Mastercard and Paxos help banks offer crypto, Jack Dorsey details new social platform and Tesla hodls BTC: Hodler's Digest, October 16-22
Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.
Top stories this week Mastercard taps Paxos to launch crypto trading for banksBanks will soon be equipped to offer customers crypto trading and custody through a new program called "Crypto Source" from Mastercard and Paxos Trust Company. Under the program, Mastercard will cover some of the compliance, security, and interface details while Paxos will take care of the crypto custody and trading. Scheduled for the last quarter of 2022, the Crypto Source program will essentially provide the foundation for banks to offer crypto trading and custody to their customers.
Jack Dorsey unveils a decentralized social network with a choice of algorithms and portable accountsUnder the watch of former Twitter CEO Jack Dorsey, a new social media platform called "Bluesky Social" has entered its private beta phase after years of anticipation. The platform is based on a protocol known as Authenticated Transfer Protocol (formerly ADX). The protocol essentially removes the walls surrounding user data, allowing users to move their accounts between platforms rather than locking their profiles and information to one platform.
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Hodl! Tesla clings to all of its remaining $218 million in Bitcoin in Q3After unloading 75% of its bitcoin holdings in the second quarter, Tesla decided to keep its remaining BTC in the third quarter, according to the company's latest earnings report. The third-quarter earnings report details Tesla's balance sheet carrying $218 million in digital assets. In February 2021, Tesla notably disclosed that it held $1.5 billion worth of Bitcoin, but sold most of its holdings the following year due to China-related COVID-19 issues.
> Not like China: Hong Kong wants to legalize crypto tradingDespite being a special administrative region of China, Hong Kong is reportedly looking to ease its crypto regulations to favor the industry. China has taken regulatory action to discourage crypto industry activity in the past. Crypto trading in Hong Kong itself is largely restricted to professional investors, thanks to the Hong Kong Securities and Futures Commission (SFC). However, the SFC is now taking steps to allow crypto retail trading, as well as other crypto-friendly activities.
“Performing as expected” – Aptos Labs defends day one criticsAptos, a blockchain built using a programming language that was once intended for the Meta's Diem project, launched its mainnet on October 17. The well-funded blockchain created by Aptos Labs claims a processing capacity of 160,000 transactions per second (TPS). However, only 4 TPS were observed at the time of Cointelegraph's report on October 18. The initial low numbers were expected, according to Aptos on Twitter.
Available every Saturday, Hodler's Digest will help you follow every major news story that happened this week. The best (and worst) quotes, adoption and regulatory highlights, major coins, predictions and more - a week on Cointelegraph in one link.
Top stories this week Mastercard taps Paxos to launch crypto trading for banksBanks will soon be equipped to offer customers crypto trading and custody through a new program called "Crypto Source" from Mastercard and Paxos Trust Company. Under the program, Mastercard will cover some of the compliance, security, and interface details while Paxos will take care of the crypto custody and trading. Scheduled for the last quarter of 2022, the Crypto Source program will essentially provide the foundation for banks to offer crypto trading and custody to their customers.
Jack Dorsey unveils a decentralized social network with a choice of algorithms and portable accountsUnder the watch of former Twitter CEO Jack Dorsey, a new social media platform called "Bluesky Social" has entered its private beta phase after years of anticipation. The platform is based on a protocol known as Authenticated Transfer Protocol (formerly ADX). The protocol essentially removes the walls surrounding user data, allowing users to move their accounts between platforms rather than locking their profiles and information to one platform.
Read also
FeaturesOld School Photographers Struggle With NFTs: New World, New Rules
FeaturesNorth American Cryptominers Prepare to Challenge China’s Dominance
Hodl! Tesla clings to all of its remaining $218 million in Bitcoin in Q3After unloading 75% of its bitcoin holdings in the second quarter, Tesla decided to keep its remaining BTC in the third quarter, according to the company's latest earnings report. The third-quarter earnings report details Tesla's balance sheet carrying $218 million in digital assets. In February 2021, Tesla notably disclosed that it held $1.5 billion worth of Bitcoin, but sold most of its holdings the following year due to China-related COVID-19 issues.
> Not like China: Hong Kong wants to legalize crypto tradingDespite being a special administrative region of China, Hong Kong is reportedly looking to ease its crypto regulations to favor the industry. China has taken regulatory action to discourage crypto industry activity in the past. Crypto trading in Hong Kong itself is largely restricted to professional investors, thanks to the Hong Kong Securities and Futures Commission (SFC). However, the SFC is now taking steps to allow crypto retail trading, as well as other crypto-friendly activities.
“Performing as expected” – Aptos Labs defends day one criticsAptos, a blockchain built using a programming language that was once intended for the Meta's Diem project, launched its mainnet on October 17. The well-funded blockchain created by Aptos Labs claims a processing capacity of 160,000 transactions per second (TPS). However, only 4 TPS were observed at the time of Cointelegraph's report on October 18. The initial low numbers were expected, according to Aptos on Twitter.
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