🔴 Fake News Moves Market | This Week in Crypto – Sep 20, 2021

Fake Walmart news
crashes the crypto market, Revolut pays for office space in Bitcoin and a statue for Satoshi. 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. A press release claimed early this week that Walmart had partnered
with popular altcoin Litecoin. The news was widely celebrated
by crypto fans, and the price of Litecoin along with the rest of the crypto market
surged heavily in minutes. However, within an hour, both Walmart and the Litecoin Foundation
denied any relationship, that news quickly crashing the market. The cryptocurrency-infused financial
tech company Revolut has announced it has purchased
a Wework office with bitcoin. Revolut detailed that the office space
in Dallas, Texas will house 300 employees to prepare
for the company’s U.S.

Expansion and will be designed to facilitate
collaboration and teamwork with around 70 percent of the office space
devoted to collaboration. Interactive Brokers Group will soon allow its customers to trade
and purchase cryptocurrencies. The company has formed a partnership
with Paxos Trust Co. that will ultimately give its clients
access to four major digital currencies: Bitcoin, Ether, Litecoin, and Bitcoin Cash. With about 1.5 million customer accounts, Interactive Brokers cultivates an active
and seasoned clientele. China’s Hebei province is the latest
to comply with the capital city of Beijing in working to oust crypto miners and adhere to the nation’s goal
of being “carbon neutral.” Regulators in the province say that those
engaged in digital currency mining must either end their projects
or leave the region by the end of month.

The majority of South Korea’s
cryptocurrency exchanges will likely shut down by next week, as operators race
to meet stringent new rules from the country’s financial watchdog. All exchanges operating in South Korea
must now obtain licenses, but most of those exchanges have not yet
received final approval with the licensing deadline
quickly approaching. Solana, a rival blockchain network
to Ethereum and one whose native currency has surged
in value recently, was down for a day making its SOL token
experience sharp price fluctuations.

Reportedly the outage occurred
as a result of resource exhaustion’ meaning the network became overwhelmed when transaction load reached
400,000 transactions per second, effectively crashing the system. Time magazine has named Ethereum
co-founder Vitalik Buterin one of the most influential people
of the year. Buterin’s profile cites his role
in building the Ethereum network to a market capitalization
of more than $400 billion and encouraging the development
of decentralized apps and non-fungible tokens, or NFTs. Buterin is named alongside musicians,
world leaders, and activists. A bronze statue paying homage
to the anonymous creator of Bitcoin has been unveiled in Hungary
in a technology park, which is also home to a monument
of Apple’s founder Steve Jobs.

It is the first in the world to honour
the mysterious Satoshi Nakamoto, a pseudonym for Bitcoin’s inventor,
whose identity is yet unknown. That’s what’s happened
this week in crypto, see you next week. If you've enjoyed this video,
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