AMAZON MAY SOON ALLOW USERS TO PAY IN CRYPTOCURRENCIES MAINLY BITCOIN

July 26, 2021

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TL:DR

Good Morning, everyone! This is our second newsletter giving you a weekly overview of crypto-news from across the globe.

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Here is the top crypto-news from last week.

MARKETS

▲ Bitcoin

$34,379.77

+8.63%

▲ Ethereum

$2,155.37

+13.41%

▲ Cardano

$1.21

+1.91%

▲ Litecoin

$124.59

+4.38%

▲ Stellar

$0.26

+12.81%

*Cryptocurrency data as of Sunday at 4:00pm PST.

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Weekly Review

Last week’s market perfomance

The last man standing? Bitcoin falls below $30,000 for the first time in July but not for long. Currently, Bitcoin is surviving around $33,000. Other coins, mainly Dogecoin has lost 80% of its gains which it did after Elon Musk’s appearance on Saturday Night Live. Do you think it’ll recover?

Technology

Tesla will ‘likely’ restart accepting Bitcoin as payments, says Musk’

Talking about Elon Musk, in a recent announcement, according to the founder and CEO of Tesla Motors: the company will soon accept Bitcoins as a payment method. However, this comes with a condition as we’ve seen earlier when Musk stated Bitcoin mining needs to be through clean energy. Musk says after conducting “due diligence” on the amount of renewable energy used to mine Bitcoin. If the results are satisfactory and not harmful to the environment, Tesla will once again accept Bitcoin. Right after this statement, Bitcoin went up 8%.

TRIVIA

What gambling term is given to an individual or entity that hold large amount of a coin and can manipulate the market?

A. Bossman B. Whale C. Ponomoly D. Fat Cat

Answer Below.

World Policy

South Korea announces a deadline on unregistered Crypto exchanges

It does not appear that the South Korean government is joking about its crackdown on crypto exchanges. As we mentioned about the crackdown in our last week’s newsletter, Korean officials seem to be more serious than previously thought. 24th of September 2021 is the last date for crypto exchanges to register with a Bank based in Korea. Failure to do so will result in ultimate blockage of that exchange’s operations in the country.

Finance

New Jersey’s Pension fund invested $7M in Bitcoin Mining during the Q2 of 2021

The US is seeing a surge in crypto mining and this news tells you how seriously the country is taking this shift. New Jersey’s Common Pension Fund D has about $30 billion in its total assets. Although there is no news about how successful the experiment has been, other state-run pension schemes namely California is also warming up to the idea of investing in Bitcoin mining, this seems to be successful so far.

Finance

Central Banks of both Nigeria and India are looking into Bank issued digital currency

The Central Bank of Nigeria and Reserve Bank of India, both are looking to introduce a digital currency in a “phased introduction” method where they will test its success within a limited population. If it’s found to be successful, who knows both the countries might eventually launch it for the entire populace? This will give subsequent rise to stablecoins all around the world.

Coin Market Calendar

Date	Project	Website
07/26	DinoX	$DNXC
07/26	DeRace	$DERC
07/26	CoinBurp	$BURP
07/27	Polkaplay	$POLO

Connect to our shareable calendar here.

Finance

Crypto lender Celsius confirms $54M investment in miner core scientific

According to the CEO Alex Mashinsky of Celsius, his company is to invest $54 million in Bitcoin miners known as Core Scientific, a company that mainly specializes in crypto mining. CEO states the investment as “good for our community, because they [Core] have a lot of assets, therefore that’s safer than just investing in a DeFi project”. This comes as great news where China is going against crypto mining, other’s like Celsius are actively investing in crypto mining projects.

Closing

Amazon may soon allow users to pay in cryptocurrencies mainly Bitcoin

This week finally ended with the news of Amazon accepting Bitcoin?

Of course, quite clearly, someone else has also gotten the attention of cryptocurrencies, and this time it’s Amazon, the world’s biggest and most well-known e-commerce platform. As of now, Amazon does not accept cryptocurrencies as a form of payment however according to one of the latest job listings on Amazon’s Payments Acceptance & Experience team, they’re seeking developers who can develop Amazon’s digital currency along with Blockchain strategy.

What do you think will happen next if Amazon starts accepting cryptocurrencies as a method of payment? Do you think more tech giants will follow?

TRIVIA ANSWER

B. Whale

Individuals or institutions who hold large amounts of coins of a certain cryptocurrency are known as whales in the crypto world. As they hold large amounts of coins, they become powerful enough to manipulate the valuation of the specific cryptocurrency.