Week in review: August 20, 2021 - Crypto growing in sports

week-in-review-august-20

Is crypto the new player in sports? The number 1 pick in this years NBA draft will be paid 100% of his signing bonus in Bitcoin. The crypto market topped $2 trillion for first time in 3 months as Bitcoin rallies. Is Dogecoin the strongest cryptocurrency? Read our weekly round up below.

No. 1 Pick Cade Cunningham To Be Paid In Bitcoin Via Partnership With BlockFi

Forbes: August 19, 2021

Cryptocurrency platform BlockFi announced Thursday it has agreed to a multiyear partnership with Cade Cunningham, selected by the Detroit Pistons with the No. 1 overall pick in the National Basketball Association’s 2021 draft, and that the rising star will receive his signing bonus from BlockFi directly in bitcoin.

Crypto Market Tops $2 Trillion For The First Time in Nearly 3 Months as Bitcoin Rallies

CNBC: August 16, 2021

Bitcoin topped $48,000 over the weekend, its highest level since May, but pared some of those gains on Monday. On Saturday, the digital coin hit $48,126.47, its highest level since May 17, according to Coindesk data. It last traded $45,831.37 according to Coin Metrics.

Dogecoin Jumps 12% As Mark Cuban, Elon Musk Call It 'The Strongest Cryptocurrency'

Decrypt: August 16, 2021

The weekend surge comes as investor and Dallas Mavericks owner Mark Cuban praised the cryptocurrency, joined by none other than Tesla and SpaceX CEO Elon Musk who’s single-handedly the greatest influence on DOGE pumps.

Decrypting Bitcoin and Gold

US Global Investors: August 16, 2021

As discussed on a Frank Talk last week, the Senate just approved a $1 trillion infrastructure bill that’s now the business of the House.
Among the parts of the bill that he seriously hope lawmakers will consider amending is the part that creates new tax reporting requirements for the cryptocurrency industry.

Why DeFi Could Be an $800 Billion Industry Next Year, According To a Crypto Expert

Business Insider: August 19, 2021

Decentralized finance has grown to an $80 billion industry in 2021 and is poised to explode 10-fold, according to veteran crypto investor Matthew Roszak. Roszak, who Forbes says is worth some $1.5 billion, thinks that a "perfect storm" is underway for DeFi.

Survey Shows 3 in 4 Crypto Investors Turned a Profit Investing, Crypto Represents 12% of Millennial Portfolios

Bitcoin.com: August 19, 2021

Digital currencies have seen significant gains in 2021 jumping 154% in value since January 1. On August 18, Cryptovantage published a study that shows 3 in 4 crypto investors said they had made money on their crypto holdings and cryptocurrencies represent 12% of the average millennial portfolio.

Vitalik Buterin Criticizes Square, Facebook Crypto Plans

Crypto Briefing: August 19, 2021

Buterin criticized Square's DeFi plans, suggesting that the firm will need to maintain control over user funds. In July, Twitter and Square CEO Jack Dorsey announced plans for a Bitcoin-based DeFi platform that drew comparisons to Ethereum. Buterin stated that he is “skeptical” about Square’s upcoming DeFi plans due to the fact that the firm will rely on Bitcoin.

Crypto.com Partners With Italian Football’s Lega Serie A

Cointelegraph: August 19, 2021

In a Thursday announcement, Lega Serie A said Crypto.com was going to be presenting key broadcast moments for the Italian football competition “where technology enhances the match.” Specifically, the platform has formed a multi-year partnership to help present the series’ “goal of the month,” as well as broadcast moments using video playback to judge fouls and whether goals are legitimate.

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ALT 5 Sigma covers fintech, blockchain, Bitcoin and cryptocurrencies bringing you the latest news and analysis on the future of money.