The crypto market is coiled like a spring, ready to explode in either direction, as news continues to roll in. Institutional and mainstream interest continues to build, and Bitcoin’s price still lies dormant. Here’s today’s action:
In Case You Missed It at Crypto Insider:
Lately, there has been a seemingly endless stream of high-profile data breaches. In just two weeks, for instance, both Facebook and Google have fallen victim to bad actors. But blockchain tech may be able to help.
The public often mentions the excessive amount of energy Bitcoin requires for the mining process. The oil industry could have a solution.
And now, for news from around the web:
IBM’s Food Blockchain Is Going Live With A Supermarket Giant On Board
Today IBM Food Trust announced plans to launch commercially, allowing food to be tracked on the blockchain. They have already signed on Carrefour, a well-known French retail chain, with 12,000 stores in 33 countries. “‘For us, it’s a matter of sense for the consumer,’ Emmanuel Delerm, blockchain program director at Carrefour told CoinDesk.”
IBM Food Trust also includes other major players such as Nestle, Tyson Foods, Dole Food, Walmart, and Kroger. Involvement of these large companies is great news for the mainstream adoption of blockchain and cryptocurrency.
The fact that large enterprises like IBM and Walmart see potential in blockchain technology shows that the blockchain adoption process continues to move forward, even after almost an entire year of bear market price action. This interest also shows that blockchain has many different use cases, which the world will continue to discover over time.
Good Money’s Master Plan: A Stealth Bid To Get Celebrities Promoting Crypto
Former Thrive Market co-founder Gunnar Lovelace has plans to further crypto’s mainstream adoption via his network of successful bloggers. Lovelace plans to utilize a network of “movie stars, life coaches, cookbook authors, and U2 frontman Bono”. However, the company (Good Money) he’s been building for his plan has been selectively secretive.
Lovelace is betting that internet sensations are currently trusted by millennials, more than financial institutions or media. CoinDesk was able to gain access to materials about Good Money, which state that it’s “a millennial mobile-first banking platform with a fiat-crypto interoperability that empowers global citizens to be part of a more equitable and transparent world.”
Targetting younger generations could be an effective approach to helping crypto become more popular in the long term. Younger generations more readily accept cryptocurrencies and their applications. A Forbes piece earlier this year talks about “a new report released by Finder.com found that Millennials (between the ages of 22 and 37) had a 17% cryptocurrency ownership rate out of the 2,001 American adults surveyed. Gen X had a 9% rate and Baby Boomers were a bit over 2%.”
CNBC’s Ran Neuner Says ‘Bitcoin Is About To Explode,’ Points To Pending ETF Decision
The world’s favorite counter trading indicator is at it again, with comments that Bitcoin’s price will see a strong move up. Ran Neuner of CNBC recently tweeted his feelings that Bitcoin would see strong positive movement, depending on the outcome of many ETF proposals that hang in the balance. Neuner makes comparisons to last years BTC price run up to $20,000, in conjunction with news of Bitcoin futures trading launch.
This information from Neuner would be interesting if it was not already the current common sentiment of almost the entire crypto world. The topic and sentiment have been discussed many times by popular crypto Youtubers. Sunny Decree has a video from July that serves as one example.
World’s Largest Crypto Exchange Binance Announces All Listing Fees Will Be Donated To Charity
Binance announced today their intent to donate all exchange listing fees to charity. Binance CEO Changpeng Zhao, or CZ for short, explained his hope that other exchanges would choose to do the same. There will also no longer be a minimum listing fee required, additionally stating that “a large donation does not guarantee or in any way influence the outcome of our listing review process”, meaning that they still look for quality in projects being listed.
At the height of the last crypto bull market, exchange listing fees were the topic of major discussion, with platforms charging astronomical amounts for coin/token listings. There has since been a significant discussion on the topic. This could be seen as another sign that the crypto space is continuing its path to maturity.
Bitfinex Attempts To Prove Solvency, Denies Exposure To Noble Bank Woes
In response to accusations on the Bitfinex Insolvency problem, Bitfinex denied such comments and showed several cold storage balances of BTC, ETH, and EOS in an effort to back up its validity. Readers will also remember that Bitfinex and Tether are reportedly no longer working with Noble Bank.
Bitfinex also stated that FUD would not impact their survivability, solvency, or operations.
Showing wallet balances is a notable effort on behalf of Bitfinex. The whole Bitfinex/Tether debate has been ongoing for many months (explain), with a plethora of accusations. This is likely not the last time Bitfinex and Tether will make headlines. After a long timeline of events that precedes the current Bitfinex and Tether narrative, the public may still need an official audit to be convinced of solvency.
Did we miss an important piece of news? Send us an email at Editor@cryptoinsider.com