BitDigest September 9 · Issue #738

Sep 9, 2020
  • Support returning to bitcoin with sell off in DeFi and ether (ETH)
  • Swift admits that fiat currencies are in much greater use for money laundering than crypto
  • DCG acquires retail focused digital currency exchange and wallet
BitDigest September 9 · Issue #738

The Headlines

BitDigest September 9 · Issue #738

Crypto's Use in Money Laundering Still 'Relatively Small'
A SWIFT research report on cyber crime finds that cases of theft and laundering through digital currencies “remain[s] relatively small compared to the volumes of cash laundered through traditional methods’” but the use of mixers and tumblers could “could boost the appeal of cryptocurrency for nefarious purposes.”
BitDigest September 9 · Issue #738

Bangladesh’s Getting Blockchain-based Cross Border Remittance
Bangladesh is getting its first blockchain-based remittance service facilitating instant transfers from Malaysia through a partnership led by Standard Chartered Bank and bKash, the largest mobile financial service provider in the country.
BitDigest September 9 · Issue #738

Ukraine Sees Greatest Global Adoption in Crypto
According to Chainalysis’ 2020 Geography of Cryptocurrency Report, the Ukraine, Russia and Venezuela lead the world in crypto adoption.
BitDigest September 9 · Issue #738

DCG Acquires Luno
Digital Currency Group (DCG) announced the acquisition of Luno, a retail focused digital currency exchange and wallet – will operate as independent subsidiary.
BitDigest September 9 · Issue #738

Canaan Announces US$10 Million Share Buy-Back Program
Chinese crypto mining manufacturer Canaan (NASDAQ: CAN) has authorized a 12-month share repurchase program uof up to US$10 million worth of its outstanding American depositary shares.
BitDigest September 9 · Issue #738

Brave Adds Anti-Phishing Solution
The Brave browser had added PhishFort’s anti-phishing solution for its in-browser Crypto Wallet to warn users of suspicious activity.

Market Data

BitDigest September 9 · Issue #738

DeFi Lock's Drop
The analytics + rankings hub for DeFi. DeFi Pulse tracks key metrics for Decentralized Finance(DeFi) projects and so you can stay up to date on the latest trends.
BitDigest September 9 · Issue #738

Bitcoin Hashrate Hits New High
With sentiment weakening among crypto investors, miners are moving back to bitcoin (BTC) as its hashrate reached a new all-time-high of 146.617 Ehash/s before pulling back 1.4% over the past 24-hours.
BitDigest September 9 · Issue #738

Crypto Derivative Value Increased Over 50% in August
CryptoCompare’s August Exchange Review found that top-tier volumes increased 58% to $529 billion in August as derivative volume increased 53% to over $700 billion – CME’s crypto derivatives volumes have increased 55.7% in line with many unregulated derivatives competitors to reach $12.02bn.
BitDigest September 9 · Issue #738

Bitcoin – Gold Correlation Hit High in August
Kraken issued its monthly volatility report for August reporting that bitcoin’s correlation to gold hit an all-time high of 0.97 before dropping to 0.25, as bitcoin had its weakest monthly positive return since 2017.

Exchange, Custody and Product News

BitDigest September 9 · Issue #738

Gemini Adding Flexa's AMP
Gemini is adding support for trading and custody of AMP, a digital collateral token for the Flexa network

Thoughts on the Ecosystem

BitDigest September 9 · Issue #738

Euro Could be Overtaken by Digital Yuan
dGen, an independent non-profit research institute focusing on blockchain technology in a decentralized future, released a new report on central bank digital currencies suggesting that a digital yuan will not unseat the USD, but rather the EURO is at threat to be overtaken, and while three to give nations globally will completely replace their currency with a CBDC by the end of the decade, small nations will switch to the digital dollar..
BitDigest September 9 · Issue #738

Investors Turning to Bitcoin in Response to Central Bank Printing Press
Morgan Stanley’s Head of Emerging Markets Ruchir Sharma is recommending investors look to commodity stocks for a longer 3 – 5 year period; he believes that investing in digital currencies is a generation view on store of value investments and a search for alternative assets in response to the central bank printing press.

Reports you may have missed

CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -0.69% TESTING THE $65K LEVEL, ETH -1.62% TRADING AROUND $3500, AND SOL -3.57% APPROACHING $140. The ETHBTC ratio is declining again after a weekend relief rally sparked by news from Bloomberg ETF expert Eric Balchunas on Friday evening, clarifying his timeline for the ETH ETF launch. Meanwhile, the DXY continues its upward trajectory from the post-CPI selloff,...

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