This Week in Crypto

This Week in Crypto

Stay woke on the latest in blockchain and cryptocurrency. Tune in for interviews with blockchain builders and disruptors as we explore next-generation Web 3.0 applications. Hosted by mota.eth... Show More
September 23, 2019 3 min

This is your daily roundup for Monday, September 23, 2019.  Facebook reveals the Libra basket breakdown, Binance US opens trading, and Matter Labs raises $2 million to research Zero-Knowledge Proofs for scaling ethereum.

☕ Buy Me A Coffee: https://glow.fm/mota

Facebook Reveals Libra Basket Breakdown

Facebook has revealed the percentage breakdown of a basket of global currencies that will back its Libra cryptocurrency. German newspaper Der Spiegel has reported that Facebook revealed the percentage breakdown in a letter to German legislator Fabio De Masi. Since the start, Facebook has assured that 50 percent of the basket would be backed by the US dollar. The remaining portion will consist of 18 percent euro, 14 percent yen, 11 percent British pound and seven percent Singapore dollar.

The Chinese yuan will not be included in the basket as there are many concerns over the tense trade relationship between the US and China. China views the currency as a direct threat and is developing its own central bank digital currency (CBDC) to meet the challenge posed by Libra.

Bitcoin Mining Is Surging

MicroBT, the manufacturer of the WhatsMiner bitcoin miner says it has delivered more than 100,000 units this quarter. The WhatsMiner M20 series is priced at between $1,500 to $2,000, generating several hundred million dollars in revenue for MicroBT.

The Bitcoin hash rate jumped about 60 percent is the last 4 months. Yang Zuoxing, founder and CEO of MicroBT believes that the total bitcoin network hashrate could increase by another 30 percent by the end of the year. Yang also addressed concerns about some orders being delayed, and explained the holdup was due to a delay from its chip supplier Samsung, as the rapid development of the 5G network has increased demand for the chips.

Binance US Opens Trading

Binance US is opening trading this week for fiat-to-crypto and crypto-to-crypto trades. Binance US has added BNB coin and announced its plans to open deposits for cardano, basic attention token, ethereum classic, stellar lumens, and 0x.

Binance says it will continue to roll out additional cryptocurrencies that meet U.S. regulations and compliance standards based on its Digital Asset Risk Assessment Framework. Users for the new exchange will receive a $15 referral bonus until Nov. 1st. Binance US has partnered with software provider Chainalysis and KYC/AML tool provider IdentityMind to strengthen its compliance practices. Binance’s US stablecoin BUSD is yet to be listed on the exchange.

Zero-Knowledge Proofs To Scale Ethereum

Matter Labs has raised a $2 million seed round led by Placeholder VC to develop a new scaling initiative for ethereum. Investors include 1kx, Dekrypt, Hashed and Dragonfly Capital Partners. Matter Labs is leveraging Zero-Knowledge Proofs (ZKPs) as a scaling solution for Ethereum. The startup has a prototype available, but is still working on a new minimum viable product.

Bakkt Off To A Slow Start

Bakkt bitcoin futures are off to a slow start on its first day of trading. The first Bakkt futures contract was executed at a price of $10,115. 71 monthly contracts were traded for the first day. The first daily bitcoin contract was traded 18 hours after Bakkt went live, at a price of $9,975.00.

Share
Mark as Played

Chat About This Week in Crypto

Popular Podcasts

13 Days of Halloween
13 Days of Halloween
Welcome to Hawthorne Manor. As our newest arrival, the caretaker himself (Keegan-Michael Key) will be providing a daily tour and introduction to another guest. Please remember to wear headphones throughout your stay. And make yourself at home. After all, this is it! A production of iHeartRadio, Blumhouse Television, and Grim & Mild from Aaron Mahnke.
Halloween in Hell
Halloween in Hell
A scripted horror musical podcast, just in time for Halloween. Rock legend Tommy Lee stars as the Devil, featuring original music and performances by Machine Gun Kelly, iann dior, Dana Dentata, phem, and 24kGoldn. On Halloween, Satan lures three performers to his sadistic game show in Hell where they must perform or die. The winner returns to Earth. The losers will play out their showbiz careers in fiery hellfire and damnation.
Stuff You Should Know
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks then look no further. Josh and Chuck have you covered.
    Music, radio and podcasts, all free. Listen online or download the iHeartRadio App.

    Connect

    © 2020 iHeartMedia, Inc.