{"id":404545,"date":"2019-11-16T19:00:03","date_gmt":"2019-11-16T19:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=404545"},"modified":"2024-06-11T11:53:50","modified_gmt":"2024-06-11T11:53:50","slug":"crypto-tidbits-rbc-may-embrace-bitcoin-china-bashes-cryptocurrency-ethereum-defi-booming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-tidbits-rbc-may-embrace-bitcoin-china-bashes-cryptocurrency-ethereum-defi-booming\/","title":{"rendered":"Crypto Tidbits: RBC May Embrace Bitcoin, China Bashes Cryptocurrency, Ethereum DeFi Booming"},"content":{"rendered":"<p>Another week, another round of <a href=\"https:\/\/wncen.com\/?s=Crypto+Tidbits&amp;lang=en\">Crypto Tidbits<\/a>. The past seven days were rather painful for Bitcoin (BTC), with the leading cryptocurrency tumbling by some 4% according to Coin360. Altcoins have posted similar losses. As of the time of writing this, BTC is trading for $8,500, seemingly poised to break down further as bulls fail to step in.<\/p>\n<p>Regardless of the price action, though, the cryptocurrency and blockchain industry saw a number of positive developments: reports indicated that Canada&#8217;s largest bank is looking to embrace Bitcoin, China&#8217;s foremost news outlet, which is state-run, mentioned <a href=\"https:\/\/wncen.com\/category\/crypto\/bitcoin\/\">Bitcoin<\/a> in an article, and Ethereum&#8217;s decentralized finance ecosystem has been gaining traction.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\" wp-image-379163 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?resize=999%2C666\" alt=\"\" width=\"999\" height=\"666\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=3000 3000w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/04\/shutterstock_620257853-e60.jpg?w=1140 1140w\" sizes=\"(max-width: 999px) 100vw, 999px\"><\/p>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/wncen.com\/2019\/11\/09\/crypto-tidbits-bakkt-bitcoin-huawei-ceo-blockchain-fbi\/\">Crypto Tidbits: Bakkt\u2019s Bitcoin Market Explodes, Huawei CEO Skeptical of Blockchain, FBI Wary of Cryptocurrency<\/a><\/h6>\n<h2>Bitcoin &amp; Crypto Tidbits<\/h2>\n<ul>\n<li><strong><a href=\"https:\/\/wncen.com\/2019\/11\/12\/canadian-bank-changes-bitcoin-tune-may-launch-cryptocurrency-exchange\/\">RBC May Launch Crypto Asset Exchange<\/a>:\u00a0<\/strong>Reported by The Logic, a Canadian innovation-centric news outlet, Royal Bank of Canada \u2014 the country&#8217;s largest bank with $660 billion in assets under management \u2014 is exploring the creation of a cryptocurrency trading platform for investments in an array of digital assets, purportedly including Bitcoin and Ethereum. Citing four Canadian and American patents that can be found by the public, the outlet reported that the institution is \u201cexploring the creation of a cryptocurrency trading platform for investments as well as in-store and online purchases.\u201d Serving over 16 million customers, RBC&#8217;s platform could be a boon for the crypto industry at large. What&#8217;s interesting is that this comes after RBC announced last year that:<br \/>\n<blockquote><p>\u201cEffective immediately, RBC will no longer be allowing the use of RBC credit cards for transactions involving cryptocurrency. We regret any inconvenience this may cause.\u201d<\/p><\/blockquote>\n<\/li>\n<li><strong><a href=\"https:\/\/wncen.com\/2019\/11\/11\/china-state-outlet-xinhua-exposes-bitcoin\/\">Chinese Government-Run Xinhua Releases Bitcoin Article<\/a>:\u00a0<\/strong>Earlier this week, Xinhua, China&#8217;s purportedly most-read news outlet, released an entire article on Bitcoin. The article, whose title roughly translates to \u201cBitcoin: The First Successful Application of Blockchain Technology,\u201d was seen by many on Twitter as a ground-breaking development. Sure, it did raise awareness of the cryptocurrency, but it wasn&#8217;t as bullish as many painted it on Twitter. The article, per some translations online, calls the cryptocurrency \u201chighly concentrated\/centralized\u201d phenomena, something that is bad for the climate, and is something \u201cmost importantly\u201d used for black market transactions. It also touched on the hyper-volatile nature of the crypto markets.