"He who has a why to live for can bear almost any how.”
- Friedrich Nietzsche
Happy Wednesday, CoinMarketCap fam! Time of the day for your daily crypto news! 😬
Today in history (1945), Imperial Japan surrendered unconditionally to the Allies, thus officially ending WW II. The day came to be know as V-J Day, also known as "Victory over Japan Day". 🏳️
In today's newsletter, we will be covering Barclays bank reportedly cutting ties with Coinbase, payment solution Flexa expanding to the Canadian market and Samsung adding Bitcoin (BTC) support for its decentralized app store.
Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say. 💭 Happy reading! 📚
Pushed back 📉
Over the weekend, total market capitalization slid from ~$294.1 billion to ~$278.1 billion, with most coins seeing losses in the ~2-7% range. 24-hour volume registered ~$50 billion.
BTC is currently trading at ~$10,510, down ~6.75% over yesterday. After failing to hold its 21-day EMA line on the daily chart yesterday, BTC is now trading below it and is testing the 50-day EMA support. RSI level is at ~44, after dropping from yesterday's ~50. Also on the daily chart, the MACD line has just dropped to the downside of the signal line, so we could see further bearish movement in the coming days.
Cutting ties 😔
According to crypto news outlet Coindesk, Barclays bank has reportedly cut ties with major crypto exchange Coinbase, severing a relationship that began when Coinbase opened a Barclays account in March 2018.
This development may end Coinbase users' access to the U.K.’s Faster Payments Scheme (FPS) and slow the exchange of cryptocurrencies for British pounds sterling significantly. 💸
The exact reason for the split is still not yet known, but an anonymous source speculated to Coindesk that "Barclays’ risk appetite has contracted a little" with regard to its "comfort level with crypto as a whole.”
Coinbase will continue its access to U.K. banking through Clearbank, a younger and less established entity.
Makin' money moves 😋
According to an official blog post, payment solution Flexa announced that it has expanded to the Canadian market through a partnership with Canadian cryptocurrency exchange, Coinsquare. Flexa is backed by crypto exchange Gemini, and has all its funds insured and custodied by it. 🤝
Flexa is the creator of the SPEDN cryptocurrency wallet, which processes regular purchases in cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) or native token Flexacoin (FXC). SPEDN is now available to Canadians on both iOS and Android, and is projected to onboard 7,500 Canadian merchants by early September. Canadian and U.S. users can also use SPEDN in either country free of conversion fees or exchange rates issues.
According to Flexa's co-founder, Tyler Spalding, it plans on launching in a few more countries by the end of 2019 and onboard more coins. He also anticipates "considerable growth of ‘spendable cryptocurrencies’ like stable coins and loyalty coins over the next year that will drive consumer demand for spending”. 🔮
The pieces are falling into place 😊
Samsung has added Bitcoin (BTC) support to its decentralized app store, Blockchain Keystore. The Keystore now supports Bitcoin as well as Klaytn, the cryptocurrency released by Kakao. 🙌
Samsung’s Blockchain Keystore is currently supported by 6 of its devices (Galaxy S10e, S10, S10+, S10 5G, Note10 and Note10+) across 6 jurisdictions (Canada, Germany, South Korea, Spain, Switzerland, the United States and the United Kingdom)
The Keystore was first released in July 2019 as part of Samsung’s blockchain and decentralized application (DApp) Software Development Kit (SDK), which provides account management as well as backup, payment and digital signature facilitation.
A tree structure in cryptography, in which every leaf node is labelled with the hash of a data block and every non-leaf node is labelled with the cryptographic hash of the labels of its child nodes. Hash trees allow efficient and secure verification of the contents of blockchains, as each change propagates upwards so verification can be done by simply looking at the top hash.
