Weekly Crypto Report (08-14 July) | What Happened This Week in Crypto

Here you will know about the weekly crypto report of last week regarding bitcoin and other cryptocurrency events happened all around the world. 

1 Deutsche Bank Plans To Fire Almost 20,000 Employees

The beleaguered European investment bank, Deutsche Bank plans to fire almost 20,000 employees from its equity sales and trading businesses in order to increase its profitability reported on 7 July 2019. According to the Bank, A newly created unit named Capital Release Unit will handle the trading businesses of the Deutsche Bank

2 Binance Launched Margin Trading For Everyone

Largest Cryptocurrency exchange Binance officially launched the margin trading on its exchange platform for every KYC verified user reported on 11 July 2019. Margin trading allowed users to open long and short positions where long refers to buying contracts of a coin and short is selling of contracts of a coin.

3 Bitpoint Exchange Of Japan Hacked And Lost $32 Million

Japanese Bitpoint exchange of cryptocurrency has hacked and lost its $32 million of funds in mostly Bitcoin, XRP and other cryptocurrencies reported on 12 July 2019. The $23 million of hacked funds was of their customers and the remaining $9.2 million of the lost fund belonged to the exchange personal account. Bitpoint Exchange reported …

4 Bitcoin Trading is Illegal in Iran, Officially Announced by Central Bank

Buying and selling of Bitcoin and other cryptocurrencies are illegal in Iran, a government official declared, in a report published by local news agency Tasnim News on 8 July. Nasser Hakimi, deputy governor for new technologies at the Central Bank of Iran (CBI) announced that Bitcoin trading is not legal in the country and anyone …

5 Bitcoin Mining Difficulty Hit New All Time High

Bitcoin mining difficulty hit a new all-time high record this week due to the continuously increasing of the hash rate reported on 9 July 2019. Also read: What is Cryptocurrency Mining? Is Bitcoin Mining Profitable? In the block 584,640 new difficulty is adjusted by the value of 9.06 T with an increment of + 14.23 

6 Social Network Tiranga Launch Stablecoin Rewards for 27 million users

Recently, a Latin American social networking giant Taringa! partnered with MakerDAO and Airtm, to launch a point based stablecoin system for it’s 27 million worldwide users. According to recent news published on 7th of July, the firm already revealed this change at Blockchain Summit Latam held at Mexico City. The program is dubbed as Taringa!

7 Yes Bank in Asia Issue Commercial Paper Using Blockchain

Recently, banking firm Yes bank issued a Commercial Paper (CP) of about INR 100 crores while using the Blockchain technology for a firm Vedanta Limited. Thus becoming the first bank in Asia to digitally issue a CP using the Blockchain technology. The transaction was completed by a leading financial technology provider MonetaGo, …