Ethereum 2.0: releasing December 1st

Ethereum crossed a major threshold this week, getting the necessary number of validators to initiate the Ethereum 2.0 update.

Part of the upgrade is moving the network from a Proof of Work consensus to a Proof of Stake model.

Price Update

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In the news

Paypal bought 70% of all newly mined Bitcoin last month

According to estimates by hedge fund Pantera Capital, together with Cash App, the two companies are buying in amounts that equate to 100% of all newly issued Bitcoin.

Pantera Capital's latest monthly blockchain letter argues that Bitcoin’s current rally is much more “sustainable” than 2017’s because of rising institutional demand from entities such as Paypal, Cash App, and Robinhood.

Wave of institutional investors causing challenges for Coinbase

Coinbase has revealed “an explosion of incoming capital”, with its assets under custody currently standing at $20 billion; $14 billion of which were accumulated since April.

As Coinbase's inflow of capital has brought them into the spotlight, they are also announcing the plan to end all margin trading, citing recent regulations by the Commodity Futures Trading Commission.

European Central Bank cannot go bankrupt

President of the European Central Bank, Christine Lagarde, stated this week that the institution could not go bankrupt, even if it were to incur losses in the trillions.

Lagarde further stated that normal bankruptcy rules do not apply as it is the sole issuer of euro-denominated fiat.

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