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Bitcoin News Roundup for Aug. 28, 2020
With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:49 a.m. Published Aug 28, 2020, 4:00 p.m. 1 min read
With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup!
For early access before our regular noon Eastern time releases , subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Stories:
Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets
Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve's announcement of a more relaxed approach to tackling inflation.
Binance's Bitcoin 'Bid-Ask Spreads' Tighten as Cryptocurrency Markets Mature
The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets.
Chainalysis Report Shows Healthy Crypto Usage in Venezuela
The Venezuelan government's push to create a cryptocurrency-centric economy appears to be working, but perhaps not in the way officials had hoped.
Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia
Affected mining centers in the area may see a notable increase in electricity costs.
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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The S&P 500 posted its longest weekly winning streak since 2023 and Brent oil stabilized near $92 on US-Iran ceasefire hopes. The biggest cryptocurrencies still drifted lower, with Hyperliquid's HYPE the only major name to rally.
What to know:
- U.S. stocks and oil rallied, with the S&P 500 logging a ninth straight weekly gain and Brent crude hovering near $92 a barrel on hopes for a U.S.-Iran ceasefire extension.
- Major cryptocurrencies lagged the macro rally, with bitcoin, ether and other large-cap tokens falling around 2% to 6% amid cooling...
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