OTC’s Weekly Retrospect 26/11–2/12/2022
Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.
Published in
2 min readDec 2, 2022
Major news stories this week;
- Central Banks and Bitcoin: Closer Than You Think
- Binance Launches Proof-of-Reserve System for Bitcoin, Ethereum ‘Coming in The Near Future’
- El Salvador Proposes Digital Securities Bill, Paves Way for Bitcoin Bonds
- Fidelity Begins Opening Retail Bitcoin Trading Accounts
- Bitcoin Will Come Out of Bear Market ‘Smelling Like a Rose’: ARK Invest’s Cathie Wood
Story Summaries;
- Amid the turmoil of the last few weeks, it’s easy to lose sight of what our industry is about: independence and innovation. These two fundamental drivers of prosperity and progress are not unique to crypto — but only in crypto are they entwined and embodied in liquid assets.
- Binance, the world’s largest crypto exchange by trading volume, released its proof-of-reserves (PoR) system today, which it said “is the next step in its “commitment to transparency and fostering trust in the ecosystem.”
- El Salvador’s national assembly is considering a draft bill to regulate digital securities, indicating the country is going ahead with plans to issue bitcoin-backed bonds.
- Fidelity, one of the world’s largest financial services providers, has officially started opening retail bitcoin trading accounts. Certain users, have received an email detailing the release, which stated that “the wait is over.”
- While stating that Bitcoin will come out of the market downturn “smelling like a rose,” Wood says that institutional investors will be more comfortable putting money in the flagship crypto asset and Ethereum (ETH) once they better understand them.
