Good news from US Fed for Crypto, Asian users flooding DeFi protocols, Upcoming LinkedIn Workshop and much more.
Good Morning FinTech, 01 October
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Here is the update of all the major news surrounding crypto last week:-
1. U.S. Fed Won’t Ban Crypto, Says Chair Jerome Powell
China banned crypto for the millionth time however U.S. Federal Reserve Chairman Jerome Powell has made it clear that there are no plans for a China-style crackdown on cryptocurrencies during a thursday hearing held by the House Committee on Financial Services.
2. Asian Users flood to DeFi
With regulatory concerns on the rise, Asian users are forced off Centralized exchanges and now are seeking Decentralized Exchanges to continue trading. For the first time in history a Decentralized exchange dYdX's Trading volume surpasses that of coinbase. following the incident DEX governance tokens $DYDX, $UNI and $SUSHI each rises ~30%
Did regulation backfire? Instead of stopping cryptocurrency usage are we seeing a catalyst for DeFi Adoption?
3. 2nd Largest Ethereum mining pool to shut down
China crypto ban is making a wave of changes!
The second-largest ETH mining pool Sparkpool (Resposible for more that 20% of the ETH Hashrate) has announced that it has already halted access to new users in China and they abandoned all services by September 30th.
4. Alibaba to block sales of crypto mining equipment
Yet again we have china making the news...
Chinese e-commerce giant Alibaba said Monday that, beginning on October 8, it will halt the sales of cryptocurrency mining equipment on its platform.
The halt also includes sale of software and tutorials/strategies related to cryptocurrencies.
5. Coinbase to add new Features for U.S. Users
We have good news from Coinbase for U.S. customers.
Coinbase will soon allow its U.S. customers to directly deposit their paycheck into a Coinbase account.
Coinbase also added the ability to spend USD through the Coinbase card.
Check my detailed research on the latest crypto project that i am investing in, the project posted was at $0.92 last week and its currently at $1.02.
Upcoming Workshop Update:
If you haven’t signed up yet for the workshop, follow the link below to sign up for the upcoming workshop of optimizing your LinkedIn profile to get your dream job and stand out from the crowd. The workshop will be on 10/02 at 9:00am EST.