Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

The most important crypto news of the week

3 min read

The most important crypto news of the week

Amazon Accepts BTC – Or Not; Tesla and Elon Musk are bullish; Tether in the crosshairs of the investigation and the Robinhood IPO. This is the top news of the week.

Most important crypto news of the week

Another exciting week in the crypto space is drawing to a close. The most important events around BTC and Co. in a compact overview.

Amazon accepts BTC – or it doesn’t

Buy rumors, sell facts – this truism trading wisdom comes to mind when looking at the BTC rate and the news situation surrounding it. After insider rumors about an upcoming BTC integration by the online giant Amazon had spurred the crypto courses on July 26th, the signs were already one day later on disillusionment again. Like the news agency Bloomberg reported, the company denies that it is already considering specific cryptocurrencies as a means of payment. However, this is exactly what the insider who told the London news portal said City AM cited on July 26th. Regardless of this, bullish investors were able to take advantage of the hour to raise the BTC price from around 30 to around 40,000 US dollars. A level that the course holds up to the time of writing – despite the crypto cancellation by Amazon.

Tesla publishes its quarterly figures – and Elon Musk is bullish

Not even a week after his comments on “The B-Word”, Elon Musk apparently finds its way back to old form. So the Tesla CEO set the Twitter machinery going again and lived up to his name as “Dogefather”. Over the past weekend, the multi-billionaire posted a series of memes on his account. Of course, a contribution to his favorite coin DOGE could not be missing.

Meanwhile, his company Tesla published the quarterly figures – and announced big profits. And this despite the fact that BTC investments are pulling the balance down.

Tether in the crosshairs of the investigation

Tether executives are reportedly facing an investigation by the U.S. Department of Justice Department of Justice (DOJ) faced. The prosecutors want to take a close look at the company’s past activities with its banking partners, as if from one Bloomberg report emerges. In its article, the news agency mentions three anonymous informants who are familiar with the matter. The DOJ is investigating whether the banks knew about the crypto-based transactions being carried out by Tether.

IMF is critical of El Salvador

The President of El Salvador Nayib Bukele is not just making friends with his plan to introduce BTC as the official national currency. The skepticism among his compatriots is high, but this is more due to ignorance about the crypto currency and its connections. The International Monetary Fund is also not impressed by the plans to make a cryptocurrency the official currency of a state.

A Blog post from Tuesday of this week such an undertaking is viewed critically, even if the plans from El Salvador are explicitly not mentioned there. You can find out all the information here.

Robinhood IPO goes wrong

The stock market debut had certainly been imagined differently in Sherwood Forest. The stock of the online broker Robinhood, which was issued at 38 US dollars, smeared when it started trading on the Nasdaq by around 8.3 percent and ended at $ 34.82. The daily low was even at 33.35 US dollars, which meant a loss of a full 12 percent. And that, although the shares were already much cheaper in the trade than originally planned. Because actually Robinhood had aimed for an issue price of 42 US dollars per share and thus an overall valuation of around 35 billion US dollars.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *