In a week dominated by the surge in Bitcoin and events in the crypto sphere, here are the top stories from the worlds of forex, fintech and crypto in our best of the week segment.
BTC Seems like It’s Headed Straight for $20k: Is this 2017 All over Again?
Bitcoin passed over the $18,000 mark earlier this week and for many analysts, the move over $18k seemed to signal that another important price goal was just around the corner - $20,000.
With expert insights from Clara Medalie, market analyst at digital assets data provider Kaiko, Dr. Garrick Hileman, Head of Research at Blockchain .com and Harumi Urata-Thompson, CFO of Celsius Network, Finance Magnates looked at the causes of the Bitcoin surge, its destination and the comparisons between now and the last time Bitcoin hit $20k in 2017.
Read the Bitcoin analysis here.
Coinbase App Goes down Just as Bitcoin Skyrockets
The website of cryptocurrency exchange, Coinbase apparently crashed just as bitcoin price continues to march higher towards three-year highs near $17,000 per coin. Coinbase users trying to access their portfolio were met with a message that the site is 'temporarily unavailable'.
According to a company update on Monday, Coinbase said the website and mobile apps are not loading, adding that it is “currently investigating the issue,” but no further comment was provided.
Read more on the Coinbase downtime here.
Airbnb Plans to Consider Cryptocurrencies and Blockchain Technology
According to the prospectus filed with the US Securities and Exchange Commission (SEC) for its IPO, Airbnb has shown interest in the adoption of emerging technologies, including tokenization, cryptocurrencies and other applications of blockchain technology.
The official filing states that the home-rental platform is open to considering technologies like distributed ledger, artificial intelligence, augmented reality and cloud technologies for the future. In the past, Airbnb said that the company has no plans to consider bitcoin or any cryptocurrency as a mode of payment.
Read more on the Airbnb crypto plans here.
HotForex Announces Partnership with Paris Saint-Germain
Forex and CFD broker, HotForex announced this week that it has partnered with the current champions of French football, Paris Saint-Germain (PSG). This is the latest partnership by the broker to expand its portfolio of global sports sponsorships.
According to the press release shared with Finance Magnates, the broker will be the partner of PSG for the 2020-21 season. The recent collaboration will allow HotForex to get exposure in selected regions and on PSG’s digital platforms.
Read more on the HotForex PSG partnership here.
Whatever Happened to Facebook’s Libra? Down the Rabbit Hole with David Gerard
In an exclusive interview with Finance Magnates, celebrated author and crypto commentator, David Gerrard opened up the decisive shift in the course of Facebook’s Libra project.
Never one to mince his words, David gives his forthright opinions on Facebook's Libra.
Read and hear the David Gerrard Libra interview here.
Analysis: UAE Forex Traders Investing the Most, Followed by Asia
The Finance Magnates Intelligence team examined the latest July and August data from cPattern, highlighting key changes.
Get all the info from the global forex markets on who is trading what and with how much.
All of the geo's were examined, and the results were quite surprising.
Read more on the global trader analysis here.
