Market Watch | Bitcoin | $11,894 | 7 day: +3% | | Ethereum | $417 | 7 day: +5.4% | | All crypto | $372b | 7 day: +3.3% | | Bitcoin dominance | 59% | 7 day: -0.5% | Prices as of 4 p.m. ET
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 Roger Ver says nothing as Grayscale Bitcoin Cash Trust (OTCQX:BCHG) begins trading. Barry Silbert's open-ended trust gained Depository Trust Company eligibility this week and became Grayscale's fifth publicly traded product in the U.S. Crickets? - The trust's commencement of trading on OTC Markets will likely be the most beneficial uplisting of Bitcoin Cash this year.
- For context, Grayscale Ethereum Trust attracted $388m of new investment. Grayscale Bitcoin Trust attracted $2.5b of new investment.
- Bitcoin Cash (BCH) co-founder Roger Ver has not thanked Grayscale's Barry Silbert nor commented on the announcement.
- Instead, Ver promoted a newly listed new decentralized finance (DeFi) cryptocurrency, Strong (STRONG), saying today that it "changes the DeFi game."
- One user quickly commented on Strong's price, which traded as low as $120 on Tuesday, "LOL grab before its 200+ again now."
- BCH is a contentious fork of bitcoin (BTC). In November 2018, BCH miners forked BCH and formed Bitcoin Cash SV (BSV).
- The BCH community is threatening to fork again later this year.
OTC Markets 
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Researchers look deeper into the Binance-Coinbase rivalry. For background on their escalating feud, see Inside Cryptocurrency issues from August 12 and August 17. - Coinbase has 30 million customers and has raised over $550m in financing. Its valuation is $8b. Although privately held Binance does not report its valuation, the market capitalization of BNB alone is $3.3b, and Binance reports 11X the trading liquidity of Coinbase.
- U.S. investors are responsible for one-third of global spot bitcoin volume.
- In mid-2019, after U.S. investors had already purchased hundreds of millions of dollars of Binance Coin (BNB), Binance.com began limiting access to U.S. customers amid concerns of regulatory action. In September 2019, Binance launched Binance.Us, a spinoff intended to ease U.S. compliance concerns.
- Coinbase resigned from Washington DC's Blockchain Association one day after Binance.Us joined.
- On the cover of Forbes magazine, Binance was named Coinbase's "archrival" with Forbes staff pointing to Binance's claim that it processes cryptocurrency transactions "that annualizes to $1 trillion" versus Coinbase's $80b.
- Binance.Us has still failed to gain approval for its cryptocurrency exchange in New York, Connecticut, Vermont, Washington, Florida, Georgia, Hawaii, Alabama, Idaho, North Carolina, Texas, and Louisiana.
Brave New Coin
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 The Winklevoss twins' Gemini exchange has hired crypto security company Eventus. - Gemini's cryptocurrency exchange and custodial services will use Eventus' surveillance and anti-market manipulation tools.
- The Winklevoss billionaires have claimed that bitcoin's market capitalization will overtake up to half of the value of all mined gold; this month, they also claimed that asteroid mining poses a threat to gold's value.
- Other Eventus customers include Coinbase and ErisX.
Bloomberg
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Ditching cash reserves for bitcoin becomes a meme. Following the marketing playbook of MicroStrategy (NASDAQ:MSTR) which gained sudden notoriety (and an immediate 20% share price boost) for its $250m purchase of bitcoin, a small restaurant chain in Canada called Tahini's swapped an undisclosed amount of cash reserves for bitcoin and heralded its action in a series of social media posts and videos. The action earned dozens of articles, memes, as well as congratulatory tweets from Anthony Pompliano, Peter McCormack, and Jimmy Song. BeInCrypto
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Quick Hits: - Grayscale Litecoin Trust (OTCQX:LTCN) has gained DTC eligibility but is awaiting OTC Markets' uplisting from Pinksheets to QX Best Market. Trading will likely begin soon.
- Researchers dampen expectations on Central Bank Digital Currency (CBDC) issuance over the next five years, with few significant issuances expected besides China.
- Ethereum's 2.0 testnet, Medalla, experienced "a series of cascading failures," with community members pushing for another delay of ETH 2.0 into 2021.
- Ethereum Classic (ETC) Labs has proposed a multi-stage strategy to combat 51% attacks.
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Thanks to everyone who participated in yesterday's poll, Do You Trust Justin Sun? According to the responses, 61% of you do not trust Sun, 15% do trust him, and 24% were not familiar with the Tron (TRX) CEO prior to yesterday's issue. Stay tuned for our next poll, coming soon! | |  Aaron |  | | |
 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. | | | | Editor | Edited by Eduardo Garcia in New York. Eduardo is a graduate of the Columbia Journalism School M.A. Science program and writes regularly for the New York Times Climate Fwd: newsletter. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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