Copper’s Weekly Update – 14 September 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.

With yield farming inarguably still the focal point of the industry, crypto exchanges have been feeling left out.

In an attempt to compete with the frenzied movement in DeFi, Huobi announced last week the launch of several crypto savings products that will allow its clients to earn interest on BTC or USDT, but with lower risks than DeFi markets. In the coming weeks, we expect to see more exchanges to expand their footprint in the growing crypto investment space.

On Thursday, Switzerland showed it is stealthily becoming among the world’s most pro-crypto countries. Parliamentarians quietly passed a fresh set of finance and corporate law amendments that recognise the crypto and blockchain industry.

On Friday, we released a new Coppercasts episode featuring David Shrier, one of MIT and Oxford University’s leading futurists. AI is at the heart of this episode, which has been our most listened to podcast so far in the series. If you haven’t listened yet, you can check out it out here to hear what all the fuss is about!

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.

DCG enters retail crypto market with acquisition of Luno

Cryptocurrency exchange Luno has been acquired by the blockchain investment firm, Digital Currency Group (DCG).

DCG was one of Luno’s earliest investors, participating in a seed round within a year of the startup’s establishment in 2013. Luno will continue to operate as an independent subsidiary.

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Mastercard releases platform enabling central banks to test digital currencies

On Wednesday, Mastercard announced the launch of its central CBDC testing platform to help central banks assess and explore national digital currencies.

Emphasising the need for its new platform, Mastercard cited research by the Bank of International Settlement (BIS) highlighting that about 80% of central banks are researching CBDCs and about 40% have already progressed to the experimental stage

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Big European states call for cryptocurrency curbs to protect consumers

Germany, France, Italy, Spain, and the Netherlands have asked the European Commission to regulate stablecoins.

The finance ministers of the five European Union member states said in a joint statement on Friday that stablecoins should not be allowed to operate in the 27-member bloc until legal, regulatory and oversight challenges had been addressed.

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Latest Coin News

BTC

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  • Price Analysis: Sub $10K incoming? Bitcoin price forms bearish double-top after second rejection at $10,580. Read more
  • Morgan Stanley strategist recommends Bitcoin as central banks ramp up money printing. Read more
  • Bitcoin’s correlation with gold hits record high. Read more

ETH

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  • Price Analysis: Ethereum struggles to maintain $380 before further plunge. Read more
  • Ethereum 2.0 on track for November launch, Says dev. Read more
  • Bitcoin on Ethereum is booming: closing in on $1 billion in value. Read more

XRP

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  • Price Analysis:  XRP price is primed for a bullish break and only 1 thing is holding it back. Read more
  • YouTube ignored warnings about XRP ‘giveaway’ scams, Ripple says. Read more
  • Former Ripple executive says banks need XRP after global settlement platform suffers major delay. Read more

 

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