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Weekly cryptocurrency recap: What happened last week?

Updated: Jul 25, 2024
Published: Jun 9, 2019
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Every week we will be providing a recap of the biggest stories from the past 7 days...

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  • BTC flash crash sees price hit $87 on Kraken: The XBT/CAD pair suffered heavy manipulation on Kraken, sending the price to 118 CAD (Canadian Dollars)
  • Crypto Exchange LocalBitcoins “stops” accepting cash for Bitcoin: Rumors surfaced that the Helsinki-based cryptocurrency exchange no longer was taking cash in exchange for Bitcoins.
  • Justin Sun announces “Big Win” for the blockchain community: Tron founder, Justin Sun, was able to secure a dinner with “anti-Bitcoin” legendary investor Warren Buffet in exchange for millions of dollars.
  • The multi-billion-dollar EOS platform, Block.one could be Facebook’s next rival: EOSIO started a new blockchain-based social media platform called “Voice” possibly rivalling today’s most popular platforms.
  • John McAfee rolls out his own cryptocurrency: Freedom Coin: The presidential campaigner John McAfee is very well-known in the cryptocurrency-space for a variety of reasons. He recently announced the launch of a “zero cash-in” cryptocurrency.
  • Binance currently testing a GBP backed stablecoin: Top cryptocurrency exchange, Binance, may soon be rolling out a GBP stablecoin, opening more doors towards global adoption.
  • Apple open their arms to crypto in iOS 13: In the recent WWDC event, Apple announced the new features that iOS 13 will include. Two important crypto-related features were announced, features that can be considered meaningful for crypto-adoption.
  • Former Mt. Gox CEO re-enters the blockchain scene: Mark Karpeles may re-enter the blockchain space with a new venture with Tristan Technologies Co. after years of court hearings for the infamous Mt. Gox hack. He is ready to “start from zero”.
  • Bitcoin SV is a “complete scam” says Vitalik Buterin: Ethereum founder calls out some of Bitcoin SV's features “stupid” ideas. During the interview, Vitalik, unafraid of sharing his views, goes as far as criticizing top crypto-exchange Binance.
  • Benfica becomes the first European club to accept crypto: Portuguese football team, Benfica, announces their online merchandise will become available for sale in exchange for cryptocurrencies.
  • HSBC customers report blocks on crypto transactions: Many credit card providers banned crypto-purchasing on credit in 2018. However, recent reports point at multiple banks blocking crypto-purchases with debit cards.
  • Uncovering a reality: China is currently dominating the USDT market: Two recognizable crypto-research and investigation companies, Diar and Chain analysis, have announced their recent findings of where the most USDT volume stems from. Surprisingly, the country found had banned cryptocurrency usage and trading in 2017.
  • India proposes 1-10 year jail term for those who mine, buy or sell cryptocurrencies: India may soon clamp down harder on cryptocurrencies. Banning any type of crypto-activity and possible jail time for those found “guilty”.

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