TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Swiss President declares Facebook Coin Libra has failed. UEFA to sell 20,000 2020 EuroCup tickets using blockchain. Huobi launches crypto onramp for Indonesia. Coinbase removes dApp functionality from its wallet. BTC market cap just a third of Visa’s, and Venezuela and Argentina break fiat spending in bitcoin weekly records.
Swiss President Claims “Libra has Failed”
Ueli Maurer, the Swiss president, said Libra, the cryptocurrency project spearheaded by Facebook, needs a serious rethinking in order to get approved by lawmakers worldwide. The Swiss president declared: “I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it. The project, in this form, has thus failed.” The project, introduced as a global stablecoin originally, is still facing law hurdles in the US and other countries.
UEFA to Sell 20K 2020 EuroCup Tickets Using Blockchain Tech
UEFA, The Union of European Football Associations, is going to sell 20,000 tickets for the upcoming 2020 EuroCup using a blockchain-based system. A UEFA Exclusive Sales Agent called Shankai partnered with Ethereum-based Aphawallet, and will provide the technology to tokenize tickets to avoid ticket forgery and control sales and margins.All of these activities are public and will be monitored using the Ethereum blockchain.
Huobi Launches Fiat Ramp in Indonesia
Huobi, one of the most important cryptocurrency exchanges at a worldwide level, recently announced the launch of a fiat cryptocurrency onramp for Indonesia. The service will allow users of the country to exchange Indonesian Rupiah (IDR) to Tether, and exchange them later for all of the currencies available on the exchange. “The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets,” said David Chen, Huobi Cloud senior director.
Coinbase Wallet Removing dApp Browser Functionality
Coinbase is retiring the functionality of the dApp browser in its wallet for iOS devices, according to a Reddit post. According to Brian Armstrong, CEO of Coinbase, this is an answer to a policy of Apple that seems to be banning the usage of dApps from its App Store. This would affect other wallets with dApp browsers such as Metamask and Trust wallet. “If Apple customers want to be able to use Dapps, we may need to make this request know to Apple in some way,” Armstrong concluded.
BTC Market Cap Just 1/3rd of Visa
The market cap of BTC shrunk heavily since it almost surpassed Visa’s current market cap during the 2017 bull run. Now, BTC total market cap is of about 1/3 of Visa, and it seems unlikely the cryptocurrency will reach the company’s valuation anytime soon, according to an article from TrustNodes. Also, the stock market experienced big growth this year, and while there are recession fears hovering over the economy, it is expected this positive climate to also dominate the next year.
Venezuela and Argentina Break P2P Weekly Bitcoin Fiat Spending Records
Venezuela and Argentina are breaking their weekly LocalBitcoins P2P fiat spending in Bitcoin records, according to data provided by Coin.dance. Venezuelans spent nearly 15% more fiat money to buy bitcoin, while Argentinians spent a third more of their fiat currency to acquire them. These two countries are facing serious devaluation of their fiat currencies, a development that could be influencing bigger spending in fiat. Despite this, the Argentinian market is quite small, with only 62 bitcoins being traded, while Venezuela traded 781 BTC, far from 2487 BTC, their highest record.
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