This Week in Cryptos: Facebook, Coinbase, Bitstamp and Pewdiepie Among Major Newsmaker
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Key highlights

  • Facebook is looking for $1 Billion in Funding for Crypto Project
  • Bitstamp Cryptocurrency Exchange Obtains BitLicense in New York
  • Bakkt hires former Paypal and Google executive to strengthen its team
  • Coinbase enters the Crypto- Powered Debit Card Space
  • Pewdiepie Moves to Blockchain-Based Streaming Platform, DLive
  • Lawmakers Reintroduce ‘Token Taxonomy Act’ With Upgraded Version
  • China tightens screws on Crypto mining
Facebook is looking for $1 Billion in Funding for Crypto Project

Well, Facebook and cryptos have again appeared in the same news article and the world seems to have gone crazy over it. This time its Nathaniel Popper, the New York Times’ resident crypto and blockchain reporter who tweeted saying that Facebook is possibility looking big money for its crypto project. The figure happens to USD 1 billion and it is believed Facebook is knocking doors of private equities for its stablecoin project. The money is believed to be used as collateral to back the Facebook stablecoin. But again nothing officially announced by Facebook

Bitstamp Cryptocurrency Exchange Obtains BitLicense in New York

This week, The three year wait for Bitstamp finally came to an end. The Luxemburg based Cryptocurrency Exchange, Bitstamp has obtained a bitlicense from the New York Department of Financial Services (NYDFS). Bitstamp is also one of ten Cryptocurrency Exchange which was cleared of the ‘fake reported volume’ fiasco being identified as one of the authentic Exchanges in the world. The move is driven to increase its presence in the US, and the NYDFS BitLisence is expected to attract the Institutional Investors around the world as well.

Bakkt hires former Paypal and Google executive to strengthen its team

Another flow of talent from the main street to crypto street. This time its Bakkt, a yet-to-launch, a multi-faceted crypto platform backed by the Intercontinental Exchange which also owns the NYSE. According to the latest announcement  Bakkt has hired Mike Blandina, a former employee at PayPal and Google, as its new Chief Product Officer. In an announcement, Bakkt’s Kelly Loeffler also put forward that Bakkt is still working with regulators to ensure the launch of its physical Bitcoin futures contract pans out well.

Coinbase enters the Crypto- Powered Debit Card Space

Coinbase, the flagship crypto exchange of the United States has further diversified and this time it’s into Crypto-powered debit cards, an industry that has remained under questions due to regulatory stringencies. Not many companies have really been successful with this product and Coinbase seems to be here to change the game.  The launch is expected to be in the United Kingdom and this new offering will allow British Coinbase clients to spend their Bitcoin, Ethereum, Litecoin, and many other digital assets in millions of stores and on thousands of online outlets for whatever they may please… within reason.

Pewdiepie Moves to Blockchain-Based Streaming Platform, DLive

Felix ‘PewDiePie’ Kjellberg (Pronounced: ‘PuDeePi’), who hosts the most subscribed channel on Youtube in the world since 2013 will stream live weekly on Blockchain based streaming platform, DLive from April 14, 2019. Felix signed an exclusive deal with DLive, he said in the press release: “I’m excited to start live-streaming again regularly,” said PewDiePie. “DLive is great for me because I’m treated like a real partner.”

Lawmakers Reintroduce ‘Token Taxonomy Act’ With Upgraded Version

Token Taxonomy Act, the bill which was introduced in the year 2018 for the first time to remove crypto from US securities laws- has again reintroduced with upgraded version and better clarity on Tuesday – aiming Congress to approve and signed into law.

China tightens screws on Crypto mining

This week saw the Chinese regulator, the National Development and Reform Commission (NDRC) revealing that it is not really happy with the Bitcoin and cryptocurrency mining industry operating in the country, especially due to the industry’s energy consumption for what they see as little economic. While this news was to give jitters to the crypto community as China is a hub for mining, people who understand it well claim that the regulation (if approved) won’t go into full effect for years, and may not even be all-encompassing.

This Week in Cryptos: Facebook Raising Capital For Crypto Project as Coinbase Enters Crypto-Powered Debit Card Space
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This Week in Cryptos: Facebook Raising Capital For Crypto Project as Coinbase Enters Crypto-Powered Debit Card Space
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Key highlights - Facebook is looking for $1 Billion in Funding for Crypto Project - Bitstamp Cryptocurrency Exchange Obtains BitLicense in New York - Bakkt hires former Paypal and Google executive to strengthen its team - Coinbase enters the Crypto- Powered Debit Card Space - China tightens screws on Crypto mining
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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