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The Weekly Bull - October 11, 2019.


The Numbers Game

The cryptocurrency market sees a decent increase in its global market cap and trading volumes over the past 7 days despite the rejection of yet another ETF proposal. Currently, the global market cap and trading volumes stand at $231bn and $61bn respectively while the week started with a global market cap of $218bn and trading volumes of $48bn.


The News

Finablr, a partner of the Ripple network, announces its partnership with Samsung Pay. The Money Transfer feature in Samsung Pay is a product of this partnership and it allows users to make cross border payments and transfers. The feature is currently available in the U.S only and is expected to be available worldwide in 2020. Finablr News.

Heath Tarbert, chairman of the CTCF, announces the commodity status of Ether and hints that CTCF might allow ether futures to trade on the U.S. Markets. CoinDesk.

Ripple enters into a partnership with Finastra. Finastra has banking partnerships with the top banks worldwide and this will induce adoption of ripple globally. Ripple Insights.

ChainLink has been on an impressive run during the past week. Where the crypto market was bleeding, ChainLink saw percentage increases of double digits on the 7th and 9th of October surpassing LEO, Monero, and IOTA. The demand of Link is believed to have skyrocketed after its announcement of Trusted Computation Framework. U Today.

CEO of Maker DAO reveals the launch date of the Multi-Collateral Dai. The said announcement can be attributed to Maker’s value appreciation throughout the week. MakerDAO Blog.

Stellar and Tron foundation join hands with 11 other entities to form BlockChain Education Alliance, founded by MouseBelt. The BEA is set to channel working knowledge of blockchain technology towards university students. Decrypt.

Narrative finally launches its long-awaited feature, Publications, allowing publishers to have tight control over their content. NNT.

The Swiss National Bank and The Bank for International Settlements are now in agreement to dedicate two innovation hubs to Blockchain Technology, mainly having a focus to create a digital central bank currency. BIS Press.


Regulatory Updates

SEC rejects yet another Bitcoin ETF proposal filed by Bitwise Asset Management as it did not fulfill the requirements of Section 6(b)(5) which states the rule of a national securities exchange to be free of fraudulent and manipulative acts & practices. SEC Press.

The United States IRS issues its first-ever cryptocurrency Tax guidance for calculating taxes owed on cryptocurrency holdings. IRS Press.


The Street

UNICEF launches a Crypto fund and becomes the first UN organization to hold and conduct transactions in crypto. The adoption of crypto by top-level organizations adds to the legitimacy and positive potential of the cryptocurrency market. News BTC.

Alipay to block crypto and bitcoin transactions. NewsBTC.

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