Good morning!
We have seen a slow down in the bitcoin sell-off over the weekend with confirmed by the price not breaking below the $40,000-$42,000 support level. This is a key level to hold otherwise the cryptocurrency faces a new support level in the high thirties. At the time of writing, bitcoin is now trading at $43,500.
It is likely that we see some further volatility given the imminent vote on the United States government’s infrastructure bill, which could come as soon as today. This combined with another China crypto crackdown could force further downside for the world’s largest cryptocurrency. Time will tell whether this is the case.
Let’s get started.
Markets
As of 27th September 2020
(source: coinmarketcap)
Headline roundup
Nasdaq listed CleanSpark moves full mining power to foundry pool (CD)
Scaramucci says most institutional investors remain hesitant to invest in crypto (CD)
BNPP, Citi, HSBC, StanChart parter with Marketnode for blockchain bonds (LI)
Singapore startup sells carbon neutrality tokens backed by Chinese carbon credits (CD)
Robinhood to roll out crypto wallet fully by early 2022 (CD)
China broadens cryptocurrency crackdown (LI)
Cardano announces partnerships with Dish network and Chainlink (CD)
BIS crypto-asset rules exclude banks from crypto say incumbent trade associations (LI)
UK regulators progress blockchain for reg reporting (LI)
Mastercard acquires cryptocurrency intelligence firm Ciphertrace (LI)
Robinhood crypto appoints new CTO, hire CCO from Greyscale (CD)
Google cloud to host Flow blockchain (LI)
CBDC
Chile’s central bank establishes CBDC working group (LI)
HSBC supportive of CBDC, working with 8 nations (LI)
UK’s House of Lords opens CBDC inquiry (LI)
Turkey partners with tech defense firms in CBDC research (LI)
VC
Immutable X token sale raises over $12.5m in under an hour (CD)
Blockchain startup Swash raises $4m to make data monetization click (CD)
Cardano’s commercial arm to invest $100m in DeFi, NFTs and blockchain education (CD)
Bitcoin startup Moon raises $2.1m to enter new markets (CD)
Grape Network, the startup that broke Solana, raises $1.8m (CD)
Argo blockchain raises $112,5m in US share sale (CD)
Solana based DEX Orca raises $18m Series A funding (CD)
DeFi platform Kava launches $185m fund to onboard new projects (CD)
Ex-Consensys Ventures head Kavita Gupta raising over $50m for new fund (CD)
Meme of the week
About me
My name is Michael Burke, and I started working in the blockchain space about 4 years ago, firstly with Deloitte, now with R3, where I help our customers build enterprise solutions utilising the Corda platform. My interest in blockchain and cryptocurrency stems from the sheer potential of the technology to completely transform industries and value chains for the better.