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Cryptocurrencies are our life! Get an Overview of Market News

23.07. [News of the day] • Binance US is considering an IPO• and other articles

4 min read

Welcome to today’s overview of crypto news:


After Monday’s crash, when the primary cryptocurrency fell below $ 30,000, the bulls retained complete control of the market. The asset was then pushed up. As a result of reports from Elon Musk, the BTC went higher and rose by more than $ 3,000 in one.

After a short retreat, the bulls drove the asset north again a few hours ago, reaching just under $ 33,000. It became its highest price limit since July 15.

From the beginning of the week, the altcoins also went through a similar roller coaster. The largest of them, ETH, fell to just over $ 1,700 on Monday. However, this also reacted well and added more than $ 400 in value in the following days. Earlier today, it recorded an 11-day high of almost $ 2,100.

Technical analysis: Altcoin Index and Shitcoin Index – alts still in an unfavorable situation?

Market overview


Billionaire Thomas Peterffy admits that he invested in cryptocurrencies

Thomas Peterffy, founder and chairman of the board of Interactive Brokers, revealed that he had personally purchased several cryptocurrencies. In addition, the billionaire said his company’s clients are showing a growing demand for digital asset services.

Although Thomas Peterffy said he was still skeptical about the long-term future of this asset class, he noted that there was a chance that it would become a globally dominant currency.

Peterffy’s words meant a change of heart, as he had previously argued that BTC must stay away from the “real economy.” On the other hand, the billionaire, known as the “father of high-speed trafficking,” expressed the view that cryptocurrencies are a great idea, but only if governments and officials allow them to trade and use freely.

Banks, crypto exchanges, companies

Binance US is “considering an IPO,” says CZ

Binance US, a US-based crypto exchnage that operates separately from Binance, is set to go public despite ongoing regulatory action against Binance.

Changpeng Zhao, founder and CEO of the global crypto exchange Binance, spoke at its blockchain virtual summit REDeFiNE Tomorrow 2021 on Friday about its ongoing regulatory issues and future plans.

The CEO expressed his belief that Binance would face tough regulations in the future, noting that the company “is moving from a technological startup to a financial service.” Zhao reiterated that Binance is aggressively stepping up its compliance efforts, including hiring former regulators.

Australian fintech Zip starts buy-now-pay-later cryptocurrency trading

As the latest example of a fintech company trying to infiltrate the cryptocurrency area, the Australian company Zip Pay has announced that it will launch cryptocurrency trading services in the next 12 months, Reuters reports.

Zip co-founder Peter Gray said cryptocurrency trading is one of the most sought-after features for users of the company, which is looking to expand its services to compete with larger competitors in the BNPL (buy-now-pay-later) industry after Afterpay and Klarna. .

The biggest driver of Zip’s growth in the fourth quarter was the United States, where it trades under the name Quadpay. The company plans to rebrand to Zip in the US to strengthen the brand when it launches cryptocurrency trading services there in the next 12 months and in Australia.

CBDC, Regulation

The Bank of India plans to introduce a digital rupee

India plans to introduce digital currency in the country in several phases, said the Vice Governor of the Indian Reserve Bank Sri T Rabi Sankar at a webinar organized by the Vidhi Center for Legal Policy in Delhi.

The central bank is working on a “phrase implementation strategy” and is still considering the basics of digital currency, including whether it should be a retail or wholesale, distributed or centralized ledger, token or account-based and issued by the central bank or commercial banks.

The bank must also update the laws to adapt to the new digital form of legal tender. This includes the sections in the RBI Act concerning the denominations and forms of banknotes, as well as articles in the Coins Act, the Foreign Exchange Management Act and the Information Technology Act.

Electricity bills in China could be paid in digital yuan

According to the local financial media Economic Information Daily, the application of a digital wallet in yuan, launched by the Bank of China, will include a function to pay electricity bills, designed by the state-owned company State Grid.

Users will be able to pay electricity bills through the digital yuan application directly and, unlike other third-party mobile payment applications, will not have to associate the payment with a bank card.

The new feature will be tested in nine cities and regions, including the new area of ​​Xiong’an, Suzhou, Chengdu, Shanghai, Xi’an, Dalian, Changsha and Qingdao, and at the Beijing Winter Olympics in 2022. The electricity bill feature means further expansion of the e-CNY ecosystem and support for the circulation of the new currency in China.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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