Crypto This Week – Week 39

Bitfinex mistakenly paid $24m in fees while sending $100,000 of Ether. The actual fee was just $33. Fortunately, the miner was kind enough to return the fee to Hong Kong-based cryptocurrency exchange. Luckily it wasn’t just a fat middle finger.

Mr. Goxx, a hamster from Germany has been making a big splash in the world of investing by outperforming Warren Buffet, the NASDAQ 100 and the S&P 500. His portfolio is up about 20% since he first started trading in June. The hamster enters his “office”, which is replete with a hamster wheel and two separate tunnels, respectively labeled “buy” and “sell”. Running on the wheel initiates a transaction: an automated, rotating Rolodex of 30 different cryptocurrencies is tied to the wheel’s motion. After Goxx exits the wheel, whatever tunnel he runs through, subsequently initiates a “buy” or “sell” position on that particular token. We call it the future of algo trading of course.

You can look but you can’t touch. Sparkpool, the world's second-largest mining pool based on the Ethereum blockchain, is halting access for members in China following the ban on crypto-trading. The company justified its decision by saying it was a way of safeguarding the crypto assets stored by Chinese users on its servers. Even though China has restricted trading of cryptocurrencies, the country has allowed crypto owners to hold on to digital assets for now.

The eagle has landed. - The Altair Network, the centrifuge-powered project has won the ninth parachain auction on the Kusama Network. The network amassed over $61.7m or 187,835 KSM tokens from over 11,200 contributors.

With all the regulatory scrutiny on the crypto market, the Technoking of Tesla - Elon(g) Musk voiced his opinion at the Code Conference in California stating “ it is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement”.

Visa is looking to accelerate mainstream crypto adoption with its new Universal Payments Channel. The firm has developed a protocol that shows how central bank digital currencies (CBDCs), on different blockchain networks, could be exchanged and used for payment. The payment processing firm has already deployed its first smart contract on Ethereum Testnet, Ropsten, with a payment channel accepting Ether and USDC. I came, I saw, I’m conquering.

banner

SwissOne Capital AG, a specialized digital asset manager with a focus on blockchain investment funds, is partnering with ISP Securities AG to launch their Smart Index Crypto Fund Tracker Certificate. The fund tracker certificate will capitalise on 50 of the best-performing cryptocurrencies, offering unprecedented market exposure compared to individual currencies, exchanges, DeFi and other platforms. Do we smell a Mr. Goxx v.s Smart index war brewing?

It is that plaid simple- Stablecoin issuer, Circle, said that it was partnering with financial data aggregator, Plaid, to make it easier for consumers to move their money out of the bank and into Circle’s USDC.

Nothing in this article constitutes professional and/or financial advice. The content is provided exclusively for informational and/or educational purposes. Nothing is to be construed as an offer or a recommendation to buy or sell any type of asset. Seek independent professional advice in regards to financial, tax, legal and other matters.

Subscribe to our Newsletter