Crypto News Recap: Twitter Biggest Hack, Asia Embraces CBDC

Published July 20th, 2020 - 09:00 GMT
Crypto News Recap: Asia Takes The Lead by Embracing CBDC, Bitcoin Scammers Steal $120,000 in a Twitter Massive Hack
36% of US and European Investors say they are currently invested in digital assets, and 6 out of 10 believe digital assets have a place in their investment Portfolio. (Shutterstock) 
Here are the markets highlights for the week

Last week was a very 'eventful' week in the crypto atmosphere, as the market juggled between the good news of east Asia's adoption to the unfortunate Twitter breach incident. 

12 BTC Stolen in a High-Profile Twitter Accounts Hack

The twitter accounts of several high-profile individuals and companies like Musk, Biden, Obama, Apple, and others were hacked in one of the most widespread breaches Twitter platform ever witnessed. Multiple investigations are being conducted now to unveil how the incident happened exactly. 

The attacker fake-posted about BTC giveaways from the compromised accounts if the users send some. The attack resulted in stealing 12 BTC ($120,000)  from unlucky users. Twitter's CEO Jack Dorsey announced in a tweet:

Twitter users can now send cryptocurrencies via Torus

Despite the breach news that took over the media, Twitter users will be able to send cryptocurrencies to each other even if they have never logged in to Torus according to the company's announcement.

The new update also allows users to log in using any of these accounts to create Ethereum blockchain wallet: Google, Facebook, Reddit, Twitch, Discord, AppleID, Github, LinkedIn, Twitter, Line.

Fidelity Survey: Almost 80% of US And European institutional investors find digital assets appealing

The research Fidelity conducted on 800 European and US investors, from November 2019 to early March 2020, aimed at understanding institutional interest in cryptocurrencies, revealed that Bitcoin continues to be the digital asset of choice with over a quarter of respondents holding bitcoin; 11% have exposure to Ethereum.

The survey also stated that 36% of US and European investors say they are currently invested in digital assets, and 6 out of 10 believe digital assets have a place in their investment portfolio. “Looking out five years, 91% of respondents who are open to exposure to digital assets in a portfolio expect to have at least 0.5% of their portfolio allocated to digital assets,” the report adds. 

China Plans to Test Digital Yuan on Food Delivery Platform Backed by Tencent Holdings Ltd.

In a significant step towards crypto adoption, the People’s Bank of China (PBoC) is currently planning to begin testing the Digital Yuan on ‘Meituan Dianping’ a 435 million users local food delivery service platform owned by Chinese giant Tencent Holdings, as Bloomberg reported.

Earlier this month, the Chinese largest ride-hailing service ‘DiDi Chuxing’ has joined the Digital Yuan testing Initiative on its 550 million users, according to Fortune.

While there is no launch date for the Central Bank Digital Currency (CBDC) announced yet, the Chinese government has ramped up the efforts to explore all the use cases of the Digital Yuan in order to augment it into everyday life.

Japanese Gov’t to Include CBDC in Financial Plans

According to the Japanese flagship publication Nikkei, The Central Bank of Japan is considering the inclusion of a CBDC in the country’s financial plans. The outlet also reported that Japan is mulling cooperation with other countries in preparation of the new Digital Yen plans.

Crypto Market Cap:


Events to keep an eye on:

Singapore Blockchain Week 2020 - (Jul 21, 2020 - Jul 21, 2020) to be held virtual.

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