Charles Hoskinson, co-founder of the Ethereum Network and current CEO of IOHK, has announced that IOHK-created project Cardano (ADA) is rolling out version 1.6 in a couple of days. 😀
The Dallas Mavericks has become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise. 👍
The Icon Foundation, the group behind the Icon (ICX), is giving away 3 million ICX (~$570,000), in anticipation of its upcoming Public Representative (P-Rep) elections, to token holders who opt to participate in P-Rep voting. 🤑
Crypto calendar 📅
29 Sept - U.S. SEC's decision on the Wilshire Phoenix’s Bitcoin and Treasury Investment Trust ETF application, under the NYSE Arca exchange (initial decision)
13 Oct - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision)
18 Oct - U.S. SEC's decision on the VanEck/SolidX Bitcoin ETF application, under theCboe BZX Exchange(final decision)
"How much do you agree with this statement: "I want to receive part of my salary in crypto""
The average vote was a 8.3.
"Why or why not?"
love to.. will be very happy to receive salary in crypto. also if business is allowed to receive customers payments in crypto it will be great.. we are very near to it. - Yup! If I'm not mistaken, Binance pays its employees in BNB. 😬
Yes, please! I would want it to equal my monthly 401k and matching contributions to be in XRP. - Why XRP! 🤔
What better way to make crypto known. You could automatically designate what percentage you would like to be paid in crypto and how much in cash. Lets make that official! - Yaasss!
I get paid in crypto. This is how i entered the world of cryptocurrency in 2014. Paypal was taking lot of fees and i used to get less salary , so employer gave me the option of geting payed in btc. I had no clue what btc is, and had doubths on it and could not und1erstand it, but opted for it. I used to get more salary money bevause that time btc transactoons costed much lower than paypal. 2017, my salary got stuck in blockchain because miners had lots of btc transactions to approve. Post 3 months i get my salary but it is appreciated in value because of the crypto bull stuff. 2017 i did not follow crypto atall, i only took salary and converted into fiat immediately. I was not invested in btc during dec in boom, missed it, damn!!! Now i get paid in eth, i dabled with investing... Not got profits coz i did not hold, but of late i am holding. I may opt for paypal payment coz my country may ban cryto, i hope it wont come to that though. For now I get paid in eth, and am able to convert it to fiat for my sustainance. I i have holdings in btc, bnc, ltc , crypto.com, pundix , neo and few some amounts in 2 more coins... And also earned steem writing articles which is my investments. If i get money some savings i will also invest and hold eth and link and i am all set to hold... I love cryptos would love to use them rather than keeping them for investments, but since my country is not crypto friendly, there is no practical use for crypto here... I just invest. cryptos been great as cross border payment for my salary stuff, but of late its not that useful with so much regulatory bans on, its been a challenge to be a crypto investor. Its not easy without easy liquidity and in good global market prices, but anyway. But its ok now still. - Wow what a story! Definitely amongst the top ever in the history of this newsletter. I must say I admire your conviction in the space. I am sure your sacrifices will come full circle and you'll be handsomely rewarded. 🤑
I own a rental property and I let my tenants pay with litecoin and bitcoin if they choose to. I would prefer a paycheck in litecoin. - Awesome stuff!
The reason is, the possibility of its value increase from the amount I was paid is possible. - It could go the other way too. 📉
I put my whole check into bitcoin when i get it and have to pay fees, wait on limits that takes days and sometimes wait on a bank to open if its a holiday or weekend. - Good stuff!
Most definitely I'm already committed to buying a set amount of crypto every month. I would be more than happy to be paid this direct as crypto. - Keep that DCA-ing strat going. It's going to pay off! 👍
No, because if you have a family to maintenance you need to have secure money in hand. Crypto is too volatile to trust like that... - Understandable.
why work 40 hrs a wk and be paid with a debt? Rectangles are not assets. BTC / Gold / Silver are real assets that are not IOU's! - True.
Great form of savings .. 20% in crypto per month and just leave it there - Awesome!
I receive 100% of child support from the ex in crypto. - Wow, I must say this is a first. 😂
Will cut out the transferring funds into exchange and moving from exchange. Or using credit card and having that info in one more hackable site. - Agreed.
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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