Digital Assets Report 39

Business

China’s top regulators ban crypto trading and mining, sending bitcoin tumbling
China’s most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.
Explained: What’s New in China’s Crackdown on Cryptocurrency and Its Impact
China’s most powerful regulators have intensified the country’s crackdown on cryptocurrencies with a blanket ban on all crypto transactions and crypto mining.
Uniswap (UNI) gains nearly 50% in 24 hours as China’s latest crypto purge boosts DEX tokens
The DEX index containing Uniswap and other 60 assets was up 10.27% in the previous 24 hours as of noon Monday.
Derivatives DEX dYdX beats out Coinbase’s spot markets by volume amid China FUD
Trade activity on popular derivatives DEX dYdX has surged by more than 19,000% over the past 6 months.
Twitter to Add Bitcoin Lightning Tips, NFT Authentication
Tipping, including with bitcoin, will be live on iOS immediately.
Swiss markets watchdog approves first crypto assets fund
Switzerland’s financial markets supervisor said on Wednesday it had approved the country’s first fund that invests primarily in crypto assets. The Crypto...
Morgan Stanley doubles exposure to Bitcoin through Grayscale shares
The Morgan Stanley Europe Opportunity Fund owned 58,116 shares of the Grayscale Bitcoin Trust as of July 31, making the investment bank’s exposure to BTC roughly $2 million.
BitPay and Verifone Partner to Exclusively Enable Cryptocurrency Acceptance on Payment Terminals and In-App/eCommerce
BitPay’s blockchain payment technology enables consumer crypto payments on Verifone’s in-store and eCommerce Cloud Services platforms in the US.
Cardano’s Alonzo hard fork was a success but real utility could be a while
Cardano is one of the most actively developed blockchains out there, with the highest average monthly commits per month on Github code repositories.
Tajikistan Bank Partners with Fantom to Build CBDC Solution
NEW YORK, September 27, 2021--The Fantom Foundation announced that it has signed a Memorandum of Understanding with the OJSC Orienbank, one of the largest...
Facebook announces $50M investment fund tasked with developing its virtual metaverse
Facebook has committed funding to commence developing the foundation of its virtual metaverse.
DeFi Platform Vee Finance Exploited for $35M on Avalanche Blockchain
The DeFi platform recently launched its mainnet on Avalanche, a DeFi exchange last week. The loss came after an attack was launched on the Avalanche platform.
Revolut to Launch Crypto Token: Sources
The timing is subject to approval from U.K. regulators, according to one of the sources.
1.6 Million Salvadorans Now Using Bitcoin Chivo Wallet
El Salvador President Nayib Bukele gives us an update on the adoption progress of their government Bitcoin app - Chivo Wallet.
Coinbase is rolling out direct paycheck deposit feature for US users
Coinbase is launching a new feature for its U.S. customers that will allow them to directly deposit their paycheck into a Coinbase account.
Dapper Labs Said to Reach $7.6B Valuation in $250M Funding Round
The firm behind NBA Top Shot and the Flow blockchain also announced a deal with Spain’s top soccer league, LaLiga.

Markets

Crypto Charts 38
BitcoinBitcoin Bearish Short Term ChartLast time we sold at 43′330 and started to ‘to buy around the 40′800 levelfollowed by 38′000 expecting to see a low anytime for Bitcoin before the nextwhat should be an impulsive move higher in wave 3’. Since the low we havebounced to 44′350 and currently s…
The Week Onchain (Week 39, 2021)
Exploring the bull and bear cases for the current market structure, as well as a deep dive into our new Lightning Network metrics.
Weekly Bitcoin USD chart analysis calendar week 38 - 2021
Bitcoin USD daily Basis Bitcoin USD Chart Analysis - Sustainable overcoming of the 50′000 mark fails For the time being, the question during the reporting
Institutional investors bought the dip as China FUD broke
Institutional investors snapped up $50.2 million worth of Bitcoin investment products last week, marking a 234% increase week-over-week.
USDT sell-off against yuan intensifies on crypto OTCs after China’s crackdown - CryptooNow
China’s intensified crackdown on crypto trading appears to have spooked some retail users into selling USDT on over-the-counter (OTC) markets on crypto exchanges. Within a day of China releasing its t

Regulations

UAE regulators approve crypto trading in Dubai free zone - TechStory
The Dubai government is pushing for more regulatory permits in the cryptocurrency industry to increase acceptance.
US Federal Reserve working on CBDC research paper
U.S. Federal Reserve Bank Chair Jerome Powell said that the central bank would soon release a paper on a central bank digital currency (CBDC), indicating
The World Bank, IMF and BIS push for central bank cryptocurrencies to improve cross-border payments
CBDCs could shake up today’s international payments systems, according to the World Bank, the IMF and the Bank for International Settlements.
Regulators release guidelines for crypto trading platforms in Canada
The CSA and the IIROC stated their concern about crypto trading platforms violating the securities requirements in Canada.
Coinbase is expected to present a crypto framework to US officials - TechStory
Coinbase is preparing a draft regulatory framework for consideration by federal lawmakers, which it plans to distribute.
Huobi to Gradually Expel Its China Users in Wake of Ban; Token Slides to 8-Month Low
Huobi token’s price hits the lowest since late January

Opinions

I could potentially see Bitcoin to become the 21st century gold – Deutsche Bank
Crypto-currencies’ market cap of more than one trillion us dollars make them too important to ignore. Marion Laboure, Analyst at Deutsche Bank Research, tells us how the development of digital currencies will shape the future of payments.
Commodity strategist predicts Bitcoin ETF could get the nod in US next month
Bloomberg’s Mike McGlone believes the the Unites States SEC could approve its first Bitcoin ETF as early as next month.
A research analyst at a $2 billion crypto firm lays out the bull case for polkadot that most investors are overlooking — and shares why cardano’s ada is looking overvalued after a stellar run
“The main upgrade for Polkadot to connect all these different blockchain is going to happen over the next month or so,” said 21Shares lead researcher.

Readings / Podcasts

Why decentralization matters
Chris Dixon’s blog.
Is the Cycle Going to Break? With Willy Woo — What Bitcoin Did
<p>Bitcoin & Crypto trading news and strategy</p>