As always, the previous week has been rich in both: positive and negative crypto news. The market turns red again, Libra keeps everyone’s attention, tragic news from Poland, Justin Sun overdid with talking ’bout his lunch with Warren Buffett, and much more. Here are the main topics of the week:
Table of Contents
Bitcoin Price Has fallen Below $10000
So, BTC started the week at levels above $10,500, but the Father of Crypto completed the week falling in price by almost $1,000 (-9%). Other major cryptocurrencies, by the way, this time sank a little less.
The Curious Case of Justin Sun
Justin Sun, the founder of TRON, keeps attracting the attention to his lunch with billionaire and famous Bitcoin critic Warren Buffett, but not in a good way only… We recall that last week he was supposed to attend a charity lunch with Warren Buffet in San Francisco. However, right before the event, Tron Foundation reported on its transfer due to Sun’s health issues. All of this happened against the background of reports in Chinese media, including the business media Caixin reporting that Justin Sun was forbidden to leave China owing to police investigations around TRON Foundation and the Peiwo social network. The funniest thing is that Justin Sun was in the USA already at that moment. So, before the things got worse, the founder of TRON issued an official apology for attracting too much attention to his personality while promoting the long-waited meeting with Buffett.
Libra Has No Partners Yet
If you’ve missed or forgotten the buzz around Libra, follow this link to get all the updates in a few minutes.
The Swiss Federal Data Protection and Information Commissioner (FDPIC) requested additional information about Libra to help supervise a planned crypto project. According to the Portal of the Swiss government, the request that had been sent to Libra on 17 of July still haven’t got a reply:
Another tricky news about Libra was issued by Visa CEO, Alfred F. Kelly Jr., who stated in the transcript of Visa Q3 2019 earnings that no company from the list of 27 has joined Libra project yet. Actually, they’ve just expressed their interest in the project.
Ripple CEO Writes Open Letter to US Congress
Crypto entrepreneurs are joining forces in order to persuade the US government to loosen its grip against the blockchain and crypto industry. To do that, CEO Ripple Brad Garlonghouse has written an open letter to US Congress in order to unveil the benefits of accepting crypto.
“…digital currencies have the opportunity to complement existing currencies like the U.S. dollar—not replace them.”Brad Garlonghouse, CEO Ripple
No EOS in US
It seems that the US government has embarked in earnest on steering the US economy from cryptocurrencies.
California-based cryptocurrency service Abra will limit some services for US users starting from this August. According to Abra, the company was forced to apply some system modifications due to regulatory uncertainties in the United States. Read the full story in Cointelegraph.
Tragic News from Poland
Co-owner of the recently closed Bitmarket exchange Tobiasz Niemiro was found dead in a forest near the town of Olsztyn in northern Poland. Police says the exact circumstances of the death have not yet been confirmed, but the “Gazeta Wyborcza” publication suggests that 44-year-old Niemiro could have committed suicide.
Poloniex Exchange Heads to Bermuda
To avoid sanctions from US regulators, cryptocurrency exchange Poloniex moved its quoter to Bermuda as soon as it got a digital asset license from the government. This tendency seems to become more popular every day. Suffice it to recall, that last week Apple co-founder Steve Wozniak moved to Malta to run blockchain startup.
US Says “NO”, Iran says “YES”
We’ve already written about Iran government is planning to legalize cryptocurrency mining in order to support the local economy. The law was adopted the previous week. To get more details, read the full story below.
Why Wait for Libra?
Chief executive officer of telecommunications giant Huawei Ren Zhengfei said it’s time for the Chinese government to get ahead of Facebook’s Libra.
“Even China is able to issue such currencies, why wait for Libra? The strength of a state is greater than that of an Internet company.” – stressed Ren Zhengfei.
Crypto Exchange in Thailand from Huobi Group
On July 24 Huobi Group announced that its Thailand branch will launch in Q3 2019 its exchange which will provide crypto and fiat regulated trading services. This is the fifth license the service has acquired for its trading venues.
That’s all the news for today, crypto warriors! Keep up to date with the help of our social media and have a nice swap!