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October 28, 2020 | Issue #141

 MUST READS 

JP Morgan Dives Into Crypto


According to a report from CNBC, JP Morgan has stated that its digital currency, JPM Coin, is being used commercially for the first time this week by a large technology client to send payments around the world.

This development (along with others) has led JP Morgan to hire over 100 people at its blockchain unit it has renamed Onyx. The division will house JP Morgans crypto-related projects.
 

Paul Tudor Jones with More Epic Bitcoin Insight


Back in May, PTJ – one of the smartest and most successful investors of the last quarter-century – dropped the mic by claiming Bitcoin will be the "fastest horse" in the midst of today's economic crisis.

Last week, he went on CNBC and dropped some more food for thought (arguably, some of the most bullish statements made on BTC this year)...

"I've never seen a store of value where you also have [such] great intellectual capital behind it... When you short the bond market as an inflation hedge you're really betting on the fallacy of mankind rather than its ingenuity."

"Bitcoin has a lot of characteristics of being an early investor in a tech company...it's like investing with Steve Jobs and Apple."


Here's the full clip.
 

PayPal Rumors


Last week, we discussed Paypal's (PYPL) announcement that it will offer its 346M user base the chance to buy, hold and sell crypto...

This week, a report from Bloomberg stated that PayPal is exploring acquisitions of cryptocurrency companies including Bitcoin custodian BitGo. The report states that the companies "could reach a deal within weeks."
 

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 DEEP DIVE 

Fundamentals Show Bitcoin Is Poised for Takeoff


If you're a weekly CoinSnacks reader, you're well aware that BTC has been growing in ways we haven't seen in previous bull runs. As of late, it seems as if all the stars have aligned for another substantial price jump.

But what's even better is that updated on-chain data supports this bullish sentiment as well...
 

State of Crypto 2020: Founders Survey


As we enter the final stretch of an eventful 2020, VC firm Digital Currency Group (DCG) polled the founders and CEOs of our more than 150 portfolio companies on a range of topics and trends.
 

 REGULATORY FRONT 

Avanti Financial Joins Kraken as a Wyoming-Approved Crypto Bank


Avanti Financial’s banking charter was approved unanimously by the Wyoming State Banking Board today, becoming the second newly chartered bank in the state in 2020 after Kraken Financial earned approval last month.
 

Trump Campaign Website Hit by Hackers Touting Crypto Scam


Donald Trump’s campaign website was briefly compromised yesterday as hackers looked to fleece cryptocurrency from unsuspecting supporters in the final days before the 2020 election.

As reported by the New York Times, the hackers appeared to be soliciting Monero.
 

 TWEET OF THE WEEK 

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The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. The digest is curated by CoinSnacks employees and sent once a week.
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