ECB president pushes for a central bank digital currency...
One week in review:
Jan. 6–12 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. Bitcoin on the verge of breaking seven-month downtrend | | | It's been another tumultuous week for the world's biggest cryptocurrency, which is on the verge of breaking out of a long-running downtrend. Although BTC rallied to $8,400 a few days ago — which is the next resistance zone, according to analysts — prices have since retreated back to the low $8,000s. It follows speculation that geopolitical instability, fuelled by the increasing tensions between the United States and Iran, may have sparked the surge. | | #2. ECB president pushes for a central bank digital currency | | | The president of the European Central Bank, Christine Lagarde, has said she supports the institution's efforts to develop a central bank digital currency that would facilitate faster and cheaper cross-border payments. She revealed that the ECB is continuing to "assess the costs and benefits" of such an asset, as it would enable the public to continue using central bank money even when old-fashioned coins and banknotes decline. | | #3. Court denies SEC request to make Telegram reveal ICO bank records | | | A request by the U.S. Securities and Exchange Commission for Telegram to reveal its bank records has been rejected by a judge in New York. Telegram's lawyers will undoubtedly be breathing a sigh of relief that the application has been thrown out. The SEC has been trying to find out how Telegram spent the $1.7 billion raised during its initial coin offering in 2018, but the company said the regulator's request amounted to an "unfounded fishing expedition." It isn't all smooth sailing for Telegram, however, as it will still have to prove that its bank records comply with foreign data privacy laws. | | #4. Prediction of the Week BitPay exec: "Something unforeseen" to push Bitcoin over $20,000 in 2020 | | | Sonny Singh, the chief commercial officer of BitPay, says Bitcoin will reach its highest price ever this year… with "unforeseen" events attracting new buyers. He told Bloomberg that the reasons for the rise will only become clear once a bullish surge kicks in. Singh pointed to how BTC enjoyed gains when Greece was grappling with its sovereign debt crisis in 2015, and the boost for crypto awareness that came when Facebook announced plans for its Libra stablecoin last year. | | #5. FUD of the Week Bitcoin scam ads featuring Martin Lewis now spotted on Instagram | | | A British financial expert has warned the public to be aware of BTC scam adverts featuring his face on Instagram. In the ad, Martin Lewis appears to be endorsing a "revolutionary Bitcoin home-based opportunity" — and it links to a rip-off version of a major news website. Although Facebook and Instagram had banned crypto ads at the start of 2018, it eased this policy in May 2019 — prompting dozens of fake Libra pages to flood both sites. | | #6. FUD of the Week CFTC cannot locate man responsible for $140 million crypto Ponzi scheme | | | Red-faced officials at the U.S. Commodity Futures Trading Commission have said they cannot locate a man who is allegedly responsible for a crypto Ponzi scheme worth more than $140 million. Benjamin Reynolds is accused of defrauding over 1,000 investors to the tune of 22,858 BTC. The CFTC tried to serve Reynolds at the "service address" of the company that managed the scheme, but it emerged that the address didn't actually exist. Attempts to contact him over email have also been unsuccessful. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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