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Weekly Crypto Brief 17th December

A Freshen Up Of The Weekly Brief for 2020!

As we approach the end of 2019 and ahead of some exciting announcements for GlobalBlock in 2020, we thought it was time for a freshen up to our weekly crypto brief based on feedback we have had from clients on the content that we put out each week.

Alongside the changes you will see below we will also be looking to keep you all abreast of developments within GlobalBlock as we head through 2020 and continue to develop our business and its offering.

On behalf of all the team here at GlobalBlock, we wish you all a very Merry Christmas and a Happy New Year!

P.S  Other than Christmas Day/ Boxing Day/ NYE and NY Day- we will be on hand for any transactions that you need to make from Fiat to Crypto and vice versa.

 

 

The Past Week In Crypto

Quadriga CX victims want proof of death

Anyone remember QuadrigaCX? Those that have lost their money will definitely remember it! Gerald Cotten, the late owner of the exchange reportedly died in India last December  from complications surrounding Crohn’s Disease, however he was the only person with the private keys to wallets holding $190m in user funds.  Rumours are abound that he has done a “Reggie Perrin” (a topical reference for our older readers..) and so lawyers representing those that have lost funds now want him exhumed to check that he has indeed popped his clogs.

Libra updates white paper

After the months of hype and the subsequent push back from Europe and the US, the Libra project has been relatively quiet although this week we saw a change in the white paper to remove dividends payable to the Libra Association members who became early investors.  The amendment removes a potential conflict of interest between members of the not-for-profit association and the currency’s end users, as it removes any incentive to load up the reserve with higher-risk assets that could cause Libra tokens to lose their value. Some have also speculated that the amendment could be designed to address concerns that Libra may be classified as a security.

VE Chain Loses $6.6m in VET tokens

Despite the headline, these were not lost down the back of a sofa.  An unknown hacker redirected a 1.1 billion VET tokens ($6.6m) from the VeChain Foundation’s buyback wallet to a personal address. As panic stations were activated within VeChain HQ the company were quick to stress that the security integrity of its mainnet and official mobile wallet had not been affected. In a statement, VeChain said “human error and the mismanagement of the private key by our staff” was to blame for Dec. 13’s incident.

 

 

Past Week Quotes

Christine Lagarde- President of ECB

“My personal conviction on the issue of stablecoins is that we better be ahead of the curve. There is clearly demand out there that we have to respond to.”

Jack Dorsey- Twitter CEO

“New technologies have emerged to make a decentralized approach more viable. Blockchain points to a series of decentralized solutions for open and durable hosting, governance, and even monetization. Much work to be done, but the fundamentals are there”

Alex Mashinsky – Founder and CEO of Celsuis Network

“Platforms designed to protect us and act in our best interest already exist. We are just waiting for 7 billion people to discover them. When they do, the entire internet will become an application on the blockchain.”

BTC Price: $7,090

Last 7 Days: -5.20%  1month: -16.93%  12months: +115.89%

 

BTC Technicals:

Resistance Levels:  $7,240/  $7,600

Support Levels: $6,400/  $6,000

BTC Volume:

9th December:    $15,587,693,324  (BTC Price of $7,501)

16nd December: $17,366,256,541  (BTC Price of $7,090)

11.41% increase in trading volume in the last 7 days

 

 

Market Cap. Dominance:

BTC:  66.56%
ETH:  7.96%
XRP:  4.77%

Other ALT-Coins: 20.71%

This newsletter is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments  or participate in any investment (or other) strategy.