Daily Crypto Brief for Monday, August 10, 2020

#DailyCryptoHeadlines #CryotoNews #ITBiometrics

This is your ITB Media Daily Crypto Brief for Monday, August 10, 2020.

In Mainstream Financial News.

#CNBC reports: Goldman names new head of digital assets in bet that blockchain is the future of financial markets - https://cnb.cx/3kpncGp

Goldman Sachs is renewing its push into Wall Street's digital future. The firm made Mathew McDermott, a managing director who ran the investment bank's internal funding operations, its new global head of digital assets last month, CNBC has learned exclusively.v

#Bloomberg Headline: Bitcoin Delirium Makes a Reappearance While Risk Assets Surge - https://bloom.bg/3fGkZmt

The largest cryptocurrency is surging again while other risk-on assets such as stocks approach record highs and even gold hits fresh daily milestones. After briefly exceeding $12,000 over the weekend for the first time in a year before experiencing a flash crash that pushed it almost back to $10,000, Bitcoin is quickly re-approaching that higher level. “This is probably the ultimate in momentum-based assets,” says Matt Maley, chief market strategist at Miller Tabak & Co. “The best thing that can happen right now is if you go back down and successfully test that support level and bounce off that. You get that kind of move and it’s going to be very bullish."

#AsiaTimes Reports: Bitcoin may be only asset worth owning: Raoul Pal - https://bit.ly/33M1jeC

Raoul Pal, a former Goldman Sachs fund manager and founder of Real Vision Finance, tweeted: “I am already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation.”


#WallStreetJournal Headline: Companies Should Bolster Blockchain Controls, Risk Advisory Group Says - https://on.wsj.com/33IG0KL

Companies should conduct thorough risk assessments and develop muscular internal controls to strengthen oversight of blockchain-technology projects, according to new guidance from the Committee of Sponsoring Organizations of the Treadway Commission.

#Forbes Headline: After Bitcoin ‘Betrayal,’ Goldman Sachs Is Suddenly Betting Big On Crypto And Blockchain - https://bit.ly/2PIEoIA

Goldman Sachs GS +2%, along with Wall Street banking rival JPMorgan JPM +2.2%, has a mixed history with bitcoin. After cheering bitcoin's epic 2017 rally to around $20,000 in 2017, Goldman Sachs "betrayed" bitcoin believers in May this year when the bank's top analysts revealed a Buzzfeed-style "five-reasons-why" they didn't think bitcoin and cryptocurrencies should be considered an asset class in a much-hyped investor call.

In Social Media headlines.

Altcoin Daily (YouTube) posts a video titled: HISTORY IS REPEATING: Bitcoin Holders MUST WATCH This Video Before November 3rd, 2020.

The Moon (YouTube) reports: URGENT!!! BITCOIN IS BREAKING OUT RIGHT NOW!!!! $13,000 TODAY OR PULL BACK?!!

Data Dash (YouTube) posts a video titled: The Next Crypto Cycle Is Here. Crypto Market Up 50% In One Month.

On Crypto Zombie (YouTube): BITCOIN SUPERCYCLE BEGINS!! BIG MONEY EYES DEFI!! $15,300 TARGET!!! THANK YOU!

In Crypto Publications headlines.

#Cointelegraph reports: Canadian Weatherman Frankie MacDonald Is Bullish on Bitcoin - https://bit.ly/2PHjzO2

Frankie MacDonald is the latest internet personality to use his platform to push adoption of Bitcoin to a seemingly new audience. Frankie MacDonald, an amateur meteorologist based in Nova Scotia, has recently been using his platform to talk up Bitcoin in his charismatic voice.

#Coindesk.com headline: Bitcoin’s Stolen Revolution - https://bit.ly/31Ae6hj

We either demand that the properties of user ownership and censorship resistance pioneered by Bitcoin persist. ... Or, we accept the facade of false-decentralization that has been erected by a centralized regime. Our revolution is being stolen, but it's not too late to take it back.

#Cryptonews.com reports on its front page: Bitcoin Rallies to New Yearly High, Outperforms Ethereum; Chainlink Flips Litecoin -

The most popular cryptocurrency, bitcoin (BTC), rallied to a new yearly high in early Monday hours (UTC time), outperforming all but one coin in the top 10. At pixel time (03:33 UTC), BTC trades at USD 12,037 and is up by 2.3% in a day and almost 8% in a week. Earlier today, it hit almost USD 12,043, compared with USD 12,041 reached on August 2 when it crashed in minutes. The price is also up by 29% in a month and 5.7% in a year.

This has been your ITB Media Daily Crypto Brief for Monday, August 10, 2020.

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