33% of BTC is used for purchasing goods, Coinbase may become the ‘Google of crypto’, SEC rejects Winklevoss, Mastercard CEO calls crypto 'junk', Iran is about to launch its own crypto
- According to data from blockchain data provider CoinMetrics about 33% of transactional activity occurring on the Bitcoin network is related to the purchase of goods or services. Thus, about 66% of BTC transactions are generated by mixers, scams, and mining pools.
- Coinbase continues to press on as one of the most significant names in the industry and may become the ‘Google of crypto’. The potential of Coinbase is growing and such factors as new acquisitions, a strong CEO, and rumors of a Facebook partnership are pushing it forward.
- The U.S. Securities and Exchange Commission (SEC) has once again rejected an effort by investors Cameron and Tyler Winklevoss to list a bitcoin ETF. As a result Bitcoin shows a rapid $300 drop to the ~$8,000 price level.
- Ajaypal Banga, the CEO of Mastercard, blasted cryptocurrencies at the Indian Consulate describing anonymous, non-state-issued cryptocurrencies as ‘junk’, because their prices can fluctuate ‘wildly’ and thus they do not ‘deserve’ to be considered a medium of exchange.
- Iran is preparing to launch its own cryptocurrency in order to help the country skirt the international financial sanctions meant to cut its access to the global economy.