Square invests in Bitcoin !

Yoann Choux – 13 Oct 2020

Square invests in Bitcoin

Square invests $50M in Bitcoin, which represents 1% of its assets.
The company offers payment systems, and is notable because of its CEO Jack Dorsey, also head of Twitter.
Jack Dorsey is known as a proponent of the use of cryptocurrencies, especially Bitcoin.

Fundraising for Aave

The Aave project raises $25 million, notably from Blockchain Ventures.
It is currently the third project in terms of funds under management in the DeFi ecosystem.
According to the CEO, these funds will be used for development in Asia and for a rapprochement with institutional investors.

Iran develops a cryptocurrency

Iran is massively modifying its financial sector, under the effect of American sanctions.
In particular, the country is going to develop a cryptocurrencies used to replace the SWIFT system, which is based on gold.
Licenses have also been granted to numerous mining companies.

Cryptos derivatives prohibited in England

The FCA, the British financial regulator, prohibits the sale of crypto derivatives to individuals.
The organization considers these products too dangerous and volatile for an inexperienced individual.
The ban comes into effect in early 2021. Some platforms could be heavily impacted, as they do not sell cryptos, but derivatives.

State stablecoins report

Seven central banks publish a document on state stablecoins (CBDCs).
The ECB, the FED and the BIS (Bank for International Settlements) have thus created a standard that these future assets will have to comply with.
However, none of these banks has yet taken the decision to create such an asset.

Launch of an XRP loan system

Ripple launches an XRP loan system.
Currently in beta, the product will be open to On Demand Liquidity users, so it will probably be B2B oriented, especially for SMEs.

Aztec : new layer 2 platform

A newcomer arrives on the list of layer 2 platforms on Ethereum: Aztec.
The particularity of Aztec is a focus on privacy: using zero-knowldge-proof solutions, the platform manages to make all transactions private.
The platform promises 300 transactions per second.

Figures of the week

A new record for Ethereum

Ethereum hashrate reaches 254 TH/s, the highest in history.

Cryptos appreciated by listed companies

6.7 billion dollars in crypto are now held by 13 publicly traded companies.

A statistic on the dollar

22% of the dollars in circulation since its inception were issued in 2020.

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