ICYMI: Crypto Week in Review (March 3, 2019)
Each Sunday, we breakdown the most important news from the past week for SludgeFeed Premium members with key takeaways you might’ve missed.
Top Headlines This Week:
After months of badgering from the XRP community, Coinbase finally added support for XRP this week. Users can now buy, sell, convert, send, receive and store XRP.
According to four individuals familiar with the matter, Facebook has told the exchanges that it is hoping to release the crypto product in the first half of the year, indicating that the stablecoin could very well be available in the next few months.
Failed Canadian crypto exchange QuadrigaCX stored a significant quantity of Ethereum (ETH) in other crypto exchanges, according to new evidence. This claim was made in a report published by ZeroNonCense on February 28, with corroborating information from Kraken CEO Jesse Powell and MyCrypto CEO Taylor Monahan.
SoFi, an online personal finance company that specializes in student and personal loan refinancing, is reportedly planning to launch crypto trading by the second quarter of 2019, as part of an ongoing push into wealth management and investing.
Digital Currency Group-backed Circle is reportedly planning to raise $250 million to further expand its crypto offerings. According to a report by The Information, which cites an individual with knowledge of the matter, the fundraising round will combine equity and debt financing.
Billionaire investor Warren Buffett again shared some choice words about Bitcoin and other digital currencies on Monday.
During an interview with CNBC’s Becky Quick, Buffett doubled down on his anti-crypto position, saying “Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day and no little bitcoins come out. It’s a delusion basically.”
Notably, this is extremely similar to how Buffett has described precious metals like gold and silver in the past. (Don’t worry Warren, nobody remembers when you bought 129,710,000 ounces of silver in the late 90s).
Ethereum’s average block times have dropped to their lowest level ever at just 12.5 seconds, down from 21 seconds per block. That’s after the Constantinople upgrade kicked-in on Thursday, delaying the difficulty bomb for another 12 months.
Twitter CEO and long-time Bitcoin (BTC) supporter Jack Dorsey revealed on Friday that he is now the owner of a Casa Node, a plug-and-play box that allows users to run their own Bitcoin and Lightning Node with no coding experience.
Tweet of the Week:
I asked our Compliance team what they thought of Neutrino. Fortunately, they'd just completed an evaluation. Neutrino came in last place on product (out of the 5) but was disqualified anyway due to the risks. However, other factors are important in M&A: cost, culture fit. pic.twitter.com/kiYh11GEBc
— Jesse Powell (@jespow) March 3, 2019
Video of the Week:
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.