Bakkt's institutional custody business grows to 70 clients / Visa's head of crypto: CBDC's aren't being "taken seriously" / Crypto Masterclass

Inside Cryptocurrency .

Inside.com Part of   Network May 18, 2020

Welcome to today's newsletter. Here's a quick summary of our top stories: Bakkt's institutional custody business has grown to over 70 clients ahead of the launch of its Bakkt app (feature only available to Inside Crypto premium readers). Visa's head of crypto: CBDC's aren't being "taken seriously" (feature only available to Inside Crypto premium readers). Crypto Masterclass, featuring venture capital firm Andreessen Horowitz (feature only available to Inside Crypto premium readers). Just a quick 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 7 slots left!) if you use the promo code Crypto50. Click here to upgrade to premium! Best, Rebecca

Market Watch Coin prices are mostly positive for the start of the trading week. Bitcoin remains within the $9,000 range and is steadily gaining ground on $10,000 again. XRP has reclaimed its position in third place, pushing Tether back into fourth. Bitcoin $9,603 +0.97% Ethereum $212 +5.06% XRP $0.203 +0.60% Tether $1.00 -0.13% Top 100 Winner: Numeraire $29.49 +8.55% Top 100 Loser: Electroneum $0.008 -14.53% Prices are as of 3:00 p.m. ET.

Bakkt's institutional custody business has grown to over 70 clients ahead of the launch... To find out more, sign up for Inside Crypto Premium. Simply use the code Crypto50 to get 50 percent off. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

The head of crypto at Visa doesn't think that central banks are serious about central bank digital currencies (CDBCs)... To find out more, sign up for Inside Crypto Premium. Simply use the code Crypto50 to get 50 percent off. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

Our Crypto Masterclass feature showcases a well-known thought leader or expert in the crypto space. Today, I focus on a report from venture capital firm Andreessen Horowitz, which thinks that the crypto space will be favorable to investors in the future. "Even though crypto cycles look chaotic, over the long term they’ve generated steady growth of new ideas, code, projects, and startups — the fundamental drivers of software innovation." To find out more of from the Andreessen Horowitz report and receive our Masterclass every day, sign up for Inside Crypto Premium. To take advantage of 50% off on monthly plans, simply use the code Crypto50. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

April saw just 32 deals across venture capital funding projects, bringing the total to nearly... To find out more, sign up for Inside Crypto Premium. Simply use the code Crypto50 to get 50 percent off. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

Jerome Powell, chair of the U.S. Federal Reserve, has said that it has the ability to create money digitally. Speaking in an interview on "60 Minutes," Powell noted that the Fed had flooded the market with money amid COVID-19 and the Dow Jones falling in March. He went on to say that it can print U.S. dollars digitally, which is achieved by buying Treasury Bills or bonds for government-guaranteed securities. Powell said that this increases the money supply. CBS NEWS

Lex Sokolin, ConsenSys’s co-leader for fintech and decentralized finance (DeFi), is concerned Libra might become a "developer magnet" if it takes off. In an interview, Sokolin said that Facebook's stablecoin project could have a negative effect on open-source crypto development, adding that aside from Ethereum there's nowhere else where developers can create decentralized software. He went on to say that it would "suck" for developers if the U.S. Congress said it was comfortable with Libra and that was where it would trial its central bank digital currency (CBDC). THE BLOCK

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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