A must read crypto articles
In the past weeks we have done a story on renound bitcoin bull Michael Novogratz, as he had some fresh comments resulting from the recent hack of the most liquid exchange in the market, Binance. Just yesterday it was reported that Binance’s hot wallet was target by hackers and successfully hacked to the tune of 7074 bitcoins, or around $40 million USD. This shouldn’t scare any investors, who have stored funds on the exchange as it is reported the funds will be covered. Although, the funds only represent 2% of the holdings of the exchange, Novogratz warns this and similar stories could lead to increased scrutiny and regulation.
https://www.ccn.com/billionaire-bitcoin-bull-warns-binance-heist-regulator-scrutiny
🤷🙄In a recent report on Paypal company leadership dishes on bitcoin, while still showing interest in blockchain that they“don’t want to miss out on.” Paypal doesn’t seem to see the interest in retail payments enough to warrant supporting more crypto payments, yet they still understand that there is innovation to be had. After all, for cross boarder large payments, bitcoin is still up to 80x more efficient than many traditional payment methods. Time will tell on how a company like Paypal can or will implement the technology, as they have teams that are currently investigating the matter.
https://www.ccn.com/paypal-skips-bitcoin-while-clearly-working-on-blockchain-and-cryptocurrency
If you’ve been paying attention over the past few weeks, you would have seen a number of rumblings between Elon Musk and crypto. Especially for Ethereum, as he tweeted on April 29th. The prospect of Musk getting involved with Ethereum and Ethereum’s new partnership with Microsoft recently have caused somewhat of a bull run for the currency, with an almost 20% rise recently which is continuing at the time of this writing. Apart from the news it has been predicted based on the support and resistance structures that Ethereum will likely continue its mini bull run here.
https://www.ccn.com/musk-microsoft-and-the-futures-market-10-days-of-ethereum-price-moon
In a piece which is difficult not to cover due to its entertaining nature, Tron’s Justin Sun has latched onto the relevancy of Binance’s hack with a tweet stating how he will deposit $40 million dollars worth of btc and purchase a number of leading cryptos to support them. After Sun’s slew of recent failures to follow through on promises it is difficult to take Sun at his word. Apart from his sincerity, its not clear how much an investment of $40 million would make on their platform, nor for clear how long the funds would remain on the exchange. This recent hack only highlights the heightened need for a decentralized exchange that they have been working on.
https://www.ccn.com/tron-justin-sun-btc-hacked-binance
In another bullish comment, which is not totally unlike what Elon Musk teased with Ethereum, Prince Charles of England was recently quoted as saying he thinks “blockchain is very interesting” in response to how he feels about cryptocurrency on a trip to Berlin. Although the English royal family has been very quite about crypto, the UK government has been more conservative; a stance that has been interpreted as being negative. The UK could be particularly interesting to watch as their relationship with greater Europe develops.
https://cointelegraph.com/news/prince-charles-recalls-he-thinks-blockchain-is-very-interesting
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