Bitcoin (BTC) gained almost 5% on Oct. 21 as bullish price action combined with fresh corporate adoption news to boost gains. Cryptocurrency market daily performance overview from Coin360 PayPal takes BTC price to $12,400 Data from Cointelegraph Markets and Coin360 showed a strong 24 hours for bulls on Wednesday, with BTC/USD topping out at $12,400. At press time, $12,300 formed the focal point, around an hour after Reuters reported that payment giant PayPal plans to support Bitcoin and other cryptocurrencies via its wallet and Venmo app from 2021. BTC/USD daily price chart. Source: Tradingview The announcement added to an already …

Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive. Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the country has “no imminent plans” to issue a CBDC. In a speech on Monday, Hawkesby said that the bank remains open-minded about further progress in money and payment technologies and has actively engaged in CBDC research. He said: “To issue currency that meets the needs of the public, we must take a new and holistic approach. We acknowledge there is much work …

The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed's chairman, Jerome Powell. Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to issuing CBDCs. Speaking at a Monday panel on cross-border payments hosted by the International Monetary Fund, Powell said: "We have not made a decision to issue a CBDC, and we think there’s a great deal of work yet to be done. [...] In fact, I actually do think that …

Dash holders will soon be able to access a wide range of decentralized finance, or DeFi, services through a collaboration with StakeHound. According to an announcement on Monday, tokens that are deposited with StakeHound will also earn network rewards through the Dash masternode system. In order to take advantage of the burgeoning DeFi market, Dash holders must send tokens to StakeHound, which will then instantly generate and send back a wrapped ERC-20 representation called stakedDASH. StakedDASH will be tradable and usable in major DeFi platforms such as UniSwap, Aave, Curve and others, using the Ethereum or Radix networks. They will …

The vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red envelopes” of digital yuan. As of Sunday, a total of 47,573 out of 50,000 lottery winners in China have received their prizes, Shenzhen authorities officially announced. According to the announcement, the winners conducted a total of 62,788 transactions accounting for 8.8 million yuan ($1.3 million). This amount represents about 88% of the total 10 million yuan ($1.5 million) that was to be distributed in the giveaway pilot in Shenzhen. Some winners have not only spent their “red envelopes” but also topped up their …

The Central Bank of The Bahamas, or CBOB, is planning to make its central bank digital currency project interoperable on an international level. Bobby Chen, the CBOB’s assistant manager of electronic solutions, claimed that The Bahamas’ digital currency — dubbed the “Sand Dollar” — should eventually be interoperable with other global currencies, local news agency the Nassau Guardian reported on Oct. 15. Chen said, “At the moment, it is currently only used in a domestic setting, but eventually we are working on a solution that will make it interoperable with other global currencies.” Cleopatra Davis, head of banking at the …

A bankless world is inevitable due to the “natural evolution of technology,” according to a top executive at multi-billion dollar investment manager, Morgan Creek Capital. The firm’s CEO Mark Yusko believes that a “silent revolution” powered by cryptocurrencies like Bitcoin (BTC) will eventually lead the world to a bankless society. In an Oct. 13 interview with Brazilian Dash-focused YouTube channel Dash Dinheiro Digital, Yusko said that people around the world will, in time, be able to “bank themselves through crypto.” Despite his claims regarding a bankless society, the CEO noted that he does not mean banks will disappear entirely, stating: …

A high-profile gamer is joining SBI Holdings’ gaming arm, signing a contract to receive his salary in major cryptocurrency XRP. Kengo “Ken” Suzuki, a professional player of crossover action fighting game Super Smash Bros. Ultimate, or SSBU, has signed a contract with SBI e-Sports, the gaming arm of Japanese financial giant SBI Holdings. Ken is also considered to be the world’s best Sonic player. According to an official announcement posted by SBI on Oct. 15, Ken will now be part of SBI e-Sports’ newly established SSBU division. The player will receive his annual salary in XRP instead of Japanese yen …

American fast-food giants like Starbucks and McDonald’s are reportedly not participating in China’s ongoing digital yuan tests. According to an Oct. 14 report by news agency Sina Finance, China’s central bank digital currency, or CBDC, is still being piloted on a “small scale,” primarily involving the retail and catering industry. As reported, a number of foreign merchants, which were rumored to be part of China’s CBDC tests, are actually not using the digital yuan for payment so far. Xiong’an, one of the major Chinese cities piloting the digital yuan, reportedly had 19 companies involved in its CBDC pilot, including Starbucks, …

Fidelity Digital Assets, the cryptocurrency custody and execution arm of United States financial services giant Fidelity, has claimed in a new report that retail investors will turn their attention to digital currency as they become more familiar with Bitcoin and other crypto offerings via social media platforms. According to the report, social media and communication platforms including Twitter, Reddit, Telegram, YouTube, and Tik Tok are driving the retail adoption of Bitcoin (BTC). They dissemble financial information and advice in a “more viral and rapid” way than traditional channels. “As this new wave of retail investors familiarize themselves with these channels, …

Russian financial authorities have confirmed the government’s purported plans to issue the central bank digital currency, or CBDC. On Oct. 13, the Bank of Russia released a consultation paper on the development of the digital Russian ruble. In the statement, the central bank said that the digital ruble can become an “additional form of money alongside cash and non-cash.” The establishment of Russia’s CBDC project will require the creation of additional payment infrastructure, the bank said. The bank also said that the digital ruble will have “all the necessary properties to perform the functions of money.” The project’s timing will …

A crypto payments network has been unveiled as the 10th member of Blockchain for Europe. Blockchain for Europe voted in favor of Electroneum’s membership, as their goal for financial inclusion has attracted the attention of crypto and blockchain experts worldwide. The crypto project will now rub shoulders with fellow members that include Binance and Ripple as the group “focuses on blockchain promotion and education to help the EU remain at the global forefront of innovation.” Blockchain for Europe is designed to help prominent businesses in this sector influence policymaking in the trading bloc. Welcoming Electroneum, the organization’s chair, Maria Minaricova, …