Libra gets another addition
The Canadian e-commerce giant Shopify becomes a member of the Libra Association. Representatives of the company comment on the decision as follows: “As online commerce becomes more and more boundless, it is easy to forget that payments and the exchange of value for goods are not a solved problem everywhere. Much of the world’s financial infrastructure was not built to meet the scale and needs of Internet commerce.
Our mission is to make trade better for everyone, and to achieve this, we spend a lot of time thinking about how we can improve trade in those parts of the world where the money and banking system could be far better. […] As a member of the Libra Association, we will work together to build a payment network that facilitates access to money and supports traders and consumers everywhere. “
When is Libra coming?
After the exit of international giants such as PayPal, Visa, Stripe and Ebay, the Shopify partnership should only be a small consolation for Libra supporters. It remains unclear if and when the Facebook-Coin will be launched. After various regulatory debates it is even conceivable that the stable coin will not be launched at all. Reactions and opinions on Libra vary worldwide between euphoria and strong concerns. Last year, Benoit Coeure, for his part a member of the ECB’s Executive Board, already voiced concerns about stable coins and called for a tough regulatory approach to them.
After a turbulent week, Bitcoin is now in a sideways movement and settles at a price of around 9625 USD. The current 24 hour volume of just under 37 billion USD suggests that the current “standstill” could be a deceptive snapshot. The week has shown that the volatility is back in crypto space. For example, the BTC price fell more than $1000 USD on Saturday, in less than an hour!
The Altcoins are following the Bitcoin, since the enormous dump of Thursday, again at every turn. Previously, it looked for a short time as if the alternative assets could gradually break away from the No.1 cryto currency. Currently, the Bitcoin Dominance Index is at 62.9%. Due to the upcoming BTC Halving Event, investors should continue to focus on “digital gold” in the coming weeks.
Bitcoin Cash Hack?
A Reddit post shows that the Dreamhost founder Josh Jones has fallen victim to a gigantic hack. The attackers are said to have captured Bitcoin Cash units worth around USD 30 million and Bitcoins with a value of just under USD 15 million. Verified confirmations are still pending at the time of writing. Should the hacker attack prove to be true, this would be another setback in terms of security. This week, reports of bZx exploits caused panic in the cryptospace industry. As a result, investors withdrew millions of USD from the DeFi.