On a daily basis, different kinds of news keep emerging from the cryptocurrency and blockchain industry. However, there is not much news from the crypto-blockchain industry that is not able to earn much attention in the community.
However, some crypto-blockchain news and reports make it to the front with the amount of thrill and drama they have to offer. The vast adoption of the news is based on what kind of public and group it is targeting and impacting, to begin with.
Compiled below are some of the major news and reports from the cryptocurrency industry that have managed to earn a lot of reputation and public attention.
The first news revolves around El Salvador and acknowledgment from the analysts at the Bank of America. With every passing day, El Salvador is pushing more into the cryptocurrency industry. It is focused on the adoption of Bitcoin (BTC) at a larger scale. While most of the countries, regulators, and traditional financial institutions oppose El Salvador’s move, Bank of America analysts are supporting El Salvador’s decision.
The analysts at the Bank of America have backed El Salvador stating that the country would benefit a lot from the adoption of Bitcoin. The country would profit a lot when it comes to the remittance sector as locals won’t have to pay very high fees and charges they currently incur through traditional financial means.
Then there is news around PayPal, which is constantly paving its way into the cryptocurrency industry. The online payments service provider is going deep inside the cryptocurrency industry. It has even started carrying out hires for employees that have experience in the crypto-blockchain sector. These individuals would need to be experienced in the cryptocurrency and blockchain industry to help set up crypto-blockchain officers in Ireland.
The next news is around the investment outflows that are currently being observed in the cryptocurrency industry. The data shows that for four weeks in a row, the cryptocurrency industry has been observing investment outflows. Even in the last week, the cryptocurrency industry witnessed outflows, while the cryptocurrency sector was recovering in general and gaining in on prices. The data shows that people used the rise in the prices in their favor and started profiting from the price surge.
The data from Coinshares reveals that the investors made a profit from the sales they made for Bitcoin. The data shows that Bitcoin outflows for the fourth week were $20 million. On the other hand, the investment outflows for Ether were $9.5 million for the fourth week.
The last news revolves around the largest cryptocurrency exchange in the world, Binance. The report suggests that Binance has been banned to operate in Malaysia. The decision around the shutting down of Binance’s operations in Malaysia was made by the country’s regulator Securities Commission (SC).