Crypto users rally round WikiLeaks founder
In a Crypto-themed twist to the news of the dramatic arrest of WikiLeaks founder Julian Assange at the Ecuadorian embassy in London, cryptocurrency users rallied to donate Bitcoin (BTC) to his organisation. Currently, nearly six BTC, worth about US$30,000, have been donated.
This week has seen consolidation across the cryptocurrency markets after what was possibly the best week in 2019. Bitcoin is trading at $5,150.28, after being rejected from $5,400, the year-to-date high. The price has just held above $5,000 and well above the 200-day moving average, which rests at $4,500. Ethereum is at $167.01, after dropping from a $185 high.
The head of the International Monetary Fund (IMF), Christine Lagarde, has revealed, speaking to CNBC, that she believes cryptocurrencies and blockchain technology are “clearly shaking the system”, and forcing changes in the financial industry.
One giant reportedly taking advantage of these technologies is Facebook, and according to New York Times reporter Nathaniel Popper, the company is looking for ‘as much as $1bn’ in funding for its own cryptocurrency project.
Meanwhile, Coinbase has launched a debit card that lets its users spend cryptocurrency wherever Visa is accepted. The ‘Coinbase Card’ is currently only available for UK customers, although the company plans to add support for ‘other European countries in the coming months’.
Privacy-centric messaging app Telegram has reportedly entered its Telegram Open Network (TON) in a private testing phase this week. The app raised more than $1.7bn in an initial coin offering last year to develop TON, and plans on introducing the ‘first mass-market cryptocurrency’ via the app, called the Gram.
Finally, Arthur Hayes, chief executive of crypto-derivatives exchange BitMEX, has revealed that he is considering issuing some kind of short-term Bitcoin bond, which could see riskier borrowers price themselves against “the rock-solid companies in the ecosystem”.
Hayes argued that the move would help BitMEX achieve its goal of becoming “the largest and most profitable exchange in the world” as fixed income markets are larger than FX markets.