Daily Crypto NewsEDITION #63, 28 October 2020

Singapore goes into crypto

Hey #Moni Maker 🙃

Today, in 1955, Bill Gates, an American entrepreneur, and public figure, founder of Microsoft Corporation, was born. Bill made a huge contribution to the development of society - both from a technological and social standpoint. We could go search his closet looking for skeletons, but we are not those types of guys. The main thing is that many of us couldn't have read (or even prepared) this digest had it not been for Bill. So let's wish him success in all his (positive) undertakings, and we, my friend, will better go check out the digest 😉

DBS Bank, the largest bank in Singapore in terms of assets under management, launches its own cryptocurrency exchange supporting BTC, BCH, ETH, XRP, and fiat currencies such as American, Singaporean, and Hong Kong dollars and Japanese yen.

In addition, DBS Bank representatives announced a DBS Digital Exchange-based Security Token Offerings (STO), which will allow companies to raise funds through cryptocurrencies while meeting all regulatory requirements.

So what?

Catch an idea, musicians - write a song about mass adoption and wait; apparently, you can hype on such a project very soon 😉

JPMorgan has released their stablecoin; thus, JPMorgan CEO Jamie Dimon has moved to the next stage of accepting crypto.

In 2017, the bank's CEO Jamie Dimon called Bitcoin a "Fraud" and compared it with tulip mania. In 2018 Dimon said that Bitcoin is not a fraud, but it should be treated with caution.

In 2019, JPMorgan still resisted, and in August 2020, bank's representatives said that old people choose gold, but the younger ones choose Bitcoin!

In October, they released a report, which stated that Bitcoin is several times better than gold, and the first crypto is set for a tenfold growth.

And now, they release JPM Coin, which will be used for cross-border payments. Especially for blockchain and digital assets management, they have launched a separate unit - Onyx.

So what?

Scam - Be careful with it - Where to buy crypto? - Here is my token!

4 stages of crypto acceptance, did we miss anything?

Of course, with the help of Bitcoin! On Monday, 88,857 BTCs worth over $1.19 billion were transferred in one giant transaction, and the commission was only $3.74.

So what?

Now imagine how much trouble you would have doing the same with banks.

According to Glassnode, the number of addresses with more than $1 million in BTC equivalent has exceeded 20,000. This is the highest figure since January 2018, when the Bitcoin price was around historical highs.