Weekly Crypto News Roundup - 24th of May - 31st of May

Weekly Crypto News Roundup - 24th of May - 31st of May

By pheonixdown-dee | Crypto 101 | 31 May 2020

Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto

BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!


Craig Wright Petitions Court to Keep List of Bitcoin Addresses Sealed


Craig S. Wright’s (CSW) legal team is looking to prevent further public embarrassment by asking the court not to reveal Bitcoin (BTC) addresses allegedly belonging to their client. According to Stephen Palley, a partner at Washington-based law firm Anderson Kill, CSW’s legal team filed a motion with the court to keep Wright’s listed Bitcoin addresses secret. What do you think about this? You can read the full article by clicking here.


Coinbase to Retroactively Airdrop OmiseGo Tokens to Ethereum Holders


Coinbase is about to airdrop OmiseGo tokens to its customers that have stored Ethereum in their wallets for the last three years. The news of this airdrop came to light when Twitter user Jordan Spence (@spencecoin) shared a message that he received from Coinbase. The message explained, since he had stored Ethereum in his account in the preliminary distribution and airdrop of OMG, he would be retroactively awarded the tokens. To read the full article, click here.


India’s Central Bank Denies Prohibiting Financial Institutions from Servicing Cryptocurrency Exchanges


Indian commercial banks refusing services to local cryptocurrency exchanges may soon have a case to answer following a recent clarification offered by its central bank. Tweeting on Sunday, Indian crypto insider Crypto Kanoon (@cryptokanoon) published a document released by the Reserve Bank of India (RBI) stating that no prohibitions against banks servicing crypto-businesses exist. To read the full article, click here.


Grayscale has Bought More Bitcoin than has Been Mined Since Halving


Institutional interest in Bitcoin is increasing, so much so that major firms are buying up the asset at unprecedented rates. Grayscale has been aggressive on BTC acquisition since the halving. The investment firm has purchased 18,910 bitcoins over the past couple of weeks. Grayscale’s Bitcoin Trust represents one of the industry’s largest institutionally targeted funds. It allows investors to gain exposure to BTC without having to buy the actual asset. To read the full article, click here.


Bitcoin 401(K) Plans Introduced by Gemini-Partnered Payroll Service Provider


Crypto payroll services provider Bitwage has unveiled the world’s first Bitcoin 401(k) plan. The company partnered with Gemini on the product which will accept both traditional and Roth 401(k) plans. Announcing the product through a blog post, Bitwage’s CEO Jonathan Chester revealed that his company has been testing the product for 10 months now. Companies that use the product will allow their employees to invest both traditional and Roth 401(k) plans into Bitcoin. What do you think about this? Click here to read the full article.


Crypto Exchange Gemini Makes Its Way to Samsung’s Blockchain Wallet


More than 4 million Samsung smartphone users in the U.S. and Canadian markets will soon be able to buy cryptocurrencies directly from their devices. Gemini, the U.S. crypto exchange platform owned by the Winklevoss twins, has announced its integration with Samsung’s blockchain wallet. The Korea-based tech behemoth first introduced a crypto wallet feature in its Galaxy S10 phone brand.n To read the full article, click here.


50% of Bitcoin Active Supply Has Not Moved in 1 Year


Bitcoin (BTC) HODLing continues to increase with more ‘coin’ owners seemingly subscribing to the safe-haven asset narrative for the largest cryptocurrency by market capitalization. Coin Metrics revealed that Bitcoin’s one-year HODL Factor is at an all-time high of above 50%. This metric means that more than half of the Bitcoin active supply has not moved in over a year.

Are you part of the hodl gang? Click here to read the full article.


Coinbase Set to Acquire Cryptocurrency Brokerage Tagomi


Cryptocurrency exchange Coinbase announced Tuesday that it would be acquiring Tagomi, a crypto-focused brokerage. The acquisition was announced via the company blog and Twitter. Coinbase has been seeking to expand its institutional-level trading suite. Tagomi’s brokerage model fits well with its business plan. The addition of custody, professional trading features, and prime brokerage will, per the announcement, round out the institutional platform. To read the full article, click here.


Goldman Sachs Says Bitcoin ‘Not Suitable Investment’ in Hyped Client Call


Despite recent hype, it doesn’t look like Goldman Sachs will be recommending Bitcoin to clients anytime soon. According to early reports, the global investment bank said that the cryptocurrency is “not an asset class” and “not a suitable investment.” The news comes courtesy of Digital Currency Group founder and CEO Barry Silbert, who claimed via Twitter to have seen slides from the meeting held recently. Rather than celebrate the role of Bitcoin in an economy where mid-term high inflation is a given, the bank appears to have dismissed the cryptocurrency entirely. To read the full article, click here.



Facebook Rebrands Libra Digital Wallet as ‘Novi’


Social networking giant Facebook has just announced a rebrand of the digital wallet service it intends to use with its forthcoming Libra digital currency. The wallet, previously called ‘Calibra,’ is now known as ‘Novi.’

Facebook says the new name is taken from the Latin words ‘Novus’ and ‘via,’ meaning ‘new’ and ‘way’ respectively. To read the full article, click here.


That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!


I am a social media manager living in Prague. I am an avid crypto enthusiast.

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