Highlighting what went right, and what went wrong, in this week’s crypto news analysis.

A busy week for lawmakers in the US as congressional representatives visit Switzerland to try and understand more about Libra’s structure.

Meanwhile the IRS has sent a new round of letters to crypto hodlers, and the FTC has settled against crypto pyramid schemers.

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

Latest Industry News

Carney suggests taking on Libra

  • The Governor of the Bank of England has made a radical suggestion to overhaul the global financial system, eventually replacing the US dollar as the reserve currency with a virtual currency
  • His proposal comes just months before stepping down as Governor, and amid a flurry of trade wars which threaten to become currency wars

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Facebook’s backers maybe backing away

  • The FT reports two of the original investors of the Libra Association are considering pulling out following enhanced scrutiny from regulators
  • It remains unclear which two of the 28 members the FT is referring to, but it’s perhaps unsurprising given EU antitrust officials as well as regulators from the US, Canada, UK, and Australia have all expressed concerns over privacy

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Crypto funds outperform

  • Since 2017, an equal-weighted index of crypto funds significantly outperformed bitcoin and most other crypto assets
  • From Q1 2017 through Q2 2019, the CFR Crypto Fund Index returned 1,430%. This easily bests bitcoin’s 1,022% return and narrowly surpasses the 1,413% of the CCI 30

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Latest Coin News

BTC

Copper's weekly BTC price chart for 26 August 2019

ETH

Copper's weekly ETH price chart for 26 August 2019

  • Price analysis: Recovers from Sunday’s lows, upside momentum fades away
  • Ethereum could be first public blockchain to join Hyperledger
  • Buterin says increased Tx costs are hurting overall adoption

XRP

Copper's weekly XRP price chart for 26 August 2019

 

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