Crypto Flipsider News – July 26th – Amazon, Exchange News, Bitcoin, Reddit, NFT’s

daily crypto news
  • A New Job Posting By Amazon Hints At A Shift To Cryptocurrency 
  • Exchange News: Uniswap Delistings, Binance Ipo, Max Leverages Reduced On Ftx & Binance
  • Bitcoin Spikes To Over $39k
  • Reddit Is Going To Step-up The Game With Ethereum’s Layer-2 Solution
  • Nfts Of Nelson Mandela Novels To Be Sold On The Auction

A New Job Posting By Amazon Hints At A Shift To Cryptocurrency

Recently, Amazon jobs posted they are looking for a “Digital Currency and Blockchain Product Lead”. This raised eyebrows in the crypto world; perhaps this means Amazon is going to integrate cryptocurrency payments?

The job description states that the team is “seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap.” It continues, “you will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”

Amazon CEO Andy Jassy (then CEO of AWS)  has mentioned in the past that the company wasn’t that focused on blockchain technology, yet Amazon was “watching it carefully.” It looks like their stance may have changed…

Flipsider:

  • Currently, Amazon does not accept any form of cryptocurrency as a valid payment method. Even though this job posting may hint at something otherwise, the big question still stands: will Amazon manage to “dominate “outside of retail by owning the infrastructure? 

Exchange News: Uniswap Delistings, Binance Ipo, Max Leverages Reduced On Ftx & Binance

  • The largest decentralized exchange Uniswap initiated token and tokenized stocks delistings from its app. Uniswap says delisted tokens represent “a very small portion of overall volume on the Uniswap protocol”. The move comes as a preparation for the strengthening regulatory scrutiny.
  • Crypto exchanges FTX and Binance crypto lower maximum leverages to 20x. FTX previously allowed margin traders to use up to 100x leverage. “This is partially because we try to encourage responsible trading,” said FTX’s CEO Sam Bankman-Fried. Binance made the same move a week ago and reported the leverage cut today. Leverage trading allows using borrowed funds to increase the positions. 
  • Binance has plans to go public with an Initial Public Offering (IPO) , said its CEO Changpeng “CZ” Zhao. He also added that such plans are for the future and will not be implemented immediately. Binance is currently facing harsh regulatory pressure from multiple jurisdictions worldwide. 

Flipsider:

  • It seems as if crypto space has started to pay attention to regulators.  Less freedom, more safety. The Wild West crypto era will soon be a distinct memory. We can almost hear traders crying and singing “Why do all good things come to an end” in chorus with Nelly Furtado.

Bitcoin Spikes to Over $39K

Bitcoin almost tested $40k level on Monday after a 12% spike in less than 8 hours. The leading crypto has been climbing up since July 20th. The coin increased almost 30% since then and trades at around $38.5k at the time of writing.

The reasons for the recent price surge might be related to Amazon’s Bitcoin-friendly news, its possible integration with Twitter, and institutional money inflows. The market is also coming to terms with the idea of Chinese cryptocurrency crackdown.

Flipsider:

  • Cheers to Bitcoin holders but another theory of a current spike says it was simply an outcome of  a “short squeeze”, when short-sellers had no other way to exit their orders than by re-buying assets at any price possible. 

Reddit Is Going To Step-up The Game With Ethereum’s Layer-2 Solution

The social media platform is going to integrate Arbitrum, which will allow them to create their own layer-2 rollup. This will improve the community points system, one of the most recognizable features of Reddit.

Now, in the r/Cryptocurrency subreddit, it’s possible to earn Community Points in the form of Moon tokens. The integration of Arbitrum may help to allow faster and cheaper transactions for the platform’s tokens.

Flipsider:

  • Moon tokens are even not listed on CoinMarketCap, the biggest website for tracking capitalization, only on CoinGecko. This is not bad, but there is room for improvement.  

NFTs of Nelson Mandela Novels to Be Sold at Auction

Two novels, “I Dream of Kemet and Young” and “On the Run from Apartheid,” are being transformed into NFTs by one of politician’s grandsons. They will also receive unique 3D cover artwork and personal messages from Dumani, Mandela’s grandson. The NFTs will be auctioned on OpenSea, one of the biggest NFT marketplaces.

Nelson Mandela is a famous revolutionary, philanthropist, and statesman from South Africa who served as president from 1994 to 1999. He left a tremendous cultural heritage including his books.

Flipsider:

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