<\/li>\n<li><strong>Compound Raises $25 Million from Andreessen Horowitz, others: <\/strong>On Thursday,\u00a0<a href=\"https:\/\/fortune.com\/2019\/11\/14\/crypto-interest-startup-compound-decentralized-finance\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Fortune revealed<\/a>\u00a0that\u00a0<a href=\"https:\/\/compound.finance\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Compound<\/a> \u2014 a decentralized platform that allows users to lend out and borrow Ethereum-based assets like ETH itself, USD Coin, Basic Attention Token, and 0x \u2014 has secured a $25 million worth of investments from Andreessen Horowitz\u2019s a16z (round leader), Paradigm, Bain Capital Ventures, and Polychain Capital. Compound CEO Robert Leshner explained that his company\u2019s goals will be to be integrated \u201cwith crypto exchanges, custodians, and wallets by the end of 2020.<\/li>\n<li><strong>PayPal Stops Pornhub-related Transactions in Move Bullish for Bitcoin: <\/strong>Pornhub recently announced that it will no longer be supported for payments by PayPal. This move will impact thousands of the performers that post videos on the site to garner income. Many have said that this is bullish for the cryptocurrency space, as things like Bitcoin are decentralized, digital, and censorship-resistant alternatives to PayPal.<\/li>\n<li><strong>Unknown Fund Looks to Distribute $75 Million in BTC to Privacy Firms: <\/strong>Announced in a press release published to an independent website on November 13th, a group of \u201cordinary\u201d though anonymous people (seeming crypto whales) plan to invest and donate some $75 million worth of Bitcoin to companies and non-profits looking to aid privacy rights. The group&#8217;s name is &#8220;Unknown Fund.&#8221;<\/li>\n<li><strong>Abra Bolster Crypto App by Adding 60 New Digital Assets:\u00a0<\/strong>Fintech startup Abra is bolstering its U.S. offerings in a move bolstering crypto adoption. According to CoinDesk, the app is adding 60 new cryptocurrencies \u2014 including things like Cosmos, MakerDAO&#8217;s DAI, and Bitcoin SV \u2014 and doubling users&#8217; bank deposit limits. The new assets will eventually be activated for Abra customers outside of the U.S.<\/li>\n<\/ul>\n<h6 style=\"text-align: center\">Related Reading: <a href=\"https:\/\/wncen.com\/2019\/11\/16\/eerily-accurate-fractal-suggests-bitcoin-price-fall-25\/\">Eerily Accurate Fractal Suggests Bitcoin (BTC) Price to Fall 25%<\/a><\/h6>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Another week, another round of Crypto Tidbits. The past seven days were rather painful for Bitcoin (BTC), with the leading cryptocurrency tumbling by some 4% according to Coin360. Altcoins have posted similar losses. As of the time of writing this, BTC is trading for $8,500, seemingly poised to break down further as bulls fail to step in. Regardless of the price action, though, the cryptocurrency and blockchain industry saw a number of positive developments: reports indicated that Canada&#8217;s largest bank is looking to embrace Bitcoin, China&#8217;s foremost news outlet, which is state-run, mentioned Bitcoin in an article, and Ethereum&#8217;s decentralized finance ecosystem has been gaining traction. Related Reading: Crypto Tidbits: Bakkt\u2019s Bitcoin Market Explodes, Huawei CEO Skeptical of Blockchain, FBI Wary of Cryptocurrency Bitcoin &amp; Crypto Tidbits RBC May Launch Crypto Asset Exchange:\u00a0Reported by The Logic, a Canadian innovation-centric news outlet, Royal Bank of Canada \u2014 the country&#8217;s largest bank with $660 billion in assets under management \u2014 is exploring the creation of a cryptocurrency trading platform for investments in an array of digital assets, purportedly including Bitcoin and Ethereum. Citing four Canadian and American patents that can be found by the public, the outlet reported that the institution is \u201cexploring the creation of a cryptocurrency trading platform for investments as well as in-store and online purchases.