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Bitcoin News Roundup for Oct. 12, 2020
With BTC back above $11K and China giving away its new digital currency, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 10:08 a.m. Published Oct 12, 2020, 4:00 p.m.
With BTC back above $11K and China giving away its new digital currency, CoinDesk’s Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Nexo.io and Elliptic.
Today's stories:
Bitcoin Down 1% After Biggest Weekly Price Gain Since July
Despite a dip today, bitcoin has crossed into bullish territory with the biggest weekly gain since July.
BitMEX Exchange Hires Compliance Chief After US Charges
BitMEX, the cryptocurrency derivatives exchange recently charged by U.S. authorities for offering illegal trading services, has hired a compliance veteran.
Shenzhen Giving Away Millions in Digital Yuan in Lottery to Boost Consumption, Test Tech: Report
The promotion is part of China's efforts to try out out and stimulate usage of its new digital currency.
Spate of Bitcoin Extortion Bomb Threats Hit Government, Schools in Japan
The extortionists demand a payment in bitcoin to avoid the detonation of an explosive device, per a report.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
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.
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