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Crypto Corner Episode 471: Bitcoin Grazes $14K Over Weekend, Hut 8 (TSX: HUT) Appoints New CEO, Paxful Launches Crypto Visa Debit Card for U.S


Point Roberts, WA and Delta, BC - November 2, 2020 ( Newswire), a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.

Listen to today's Crypto Corner Podcast:

Crypto Corner Episode 471: Bitcoin Grazes $14K Over Weekend, Hut 8 (TSX: HUT) Appoints New CEO, Paxful Launches Crypto Visa Debit Card for U.S


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Stocks discussed: (TSX:HUT)

Over the weekend Bitcoin (BTC) fluctuated from briefly grazing a trading price of $14,000 on Saturday, October 31, to more or less just bubbling beneath it for the rest of that day and Sunday, according to data from CoinMarketCap. Despite failing to secure support at $14,000, Bitcoin is still up from last Monday, a week ago, when it came out of the weekend trading for around $13,200. At press time, it is trading for about $13,450.

Hut 8 Mining Corp. (TSX:HUT) has appointed Jaime Leverton as its CEO, replacing its current Interim CEO, Jimmy Vaiopoulos, who will return to his former role of Chief Financial Officer on December 1, 2020. Leverton, who boasts "more than 20 years of leadership in the Canadian technology industry," according to the press release, commented:

"It's a privilege to join an organization on the leading edge of an industry that is building the new foundation for technological evolution. As a believer in the importance of Bitcoin in this evolution, I'm honoured to join the team as we further solidify Hut 8's place as a market leader and true technology innovator in this space."

Additionally, Hut 8 plans to release its third quarter 2020 financial results pre-market open on Thursday November 12, 2020.

The Block reports that peer-to-peer cryptocurrency marketplace Paxful has launched a crypto Visa debit card for U.S. customers. The card is the result of a collaboration with fintech startup Ternio, with the aim of giving the unbanked or underbanked access to traditional financial services. The card works by converting crypto to U.S. dollars, enabling users to make purchases or engage in banking services like opening a chequing account and making withdrawals. Paxful CEO Ray Youssef said:

"Whether looking to invest in education, start a business, or simply manage the financial demands of everyday life, there should be a viable option for everyone across the globe."

The Cayman Islands on Saturday announced that it was developing a regulatory framework for virtual asset service providers (VASPs). The first phase of this project, which would have began on October 31, is focussing "on anti-money laundering (AML) and countering the financing of terrorism (CFT) compliance, supervision and enforcement." The second phase will handle licensing requirements and prudential supervision, and is expected to begin in June 2021. The government's Ministry of Financial Services believes that in taking this project on, the Cayman Islands' "ability to regulate and attract persons and entities that deal with virtual assets as a business is now strengthened."

Sam Mowers, Investorideas

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