What keeps this whole crypto space exciting? There is not a single boring week. We have been tracking this space since 2017 and we are yet to find a boring week in Crypto.
Whether it is filled with FOMO or FUD, there is always excitement of sorts. Let’s see what’s happening this week.
US Senate Banking Committee held a hearing on digital dollar
China’s digital yuan race is pushing the US to rethink its digital dollar timeline. Senator Tom Cotton (R-Ark.) stated, “The U.S. needs a digital dollar…The U.S. dollar has to keep earning that place in the global payments system. It has to be better than bitcoin … it has to be better than a digital yuan.” While Facebook’s Libra is taking center stage of discussion whenever stable-coins are brought up in front of congress, the emphasis during this hearing was to develop a digital dollar controlled by the government and better than existing stable-coins.
NYDIG discloses $190 Million Fund
“New York Digital Investment Group (NYDIG) today disclosed, in an SEC filing that it closed a $190 million bitcoin fund. The NYDIG Institutional Bitcoin Fund LP, reports that it has 24 unnamed investors and is exempt under Rule 506(b) of the Regulation D safe harbor protections established in 2013,” according to Forbes. This is quite bullish considering that NYDIG also had a similar fund worth $140 Million last month.
You can buy Bitcoin at 3500 Post Offices in Australia
Australians can now buy Bitcoin at any of its 3500 Post Offices across Australia. Thanks to the partnership of Australia Post with Bitcoin.com.au, Australians can now simply use cash or EFTPOS payments for digital currencies. “Our mission is to make Bitcoin safe and easy for every Australian”, says Holger Arians, CEO of Bitcoin.com.au, “for many people, paying for Bitcoin at an Australia Post office feels safer than transferring funds online—particularly for first-time buyers. We’re proud of this partnership and would like to thank Australia Post for their continued openness to new technologies.” This is a tremendous news in the broader Bitcoin movement as this helps Australians to access Bitcoin directly without having to transfer money online or having to open accounts with random exchanges.
Visa partners with Bitcoin startup Zap
Zap, a bitcoin startup, is building a product called Strike that enables bitcoin lightning payments without needing users to set up a bitcoin wallet. Visa is now partnering with Zap to bring the lightning fast payments on Strike platform through Visa. Visa has been aggressively partnering with companies in the crypto space. It even filed for a patent in the cryptocurrency payment system.
We have been tracking the most important news in blockchain and crypto space since 2017. You can check out all the chronicled news here.
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