Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume

Market Wrap: Bitcoin Over $11.7K; Uniswap Passes $500M in Daily Volume
Bitcoin’s price jumped to $11,784 while the top decentralized exchange crossed a half-billion dollars in daily trading volume.

Bitsonar Whistleblower Says Law Enforcement Faked His Murder in Attempt to Protect Him

Bitsonar Whistleblower Says Law Enforcement Faked His Murder in Attempt to Protect Him
A whistleblower from defunct crypto firm Bitsonar has reappeared after going missing f for three days, saying law enforcement faked his kidnapping and death.

US Stock Market Cap to GDP Ratio Reaches 190%, Eclipsing Dot-Com Bubble High

US Stock Market Cap to GDP Ratio Reaches 190%, Eclipsing Dot-Com Bubble High
The booming stock market is driven by perception of the Federal Reserve’s commitment to high prices and growing individual trading, but how sustainable is it?

Yearn, YAM and the Rise of Crypto’s ‘Weird DeFi’ Moment

Yearn, YAM and the Rise of Crypto’s ‘Weird DeFi’ Moment
What do these various memecoins do? Here's the rough TL;DR of the latest tokens to top the DeFi charts.

TeraExchange Reinstated as Swap Execution Facility by CFTC Order

TeraExchange Reinstated as Swap Execution Facility by CFTC Order
The regulatory body deemed the exchange dormant because it had no trading activity in the three years following its registration with the CFTC.

Federal Jury Indicts Three Accused of Posing as Pastors in Alleged $28M Ponzi Scheme

Federal Jury Indicts Three Accused of Posing as Pastors in Alleged $28M Ponzi Scheme
The accused were also charged by the CFTC and the SEC for allegedly soliciting funds from over 1,000 people for the fake forex and bitcoin trading fund.

Venezuelans Look to Crypto Dollars for Financial Security

Venezuelans Look to Crypto Dollars for Financial Security
Crypto-dollars offer an alternative to unreliable currencies and the dangers of holding physical cash. They just need to be designed for everyday people.

Huobi Futures to Launch Options Trading This Week, Joining Throng Challenging Deribit

Huobi Futures to Launch Options Trading This Week, Joining Throng Challenging Deribit
Huobi Futures will offer bitcoin options starting Tuesday, aiming to meet demand from traders for ways to hedge against risks in crypto markets.

Blockchain Bites: Ethereum Classic Attacked, Electrum Wallet Drained and Taxable Microtasks

Blockchain Bites: Ethereum Classic Attacked, Electrum Wallet Drained and Taxable Microtasks
Signature Bank gave out dozens more PPP loans to crypto firms than previously known, Ethereum Classic has suffered another 51% attack and a digital yuan wallet went live and disappeared.

Bitcoin News Roundup for Aug. 31, 2020

Bitcoin News Roundup for Aug. 31, 2020
With bitcoin still lagging behind U.S stocks and additional tax guidance in the U.S., CoinDesk's Markets Daily is back for your latest crypto news roundup!

Robinhood, Other Online Trading Platforms Having Log-in Issues

Robinhood, Other Online Trading Platforms Having Log-in Issues
The reported outages affect Robinhood, Charles Schwab, TD Ameritrade and others.

Five CoinMarketCap Executives Depart Binance-Owned Firm

Five CoinMarketCap Executives Depart Binance-Owned Firm
Binance plans to replace the executives with its own staff.

Coinbase Adds Marc Andreessen as Board Observer, Replacing Chris Dixon

Coinbase Adds Marc Andreessen as Board Observer, Replacing Chris Dixon
The high-profile additions come as Coinbase reportedly eyes a public offering.

Russia’s Crypto Mining Farms Would Have to Report to Government Under Proposed Bill

Russia’s Crypto Mining Farms Would Have to Report to Government Under Proposed Bill
Russian wants all data centers, including mining farms, to report what they do and how they operate. Local experts say that brings risk.

Signature Bank Gave Dozens More PPP Loans to Crypto Firms Than Previously Reported

Signature Bank Gave Dozens More PPP Loans to Crypto Firms Than Previously Reported
Signature Bank gave $20 million in PPP loans to roughly 40 firms in the digital asset space. Only nine loans were revealed in public documents last month.

South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot

South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot
The Bank of Korea is seeking a partner to help develop the architecture for a potential central bank digital currency.

