Crypto News Cast 📮 27-11-2020

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Welcome to The Crypto News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap: $492 B
📊24h Mcap %: -13.00%
⚠️Bitcoin Dom: 62.30%
📌Active Coins: 4,729
📍24h Vol %: -83.58%
💲24h Vol: $209 B

Crypto News Updates :

• Mike Novogratz Urges Investors To Have Bitcoin and Ethereum
• Colombian Stock Exchange To Promote OTC Markets Using Blockchain
• Ripple CEO Points Bullish Attitude Of Institutional Investors Towards Crypto
• Russia To Recognize Crypto As Property
• China’s National Blockchain Project Adds Support For Polkadot
• Record $7.4B Bitcoin Futures Open Interest Shows Pros Are Still Bullish
• Cypherpunk Holdings Becomes 9th Largest Public Holder Of Bitcoin
• Facebook's Libra Could Launch Its Stablecoin In January
• Tether Market Cap Spiked To $19 Billion

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Mike Novogratz Urges Investors To Have Bitcoin and Ethereum

Mike Novogratz; Founder and CEO of Galaxy Digital, Former hedge fund manager and Billionaire investor urges investors to have some percentage of Bitcoin and Ethereum in their portfolio. He sees Bitcoin as a hedge against devaluation of fiat. He also said that this Bitcoin rally is different from 2017 because there are more institutional investors now than then. He sees cryptocurrency as the future of Payments where everyone can participate. Read Full on CryptoGlobe.

Colombian Stock Exchange To Promote OTC Markets Using Blockchain

Colombian Stock Exchange joins hands with Consorcio Colibrí, a private initiative and member firm Contrato Marco to promote and improve over-the-counter derivatives market using Blockchain technology. This will increase the adoption of blockchain technology within the finance industry. Juan Manuel López, executive director of the Contrato Marco said that this agreement will open doors to financial advancement in the future. Read Full on cointelegraph.

Ripple CEO Points Bullish Attitude Of Institutional Investors Towards Crypto

Brad Garlinghouse, Ripple CEO emphasized the massive increase in institutional investors towards Bitcoin and crypto assets. He indicated that Bitcoin is a hedge against inflation and a great store of value. In a series of Tweets, Ripple CEO attributes this increased interest from investors to improvements in real world use case of digital assets. He promoted XRP as a more preferable option for payments. Tech executives are also bullish towards cryptocurrency. Read Full on twitter.

Russia To Recognize Crypto As Property

Russian prime minister Mikhail Mishustin has appeared to express support for the further development of the local cryptocurrency market. At a recent governmental meeting held on Nov. 26, Mishustin proposed the introduction of legal protections for crypto holders in the country in order to contribute to the growth of the new industry. As part of the plan, Mishustin proposed amending the Russian Tax Code to recognize cryptocurrencies like Bitcoin (BTC) as property. Read Full on cointelegraph.

China’s National Blockchain Project Adds Support For Polkadot

Chinese government-backed blockchain initiative, the Blockchain Service Network, or BSN, is introducing support for another batch of major blockchain protocols. It announced that it will integrate Polkadot, Oasis and Bityaun into its ecosystem on Nov. 30. Polkadot's blockchain protocol is designed to connect multiple specialized blockchains into one unified network. Polkadot also enables processing of numerous transactions on several chains in parallel, bringing another level to its network capacity. Read Full on cointelegraph.

Record $7.4B Bitcoin Futures Open Interest Shows Pros Are Still Bullish

Though Bitcoin price failed to blast through the $20,000 level this week but multiple records related to volume and open interest were made recently. One notable achievement was the open interest on aggregated futures contracts reached $7.4 billion at derivatives exchanges. There has been a 110% increase over the past 6 months, and it is also worth noting that the Chicago Mercantile Exchange (CME) now holds over $1.1 billion of these contracts. This data is indisputable evidence of the growing institutional participation in BTC markets. Read Full on cointelegraph.

Cypherpunk Holdings Becomes 9th Largest Public Holder Of Bitcoin

Cypherpunk Holdings a privacy-focused Canadian investment company, has upped its stake in Bitcoin (BTC). The company disclosed Thursday that it has added 72.979 BTC to its reserves since June 30, 2020. With the purchase, Cypherpunk now has 276.479 BTC in its reserves, making it the ninth-largest public Bitcoin holder. Toronto-based Cypherpunk Holdings is the owner of privacy-focused Wasabi Wallet and Samourai Wallet. Read Full on U.Today

Facebook's Libra Could Launch Its Stablecoin In January

The Facebook-led Libra Association is reportedly targeting the launch of its first stablecoin in January of next year. The Financial Times reported the news on Thursday, citing "three people involved in the initiative." According to one of the persons, the first stablecoin would be dollar-backed, while other planned single-currency and multi-currency stablecoins would be launched later. The actual launch date of the dollar-pegged stablecoin would depend on when Libra gets a payment services license from the Swiss Financial Market Supervisory Authority, FINMA. Read Full on The Block.

Tether Market Cap Spiked To $19 Billion

Tether, a US dollar-backed stablecoin, has reached a total of $19 billion in market cap. Since August 31, 2020, Tether’s market cap has enlarged by about 90% from $10 billion to current all-time highs of approximately $19 billion. During this month, its market cap increased from approximately $16.5 billion, meaning it rose by 15% in November. Tether's continued growth ensures that it remains the leading stablecoin by market cap. Read Full on Decrypt.