PAYPAL TO LAUNCH CRYPTO TRADING IN THE UK VERY SOON

August 2, 2021

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TL:DR

Happy Monday, everyone! This is our second newsletter giving you a weekly overview of crypto-news from across the globe. If you’re not clear as to who we are, what our mission is, this simple link will help you answer all your questions about who we are. If you happen to like what we’re doing, please don’t forget to share this newsletter with your friends and social circles.

Here is the top crypto-news from last week.

MARKETS

▲ Bitcoin

$41,237.97

+19.77%

▲ Ethereum

$2,668.06

+23.83%

▲ Cardano

$1.35

+11.83%

▲ Litecoin

$146.17

+17.04%

▲ Stellar

$0.29

+12.39%

*Cryptocurrency data as of Sunday at 2:00pm PST.

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Weekly Review

Last week’s market perfomance

Is the bear market finally coming to an end? Perhaps yes. This week we’ve observed some increase in the overall crypto market, and the good news is: Bitcoin jumped above $40,000 as it finally sees a 30% increase.

Technology

Paypal to launch crypto trading in the UK

Described as “a useless payment system, and ridiculous store of value” back in 2018, as now much has changed. The new CEO of Paypal Mr. Dan Schulman wants to change how Paypal functions and he’s for Paypal to provide crypto trading services. However, Paypal will test this service in limited countries including the United Kingdom. If everything goes according to the plan, the feature will be opened for other users.

TRIVIA

Which was the first city in the world to install a Bitcoin cash machine, aka, ATM?

A. Vancouver B. Los Angeles C. Miami D. Tokyo

Answer Below.

World Policy

China’s central bank says it will keep pressure on the crypto market

By now it’s quite clear: the Chinese Communist Party doesn’t want cryptocurrencies to operate on their soil, as we’ve seen this week China’s central bank has made it clear that they’ll keep on with the crackdown until there are no crypto-miners left in the country. This, of course, is not good news for the crypto market as currently, 46.04% of Bitcoin mining comes from China.

Finance

Australian lending startup loda gets $15M to further crypto collateralization efforts

Loda, an Australian startup that is famous for accepting cryptocurrencies as collateral completes its first liquidity pool through the help of investors from around the world. Good news for Loda, as due to the success this startup has provided, it seeks another round of investors which altogether invests $15 million in the startup. This suggests there is an increased interest within investors in cryptocurrencies.

World Policy

Germany to allow institutional funds to hold up 20% of crypto

Coming to Germany, this week the country plans to allow a different number of institutional funds to invest billions of dollars within crypto assets. These institutional funds comprise mainly pension funds. Furthermore, the country has a rule as no fund is allowed to invest more than 20% of their holdings in Bitcoin or other crypto assets.

Coin Market Calendar

Date	Project	Website
08/02	EQIFI	$EQX
08/04	Gamestarter	$GAME
08/05	Bright Union	$BRIGHT
08/05	Lithium	$LITH
08/07	Port Finance	$PORT
08/07	Ethereum Eagle	$EGL

Connect to our shareable calendar here.

Technology

The number of crypto users doubles in 6 months

According to research published by crypto.com which has about 220 million crypto users, the research suggests the total number of crypto users has doubled within the past 6 months despite the Chinese state-led crackdown. While the research paper doesn’t mention the cause behind this increase but many believe this is because of the gains we’ve seen this year.

Closing

Tesla did not buy or sell Bitcoin in Q2

Looks like the King of Crypto was serious about Bitcoin, as we saw Elon Musk did not allow the company to accept payments in Bitcoin or invest in it. Musk’s main concern was that Bitcoin mining is unsustainable, so unless the mining is done with the help of renewable energy such as solar, hydro, and wind power, he will not allow Tesla to accept Bitcoin because, the cost is just so high. This week there certainly has been some hustle and bustle within the crypto-market. Let us know if you think Bitcoin will $50,000 in the coming days. See you next week!

TRIVIA ANSWER

A. Vancouver On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada. This machine is understood to be the world’s first publicly available Bitcoin ATM.