First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry

First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry
Huobi is taking on OKEx in the business of bitcoin futures trading, opening a new front in the ongoing rivalry between the two Chinese-led exchanges.

Meet Torus, the One-Click Blockchain Wallet Trying to Make Web3 as Easy as Chrome

Meet Torus, the One-Click Blockchain Wallet Trying to Make Web3 as Easy as Chrome
Singapore-based Torus Labs has released a Chrome browser extension for its Torus wallet and added a new product called tKey, a custom version of 2FA.

US Stocks Closing on Bigger August Gain Than Bitcoin

US Stocks Closing on Bigger August Gain Than Bitcoin
While bitcoin is eyeing an August gain for the first time in three years, the cryptocurrency is still lagging U.S. stocks over the month.

Someone Just Lost $16M in Bitcoin By Using a Malicious Install of the Electrum Wallet

Someone Just Lost $16M in Bitcoin By Using a Malicious Install of the Electrum Wallet
An Electrum wallet user claims to have lost a fortune in bitcoin after installing an older version of the software from a malicious source.

Huobi and OKEx Battle for Supremacy in China

Huobi and OKEx Battle for Supremacy in China
Cryptocurrency exchange Huobi is taking aim at competitor OKEx in the business of trading bitcoin futures and other derivatives contracts, opening up a new front in a longstanding rivalry that has historically focused on the lucrative Chinese market.

DeFi Is a ‘Complete Scam,’ Says Controversial Entrepreneur Craig Wright

DeFi Is a ‘Complete Scam,’ Says Controversial Entrepreneur Craig Wright
nChain chief scientist Craig Wright has delivered an obscenity-laden interview discussing decentralized finance and stablecoins, calling such projects a "complete scam" and "illegal."

Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo

Cryptocurrency Earned From Carrying Out Microtasks Is Taxable, Says IRS Memo
The U.S. tax department has provided guidance around crypto revenue earned from microtasks via crowdsourcing platforms, and yes, such income is taxable.

Crypto Long & Short: What Changes at the Fed and the SEC Mean for Crypto

Crypto Long & Short: What Changes at the Fed and the SEC Mean for Crypto
Chairman Powell’s speech on Thursday highlighted how much the Fed’s role is changing, and that's an opportunity for the crypto industry.

Maria Bustillos on Tokenizing Journalism, the Death of Civil and Rise of Brick House

Maria Bustillos on Tokenizing Journalism, the Death of Civil and Rise of Brick House
An early supporter of the now defunct blockchain-based Civil is taking another swing at a writer-owned media collective. She hasn't lost faith in blockchain.

The Case for $500,000 Bitcoin

The Case for $500,000 Bitcoin
The Winklevoss brothers make an argument that, in the long run, bitcoin is the only good safe haven.

Ethereum Classic Hit By Third 51% Attack in a Month

Ethereum Classic Hit By Third 51% Attack in a Month
August has been an awful month for Ethereum Classic as the blockchain suffered yet another 51% attack.

Mr. Powell, If You Want Higher Inflation, Give People Money

Mr. Powell, If You Want Higher Inflation, Give People Money
The Federal Reserve wants a little more inflation to keep the economy buoyant. That's hard to achieve when Main Street is so under water.

Oasis Network Announces Chainlink Oracle Integration to Enable Privacy-Focused DeFi Applications

Oasis Network Announces Chainlink Oracle Integration to Enable Privacy-Focused DeFi Applications
Oasis Network, a privacy-centric data-sharing network, said it will integrate Chainlink’s price feeds into its network.

The End of an Era? Why Bitcoin and MMT Won the Week

The End of an Era? Why Bitcoin and MMT Won the Week
Fed Chair Jerome Powell tried to make it seem like the end of an era, but didn’t inspire confidence in the central bank’s ability to lead in the era that comes next.

Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide Attention

Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide Attention
China Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.

Chainlink Acquires Blockchain Oracle Solution From Cornell University

Chainlink Acquires Blockchain Oracle Solution From Cornell University
Chainlink has acquired privacy-focused oracle solution DECO from Cornell University. The data feed system is also drafting a second white paper for the project.

Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi

Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi
Bitcoin made gains Friday, both in price and what's locked in DeFi.

