Copper’s Weekly Update – 12 October 2020

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

Copper

Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

Though the SEC has struggled to keep up with the pace of innovation in the decentralised finance space, its chairman, Jay Clayton, is open to its potential – commenting on Friday that he thinks all stocks could become tokenised one day.

Last Monday, controversial tech entrepreneur John McAfee was arrested in Spain after being charged by the SEC for recommending several initial coin offerings to his Twitter followers without disclosing the compensation he received for promoting the ICOs.

On Thursday, Andreessen Horowitz premiered Crypto Startup School – a brilliant short documentary offering a glimpse at some of the stories behind the company’s crypto bootcamp. You can watch it on Youtube here. While we’re on the topic of Youtube, a new Coppercasts episode drops later this week. We’ve got something special for this one, so stay tuned!

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.

U.K. FCA bans sale of crypto-derivatives to retail investors

Last week, the UK Financial Conduct Authority (FCA) issued a ban on the sale of crypto derivatives and ETNs to retail investors.
Due to come into effect on 6 January 2021, the ruling has been a source of controversy for market commentators.

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China’s digital currency has already been used in pilot transactions worth $162 million

China’s central bank, the People’s Bank of China (PBOC), has already processed $162 mn worth of digital currency in pilot transactions.

This was confirmed by PBOC’s deputy governor Fan Yi Fei at the SWIFT-organised virtual conference Sibos 2020, and marked the first time a PBoC official has revealed specific details about the digital yuan.

Read More

BitMEX announces leadership changes after U.S. government charges

BitMEX announced leadership changes on Thursday, a week after the US government charged its founders. All the four named defendants, including CEO Arthur Hayes, have stepped back from executive management responsibilities.

Vivien Khoo, chief operating officer of 100x Group, has become interim CEO.

Read More

Latest Coin News

BTC

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  • Price Analysis: BTC triangle breakout tops $11,500. Read more
  • Billionaire-founded Square invests $50 million In Bitcoin, pushing shares to all-time high. Read more
  • Bitcoin for Spain’s Congress: BTC sent to 350 Spanish parliament members. Read more

ETH

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  • Price Analysis: Ether rebounds above $335 low, attempts to break $380 high. Read more
  • Monthly Ethereum futures volume hit all-time high in September.. Read more
  • Ethereum miners made 450K ETH from high network fees during DeFi peak. Read more

XRP

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  • Price Analysis: Chances of more upsides above $0.26. Read more
  • Ripple enters lending with XRP credit lines to fund global payments. Read more
  • Ripple labs beats most investor fraud claims in XRP suit. Read more

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