This is an email from BT Weekly Crypto News, a newsletter by BearTax.
From bitcoin prices tumbling, SEC threatening to sue Coinbase, and Robinhood launching dollar cost averaging!
1/ Markets: On Sept 7th, major cryptos’ price were in the red:
- $BTC lowest was $42,900
- $ETH tumbled 20% to $3,138
- $ADA token lost 23%
- $UNI token fell by 27%
- $XRP was down by 28%
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2/ SEC Threatened To Sue Coinbase!
Coinbase’s yet-to-be launched ‘Lend’ product aims to provide a 4% APY to customers by lending out $USDC to verified borrowers. However, the SEC has issued a ‘Wells Notice’, threatening to sue the exchange if they launch the ‘Lend’ product.
3/ Robinhood Launches Dollar Cost Averaging!
This new feature allows crypto investors to purchase their favorite coins automatically on daily, weekly, fortnightly or monthly basis. Minimum spend is $1.
4/ UK Post Office to Offer Crypto Purchases
UK Post Office’s EasyID app users can now purchase crypto vouchers from DeX — Swarm Markets, that can be redeemed for $BTC or $ETH on the platform. The integration may expose users to DeFi via Swarm’s yield farming offering.
5/ MasterCard Acquires CipherTrace!
CipherTrace can track 800 cryptos with blockchain forensics tools. Integrating it into Mastercard’s cybersecurity solutions will help businesses identify & understand risks + manage their digital asset regulatory & compliance obligations.
6/ NFT News
a. NFT Sales Plummet: According to Dune Analytics, daily trading volume on the largest NFT marketplace, OpenSea, collapsed from a high of $323 million on Aug 29 to less than $85 million on Sept 8.
b. National Football League prohibited its teams from selling NFTs or sponsorships to crypto trading firms
- Policy allows sponsorships with companies that mainly provide investment advisory/fund management services related to crypto
- Players’ individual ventures appear to be excluded from the rule
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