Daily Crypto Brief for Tuesday, August 4, 2020

#DailyCryptoBrief #CryptoNews #ITBiometrics

This is your ITB Media Daily Crypto Brief for Tuesday, August 4, 2020.


In Mainstream Financial News.

#CNBC reports: Twitter warns about possible $250 million FTC fine - https://cnb.cx/39Vgp2v

Twitter on Monday disclosed that it expects to lose as much as $250 million for using personal information users provided for security purposes to target advertising instead, after receiving a draft complaint from the Federal Trade Commission.

#Bloomberg Headline: Crypto Venture Fund Raises $110 Million From Universities - https://bit.ly/3frNELR

Crypto Venture Fund Raises $110 Million From Universities. (Bloomberg) -- Electric Capital, a San Francisco-based venture fund, said it will use $110 million raised from university endowments and other nonprofits to invest in cryptocurrencies and related businesses.

#AsiaTimes Reports: Bitcoin ‘will drop to $10K’ before rally resumes - https://bit.ly/31luhiF

Volatility Data Suggests Bitcoin Price Drop to $10K Before Rally Resumes. Volatility metrics suggest Bitcoin price may revisit $10,000 before restarting the rally to a new 2020 high

#WallStreetJournal Headline: Bitcoin Is Riding High Again as Investors Embrace Risk - https://on.wsj.com/33yWlSr

The market boom that pushed stocks, bonds and commodities to their best combined four-month spurt in decades has found its way into the most notoriously volatile and speculative asset on the planet: bitcoin. After trading flat for months, bitcoin rose as high as $11,868 on Saturday from around $9,100 in early July, extending its gain for 2020 to 65%.

#Forbes Headline: Is This The Real Reason Behind Bitcoin’s Huge Weekend Flash Crash? - https://bit.ly/30rMBHC

Bitcoin volatility is back. ... Bitcoin's Sunday morning flash crash was initially attributed by some to so-called "whales" who control large amounts of bitcoin moving the market, however others have now suggested it could be due to "algo misbehavior."

In Social Media headlines.

Altcoin Daily (YouTube) posts a video titled: Bitcoin About To Explode in September 2020 as Massive Money Inflow CONFIRMED. Cryptocurrency News.

The Moon (YouTube) reports: ETHEREUM TO $18,000!!!!!!! [How To Make Money With DeFi...] w. MMCrypto!

Data Dash (YouTube) posts a video titled: The Time Is Now. Bitcoin, Gold & Silver Confirm Bull Market.

On Crypto Zombie (YouTube): BITCOIN BREAKOUT!!? ETHEREUM ON FIRE!! HOW to EARN PASSIVE $ETH EASY!!! 800%!!

In Crypto Publications headlines.

#Cointelegraph reports: China’s Digital Yuan to Reportedly Target Dominance of Alibaba and Tencent - https://bit.ly/2PpyDQc

The People’s Bank of China is purportedly planning to use its digital currency electronic system (DCEP) — another moniker for its central bank digital currency — to target the dominance of technology giants like Alibaba and Tencent in the digital payments sector. The report comes only a few days after claims of the central bank prompting a top antitrust agency to launch a probe against Alipay and WeChat Pay for using their dominance to suppress competition.

#Coindesk.com headline: The 2020 Rainy Season Is Tougher Than Ever for China’s Bitcoin Miners - https://bit.ly/3fswluf

The rain has come. The machines are humming. This should be the best time of the year for China’s bitcoin miners. The monsoon season, generally from June to October, brings excessive rain and thus cheap hydro electricity.

#Cryptonews.com reports on its front page: Russian Lawyers Warn E-pay Laws May Have Knock-on Effects for Bitcoin - https://bit.ly/2Daye1D

A new Russian law banning anonymous fiat deposits in e-pay wallets like PayPal may have an effect on crypto users, legal experts in the country have warned. A new law governing digital payment systems came into force in Russia on August 3. The law forces operators such as PayPal and domestic rivals Yandex.Money, QIWI and WebMoney to block their customers from topping up their accounts anonymously. Many Russians have used payment terminals and cellphone operator-provided platforms to top up digital wallets.

This has been your ITB Media Daily Crypto Brief for Tuesday, August 4, 2020.

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