Bitcoin Hits $13,000

bitcoin smashes through $11... then $12... then $13,000. Overall crypto marketcap goes above $300BN. Sounds like everyone is having a good week!

This week's news

A fake exchange website has managed to steal €24 million (over $27 million) in cryptocurrency from thousands of victims. European law enforcement agency Europol said in a press release Wednesday that six individuals have now been arrested over the scam in an operation that also involved the UK’s South West Regional Cyber Crime Unit and National Crime Agency. Europol said the criminal endeavor involved a “typosquatting” scam in which a “well-known” (but unnamed) online crypto exchange was cloned in order to gain access to victims’ crypto wallet login details and steal funds.  Please be wary of any phishing as this is increasingly becoming an issue.

Banks in the eurozone region plan to join the real-time payments system by the end of 2020, as they fear Facebook's upcoming cryptocurrency Libra, Reuters reports. The 19-country region has reportedly had the real-time payments system since 2017, but only about half of the region's banks have joined it. Post Facebook's Libra announcement, banks now feel the heat of competition, according to the report.

Square’s Cash App is launching bitcoin deposits. The app might have started rolling out the feature prior to full launch as deposits are not yet available for all Cash App users. Cash App users can purchase and sell bitcoin; they can also make cryptocurrency transfers to other wallets. According to Cash App’s website, the company will enable deposits to third-party wallets “soon.”

Connor Benoit-Milner