The Anxiety Index: 4 Fear Factors Shaping the Economy

The Anxiety Index: 4 Fear Factors Shaping the Economy
From COVID-19 relapses to election insecurity, these factors drive defensiveness up and demand down.

Blockchain Bites: Winklevoss’ Wild Prediction, Bitcoin Miners’ Horde, Ethereum’s ‘Critical Bug’

Blockchain Bites: Winklevoss’ Wild Prediction, Bitcoin Miners’ Horde, Ethereum’s ‘Critical Bug’
Mongolian authorities have limited cheap electricity for crypto miners, Venezuela is seeing crypto use outside government-approved exchanges and a “critical bug” has left 13% of Ethereum nodes useless.

Money Reimagined: From COVID Generation to Crypto Generation

Money Reimagined: From COVID Generation to Crypto Generation
Millennials and Generation Zers have many reasons to embrace crypto and reform the financial system in their own interests.

Robinhood Taps Former Fidellity, Wells Fargo Execs as Compliance Heads

Robinhood Taps Former Fidellity, Wells Fargo Execs as Compliance Heads
Robinhood announced on Thursday it hired Norm Ashkenas and Kelly Zigatis as chief compliance officers of its Financial and Securities teams.

Bitcoin News Roundup for Aug. 28, 2020

Bitcoin News Roundup for Aug. 28, 2020
With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup!

Fed Chair Powell’s Flexible Inflation Views Were Already Priced In

Fed Chair Powell’s Flexible Inflation Views Were Already Priced In
Federal Reserve Chair Jerome Powell did not raise many eyebrows Thursday morning when he announced the U.S. central bank would encourage some periods of inflation above its 2% target in certain circumstances to boost the long-term economy.

Energy Giant Equinor to Cut Gas Flaring With Bitcoin Mining: Report

Energy Giant Equinor to Cut Gas Flaring With Bitcoin Mining: Report
Equinor will use digital flare mitigation tech from Crusoe Energy at its Bakken oilfield operations in the U.S.

Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives

Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives
Already live on SBI's forex trading platform, the contracts for difference (CFDs) are available in bitcoin, ether and XRP flavors.

First Mover: Binance’s Shrinking Trading Spreads and Bitcoin’s Jackson Hole Fizzle

First Mover: Binance’s Shrinking Trading Spreads and Bitcoin’s Jackson Hole Fizzle
Traders are getting better fills due to shrinking bid-ask spreads on Binance and other cryptocurrency exchanges. It's a sign of a healthy market.

Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets

Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets
Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve's announcement of a more relaxed approach to tackling inflation.

Winklevoss Brothers Say Bitcoin Could Reach $500K as the ‘Only’ Long-Term Inflation Hedge

Winklevoss Brothers Say Bitcoin Could Reach $500K as the ‘Only’ Long-Term Inflation Hedge
"Bitcoin is ... the only known commodity in the universe that has a deterministic and fixed supply," the Winklevoss brothers wrote in a blog post saying the cryptocurrency may one day hit $500,000.

Data Ownership Should Be About Software, Not Lawsuits

Data Ownership Should Be About Software, Not Lawsuits
Andrew Yang's "Data Dividend" and the EU's GDPR are not enough to put users back in control of their data.

Binance’s Bitcoin ‘Bid-Ask Spreads’ Tighten as Cryptocurrency Markets Mature

Binance’s Bitcoin ‘Bid-Ask Spreads’ Tighten as Cryptocurrency Markets Mature
The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets.

DeFi Studio Framework Labs Leaves Stealth Mode With $8M in Seed Funding

DeFi Studio Framework Labs Leaves Stealth Mode With $8M in Seed Funding
Framework Labs says it's already playing a key role in projects including Uniswap and Chainlink.

Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia

Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia
Affected mining centers in the area may see a notable increase in electricity costs.

Coinbase Custody and Bison Trails Expand Integration to Enable Staking of Solana Tokens

Coinbase Custody and Bison Trails Expand Integration to Enable Staking of Solana Tokens
According to the announcement by Bison Trails, this will allow users on Coinbase Custody to stake their Solana (SOL) tokens using secure offline storage.

Buggy Code Release Knocks 13% of Ethereum Nodes Offline

Buggy Code Release Knocks 13% of Ethereum Nodes Offline
Over 1,000 Ethereum nodes will have to resync or find a new client provider after a critical bug in OpenEthereum’s codebase was revealed.