Content
- FAQs
- 1. What Were the Notable Developments in the Cryptocurrency Market for the Week of October 9th, 2020?
- 2. How Does Square's Investment in Bitcoin Reflect the Trend in Corporate Adoption of Cryptocurrencies?
- 3. What Implications Could the U.S. Congress's Report on Antitrust Reform Have on Decentralized Networks?
- 4. How Is Blockchain Technology Being Utilized in Climate Emissions Tracking?
- 5. What Does SBI's Acquisition of TaoTao Indicate About Traditional Finance Leaders' Interest in Digital Currencies?
9 Oct, 20
Weekly Crypto Market Wrap #40, 2020
- FAQs
- 1. What Were the Notable Developments in the Cryptocurrency Market for the Week of October 9th, 2020?
- 2. How Does Square's Investment in Bitcoin Reflect the Trend in Corporate Adoption of Cryptocurrencies?
- 3. What Implications Could the U.S. Congress's Report on Antitrust Reform Have on Decentralized Networks?
- 4. How Is Blockchain Technology Being Utilized in Climate Emissions Tracking?
- 5. What Does SBI's Acquisition of TaoTao Indicate About Traditional Finance Leaders' Interest in Digital Currencies?
Welcome back, Friday! This week one of Zerocap’s principals Jon was featured on Forkast News discussing how Bitcoin offers a hedge as markets reach peak dislocation. Go check it out!
We published an article on the emergent Asian wealth this century, covering the rise of the continent and how digital assets fit into the portfolio of contemporary Asian investors.
Some news that caught our eye this week:
- Square just announced that it has purchased $50M in bitcoin, stating “Square believes cryptocurrency is an instrument of economic empowerment and provides a way to participate in a global monetary system, which aligns with the company’s purpose.” Has MicroStrategy’s $425m investment opened the floodgates?
- US congress released a massive 450-page report on the need of antitrust reform for the Amazon, Apple, Facebook and Google monopoly. If successful, the plan will greatly leverage the use of decentralised networks.
- KPMG unveiled blockchain solutions to track climate emissions. The strategy opens up a new realm of practice for the technology in a more-than-essential branch of scientific research.
- Japanese financial giant SBI acquired TaoTao, its second digital assets exchange. The deal shows a trend in traditional finance leaders moving into the market of digital currencies.
For more news and insights including our report on bitcoin as an essential asset in portfolios during the current crisis and beyond, visit www.zerocap.io.
FAQs
1. What Were the Notable Developments in the Cryptocurrency Market for the Week of October 9th, 2020?
Answer: Major developments included Square’s purchase of $50 million in Bitcoin, reflecting a belief in cryptocurrency as an instrument of economic empowerment. The U.S. Congress released a 450-page report on antitrust reform for tech giants, potentially leveraging decentralized networks. KPMG unveiled blockchain solutions for tracking climate emissions, and Japanese financial giant SBI acquired TaoTao, its second digital assets exchange, showing traditional finance leaders’ interest in digital currencies.
2. How Does Square’s Investment in Bitcoin Reflect the Trend in Corporate Adoption of Cryptocurrencies?
Answer: Square’s $50 million investment in Bitcoin, following MicroStrategy’s $425 million investment, indicates a growing trend of corporate adoption of cryptocurrencies. These investments reflect a belief in cryptocurrencies as instruments of economic empowerment and participation in a global monetary system. It may signal the opening of floodgates for other corporate entities to invest in and utilize digital assets.
3. What Implications Could the U.S. Congress’s Report on Antitrust Reform Have on Decentralized Networks?
Answer: The U.S. Congress’s report on the need for antitrust reform for tech giants like Amazon, Apple, Facebook, and Google could greatly leverage the use of decentralized networks. If successful, the plan may reduce monopolistic practices and promote decentralization, enhancing transparency, security, and fairness in various industries. It could foster innovation and growth in decentralized technologies and blockchain solutions.
4. How Is Blockchain Technology Being Utilized in Climate Emissions Tracking?
Answer: KPMG’s unveiling of blockchain solutions to track climate emissions represents a novel application of the technology in scientific research. By leveraging blockchain’s transparency, immutability, and traceability, these solutions can provide accurate and verifiable tracking of emissions data. It opens up a new realm of practice for blockchain technology in environmental research and sustainability efforts.
5. What Does SBI’s Acquisition of TaoTao Indicate About Traditional Finance Leaders’ Interest in Digital Currencies?
Answer: Japanese financial giant SBI’s acquisition of TaoTao, its second digital assets exchange, shows a trend in traditional finance leaders moving into the market of digital currencies. This acquisition reflects a growing interest and confidence in digital assets and blockchain technology among established financial institutions. It may signal a broader shift towards the integration and acceptance of digital currencies within traditional finance.
Like this article? Share
Latest Insights
Weekly Crypto Market Wrap: 28th October 2024
Zerocap is a market-leading digital asset firm, providing trading, liquidity and custody to forward-thinking institutions and investors globally. To learn more, contact the team at
Weekly Crypto Market Wrap: 21st October 2024
Zerocap is a market-leading digital asset firm, providing trading, liquidity and custody to forward-thinking institutions and investors globally. To learn more, contact the team at
CoinDesk Spotlights Zerocap | Bitcoin-Dollar Correlation Shaken Ahead of U.S. Election
Read more in a recent article in CoinDesk. 21 October, 2024: As the U.S. presidential election on November 5 approaches, financial markets are shifting rapidly, with
Receive Our Insights
Subscribe to receive our publications in newsletter format — the best way to stay informed about crypto asset market trends and topics.