Crypto News Cast 📮 09-10-2020

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

24hours Cryptocurrency Market Cap:

📈MarketCap: $351 B
📊24h Mcap %: 4.69%
⚠️Bitcoin Dom: 58.40%
📌Active Coins: 4,298
📍24h Vol %: 14.26%
💲24h Vol: $123 B

Crypto News Updates :

• Ripple Offers XRP Loans to RippleNet Customers
• Volume Of CME Bitcoin Options Contracts Boosts Up To 300%
• Peter Brandt Says Bitcoin About to Flash Big Bullish Signal
• Dutch Central Bank Approves First Crypto Service
• Billionaire Tim Draper Invests In India’s Crypto Exchange
• China To Promote Its Central Bank Digital Currency With A Giveaway
• Chamath Palihapitiya: Bitcoin Works Inverse To Current Financial Infrastrstructure
• Payments Firm Square Acquired 4,709 Bitcoin Worth $50 Million

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Ripple Offers XRP Loans to RippleNet Customers

San Francisco-based blockchain company Ripple has launched a lending offering, called Line of Credit, that allows its customers that utilize the On-Demand Liquidity (ODL) solution to borrow XRP in order to quickly get access to capital. The new service — which has already been piloted by members of the RippleNet network — is currently in a beta testing stage. The new product now allows RippleNet members to borrow XRP from Ripple by paying a one-time fee, avoiding long waiting times associated with legacy financial institutions. Read Full on U.Today.

Volume Of CME Bitcoin Options Contracts Boosts Up To 300%

Activity in bitcoin options listed on the Chicago Mercantile Exchange (CME) surged Wednesday as investors traded call options, or bullish bets. According to data source Skew, the CME traded $48 million worth of options during the day, the highest daily volume figure since July 28. The number marks a 300% rise from Tuesday's figure of $12 million." Skew's CEO Emmanuel Goh stated, "The CME options had a strong session, and the spike in the volume was mainly due to increased activity in call options. Read Full on CoinDesk

Peter Brandt Says Bitcoin About to Flash Big Bullish Signal

Veteran commodity trader Peter Brandt Brandt who dumped his BTC last month has seemingly turned bullish on Bitcoin, according to his Oct. 8 tweet. He claims that its weekly and daily charts are "poised" for a big bullish signal. This comes after Square, a $81 bln publicly traded company, has announced its acquisition of $50 mln worth of BTC. In the aforementioned tweet, Brandt describes Square’s pivot to Bitcoin as “a major development.” Read Full on U.Today

Dutch Central Bank Approves First Crypto Service

The central bank of the Netherlands, De Nederlandsche Bank NV (DNB), has granted AMDAX BV the ability to operate under its jurisdiction. This marks the first time a digital asset company has been approved in the country following the introduction of strict new regulations that saw many crypto related businesses close or leave the Netherlands. Receiving official registration from the governing body means AMDAX BV, an Amsterdam-based digital asset service company, can now give Dutch residents access to its crypto services. Read Full on cointelegraph.

Billionaire Tim Draper Invests In India’s Crypto Exchange

Unocoin, one of India’s oldest crypto exchanges, has raised $3.5 million in Series A, CEO Sathvik Vishwanath told. The round was led by venture capitalist and billionaire Tim Draper’s Draper Associates, with participation from XBTO Ventures, 2020 Ventures, and others. Vishwanath said the round is still ongoing, and Unocoin is looking to raise an additional $1.5 million in the coming months.The fresh capital has brought Unocoin’s valuation to $20 million, said Vishwanath. He added that it would be utilized for customer acquisition and growing Unocoin’s team. Read Full on CoinDesk

China To Promote Its Central Bank Digital Currency With A Giveaway

To promote the digital yuan, in collaboration with the country's central bank, Shenzhen is planning to distribute a total of 10 million digital yuan ($1.5 million) — China’s central bank digital currency. As reported, the giveaway pilot will be funded by Shenzhen's Luohu District. The giveaway money will be reportedly distributed to 50,000 recipients through a lottery. Shenzhen residents can start applying online to participate in the giveaway on Oct. 9. Each “gift” will be worth 200 renminbi and can be spent starting from Oct. 12 and Oct. 18 at any of 3,389 merchants in Shenzhen's Luohu District. Read Full on cointelegraph

Chamath Palihapitiya: Bitcoin Works Inverse To Current Financial Infrastrstructure

Outspoken technology investor Chamath Palihapitiya addressed a slew of hot topics including bitcoin on Tuesday with CNBC’s Squawk Box. The investor, one of Mark Zuckerberg’s earliest hires, noted that the cryptocurrency isn’t something you trade. He instead said that BTC is an asset that is underpinned by a set of beliefs and fundamentals that is literally “the inverse of how the financial infrastructure of this world operates. He thinks Bitcoin is an insurance policy against central banks and governments acting irresponsibly. Read Full on cryptopotato

Payments Firm Square Acquired 4,709 Bitcoin Worth $50 Million

Square, the payments company helmed by Twitter CEO Jack Dorsey, announced that it has purchased 4,709 Bitcoins, a $50 million investment representing one percent of the firm’s total assets. “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square’s Chief Financial Officer, Amrita Ahuja. “As it grows in adoption, we intend to learn and participate in a disciplined way. For a company that is building products based on a more inclusive future, this investment is a step on that journey.” Read Full on Square