Major crypto/blockchain news of the day summarized in a way that you don’t miss a single news without having to spend a lot of time.
1. Bitcoin Slips to One-Month Price Lows Below $8,000
Having dropped to one-month lows below $8,000, bitcoin is now eyeing the first test of a key average support, now at $7,714, since April. The top cryptocurrency by market value fell more than 2.4 percent in the 60 minutes to 08:00 UTC today to hit a low of $7,875 – a level last seen on Oct. 25, according to Bitstamp data. The drop marked a downside break of a 48-hour narrowing price range seen above $8,000. Notably, with a slide to levels below $7,900, bitcoin has erased 80 percent of the rally from $7,293 to $10,350 seen in the second half of October. Read More
2. The Surprising Reason Why Blockstack Could Be America’s First Crypto IPO
Blockchain startup Blockstack is currently evaluating how to issue new tokens for general miners. “The issuance of new tokens is the main issue here,” Blockstack CEO Muneeb Ali told CoinDesk. “Because within the U.S. we’re treating STX [tokens] as securities, if new tokens are being minted by the protocol and they’re being released in the ecosystem, we need a legal framework for them.” That framework could include an initial public offering (IPO), he said. Read More
3. German Bank Boosts Bitcoin – Negative Interest Rate Hits Every Account
Bitcoin-cautious Germany has seen its first bank demand that ordinary savers pay it to hold their money — even as little as €1. According to multiple local press outlets including the Süddeutsche Zeitung on Nov. 19, the Volksbank Raiffeisenbank Fürstenfeldbruck (VRF) in Northern Bavaria is now charging 0.5% negative interest rates on the smallest deposits. Read More
4. LG and Kakao Partner to Bridge Public and Private Blockchains
LG’s IT affiliate LG CNS and the blockchain subsidiary of Kakao, Ground X, are partnering to bridge public and corporate blockchains. The Korea Herald reported on Nov. 21 that the two companies agreed to develop mutually compatible infrastructure.The head of LG CNS’ future strategic business division, Ha Tae-Seok, and Ground X CEO Han Jae-Seon attended the formal signing ceremony at the LG CNS headquarters in Magok, Seoul. Read More
5. Bitcoin Miner Canaan’s IPO Nets Just $90m After Losing Banking Partner
Bitcoin (BTC) mining giant Canaan Creative has raised $90 million in its initial public offering (IPO) — over 75% less than expected. According to Bloomberg, which quoted filings from United States regulator the Securities and Exchange Commission (SEC) on Nov. 20, Canaan sold 10,000,000 shares for $9 each. Read More
