Markets Outlook

With a new plan to return more than 100,000 BTC to long-suffering exchange customers-turned-creditors and with a look at Argentina and broader crypto adoption across South America, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com and Nexo.io.Today's stories: Bitcoin May Have Hit Wall of Profit Takers Around $19,500: AnalystHuobi Global saw an influx of larger-than-average bitcoin deposits soon before the price drop, an analyst said.Mt Gox Creditors' Wait Nearly Over as Trustee Announces Draft Rehabilitation PlanMt. Gox’s trustee Nobuaki Kobayashi has at last filed a draft plan for the rehabilitation of creditors including former users.Crypto Is Booming in Economically Challenged ArgentinaArgentina's crypto industry saw record trading volumes this year, amid the COVID-19 pandemic and economic hardship.Buterin Warns Followers Not to Take Out Personal Loans to Buy Crypto Ethereum founder Vitalik Buterin took to Twitter to warn his followers not to take personal loans to purchase cryptocurrencies.

With BTC back up above $19K and the upcoming digital yuan not looking to "replace existing currencies," CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com and Nexo.io.Today's stories:Bitcoin Still on Track to Breach $20K in Coming Weeks: AnalystsBitcoin's revived uptrend could soon lead to a much-anticipated breakout above the $20,000 mark, according to several analysts.MassMutual's $100M Bitcoin Investment Marks Adoption Milestone: JPMorgan JPMorgan analysts said MassMutual's recent $100 million bitcoin purchases are a sign of growing mainstream acceptance for the cryptocurrency.Bitcoin's Relationship With Gold Is More Complicated Than It Looks Just because gold is losing momentum and bitcoin is gaining it doesn't mean investors are selling gold to buy bitcoin – not yet, anyway.Ex-People's Bank Chief Says Digital Yuan Not Planned to Replace Global Currencies "We are not like Libra and we don’t have an ambition to replace existing currencies,” said a former governor of the People's Bank of China.

In this special episode of Markets Daily, CoinDesk Podcasts editor Adam B. Levine reads Danny Nelson's exploration of Michael Saylor, CEO of Microstrategy and one of CoinDesk's Most Influential people in 2020This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.

With the price of bitcoin looking weak and a major crackdown on crypto anonymity in France, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.Stories:First Mover: Bitcoin Stuck as ECB's Lagarde Primes Extra €500B StimulusThe ECB's decision to expand an emergency bond-buying program by €500B may represent latest installment of years-long balance-sheet increase.France Declares War on Crypto Anonymity, Cites 'Terrorism' in KYC MandateThe French finance ministry is imposing sweeping KYC rules on all VASPs in the country.Cryptocurrency Founder Charged With Avoiding Tax to Buy Yachts and Homes"Bruno Brock" is alleged to have avoided tax on sales of the pearl cryptocurrency as well as minting free tokens for himself.SpaceChain Awarded $585K Grant to Co-Develop Decentralized Satellite SystemU.K.-based SpaceChain beat 13 other national applicants to secure the funding.

With bitcoin dropping more than $1,000 in overnight trading and more positive comments from the head of the world's largest hedge fund, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.Stories:First Mover: Why Wells Fargo Won't Recommend Bitcoin to ClientsA Wells Fargo unit doesn't recommend bitcoin to clients, since they can't yet hold cryptocurrency in their accounts. What if that ever changed?   Bridgewater's Ray Dalio Softens Stance on Bitcoin, Says It Has Place in Investors' PortfoliosThe founder of the world's largest hedge fund says bitcoin can for part of a diversified portfolio, though he may still prefer gold.Bitwise's Crypto Index Fund Becomes Available To US InvestorsBitwise has launched the first crypto index fund available to investors in the U.S.Citi Analyst Chides Saylor's Bitcoin Focus, Cuts MicroStrategy to 'Sell'MicroStrategy was trading sharply lower Tuesday after a Citi analyst changed his rating to "sell."

