“reHash” — Your Weekly Summary of Everything Important in the Crypto World — issue no. 15

Published in

Wanchain

5 min readDec 30, 2020

reHash issued for December 24th to December 30th

Last reHash of the year, and what a year it has been. 3… 2… 1… happy it’s gone kind of year, even if the last two weeks or so have been pretty amazing for Bitcoin (topped at over $28,500 ATH for now). Just like predicted this week has been pretty quiet in terms of news. Here is hoping that 2021 is much better than 2020 (not that it is much of a challenge). Happy new year and fingers crossed that you enjoy what little news was gathered this week!

NOTE:
reHash is not intended to be original journalism. It is intended to be a brief summary of significant articles and events from the past week with links to the original sources. Sources will always be linked and credited. If you know any good newsletters or Twitter accounts which provide news we have been missing, please mention them in the comments!

ADOPTION

Turkey will run a pilot of CBDC in the second half of 2021; “There is an R&D project initiated on digital money. Currently the conceptual phase of this project has been completed. We aim to start pilot tests in the second half of 2021.”; there’s little information more, however that would put Turkey ahead of many other countries, since only a handful other countries ran pilots so far; Lira has fallen down 23% compared to the USD
SOURCE: 1, 2, 3
BitcoinPoint, Cashzone now allows users of it’s 16,000 ATMs to sell BTC in UK; BitcoinPoint and Cashzone have reached an agreement that will allow users access to selling BTC via an app; it is possible to withdraw anything between £10 and £500 in intervals of £10
SOURCE: 1, 2, 3, 4, 5
BlackRock, the largest asset manager in the world, is looking for a blockchain VP; they have approximately $7.81 trillion of assets under management; candidates will be required to “devise and articulate fundamental valuation methodologies for crypto-assets; evaluate game theory and decentralizing governance models associated with blockchain technology,”
SOURCE: 1, 2, 3, 4

REGULATION

The lawsuit that SEC started against XRP has far-reaching consequences; Coinbase, Bitstamp, Bittrex, Crypto.com, OKCoin, B2C2, Beaxy, CrossTower and OSL have delisted XRP for US users and some for all users; Bitwise has liquidated all XRP held in its fund (it was 4% of the fund and approximately $9.4 million); 21Shares removed XRP from all of its ETP products; it is expected that Grayscale might follow suit; MoneyGram — a partner of Ripple has issued a statement that “The Company has not currently been notified or been made aware of any negative impact to its commercial agreement with Ripple but will continue to monitor for any potential impact as developments in the lawsuit evolve,”; another Ripple’s partner -SBI Partner is claiming that XRP is a ‘crypto asset’ in Japan and not a security; the date for pre-trial hearing was set for February 22 at 10 AM;
SOURCE: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11
SEC has obtained Emergency Asset Freeze against Virgil Capital; a court in New York has granted the SEC right to freeze assets under control of Virgil Capital; they allege that Virgil Capital and its managing director defrauded investors and used funds to repay a $1.7 million loan to Chinese loan sharks
SOURCE: 1, 2, 3, 4

DEVELOPMENT

2,111,000 Ethereum has been locked in the beacon chain; its value as of the writing time is over $1.5 billion
SOURCE: 1, 2

GENERAL UPDATES

COVER protocol has been exploited; token price crashed from $731 to $24 (or even a bit lower on Uniswap); the exploit was carried out by a developer from Grap.finance; all the funds obtained from LP have been returned to COVER; Binance has halted token trading of COVER; the attacker has minted 40 quintillion COVER tokens and managed to sell $5 million worth of the token before crashing the price — all profits were later returned
SOURCE: 1, 2, 3, 4, 5, 6
SEC Chariman Jay Clayton has resigned; he has submitted the letter of resignation to US President Donald Trump on the 23rd of December, he held the post for over three years; he was succeded by Elad Roisman as the acting chariman of the SEC; it is very likely, however, that Joe Biden will replace him on the 20th of January when he takes office
SOURCE: 1, 2, 3
1inch a cryptocurrency dex aggregator has distributed over 90 million tokens to the users; tokens represent approximately 6% of the whole token supply; it is a governance and utility token used on the exchange, one Twitter user has barely not qualified for the airdrop with his 500 trades being just below the threshold of $20 per trade at $17 per trade
SOURCE: 1, 2, 3, 4, 5, 6
29 companies now own 5.48% of the total BTC fully diluted supply (21 mil); together they own 1,151,618 BTC, worth over $30 billion; Grayscale has about $16 billion of assets under management; public favorite — MicroStrategy own 70,470 BTC
SOURCE: 1, 2, 3, 4
Barstool Media’s Dave Portnoy is now accepting Bitcoin and cryptocurrency donations for a small-business relief fund; the fund’s aim is to help small businesses impacted by the Covid-19 pandemic; already $5.3 million has been raised to help 14 businesses; more than 53,000 donors contributed; at least $750,000 has been donated in cryptocurrencies
SOURCE: 1, 2, 3

Thank you, as always, for reading and hope to see you next week! We will have news next week too!

About Wanchain

Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in China, the USA, and other team members around the world in Asia, Africa, and Europe.