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Top 5 Crypto News This Week!

Photo of: Nathan VDH
by Nathan VDH

Another Nasdaq company buying $150 million worth of Bitcoin (BTC)

After MicroStrategy, which has $1 billion in Bitcoin cash, we learned that Marathon Patent Group, another Nasdaq-listed company, reported having purchased 4,812 BTCs or $150 million. The result? Marathon’s shares jumped on the stock market from the very beginning. “By buying $150 million of Bitcoin, we only accelerated the process because we believe that Marathon is the right investment choice for both individuals and institutions seeking exposure to this new asset class,” said the company’s CEO. What will be the next Nasdaq company to bet on Bitcoin as well? To be continued.

New partnership with Reddit has little impact on ETH pricing

The Reddit platform has announced a partnership with the Ethereum Foundation. The ETH price continued to rise, but the announcement did not have a strong positive impact on the price, which many in the ETH community had hoped for. The social media giant thus signed its first ever blockchain partnership. Administrators said that Reddit will launch large-scale applications through Ethereum’s blockchain, which it calls community points. Reddit’s goal is to tokenize its karma token. This token reflects the degree of user contribution to the Reddit community.

The creator of Silk Road, the portal of the Dark Web, has not been pardoned by Trump, he remains in prison

We were wondering last December, was Ross Ulbricht, the architect of the famous Silk Road dark web portal where you paid in Bitcoin, going to be pardoned by Donald Trump? The answer was unfortunately negative for the man who is currently serving a double life sentence without the possibility of parole. He is currently in his 8th year in prison. If the presidential pardon is to be forgotten, the FreeRoss collective remains very mobilized and fights every day for the release of this lover of free markets and privacy. When he created Silk Road, he was 26 years old. His very heavy sentence was clearly a way for the U.S. government to make an example, considering that he was never prosecuted for causing damage or bodily harm and that no victim was named in the trial.

Cryptocurrency loans explode at Genesis

Here’s a piece of news that says a lot about the current craze for Bitcoin and cryptocurrencies. Cryptocurrency broker Genesis reported that its cryptocurrency lending business grew by more than $7.6 billion in the last quarter of 2020. This is simply Genesis’ biggest quarter, its previous record was $5.2 billion. Note that this is the eleventh consecutive quarter of strong growth for Genesis. “Our loan portfolio has grown significantly in value through a combination of new cash and cryptocurrencies issues, as well as a significant increase in asset prices on Bitcoin loans,” the company said.

Statements that Bitcoin could collapse cause hilarity

We end with an update on a primary anti-Bitcoin, Agustín Carstens, who is none other than the General Director of the Bank for International Settlements, the BIS, the “central bank of central banks”. This Mexican economist is not fond of decentralized digital currencies like Bitcoin. He called it a risky investment, adding that it could eventually fail. “Investors should be aware that Bitcoin could well collapse completely. Scarcity and cryptography are not sufficient guarantees,” he said. His remarks sparked a storm on Twitter and cryptos fans defended Bitcoin. This is the case of the CEO of Binance, or Erik Voorhees, the boss of ShapeShift. The latter said “It’s getting sad, because banks continue to underestimate the magnitude of the challenge posed by decentralized currencies like Bitcoin”.