 Days
KryptoCibule Malware Targeting Windows Users
Exchange, Custody and Product News
Revolut Adds Crypto Trading for Australians, and Bitcoin Cash and Litecoin Support for US Customers
Thoughts on the Ecosystem
EFF Wants Transparency on Government Inquiries from Coinbase
Reports you may have missed
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Tether Outlines New Organizational Structure, Aptos Partners with Microsoft, Brevan Howard, and SK Telecom
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Equities and crypto assets are selling off in tandem today as inflation and geopolitical fears have spooked risk assets. The SPY and QQQ have decreased by 0.46% and 0.92%, respectively, while crypto is selling off more aggressively. $BTC (-5.49%) has tested the high $59,000s and $ETH (-4.42%) is trading below $3,000. Among a sea of red, $SUI is showing relative strength, gaining 6.44% on the back of a partnership announcement with...
Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...
