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This Week in Crypto...

August 22, 2021
During the Weekend, Bitcoin (BTC) rewards company GoSats has launched a new cashback rewards card for customers in India. The product may help digital assets become mainstream in India’s emerging economy.

Finder.com released a crypto report that found that Vietnam had the highest rate of cryptocurrency adoption at 41%. Vietnam ranked 13th in realized Bitcoin (BTC) gains for 2020, despite having the 53rd largest economy based on GDP.

On Monday,

Microsoft said it wants to use blockchain technology to combat piracy. They plan to take advantage of the transparency of blockchain and create a trustless incentive mechanism that protects data collected from the anonymous population of piracy reporters.

Walmart posted a job listing for a digital currency and crypto product lead. They are looking for an experienced crypto expert who can develop and drive an ambitious digital currency strategy and product roadmap. Walmart has recently been trying to integrate blockchain technology into supply chain management, customer marketplaces and smart appliances.

On Tuesday,

The U.S. State Department unveiled its updated “Rewards for Justice” program. The program seeks to incentivize white hat hackers to uncover state-sponsored actors and potential terrorists on the dark web. Informants will be rewarded in crypto assets from a pool of $10 million.

A USA Today survey found that Black, Hispanic and LGBTQ Americans are far more likely to own crypto assets. They found that 23% of Black Americans, 17% of Hispanic Americans, and 25% of LGBTQ respondents held crypto, compared to only 11% of white Americans and 13% of the general public. The polling organization suggested that crypto’s few barriers to entry have made it popular for marginalized communities that have been victims of financial discrimination.

On Wednesday,

The head of Ukraine’s Ministry of Digital Transformation said he plans to pay his staff in digital currency. The move will serve as a pilot program for Ukraine’s Central Bank Digital Currency (CBDC), the e-hryvnia.

Trading app, RobinHood, revealed crypto trading now represents 41% of its revenue, of this, 62% came from Dogecoin (DOGE) trades. This is the company’s first earnings report since it went public.

On Thursday,

Australia and Singapore have concluded a blockchain trial project that tested its digital verification systems in issuing and verifying trade documents. The trial was deemed a success, with the system able to create high integrity digital trade documents that can be instantly authenticated, provenance traced, and digitally processed.

Bloomberg announced it will partner with Galaxy Digital to launch an index that will track nine different decentralized finance projects. These will include Uniswap (UNI), Aave (AAVE), Maker (MKR), Compound (COMP), Yearn.Finance (YFI), Synthetic (SNX), SushiSwap (SUSHI), 0x (ZXR) and Uma (UMA). According to Bloomberg, these nine DeFi assets selected for the index at the launch were based on "institutional trading and custody readiness" in the United States.

On Friday,

Wells Fargo registered a new investment fund that offers its clients indirect exposure to Bitcoin (BTC). The fund is being incorporated as a limited partnership with investment services company NYDIG and alternative assets manager FS Investments. Wells Fargo is one of the oldest banks in the United States and its adoption of crypto is reflective of crypto’s rising popularity on Wall Street.

Gary Gensler, chairman of the United States Securities and Exchange Commission, stated that decentralized finance (DeFi) is highly centralized in certain aspects. He said to the Wall Street Journal, “These so-called decentralized finance platforms actually have a lot of centralization. There’s a group of entrepreneurs that are running these platforms. They should come in and to that extent work with us and get registered.”

For more information on these stories, visit:
GoSats debuts Bitcoin cashback rewards card in India By BTC Peers (investing.com)
Vietnam leads crypto adoption in Finder's 27-country survey (cointelegraph.com)
Microsoft is looking to use the ethereum blockchain to prevent piracy (yahoo.com)
Walmart Is Hiring a Digital Currency and Cryptocurrency Product Lead - CFO
U.S. to Rewards Informants Up to $10M Via “Rewards for Justice” Initiative Paid in Crypto (crypto-news-flash.com)
Minority communities are investing in crypto to escape financial discrimination (cointelegraph.com)
Ukraine Minister Says First Digital Currency Pilot Could Focus on Staff Salary Payments - CBDCMagazine.com
62% of Robinhood’s Q2 crypto revenue was from Dogecoin trading (cointelegraph.com)
Australia and Singapore conclude digital verification blockchain pilot (cointelegraph.com)
New DeFi Index Launched by Galaxy Digital and Bloomberg - BeInCrypto
Wells Fargo Files to Launch a Bitcoin Fund (cryptopotato.com)
SEC Chairman Says DeFi Projects ‘Have a Lot of Centralization,’ Warns They Won’t Reach Full Potential Outside Regulatory Laws | The Daily Hodl

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