Latest price and news from the crypto space
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Top stories in the Crypto Roundup today:

  • Binance Acquires Indian Cryptocurrency Exchange to Reach a Billion New Users
  • PayPal Withdrew From Libra to Focus on Its Own Roadmap, Which Includes Cryptocurrency and Blockchain
  • The U.S. Federal Reserve Is Looking Into Launching Its Own Digital Currency

At the time of writing, bitcoin (BTC) is trading at $7,923.5 (-2.21 %) with a daily Top Tier volume of $901.41 mn. As for ether (ETH), it is trading at $171.45 (-2.76 %) with a daily Top Tier volume of $174.6 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,844.77 (-2.87%).

 
24 hours chart of the price of BTC
 

Binance Acquires Indian Cryptocurrency Exchange to Reach a Billion New Users

 

Leading cryptocurrency exchange Binance has announced it acquired an Indian cryptocurrency exchange called WazirX, in a move that will help it reach a billion new users in the country. In India, cryptocurrency exchanges have been struggling to survive as a circular from the Reserve Bank of India banned banks from dealing with cryptocurrency-related businesses last year.

The acquisition, which is reported to have cost between $5 and $10 million, will also see Binance add the Indian rupee (INR) to its growing fiat-to-crypto offering.  Binance has further said that in the first quarter of next year it’ll integrate WazirX’s “unique auto-matching engine” into its fiat gateway to allow over a billion people to buy Tether’s USDt using INR.

 
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PayPal Explains Withdrawal From Libra: Focusing on Roadmap, Which Includes Cryptocurrency and Blockchain

 

PayPal, along with eBay, Visa, MasterCard, and Mercado Libre, withdrew from the Libra Association earlier this year. Some believed it was due to regulatory scrutiny, but in a new interview with Fortune PayPal’s CEO Dan Schulman revealed it was looking to focus on its own roadmap.

In the interview Schulman noted PayPal believes it’ll “advance financial inclusion faster” if it focuses on its roadmap than it if puts a large amount of resources on the proposed Libra cryptocurrency.

As for regulators, he said PayPal has an “extremely robust relationship with every regulator out there.” When asked about the firm’s work on cryptocurrency and blockchain technology, Schulman said he didn’t want to share much over the potential competitive advantage that could be thrown away. Per his words, it would be like sharing what PayPal’s next acquisition would be.

As for the potential they see in blockchain technology, he said:

“We think there’s a lot of promise to blockchain technology. It’s intriguing to us, but it really needs to do something that the traditional rails can’t do. (…) It’s about the applications on top of it, not necessarily using it to lower the cost by one-eighth of one eighth of a fraction.”

 
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The U.S. Federal Reserve Is Looking Into Launching Its Own Digital Currency

 

The Chairman of the U.S. Federal Reserve, the country’s central bank, revealed t’s looking into the possibility of developing a central bank digital currency (CBDC) while responding to questions from lawmakers Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.).

According to the Chairman, Jeremy Powell, the Federal Reserve has been carefully analyzing “the costs and benefits of pursuing such an initiative in the U.S.” He added the central bank isn’t actively developing a CBDC, as it may even not bring the U.S. the advantages it may bring to nations that are developing one.

Powell revealed he believes a CBDC would raise important questions when it comes to monetary policy and financial stability. His words come at a time in which China is getting ready to launch its own digital currency, and a consortium of over 20 large firms – including Facebook, Uber, Verizon, and Coinbase – prepares a fiat-backed cryptocurrency, Libra.

 
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Mbitcasino - Ready, Set, Race!

mBitcasino has experimented with its tournaments a lot, constantly working on improving them, based on feedback from its players. Now, with mBit Races, the casino feels it found the winning recipe. 

One of the main drawbacks of regular tournaments is that smaller players have little to no chances against high-rollers, which can be frustrating for small players. mBit Races were designed to give all players, high-rollers and low bettors alike, an equal winning chance, and they achieve this by using the win multiplier as the score indicator, rather than using the total bet sum. This means that low bettors will no longer get kicked out of the leaderboard by high-rollers just because the latter has a bigger bankroll, as the total bet sum is no longer relevant.

Another advantage of mBit Races is their short runtime-format of just 3 hours. That means that, if a player secures a top position, he won’t have to wait for days or weeks to get his prize, as it is the case with longer-running tournaments. Each race finishes in 3 hours, the prizes get credited, and another race begins. 

Speaking of prizes, mBitcasino has one more ace up their sleeve: the wins from mBit Races come with a 0x wagering requirement. That’s right: when you win a mBit Race, you win real money - no strings attached.

Linda Murphy, VIP Manager at mBitcasino, was excited to talk about mBit Races: “Our players loved our tournaments, and we’re confident they will love our mBit Races even more! We wanted to create something that would trigger the competitive spirit within our players, and have them go head to head for the pot, regardless of their bankroll. With mBit Races, we feel we accomplished just that - all players get an equal chance at the pot, in a healthy competition, and the winners walk home with real-money wins. It doesn’t get better than this!” 

 
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Press Release

State of the Crypto by Top Tier Exchange Volume

Toplist 20 coins by top tier volume

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