Bitcoin (BTC) adoption by institutions has gone from a myth to fact in the past year, the CEO of major cryptocurrency exchange Coinbase has said.
‘We know the answer’ about adoption: Armstrong
Speaking on Twitter Aug. 16, Brian Armstrong said that 2019 had formed the year of reckoning for institutional Bitcoin uptake, with the trend now obvious. He wrote:
“Whether institutions were going to adopt crypto or not was an open question about 12 months ago. I think it’s safe to say we now know the answer. We’re seeing $200-400M a week in new crypto deposits come in from institutional customers.”
Coinbase becomes world’s largest crypto custodian
Armstrong made the comments hours after Coinbase confirmed its acquisition of the international operations of storage giant Xapo. The move, as Cointelegraph reported, put Coinbase top of the institutional manager list for crypto with $7 billion of assets under custody.
Steemit, a blockchain project that focuses on monetizing social media sites, has given details of a coming code upgrade that will usher in big economic changes.
Announced on Wednesday, the steem blockchain will undergo its 21st hard fork on Aug. 27 – one that will build in a new Worker Proposal System aimed to allow the blockchain to “fund its own development.”
The new system – set up as a decentralized autonomous organization, or DAO – will allow Steem users to publicly propose work they are willing to do in return for payment in the project’s native cryptocurrency, steem dollars (SBD). The Steem.DAO will provide a way for the platform’s users to vote on proposals, weighted by their stake in the platform.
Changpeng Zhao, CEO of major cryptocurrency exchange Binance, has predicted that Binance will resume crypto-to-fiat operations in the United States within the next two months.
Navigating U.S. regulation
Zhao, also known as CZ within the crypto community, made his prediction in an interview with online news outlet Cheddar published Aug. 15. When asked about Binance’s return to operations in the U.S., Zhao said:
“I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”
“The team is set to host their first live AMA on 17th August to answer all your questions!”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
So the support line created by the previous low has been broken and as predicted, the drop has continued on the STEEM. We have no real support now at these levels. We are having currently at little bounce but if we cannot go higher than the line that we just broke, I expect that it is just a pull back before the drop continuation.