With Bitcoin down 2% from yesterday and weekly inflows to cryptocurrency funds near record highs, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.Stories: Bitcoin Drops 2% as European Stocks See Losses on Brexit ConcernsBitcoin took a dip Tuesday as traditional markets suffer the jitters over fears of a "no-deal" Brexit.Crypto Funds Have Seen Record Investment Inflow in Recent WeeksIn the last month, weekly inflows to cryptocurrency funds from institutional investors have been breaking records, according to data reported by Reuters.Blockstack's Stacks Tokens Could Be Tradable in US Amid New Blockchain LaunchBlockstack's Stacks tokens could soon no longer be a security in the US and become available to US investors.Biden Administration Will 'Ultimately Be Supportive' of Crypto: Circle CEOOon CNBC’s  ‘Squawk Box’ on Monday, Allaire spoke about the regulatory attitudes toward stablecoins and how the incoming administration may treat crypto.

With the price of bitcoin struggling to break through $20K and a possible rollback of Trump-era crypto rules in the US, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch LVL.co.Stories:Psychology, Sell Pressures Keep Bitcoin Below $20KPsychology and selling pressures have kept bitcoin's price below $20,000.US Financial Services Chair Tells Joe Biden to Rescind OCC Crypto GuidanceThe head of the House Financial Services Committee wants President-elect Biden to to rescind guidance by the OCC that national banks may hold stablecoin reserves as a service to bank customers.Japanese City to Trial Blockchain Voting SystemKaga, Ishikawa Prefecture, is looking at blockchain tech to solve problems in the city, starting with an e-voting system.

With Bloomberg predicting $50K BTC in 2021 and rumors of crypto clarity as the Trump administration winds down, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch AllnodesToday's stories:Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say "Bitcoin's macroeconomic, technical and demand vs. supply indicators supportive of $50,000 target resistance," according to Bloomberg.OCC Chief Hints at Coming 'Good' Actions on Crypto by End of Trump's TermBrooks hinted at a flurry of crypto clarity actions in the next 6 weeks that could drive more institutions into the asset class. S&P Dow Jones Indices to Launch Crypto Indexes in 2021 Financial data provider S&P Dow Jones Indices is launching a crypto asset index in 2021.Ripple CTO Says Majority Vote Would Force the Burning of Billions in XRP The Ripple exec was responding to a question asking whether a majority vote could force the destruction of XRP held in escrow.

With lots of big news around stablecoins and a quick look at ETH 2.0, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch AllnodesToday's stories:Worsening US Dollar, Inflation Metrics Bode Well for Bitcoin's Continued Rally A continued decline in the U.S. dollar and rising inflation expectations support bitcoin's long-term bullish case as a hedge asset.US Bill Would Require Stablecoin Issuers to Get Bank Charters Rep. Rashida Tlaib, Rep. Stephen Lynch and Rep. Jesus Chuy Garcia have introduced a bill that would require stablecoin issuers to secure bank charters and either obtain FDIC insurance or maintain full reserves to operate in the U.S.Valid Points: The Risks and Rewards of Staking on Eth 2.0Breaking down Ethereum 2.0 and its sweeping impact on crypto markets, weekly.Visa May Launch USDC Credit Cards Next Year Visa is linking its payments network of 60 million merchants to the USDC stablecoin, according to Forbes.

With the price of BTC closer than ever to $20K and the largest asset manager in the world talking bitcoin, CoinDesk's Market's Daily is back with another crypto news roundup.This episode is sponsored by Crypto.com, Nexo.io and this week’s special product launch AllnodesToday's stories:Bitcoin Sees Record Number of Active Users as Price Almost Hits $20K As bitcoin set a new price high closer to $20,000 on Tuesday, the network also saw record-breaking user activity.Almost 20% of PayPal Users Have Used App to Trade Bitcoin, Mizuho Says About 65% of users would use bitcoin as a currency at PayPal's 28 million merchants. XRP Led November's Crypto Bull Run With 169% Gain XRP jumped 169% in November to top the performance rankings among digital assets in the CoinDesk 20, outperforming bitcoin and ether.CEO of World's Largest Asset Manager Says Bitcoin Can Possibly 'Evolve' Into Global Asset The head of the world's largest asset manager has provided a bullish take on the world's first cryptocurrency.