4C Newsflash of July 12

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Market Cap at 1:00 (UTC) – $319,613,201,489 billion 

Bitcoin dominance: 65.1% 

BTC $11,685.54 (+ 0.20%) 

ETH $275.71 (+1.10%) 

XRP $0.344246 (+2.45%) 

Binance launches margin trading 

On July 11th, Binance opened margin trading for customers with 3x leverage. In the beginning, Binance customers are able to leverage their trades with 6 assets: BTC, BNB, ETH, XRP, USDT and TRX. 

Poloniex allows users to buy crypto using bank account and credit card. 

On July 9th, Poloniex published an update stating that Poloniex users can start connecting their bank account and credit/debit card to buy crypto. By connecting to bank account, the exchange will automatically convert the money into USDC and when user want to withdraw their money, the exchange will also swap USDC into local currency spontaneously. Furthermore, by partnering up with Simplex, customers can use their credit/debit card to buy Bitcoin with a 3.5% fee. However, if the user buy Bitcoin amount worth less than $300, the fee will be increased accordingly. 

Metropolitan Bank closes down Tether’s account. 

Accoding to Coindesk, a spokesperson from Metropolitan Commercial Bank told them that the bank closes down Tether’s account 5 months after being opened. Additionally, he also reported that there weren’t many activities in the three accounts (iFinex, Tether and Digifinex). Furthermore, a recent documentation shows that Tether not only opened account in Metropolitan Commercial Bank but also Signature Bank. On a side note, a spokesperson from Signature Bank doesn’t have any comment on the matter. 

SEC approves Blockstack’s token sale. 

Blockstack recently shared an announcement stating that SEC has approved their token offering under Regulation A+. Under the Regulation A+ framework, Blockstack will conduct a $28 million token sale on at 11:00 EST Thursday, July 11st and the token is called Stacks (STX) which worth $0.3/token. Plus, voucher holders will be able to buy STX at $0.12/token. The minimum amount of STX can be purchased is $100. STX will be used to register digital assets like domain names, write and enact smart contracts, and process transaction fees on the network. The token sale will be a first come, first served offering. Additionally, investors come from the following areas will not be able to buy STX: Canada, Japan Arizona, Nebraska, North Dakota, Texas and countries listed in U.S. Office of Foreign Asset Control’s sanctions programs. At the moment, STX hasn’t been listed on exchange. 

IGA to accept crypto 

According to Nugget’s News, TravelbyBit is collaborating with IGA Supermarkets Australia to equip each supermarket with a PoS which allows crypto payment. Initially, TravelbyBit will allow customers BTC, ETH, LTC and BNB to pay for their goods. 

Turkey to issue CBDC 

According to the recent document, The Eleventh Development Plan, the paper states that a blockchain-based digital currency will be implemented between 2019 and 2023. Additionally, the government will encourage legal and technology infrastructure for blockchain and the government also states that blockchain will be used as one of the few approaches to enhance public services.

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