\u201d Serving over 16 million customers, RBC&#8217;s platform could be a boon for the crypto industry at large. What&#8217;s interesting is that this comes after RBC announced last year that: \u201cEffective immediately, RBC will no longer be allowing the use of RBC credit cards for transactions involving cryptocurrency. We regret any inconvenience this may cause.\u201d Chinese Government-Run Xinhua Releases Bitcoin Article:\u00a0Earlier this week, Xinhua, China&#8217;s purportedly most-read news outlet, released an entire article on Bitcoin. The article, whose title roughly translates to \u201cBitcoin: The First Successful Application of Blockchain Technology,\u201d was seen by many on Twitter as a ground-breaking development. Sure, it did raise awareness of the cryptocurrency, but it wasn&#8217;t as bullish as many painted it on Twitter. The article, per some translations online, calls the cryptocurrency \u201chighly concentrated\/centralized\u201d phenomena, something that is bad for the climate, and is something \u201cmost importantly\u201d used for black market transactions. It also touched on the hyper-volatile nature of the crypto markets. Compound Raises $25 Million from Andreessen Horowitz, others: On Thursday,\u00a0Fortune revealed\u00a0that\u00a0Compound \u2014 a decentralized platform that allows users to lend out and borrow Ethereum-based assets like ETH itself, USD Coin, Basic Attention Token, and 0x \u2014 has secured a $25 million worth of investments from Andreessen Horowitz\u2019s a16z (round leader), Paradigm, Bain Capital Ventures, and Polychain Capital. Compound CEO Robert Leshner explained that his company\u2019s goals will be to be integrated \u201cwith crypto exchanges, custodians, and wallets by the end of 2020. PayPal Stops Pornhub-related Transactions in Move Bullish for Bitcoin: Pornhub recently announced that it will no longer be supported for payments by PayPal. This move will impact thousands of the performers that post videos on the site to garner income. Many have said that this is bullish for the cryptocurrency space, as things like Bitcoin are decentralized, digital, and censorship-resistant alternatives to PayPal. Unknown Fund Looks to Distribute $75 Million in BTC to Privacy Firms: Announced in a press release published to an independent website on November 13th, a group of \u201cordinary\u201d though anonymous people (seeming crypto whales) plan to invest and donate some $75 million worth of Bitcoin to companies and non-profits looking to aid privacy rights. The group&#8217;s name is &#8220;Unknown Fund.&#8221; Abra Bolster Crypto App by Adding 60 New Digital Assets:\u00a0Fintech startup Abra is bolstering its U.S. offerings in a move bolstering crypto adoption. According to CoinDesk, the app is adding 60 new cryptocurrencies \u2014 including things like Cosmos, MakerDAO&#8217;s DAI, and Bitcoin SV \u2014 and doubling users&#8217; bank deposit limits. The new assets will eventually be activated for Abra customers outside of the U.S. Related Reading: Eerily Accurate Fractal Suggests Bitcoin (BTC) Price to Fall 25% Featured Image from Shutterstock<\/p>\n","protected":false},"author":497,"featured_media":403823,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,19067],"class_list":["post-404545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-crypto-tidbits"],"acf":[],"yoast_head":"\n<title>Crypto Tidbits: RBC May Embrace Bitcoin, China Bashes Cryptocurrency, Ethereum DeFi Booming<\/title>\n<meta name=\"description\" content=\"Another week, another round of Crypto Tidbits. 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