POKKET: Crypto Market Update (Aug 19)
Bitcoin is flat at just above $45k, ETH is the same at barely holding $3k handle. Movers are SRM +21%, SNM +15%, GTO +12%, FET TRU +9%, BRD -18%.
Robinhood says crypto revenues were $233M for Q2, and 60% of the user base has traded crypto during the period. The company has promised to add more crypto wallets and will list more coins, although not giving any guidance on timing nor the list of proposed listings.
Facebook is gearing up to release it’s own stablecoin wallet, Novi, after almost two quiet years of development since announcing Libra back in June of 2019. Although Libra took a beating and led to the rebranding to ‘Diem’ and ‘Novi’, investors a16z, Coinbase, Uber+Lyft remain faithful to the project and will try to court back Visa, Mastercard, eBay and Stripe.
Twitter’s Jack Dorsey is now mining Bitcoin through Compass Mining, a service which sources and hosts powerful mining rigs at facilities around the world.
The PolyNetwork hack hasn’t made its way out of headlines as the hacker still hasn’t returned the remainder of the $600M, roughly half still outstanding, as ‘Mr. White Hat’ isn’t satisfied with the team’s promises of beefing up security.
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