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BTC Week

The week for Bitcoin has been a bearish one with the major cryptocurrency falling below 10k but not capitulating.  

We kicked off the week with headlines that Facebook’s Libra was being talked about in Switzerland and the US congresswoman Waters discussions with Swiss regulators threw up more questions than it did answers. Waters and the Swiss have now requested more documents from Facebook.  Click here  

After receiving some documents the Swiss regulators said they were “vague” and feel they need more clarity.  Click Here

Next up, we had the announcement from Binance that they are set to join the short term lending market. They are set to use crypto deposits as collateral and offer interest rates between 7 and 15%.  Click here

On the exchange front there have been quite a few positive stories this week:

CoinFlex are now looking to provide physical delivery of BTC futures contracts at expiry.  Click Here

Gemini exchange are set to let users deposit and withdraw in fiat currencies according to the latest reports.  Click Here

One of the worlds biggest cryptocurrency trading exchanges Bitfinex said they are looking to add stable coins pegged to rubber, gold and crude oil.  Click Here

But the week did not end so well for BitMex after massive outflows were recorded.  Click Here

Elsewhere, on the central bank front, there were two main stories. The PBoC are being very coy on their eagerly awaited cryptocurrency and after some “will they, won’t they” stories it seems they are set to release the coin sometime in November.  Click Here

At the all-important Jackson Hole symposium, Bank of England governor Carney surprised the markets with the declaration that he believes some kind of cryptocurrency will overthrow the US dollar. I bet that went down well after a few drinks.  Click Here

Sticking with the positive messaging company Telegram announced they will include a wallet and release their own “Gram” coin.  Click here

Not to get too carried away there was some shady goings-on in the cryptosphere as  French police seized a virus creating Monero cryptocurrency on 800,000 computers.  Click Here

Lastly, Today was the monthly expiration date for Bitcoin Futures (BTC) on the CME futures exchange. The price actually rose toward the cut off time which was welcome and here is an article to help you in the future to be prepared for the next expiry.  Click Here