Having a crypto-friendly face at the head of the world’s most powerful market regulator should be hugely bullish for the sector, and advocates got what they wanted this week as Hester Peirce won a second five-year term as SEC Commissioner.
Dubbed ‘Crypto Mom’ in the industry press, Peirce has argued for a full US crypto regulatory framework, asked for lengthy ‘safe harbour’ for companies undergoing token sales and backed the acceptance of the first US Bitcoin ETF.
DeFi continues to rocket exponentially higher as market cap booms past $15bn and total value locked in smart contracts exceeds $6bn, while price oracle ChainLink takes fifth-largest crypto by market cap from Bitcoin Cash.
And wealthy investors should now buy Bitcoin in the face of rampant currency devaluation from central bank money printing, says the former CEO of life insurance giant Prudential.
DeFi market cap explodes past $15bn [16 August 2020]
DeFi is the hottest story in crypto right now, with the market cap of this white-hot sector shooting past $15bn. The total value locked in DeFi is up over 344% inside three months. Read more.
DeFi price oracle ChainLink up, 1,000%, overtakes BCH [18 August 2020]
Since the Black Thursday crash, DeFi price oracle ChainLink (LINK) has risen over 1,000%. LINK is driving a huge uptick in the non-Bitcoin crypto market cap, taking the fifth spot from Bitcoin Cash. Read more.
Time to buy Bitcoin, Prudential ex-CEO tells wealthy investors [17 August 2020]
Another long-time institutional opponent to Bitcoin has fallen. Ex-Prudential Financial CEO George Ball advised wealthy investors this week to hedge against central bank money printing by buying Bitcoin. “I’ve never said this before, and I’ve always been a blockchain, cryptocurrency and Bitcoin opponent. But if you look now, the government cannot stimulate markets forever. The liquidity flood will end.” View more.
‘Crypto Mom’ Hester Peirce wins second 5yr term as SEC Commissioner [17 August 2020]
One of America’s strongest institutional and regulatory advocates for cryptocurrency Hester Peirce has been sworn in for her second term as the Commissioner of the SEC. In her position as the leader of the powerful US market regulator Peirce has proposed a three-year ‘safe harbour’ for crypto token sales, criticised the SEC’s rejection of a Bitcoin ETF in 2018 and backed the creation of a strong regulatory framework “that works for crypto”. Read more.
Bitcoin hashrate hits ATH as price breaks $12k [17 August 2020]
Bitcoin’s seven-day average hashrate — a measure of how much computing power is being used on the blockchain — has risen to all-time-highs. Some analysts believe a rising hashrate is indicative of future price rises in the cryptoassets, because it signals an influx of new miners seeking larger potential profits from securing the network. Read more.