Crypto banks could join the central banking system, Huobi’s stablecoin briefly loses its peg, and Bitcoin now has over 1 billion unique wallet addresses. These stories and more this week in crypto.
Sudden Crypto Crash Takes Bitcoin Below 21,000
Bitcoin fell to its lowest level in three weeks, dipping below $21,000 amidst a sudden sell-off across the broader crypto market. It’s not clear what caused the drop in crypto prices as the move comes just days after Bitcoin surpassed the $25,000 mark for the first time since June.
Central Banking System Could Embrace Crypto Banks
The Federal Reserve has provided guidance for innovative financial institutions to access its master accounts and participate in the global payment system. This seemingly moves the US Central Bank closer to allowing crypto neobanks unfettered access to the central banking system, eliminating the need for them to do business through intermediary banks.
Huobi’s Abandoned Stablecoin Became Unstable
HUSD had serious...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...