[Comparative to Zaobao] The “CME effect” helped Ethereum break through $1,700; Twitter CEO Jack Dorsey ran a complete Bitcoin node on Mac M1; Bitfinex paid off Tether's $750 million loan, and the USDT crisis was lifted

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[The “CME effect” helped Ethereum break through $1,700]

According to comparative data, Ethereum, the second-largest cryptocurrency by market capitalization, continued to rise strongly above $1,700 on Friday, with a daily increase of more than 6%. Ethereum's recent upward momentum is influenced by the launch of Ethereum futures scheduled to be launched on the Chicago Mercantile Exchange (CME) next Monday. Analyst Alex Kruger believes that until CME's Ethereum futures products are officially launched on February 8, the price of Ethereum will continue to rise, and its price may rise above $1,900.

[Twitter CEO Jack Dorsey runs a full Bitcoin node on Mac M1]

Twitter CEO Jack Dorsey is running a full Bitcoin node on his Apple Mac M1 computer. On Friday, he shared a screenshot of his computer on Twitter showing that Bitcoin nodes are syncing, with the caption “Running Bitcoin.” Apparently his caption was in honor of Bitcoin pioneer and cryptographer Hal Finney, who also tweeted the same text when he first ran a full Bitcoin node in 2009. The Bitcoin network consists of a number of server nodes that run the underlying code that implements the Bitcoin protocol. Information such as transactions, blocks, and other data can be transmitted between nodes.

[Bitfinex pays off Tether's $750 million loan, USDT crisis lifted]

iFinex, the parent company of the Bitfinex exchange, has fully paid off its previous loan of $750 million from Tether, which also dispels crypto investors' concerns about Tether and the USDT stablecoin it issues. According to a press release issued by Bitfinex on Friday, Bitfinex borrowed $750 million from Tether in 2018. The exchange has repaid $200 million of that in the past two years, and is paying back the remaining $550 million plus interest today.

[Decentralized Exchange Agreement 0x Protocol Series A Funding Receives Support from IOSG Ventures]

Decentralized exchange protocol 0x Protocol Series A funding was supported by IOSG Ventures. As an alternative to centralized exchanges, the 0x protocol allows smart contracts, wallets, and order books to run apps independently. It makes every wallet on the network a source of decentralized liquidity. Through the 0x protocol, order books and token owners can bypass centralized entities and directly interact with P2P through a common underlying protocol. IOSG Ventures said, “Our partnership with 0x Labs shows our strong investment beliefs, and we believe DeX aggregators will play a critical role in attracting money from DeFi. Matcha's first-class design and excellent service to users is the best proof of our investment theory, and we are honored to support their team. We believe 0x Labs will inject momentum into the DeFi sector, and we will work together to develop and promote a more transparent, efficient, and fair open financial system.”

[Ethereum broke through 1,700 US dollars, 0x protocol tokens led the rise, Luyin LRC increased by nearly 30%]

Over the past 24 hours, the crypto market has risen. Ethereum broke through $1,700, once again reaching a new all-time high. ZRX, the native token of the open source protocol OX, led the rise by more than 60%. The LRC token of the Luprinting Agreement rose by nearly 30%, and Bitcoin, the cryptocurrency with the highest market capitalization, continued to consolidate. The current total market capitalization of the cryptocurrency market is $1,180,998,609,757, and the 24-hour trading volume is $236,794,289,454. Bitcoin accounts for 59.38% of the market. In the past 24 hours, 16 of the top 20 cryptocurrencies by market capitalization have risen, and 83 of the top 100 cryptocurrencies by market capitalization have risen. The overall cryptocurrency market is trending upward. The top 3 increases were: 0x (63.00%), Maker (31.33%), and Cosmos (28.65%). The top 3 declines were: UMA (-8.99%), Dogecoin (-8.88%), and HedgeTrade (-6.74%).

[Venmo, a payment app owned by PayPal, was investigated by regulators, and the original plan was to support crypto transactions “within a few months”]

According to Reuters, payment giant PayPal revealed that its mobile payment app Venmo is being investigated by US regulators. PayPal said in a regulatory filing that the US Consumer Financial Protection Administration submitted an investigation request to it last month. The main content of the investigation was Venmo's alleged involvement in an unauthorized fund transfer and collection process. According to a previous report by “Bitrate,” PayPal said on October 21 last year when it announced that it would allow customers to buy and hold Bitcoin and other virtual currencies using its online wallet, and that it also plans to expand its crypto business to Venmo users in the first half of 2021.

[Central Bank of Nigeria orders closure of bank accounts of citizens using cryptocurrencies]

According to a public document, the Central Bank of Nigeria has ordered its national bank, depository money banks, non-bank financial institutions, and other financial institutions to close bank accounts of citizens using cryptocurrencies, prohibiting citizens from using bank accounts to trade bitcoin and other cryptocurrencies on exchanges. The central bank said: “I hereby remind the regulated authorities that transactions with cryptocurrencies or the facilitation of payments on cryptocurrency exchanges are prohibited.” The central bank also made it clear that if banks do not implement this regulation, they will be subject to strict supervision and sanctions. The order did not prevent users of peer-to-peer Bitcoin marketplaces (such as Paxful or LocalBitcoins) from buying and selling cryptocurrencies through methods other than bank accounts, such as gift cards.

[Digital bank Protego was approved by the OCC to become a national chartered trust bank]

Seattle-based digital bank Protego announced on Friday that it has received conditional approval from the US Monetary Commission (OCC). Protego said in an official press release that this means the bank will change from a Washington state chartered trust company to a national chartered trust bank and will enable Protego's customers to hold, trade, lend and issue digital assets. Greg Gilman, founder and executive chairman of Protego, said, “The OCC has made tremendous progress in approving digital banks, and we are delighted to have received one of the first licenses issued by the OCC.”

[BlockTower Capital CIO: Cryptocurrency Bull Market Will Continue for 9-22 Months]

Ari Paul, chief information officer at cryptocurrency hedge fund BlockTower Capital, believes that the cryptocurrency bull market will continue for at least 9 months. Paul said in a Tweet on Feb. 4 that it is currently in the “7th round of the crypto bull market”: “Everyone is saying, 'Wait, this bull market clearly has a long way to go! ' That's true... the beginning of 2017 was already the 5th or 6th game of this bull market (similar to a standard nine-game baseball game).” Commenting on the current crypto bull market, Paul said: “In terms of time, my guess is that the bull market will continue for 9-22 months.”

Author Amy Liu

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