Crypto News Cast 📮 23-11-2020

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Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap: $543 B
📊24h Mcap %: 13.49%
⚠️Bitcoin Dom: 62.30%
📌Active Coins: 4,681
📍24h Vol %: 0.59%
💲24h Vol: $219 B

Crypto News Updates :

• China's Xi Asks G20 Countries To Support CBDCs
• Swiss Financial Institutions Bet on ETH2, BCH and USDC
• Ethereum Hits $600 Highest Value Since 2018
• Over 50% Of Total ETH Required To Launch ETH 2.0 Mainnet Already Staked
• Ripple Will Make XRP Ledger Integral Part of CBDCs
• John Lennon's Son Says Bitcoin ‘Empowers’ People
• Van Eck: Bitcoin Is Less Volatile Than Stocks
• Mark Yusko: Bitcoin Doing 'Extremely Well' Due to FED's Dollar Devaluation

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China's Xi Asks G20 Countries To Support CBDCs

China’s President Xi Jinping told G20 meeting attendees this week that the group of the world’s largest developed economies should be open to central bank digital currencies (CBDCs) when developing standards for them. In a wide-ranging speech that addressed the future of the global economy in the wake of the COVID-19 pandemic, Xi said that the G20 needs to discuss developing standards and principles for central bank digital currencies with an open and accommodating attitude. Read Full on CoinDesk.

Swiss Financial Institutions Bet on ETH2, BCH and USDC

Swiss financial entities focused on cryptocurrencies are engaging clients with new opportunities. Swiss bank SEBA announced on Nov 19 that it now accepts Bitcoin Cash and stablecoin USDC. The FINMA-registered Swiss bank stated that customers may now use the coins for services. This includes trading, digital custody, earning interest (USDC), and fiat lending against BCH. SEBA is headquartered at Zug in Switzerland’s Crypto Valley. Also, Zug-based Bitcoin Suisse announced on Nov 20 that the company’s clients had staked over 71,891 ETH in their ETH2 staking. Read Full on BeInCrypto.

Ethereum Hits $600 Highest Value Since 2018

The second biggest cryptocurrency Ethereum has just reached $600 - on its way to recovering the 2018 all-time of high (ATH) of $1,300. In the last 24 hours, its price has increased by 14%. Over the past seven days, Ethereum has cranked 26% from around $460 this time last Monday. Since the beginning of the year, ETH has surged 350% outperforming its big brother Bitcoin which has only made around 150% by comparison. Ethereum’s market cap has also increased. At the time of writing, Ethereum’s market cap is at $67 billion, up 28% in the last month, and 34% in the last three months. Read Full on Decrypt.

Over 50% Of Total ETH Required To Launch ETH 2.0 Mainnet Already Staked

The deposit contract address for Ethereum 2.0 has reached 50 percent of its target, marking a significant milestone for the much-awaited upgrade of the second-largest blockchain. At the time of writing, its total balance stands at 292,480 ETH ($170 mln at the time of writing), Etherscan data shows. The deposit contract will have to hit the 524,288 ETH threshold required to launch the Beacon Chain mainnet. The aforementioned sum has to be reached seven days before Dec. 1 to avoid another delay. Read Full on twitter.

Ripple Will Make XRP Ledger Integral Part of CBDCs

Ripple is pushing to bring the XRP Ledger to the world of central bank digital currencies (CBDCs). The San Francisco startup is looking to hire a senior director of central bank engagements, according to a new job listing. The new hire will focus on developing strategies to integrate Ripple’s products with the nascent CBDC market and pitch various ways in which banks can utilize the XRP ledger. Ripple says it wants to partner with CBDC projects and manage a “target list and pipeline of banks and projects and driving the deal process from start to finish.” Read Full on The Daily Hodl.

John Lennon's Son Says Bitcoin ‘Empowers’ People

The son of Beatles legend John Lennon has praised bitcoin for its ability to help individuals transcend politics and world events. Sean Ono Lennon, speaking on the Orange Pill Podcast on Sunday, said bitcoin empowers people in a way they’ve never been empowered before. He noted that, the world’s first crypto is one of the only things that gives him more optimism about the future and humanity in general amid the tribulations of 2020. Read Full on twitter.

Van Eck: Bitcoin Is Less Volatile Than Stocks

Van Eck's latest research appears to be an effort towards calming investor fears about Bitcoin as well as the SEC's. Investment management firm Van Eck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks listed on the S&P 500. German issuer of exchange-traded products said, on a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price fluctuations than the digital currency, while 22% did the same on a 90-day basis, said Van Eck. Read Full on cointelegraph.

Mark Yusko: Bitcoin Doing 'Extremely Well' Due to FED's Dollar Devaluation

According to Mark Yusko, founder and CEO of investment firm Morgan Creek Capital Management, the U.S. FED and the rise of “zombie companies” is prompting investors scramble to hedge against inflation using bitcoin and gold. Yusko took aim at zombie companies, those that need bailouts at times of financial stress to stay in operation, calling them a “Ponzi finance scheme” and saying their inability to repay debt, left the “only choice” for the Federal Reserve is to devalue the currency. As a result, bitcoin and gold have been doing “extremely well,” according to Yusko. Read Full on CoinDesk.