TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Elon loves bitcoin, but won’t use it for his companies. Bitgo offers up to $100 million crypto insurance. FBI is seeking Bitconnect victims. Binance DEX launched on testnet. Crypto trading numbers at a 300 day high, and EOS pawns Ethereum in the dApp race.
Elon Musk Praises Bitcoin, Will Replace Paper Money
Elon Musk, the creator and CEO of Tesla Motors, has praised the benefits of bitcoin in a podcast interview. Musk declared the cryptocurrency “is a far better way to transfer value than pieces of paper, that’s for sure.” He also stated “paper money is going away,” a belief also shared by Tim Draper earlier this week. However, he said Tesla won’t be adopting cryptocurrencies anytime soon. “We’re just really trying to accelerate the advance of sustainable energy,” he concluded.
Bitgo Offers Crypto Insurance of $100 Million
Bitgo, a cryptocurrency security company, has announced recently they will be providing cryptocurrency insurance services for losses up to $100 million dollars through Lloyd’s, the world’s leading insurance market. All the assets in their custodial service care and stored in their business wallets will be covered, something investors must celebrate after the disaster of the QuadrigaCX incident.
FBI Seeking Bitconnect Scam Victims
Finally, almost one year later, the FBI is seeking victims of the Bitconnect scam that impacted many US investors and normal people who put their money in the company. Victims of the scam are directed to a page with a questionnaire about their activities in the now-defunct cryptocurrency invest company. This input, the FBI noted, will be used to identify investors and victims, and to pursue further actions against those responsibles.
Binance DEX Now Live On Testnet
Binance, the world biggest cryptocurrency exchange, has put in motion the testnet for their decentralized exchange, Binance DEX. The company wants to start ironing out possible problems and errors the platform might have, and to hear user input on how the exchange works. ChangPeng Zhao, Binance CEO, declared, “At this stage, we simply want to develop the best DEX as fast as possible.”
Crypto Trading Numbers Hit 300 Day High
Bullish market signs are starting to pile up, according to a new article by Coindesk. According to numbers from Coinmarketcap, total cryptocurrency traded globally has reached an astounding number of $33.85 billion daily, breaking a previous record achieved 300 days ago. The most-traded cryptocurrency was bitcoin, providing almost 90% of the total traded volume.
EOS dApps Pawning Ethereum Siblings
EOS is quickly turning into the default decentralized application (dApp) platform, and the numbers show it. In any given day, more than 50% of the EOS dApps are being used, compared to almost 10% of their Ethereum counterparts. The number of transactions is also important. According to LongHash, the most popular EOS dApp has more than 450K transactions a day, compared to 200K from the most popular Ethereum dApp.
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