Crypto Flipsider News – Bitcoin ETF’s $1B First Day, Facebook Launches Novi, Coinbase Partners with NBA, China Pressures McDonald’s — DailyCoin

Recap of Bitcoin Futures ETF’s Performance on First Day: $1 Billion in Trades

After years of ready, the crypto group has lastly gotten the primary Bitcoin futures ETF within the U.S., and it didn’t disappoint. Debuting on the New York Stock Exchange on October 19, the ProShares Bitcoin Futures trade-traded fund (ETF) hit $1 billion in trades.

At the top of the primary day, 24,417,166 shares of ProShares Bitcoin Strategy ETF (BITO), or roughly $1.002 billion, had been traded on NYSE. BITO opened at $40.88 on October 19 however was at $41.94 on October 20, a 3% value improve in lower than 24 hours.

As anticipated, the launch of the primary Bitcoin ETF sparked a value rally, sending BTC as excessive as $64,434, simply 0.7% shy of its all-time excessive. Bitcoin was buying and selling at $64,035 on the time of this writing.

The 5-day value chart of Bitcoin (BTC). Source: Tradingview

The launch of the brand new crypto safety on Wall Street marks one other step nearer to mainstream investing for Bitcoin and the crypto universe at giant.

Facebook Launches Crypto Wallet Novi, U.S. Lawmakers React

After years of flirting with cryptos, the world’s main social media platform, Facebook, has launched its Novi pockets app. More than two years after the primary announcement, Novi lastly rolled out, however as a small pilot program for the U.S. and Guatemala.

The pilot program will let customers ship and obtain cash “instantly, securely, and with no fees.” According to the announcement, Facebook might be utilizing the Paxos stablecoin in partnership with Coinbase (custody accomplice holding the funds for the pilot program).

There is one lacking characteristic, the Facebook-backed Diem initially meant to be the cornerstone of the undertaking. However, in accordance to David Marcus, co-creator of Diem, the pilot is supposed to “test core feature functions, and operational capabilities in customer care and compliance.”

Facebook at present has roughly 2.89 billion month-to-month energetic customers, making it probably the most well-liked platforms. Its Novi pockets might assist in the mass adoption of cryptos.

Coinbase Announces Exclusive Partnership with NBA, Chainalysis to Add Bitcoin Balance Sheet

The publicly traded American crypto trade platform Coinbase has announced a partnership deal with the National Basketball Association (NBA) and its sister group, the Women’s National Basketball Association.

The multi-12 months partnership will see Coinbase “create interactive experiences to engage with the NBA and WNBA’s incredible community and athletes.” This will embrace creating content material and campaigns geared toward educating basketball followers about crypto.

The blockchain information platform, Chainalysis, has announced plans to buy an undisclosed quantity of Bitcoin. The Bitcoin buy would be the agency’s first and might be executed by the New York Digital Investment Group’s brokerage companies.

On October 19, Chainalysis revealed that will probably be increasing its partnership with  NYDIG to buy Bitcoin by way of its brokerage service.

The involvement of extra industries within the crypto universe is a transfer in the correct path for reaching world adoption.

China Presses McDonald’s to Support Digital Renminbi Before Olympics

It is not information that China has been on the forefront of the CBDC race, finishing a number of check pilots for its digital foreign money. What is new is that China is pressuring McDonald’s to develop its e-foreign money system earlier than the Olympics to help the digital Renminbi.

The e-renminbi, or e-CNY, is the authorized tender issued by the People’s Bank of China that enables individuals to make digital transactions by a cell phone app. China is at present pushing for the widespread use of the e-renminbi by the point the Beijing Games begin in February.

American quick-meals firm McDonald’s at present permits customers to use digital renminbi wallets at 270 places in Shanghai. However, in accordance to studies, China is pressuring McDonald’s to develop the system extra broadly throughout China.

An insider report states that each Visa, a high Olympics sponsor, and Nike, a U.S. staff sponsor, have been additionally going through stress. However, Visa and Nike each declined to remark.

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