INTRODUCTION
October was
anything but a 180 degree flip from the month we had in September filled with
DeFi thematics, rug pulls, and more of the scammy nature of food-themed
protocols barraging out Twitter feeds. I think the undertone and feeling
October gave was a sense of relief and ‘back to bitcoin’ pivot where the crypto
king once again gave us a feeling of rejuvenation. The price of bitcoin has
finally broke through the $13k resistance level for the first time since June of
2019. A year of literal bitcoin sideways trading with a few drops here and
there. But the institutional headlines we’ve been absorbing will be the wind on
our backs as we end a year of bizarreness on all fronts.
Here’s a
collection of some of the top headlines that occurred this past month of
October.
https://squareup.com/us/en/press/2020-bitcoin-investment
Square,
Inc. Invests $50 Million in Bitcoin
This
announcement by Square was good on all sides, but something that really wasn’t
too surprising in the crypto world. Square’s founder, Jack Dorsey, has always
been bullish on crypto. His Twitter profile page only reads “bitcoin” with the
BTC logo in its profile section. The one disappointment one could take from
this is the fact that it was only $50 million. Chump change when it comes to
institutional bitcoin moves.
https://www.panewslab.com/en/articledetails/N5524585.html
Bobby Ong on PANews’
The Conversation
In an
exclusive podcast on PANews’s The Conversation, PANews had the chance to speak
with one of the biggest contributors in the crypto industry, Bobby Ong, on how
CoinGecko is providing transparent crypto data and educating the masses on
DeFi. Bobby shares with us his crypto introduction story and what inspired him
to start CoinGecko. We then get deeper into the discussion of how CoinMarketCap
no longer became independent after the acquisition by Binance. In hindsight,
this has been a major catalyst for CoinGecko to shine and continue moving
forward its brand.
https://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency
PayPal
becoming pals with Bitcoin
This has got
to be the biggest news in the crypto-sphere this month. PayPal, which is
recognized globally, has been one of the market leaders in online payments for
the past decade. And in the past few years with its acquisition of Venmo, that
monstrosity of power has been solidified. The news of PayPal being able to
offer and accept cryptocurrencies for all online payments was a shock to even
the most OGs of bitcoiners. Of course it came on the backs of its up and coming
competitor’s, Square, announcement of stashing bitcoin in its reserves, but
nonetheless a major move in keeping the music playing amongst institutions and
bitcoin. If there’s ever a pendulum swing in bitcoin’s history, this could be
the spark of when the real institutional money starts flowing in.
https://www.panewslab.com/wap/zh/articledetails/1603853823483086.html
DBS
launching its own digital exchange
On October
27th, DBS Bank announced on its official website that it will launch the
digital trading platform DBS Digital Exchange , which will provide legal
currency ( SGD , HKD , JPY , USD ) trading services in four digital currencies:
BTC , BCH , ETH and XRP . At the same time, relevant compliant companies can
also raise funds through the platform, allowing companies to convert their
securities or assets into digital currencies. But soon after, DBS Bank's
official website deleted the relevant introduction page of the digital trading
platform.
https://www.panewslab.com/wap/zh/articledetails/1603787227613127.html
"NFT
C-Seat Debut, More Than Just Encryption Art" co-sponsored by PANews and
Cocos-BCX
This week
marked the start of the annual Shanghai International Blockchain Week where
numerous events and meetups took place. “One too many” if that’s the better way
of putting it but the team here at PANews took the initiative and hosted two
events. On October 26 , the " NFT C -Seat debut, More than Just Encryption
Art" co-sponsored by PANews and Cocos-BCX was successfully held in
Shanghai, attracting the active participation of many practitioners on a panel
where the center theme was, NFT. Click more in the link to see a full summary.
https://www.panewslab.com/wap/zh/articledetails/1603890524661162.html
PANews’
second hosted event on the Bund.
On the evening
of October 27th , the " Blockchain Wonderful Night" jointly organized
by PANews , PCHAIN , Cocos-BXC and Bingbon came to a successful conclusion at
Shanghai Wanda Ruihua Hotel, bringing a unique party for blockchain
practitioners and enthusiasts , Shared blockchain carnival night. At the
beginning of the event, PANews co-founder and editor-in-chief, Bi Tongtong, and
PCHAIN founder, Cao Feng, delivered poignant speeches respectively, sharing the
original intention and vision of holding the event.
WRAPPING
IT UP
The month of
October by and large delivered a great welcome back surprise from our pal,
bitcoin. Nothing against DeFi and the antics it brought over during the summer,
if anything it was a great experiment in high finance for retail usage on the
blockchain. Our consulting arm has been steadily bonding relationships with
more burgeoning DeFi projects out there as result which has supplemented our
business as a whole. But with bitcoin making its resurgence, it’s vital to go ‘back
to basics’ and focus on key areas such as ‘not your keys, not your bitcoins’ in
the wake of OKEx’s private key controller being arrested. More education on
that front should take place front and center as the months go by.
-Team
PANews/PANONY
