Hello Hive Fam!
I'm back with another Fintech Flash, where I go over the biggest news happening in fintech and blockchain over the last week.
Here's what was covered in Episode 7!
Bitcoin Price remains Stable Despite BitMEX Arrests and Trump's COVID Diagnosis. the charges of money-laundering against derivatives giant BitMEX and Trump’s positive COVID test do not appear to have had a significant impact on Bitcoin’s price.
More on Bitmex, The United States Commodity Futures Trading Commission, or CFTC, Charged the Crypto Exchange with operating an unregistered trading platform and violating Anti-Money Laundering regulations .According to a statement released Thursday, the CFTC filed a civil enforcement action against five entities and three individuals who allegedly own and operate the exchange.
Stablecoin Supply Doubles in 3 Months as Combined Market Cap Surpasses $20B. While tether still dominates the stablecoin ranks, USDC has been moving closer toward the top ten crypto coins. USDC is also the only stablecoin besides tether with market capitalization greater than $1 billion dollars.
Decentralized Exchange Volume Rose 103% in September to Record $23.6 billion dollars. This is the third consecutive month of doubling the trading volume from the previous month after a 160% rise in August, according to Dune Analytics. Even though aggregate volume set a new record, only a few decentralized exchanges reported individual growth. Trading volume on only three platforms – Curve, Uniswap, and 0x – grew by more than 50% since August.
The SEC Is Willing to ‘Try’ a Tokenized ETF, according to it’s Chairman Jay Clayton. Though the US Securities and Exchange Commission has struggled to keep up with the pace of innovation in the decentralized finance space, Clayton recently stated that “It may very well be the case that [...stocks] all become tokenized.”
Bitcoin use rises in Egypt amidst economic recession. As the COVID-19 pandemic pushed the Egyptian economy into recession and deepening unemployment, more and more Egyptians see the benefits of trading and mining Bitcoin as an alternative source of income. Despite the rise in popularity, many are concerned that people could be targeted and accused of fraud without proper legislation. A law clarifying what activities can be considered legal or not around cryptocurrencies could come soon, according to experts.
Hope you enjoyed it and i'll be back next weekend for another Fintech ⚡️Flash!
▶️ 3Speak
