Hello! Welcome to our TradeSanta’s weekly digest. The biggest stories of the past week in cryptocurrency and blockchain are collected right here. Here they are:
- Ex-Microsoft employee arrested for stealing over $10 million in crypto assets;
- The Japanese government plans to create an international platform which can substitute SWIFT;
- Facebook faced more than 5 hours of questioning from US lawmakers over its new cryptocurrency.
Cryptocurrency Market Stats
Total market capitalization of all cryptocurrency assets dropped to 284 billion USD. Check the last week’s results in the table below.
|Stat||Value (7d change)|
|Market Cap||$ 284 474 226 635 (-1.79%)|
|Markets||19 478 (+0.75%)|
|Cryptocurrencies||2 364 (+1.72%)|
|BTC Dominance||65.3% (-0.5%)|
Major Coins’ Price Stats
According to the Coinmarketcap data, BTC and XRP increased by the end of the week. ETH on the other hand slid down by 0.85%. Check more details below.
|Coin||Close||7d Gains||7d High||7d Low|
|Bitcoin||$10 599.11||+3.34%||$11 052.77||$9 163.13|
Quote of the Week:
Fundstrat Global Advisors co-founder, Tom Lee: “As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in Bitcoin has not been accompanied by massive hype.”
In Case You Missed It:
- Ex-Microsoft employee accused by federal prosecutors of stealing gift cards and large sums in digital currency from the company. He had stolen $10 million and then bought $1.6 million house and $160,000 Tesla car. According to the Department of Justice announcement, he was sentenced to 20 years in prison and $250,000 in fines. The fraudster was involved in the testing of Microsoft’s online retail sales platform, and used that testing access to steal cards.
- The Japanese government plans to create an international platform which can replace SWIFT system. According to Reuters, the network will be established in only a few years. The plans weren’t announced, but the country’s government intends to share the platform and cooperate with other countries.
- Facebook faced with questioning from US lawmakers over its new cryptocurrency Libra. This hearing showed deep skepticism over the company’s possibly entering the banking world after several privacy scandals. The US House financial services committee asked the Facebook executive David Marcus about storing users data, challenging its purported goals of bringing banking services to underserved populations, and demanding more accountability to regulatory bodies. According to The Guardian, the hearing showed that Facebook does not yet have a clear path to Libra’s release. The Democratic representative Carolyn Maloney told Marcus that the creation of a currency was a core government function, adding that: “I don’t think you should launch Libra at all.”
That’s all for now. We hope that our digest will be helpful for you. Don’t forget to subscribe, and stay tuned for new articles in TradeSanta blog!