🔴 Amazon Rumors Peak Bitcoin | This Week in Crypto – Aug 2, 2021

Amazon crypto rumors send BTC over $40000, Tether executives facing criminal charges and more people traded Ether
than Bitcoin this year? These stories and more this week in crypto. Hi, I’m Nate Martin from 99Bitcoins.com, and here’s what’s happened
this week in crypto. Reports emerged early this week that Amazon was allegedly looking
to accept cryptocurrency for payments in the future. Following the news,
Bitcoin rose beyond $40,000, though trading excitement later calmed down once it was revealed that the initial reports
were based on rumors and that Amazon is not yet looking
to accept BTC. Executives behind popular stablecoin Tether
are potentially facing criminal charges following a probe that suggests they deceived banks
and financial institutions.

The Department of Justice (DOJ) has claimed
that Tether possibly committed bank fraud by hiding the fact that its transactions
were largely linked to crypto and not USD. Binance—one of the world’s largest
crypto exchanges— is working to limit activity
amongst unverified users. Customers that do not engage
in the platform’s KYC protocols will only be permitted to withdraw 0.06 BTC, a major drop from the previous figure
of 2 BTC. Customers who are willing to upload
supporting documents can withdraw up to 100 BTC daily. Payments provider PayPal revealed that the initial version
of the company’s super app wallet was “code complete” and the wallet will be fully ramped
in the United States in the next several months. The super app wallet will feature
high yield savings, early access to direct deposit funds,
messaging capability, and additional crypto features. Wall Street investment bank Goldman Sachs
filed with the SEC to launch the first ever DeFi ETF. The fund would invest at least 80%
of its assets into companies that advance
blockchain technology and the digitization of finance. The SEC is now reviewing more than
a dozen crypto related ETF applications with delayed decisions on several of them.

Coca-Cola is selling a series
of four non-fungible tokens (NFTs) that will be sold as a single asset with proceeds benefiting
Special Olympics International. One feature specific to this NFT launch
is that the digital assets can be worn within the virtual world Decentraland and Coca-Cola will even host
a “Rooftop Party” on the platform to celebrate the launch. E-commerce giant Shopify
has made it possible for eligible sellers to sell NFTs directly using a credit or debit card
on its platform. One of the first Shopify merchants
to offer NFTs will be the Chicago Bulls, which launched an NFT “Legacy Collection” featuring the franchise’s
six world championship rings. Figures from some of the world’s largest
cryptocurrency exchanges suggest Ether trading in the first half of 2021
outpaced that of Bitcoin. While ETH volume surged
by more than 1,400 percent during the first six months, BTC lagged by comparison, with the asset’s trading volume surging
only by 489 percent during that same period.

That’s what’s happened
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