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Bitcoin News Roundup for July 17, 2020

With Binance expanding its miner ambitions and Thailand's CBDC seeing early use, CoinDesk's Markets Daily is back with another bitcoin news roundup.

Updated Sep 14, 2021, 9:32 a.m. Published Jul 17, 2020, 4:00 p.m.
Markets Daily Front Page Adam Lyllah

With Binance expanding its miner ambitions and Thailand's CBDC seeing early use, CoinDesk's Markets Daily is back with another bitcoin news roundup.

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This episode is sponsored by Bitstamp and Crypto.com.

Today's Bitcoin News:

First Mover: Why Bitcoin Traders Couldn't Give a Sat About the Twitter Hack

Bitcoin barely moved on this week’s Twitter hack. Here's what analysts said about why the attack had so little effect on prices.

Binance Pool Poised to Grab More Bitcoin Mining Hashrate in Russia

Binance is looking to consolidate more bitcoin mining hashrate to its pool in Russia and the Central Asia region.

Thailand Already Using Central Bank's Digital Currency

Thailand's digital currency is backed by the central bank’s foreign currency reserves, which have grown by $25 billion over the past 12 months.

For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.

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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb

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The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.

What to know:

  • Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
  • The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
  • Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.