Hey everyone! Welcome to your free Friday newsletter. Here's a quick summary of our top stories: - Mark Cuban: Bitcoin can be a store of value.
- Celsius Network surpasses $1 billion in total crypto deposits.
- Crypto Masterclass, featuring Adam Back, the founder of technology company Blockstream, who thinks that unlimited money printing will push Bitcoin to $300,000.
A reminder: If you subscribe to our premium content, you'll receive Inside Cryptocurrency ad-free five days a week, along with features like our daily Masterclass, interviews with crypto experts, and the latest studies and reports on crypto. Right now, we're offering 50% off of our monthly plan (only a few slots left!) if you use the promo code Crypto50. Click here to upgrade to premium! Best, | |  Rebecca |  | | |
Market Watch Bitcoin is gaining on the $10,000 mark again in Friday trading. Can it hit this marker over the weekend? | Bitcoin | $9,789 | +1.36% | | Ethereum | $244 | +0.30% | | Tether | $1.00 | +0.16% | | XRP | $0.204 | -0.10% | | Top 100 Winner: WAX | $0.071 | +53.49% | | Top 100 Loser: HedgeTrade | $2.80 | -4.89% | Prices are as of 3:00 p.m. ET.
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Decentralized lending and borrowing platform Celsius Network has surpassed $1 billion in total crypto deposits. Since the launch of its mobile app in 2018, the platform has also paid more than $17 million in interest rewards to its community of HODLers, of which $12 million was in Bitcoin and more than $3 million in Celsius Network's native CEL token. This latest announcement comes on the news of Celsius acquiring over 110,000 active users earlier this year. Alex Mashinsky, CEO of Celsius Network, said that its users earn up to 11.9% annually on their crypto assets without paying any fees or credit checks. COINTELEGRAPH 
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 Mark Cuban has said that Bitcoin can be a store of value. However, in a series of tweets, the American entrepreneur and investor said that it won't replace the current system. Cuban's comments were in response to Twitter user Preston Pysh, who stated that central banks are "inflating the fiat monetary base." Pysh, who highlighted the challenges of the federal reserve system, didn't convince Cuban about the benefits of Bitcoin when he mentioned that money printing is a short-term fix. With one hypothetical scenario, Cuban questioned that if he owned one million Bitcoin with $10 billion, what would he be able to do with it in 50 years? More: @MCUBAN/TWITTER
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 Follow Friday: Isaiah Jackson (@bitcoinzay) Isaiah Jackson is the man behind the book "Bitcoin and Black America." According to the blurb, it "explores the synergy between black economics, Bitcoin and blockchain technology." As the founder of the KRBE Digital Assets Group, Jackson believes that Bitcoin could play an important role in tackling economic disparity in black communities. He's also co-host of The Gentlemen of Crypto. His poster was also featured in British Vogue, which was captured during the #BlackLivesMatter protest in London earlier this week.
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Our Crypto Masterclass features a well-known thought leader or expert in the crypto space. Today, I focus on Adam Back, the founder of technology company Blockstream, who thinks that unlimited money printing will push Bitcoin to $300,000. "It might not require additional institutional adoption." Back, who says that he doesn't sell the Bitcoins he mines, states that it will be retail investors who continue to carry the torch as institutions remain cautious about supporting Bitcoin. In his view, he believes that the price of Bitcoin will rise to $300,000 within five years from its current value of around $10,000. He adds that such a price rise may not require more institutional adoption because the current financial climate is seeing more people think about hedging and retaining value "when there's a lot of money printing." BLOOMBERG
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Social impact startup All_EBT is partnering up with the Telos Foundation to issue digital food stamps on the Telos blockchain. All_EBT (electronic benefit transfer) enables people to transfer their food stamps on a virtual card, which can then be used to buy food online at delivery services such as DoorDash and Instacart. The startup, which is backed by Facebook, Draper Associates, and EOS, has already provided 10,000 EBT recipients with virtual cards. The use of the blockchain will help to keep a record of transactions, while verifying data and reducing fraud. DECRYPT
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 Fintech startup Revolut has reportedly told staff to quit or be fired as it undergoes cost-saving measures amid COVID-19. Revolut, which enables the buying, selling, and holding of Bitcoin, Ethereum, and Litecoin, is said to have asked over 50 Poland and Portugal-based workers to quit since the pandemic first broke out. According to the report from Wired, one former staff member was given just 30 minutes - without time to get legal advice - to agree to a "mutual agreement" that offered her small severance pay and stated she was leaving the company of her own choosing or face being terminated for "underperforming" in her job. She eventually chose the mutual agreement but said she was pressured into doing so. WIRED
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 |  | This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. | | | | Editor | Jonathan Harris is a writer for Inside.com. Previously, he wrote for The Huffington Post, TakePart.com, and the YouTube channel What’s Trending. | |
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