Top Stories That Shook the Crypto World
This week, crypto enthusiasts were in for a thrilling ride, with more plot twists than a daytime soap opera. Facebook made headlines not for its social media prowess but for the uncertainty surrounding its Libra stablecoin. In a plot summary that even Hollywood would envy, Facebook informed investors that Libra may never see the light of day. Talk about a cliffhanger! The company still clings to hope for a 2020 launch, but regulators are clearly pulling the strings.
Congressional Concerns on Crypto
Some U.S. senators are stepping up, advocating that the country should take the lead in blockchain and cryptocurrencies. Senator Michael Crapo didn’t mince words, stating that if the U.S. doesn’t seize the moment, other nations, like China, could zoom ahead while we’re stuck trying to figure out how to use the vending machine at the office.
Women in Crypto – A Surprising Shift
Forget everything you thought you knew about crypto being a boys club; a new report shows that 22% of European crypto holders are women. Yes, you heard that right! This statistic crushes the old perception that 90% of investors are male. Turns out, many of these women are high earners, taking the reins in a market that desperately needs diversity. Switzerland leads the charge with the highest crypto ownership, while the U.K. still has some catching up to do.
Australia’s Subtle Crypto Commitments
In Australia, instead of cracking down on cryptocurrencies, the government is poised to exclude them from new cash payment limits. This means while cash transactions are limited to AUD 10,000, crypto enthusiasts can keep trading without worrying about new restrictions. Some politicians are applauding this move as a step towards innovation, proving that “down under” might actually be “down to innovate.”
Regulatory Confusion in the U.K.
The U.K. has its own host of regulatory challenges as the FCA has decided to take a step back from overseeing Bitcoin and Ether. In true British fashion, they argued that both currencies are outside their jurisdiction, complicating an already messy regulatory landscape. It’s a bit like saying, “No fish and chips for you!” when everyone else is feasting.
Winners and Losers of the Week
As the week wraps up, Bitcoin is hovering around $10,701, with Ether at $219 and XRP at a mere $0.32. The total market cap is around $287 billion, leaving some traders weeping and others grinning.
- Top Three Altcoin Gainers: TRONCLASSIC, Ubricoin, Formosa Financial.
- Top Three Altcoin Losers: Infinitus Token, EscrowCoin, BQT.
Memorable Quotes from the Crypto Sphere
In the whimsical world of crypto, some quotes really hit home. Here are a few that left us both chuckling and contemplating:
- “We love you, Bitcoin.” – Jack Dorsey, the fond father of Twitter.
- “I want the U.S. to stay at the forefront of this technology, which both has incredible potential and incredible risk.” – Senator Crapo, a man with no shortage of foresight.
Predictions and Cautionary Tales
As the speculative winds blow, predictions swirl with them. CNBC host Joe Kernen has become a Bitcoin maximalist, forecasting prices could soar up to $55,000 by May 2020. But hold your horses, as there are dark clouds looming too, like Brazil’s IRS demanding monthly account updates on all crypto transactions. Talk about a buzzkill!
Scams and Shenanigans
In Singapore, an alarming new scam is making rounds, with forged statements claiming an ex-prime minister can make you rich overnight. Spoiler alert: It’s a trap! The Monetary Authority of Singapore quickly issued warnings, proving that when it comes to crypto, if it sounds too good to be true, it probably is.
Looking Ahead in the Crypto Galaxy
As we move forward into next week, we’ll keep our eyes peeled for more thrilling happenings in the crypto universe. Will Facebook manage to resurrect the Libra? Will the U.S. strengthen its foothold in cryptocurrency? And will more women break barriers in the space? Stay tuned!
