New all-time highs for Bitcoin, 87% flash crash hits Binance.US, and would you have your eyes scanned for a new crypto project? These stories and more this week in crypto.
Bitcoin briefly hit a new all-time high of $ 66,000 after the first bitcoin ETF began trading on NYSE Arca. The BITO-ticked ProShares Bitcoin Strategy ETF has become one of the most successful ETF products ever launched in the traditional market, with a trading volume of over $ 1 billion on day one.
Binance’s U.S. exchange experienced a momentary lightning crash when Bitcoin briefly dropped to around $ 8,000 on the platform. Binance explained that there was a bug in its trading algorithm that caused the sell-off. Although the crash lasted less than a minute, it is believed that some traders managed to buy at a discount.
The retail chain Walmart began quietly installing bitcoin ATMs in 200 of its stores across the United States as a pilot to allow its customers to use cash to buy bitcoin. Coinstar operates the machines in partnership with the crypto exchange Coinme. Machines will require identity verification in order to purchase BTC.
Social media giant Facebook has chosen Coinbase to provide custody of the assets it will offer to testers of its new Novi wallet. Originally announced 2 years ago as “Libra”, Novi was designed to help traders send money anywhere in the world at no cost, but the project has encountered several regulatory hurdles over the years.
Grayscale Investments has confirmed that it will convert its Bitcoin Trust into a bitcoin cash exchange traded fund. The NYSE Arca Exchange has already filed a document with the SEC to convert GBTC to ETF. The trust is currently the largest bitcoin investment vehicle in the world and holds over 3% of all Bitcoin in circulation.
The US Treasury Department has issued guidelines for crypto companies on how to comply with current sanctions. These packages are designed for cryptocurrency exchanges, miners, and wallet providers detailing topics such as using tools to block IP addresses of sanctioned countries, monitoring transactions to identify fraudulent individuals and l ” regular audit of past transactions to reveal illicit cryptographic addresses.
The 175-year-old US news agency Associated Press will provide economic, sports and election data to Chainlink to ensure all data from its US newspapers and broadcasters is cryptographically verified. Chainlink is blockchain’s most popular data oracle; it takes real-world data and chains it for use by smart contracts.
A new cryptocurrency project uses people’s retinas to create a unique personal identifier called IrisHash as part of securing personal data. In exchange for certain coins, people are invited to look into a silver orb that captures their information. Worldcoin announced new funding this week and said it has already scanned 130,000 eyes across the world.
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That’s what happened this week in crypto, see you next week.