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. So let's get started!
Ripple Unlocks Another 1 Billion XRP from Escrow Wallet
Ripple has just unlocked another 1,000,000,000 XRP ($230M) from its escrow wallet, as it always does at the start of the month.
Traders are bracing for a possible sell-off as Ripple unlocks another 1,000,000,000 XRP ($230M) from its escrow wallet. Although commonly unlocked at the start of the month, the practice has been the subject of persistent criticism every time it happens. The question still remains: why does Ripple need over $200M in funds every month? You can read the full article by clicking here.
Crypto Gets Nod From Aussie Court in Precedent-Setting Case
In a score for Aussies, a judge has green-lighted the use of cryptocurrency such as Bitcoin to secure legal expenses. The case could set a precedent for courts in other jurisdictions to similarly approve cryptocurrency as collateral.
The New South Wales District Court has given the okay to a plaintiff in a defamation lawsuit to use $20,000 worth of cryptocurrency holdings to secure a legal bill. [Australian Associated Press] The funds will cover the defendant’s legal expenses should the plaintiff lose or drop the complaint, a decision that was made in response to a demand for the plaintiff to earmark the funds in an escrow-type account controlled by the courts. You can read the full article by clicking here.
Binance Integrates with a Bank for the First Time Ever
Binance has, for the first time, collaborated with a bank that will be merging its services with the exchange. In an announcement made earlier today, the exchange unveiled it would be integrating with Akbank. Akbank is among the leading banks in Turkey. Akbank will be processing fiat deposits and withdrawals for Binance’s Turkish customers. Using the Turkish Lira to buy cryptocurrencies on the exchange will now be much easier. Both the desktop and iOS App will be supporting fiat deposits and withdrawals with the help of Akbank. You can read the full article by clicking here.
Bitcoin Whales on the Move: $414M in BTC Transferred for Mere $0.68 Fee
Whales are moving their funds again on the Bitcoin network. A whopping 47,452 BTC ($414 million) was just withdrawn from Bittrex for a measly fee of $0.68. Major sums of money are being moved around yet again on the Bitcoin (BTC) network, showcasing just how cheap it is to transfer BTC.
47,452 BTC ($414M) was just withdrawn from Bittrex. The fresh recipient address quickly moved the funds to another address. The total fee for the withdrawal was a small fee of just $0.68, which has become the ‘new normal’ on Bitcoin’s network. You can read the rest of the update by clicking here.
Huobi Mints Another $1.3M HUSD as Stablecoin War Heats Up
Cryptocurrency exchange Huobi has been aggressively trying to jump into the stablecoin race. Another 1,300,000 Huobi USD (HUSD) has just been minted. Although Tether (USDT) is by far the largest stablecoin, competitors are increasingly vying for a bigger piece of market share. Exchanges are also getting involved, as Huobi ramps up HUSD issuance. To read the full article, click here.
Antminer E3 Stops Ethereum Classic Mining, Will Stop ETH Next Month
The Antminer E3 has stopped mining Ethereum Classic (ETC) and will cease mining Ethereum (ETH) by next month. In less than a month, Ethereum Classic’s hash rate has dropped by almost half. Many miners are dropping out of the network, especially those who run the Antminer E3. The Antminer E3 mining rig is the first and only mining device on an Ethash algorithm ASIC. First released in the summer of 2018, the miner has been popular for some time — albeit pricey. Last week users reported difficulty mining with the Antminer E3 which may mark its end. You can read the full article 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!
