This is the third episode of a weekly cryptocurrency news series called Last Week in Crypto.

We cover the latest global news stories affecting the cryptocurrency markets July 19th through 25th of 2020.


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To check out the links to all of the articles we discuss, go to https://CryptoCasey.com/Last-Week-Crypto.


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======== VIDEO SUMMARY ========

Hello, I’m Crypto Casey and welcome my new video series: Last Week in Crypto.

In this episode we will talk about what happened in the markets, Ethereum’s technical limits, the exponential growth of DeFi’s market cap, the failing US dollar, and the massive leaps and bounds that have taken place this week, that make the past decade look like peanuts.

Bitcoin’s 7-day moving average was 4.9%, and Ethereum up a staggering 23.4% overall.

As more people are discovering the power of DeFi, Ethereum’s network has been inundated with tons of action, pushing Ethereum to its technical limits and causing transaction fees to soar.

Luckily this week, an update about Ethereum 2.0 was released stating the final testnet is set to launch August 4th.

In the United States, the Office of the Comptroller of the Currency has formally stated that nationally chartered banks can hold cryptocurrencies for their customers.

And the Acting Comptroller Brian Brooks, was Coinbase’s Chief Legal Officer who left them this past March to take on this US regulatory roll.

Brian Brooks states: From safe-deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today. This opinion clarifies that banks can continue satisfying their customers’ needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency.

What does this mean for cryptocurrency?

It means massive adoption is around the corner, or by the looks of the exponential growth and DeFi and billions of Tether pouring in, doubling from $5 billion to $10 billion since March, we are probably in the midst of the onset.

This news along with Mastercard expanding their cryptocurrency program for crypto card issuers, Visa laying out a platform to integrate with cryptocurrency, and PayPal getting into Paxos to supply crypto in a new service they will offer.

This means that any regulatory threats to ban bitcoin or cryptocurrency, at least in the United States, has been pretty much eliminated.

Everything is about to absolutely explode in crypto.


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