POKKET Weekly News: The Week In Crypto (13–19 Jul)

A quiet week for the crypto markets, as Bitcoin and Ethereum prices barely moved with low volumes. Bitcoin stayed around $9,200 for most of the week, only moving in $200 range, while Ethereum only traded in $10 range. Altcoins started to quiet down as well, with only few alts making big jumps. The low volatility environment can be seen reflected on our interest rates.

In other news, a massive Twitter hack targeting over 130 popular accounts including Bill Gates, Jeff Bezos, Elon Musk, Barack Obama, Binance CEO Changpeng Zhao, as well as major crypto exchange accounts resulted in about $120,000 Bitcoin scam on Tuesday. The FBI launched an investigation into the hack, but apparently Twitter’s internal Slack channel was to be blamed, according to an interview with the hackers by the New York Times.

While you’re at it, check out our interest rates including our top 10 earning tokens below.

Here are this week’s highlights

Hackers Tell the Story of the Twitter Attack From the Inside

Several people involved in the events that took down Twitter this week spoke with The Times, giving the first account of what happened as a pursuit of Bitcoin spun out of control…

Singapore & JPMorgan to Rollout Blockchain-powered Payments Platform

Singapore’s central bank says its prototype blockchain-powered cross-border payments network is now ready for commercial rollout. As previously reported, the Monetary Authority of Singapore (MAS) began “industry testing” for its new solution with JPMorgan and the state-operated Singaporean holding company and investor Temasek late last year…

Bank of Thailand Enters Third Phase of CBDC Development; Now “Using CBDC with Big Businesses”

The Bank of Thailand (BOT) announced Wednesday that is has entered third-phase development of its central bank digital currency (CBDC). The report by The Nation of Thailand quotes Vachira Arromdee, BOT assistant governor saying the central bank is already using the CBDC for financial transactions with a number of big businesses…

Japan’s Biggest Bank to Launch Digital Token Before End of FY2020

The Japanese financial giant Mitsubishi UFJ Financial Group (MUFG) is set to issue its own long-awaited digital currency “in the second half of the current financial year,” said its CEO. Speaking to Mainichi, the company’s CEO Hironori Kamezawa stated that the token had experienced no shortage of delays, but added that the ongoing coronavirus pandemic could necessitate an ahead-of-schedule launch for the token – with the country actively searching for alternatives to cash…

Sign of ‘Retail Frenzy’ as DeFi Token Sale Gets Oversubscribed 46 Times

A new initial exchange offering (IEO) on crypto exchange Gate.io has recently raised eyebrows in the crypto community with a sale that got reportedly oversubscribed a whopping 45 times. The token in question is the Meter Governance Token (MTRG) from a project known as Meter, which describes itself as “a DeFi [decentralized finance] infrastructure with the first crypto native low volatility coin” and a “permissionless alternative to Libra.”…

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