PRICE CHANGE: WTD/YTD

- BTC ($8,142): +9% / +13%
- ETH ($145): +4% / +11%
- LTC ($50): +14% / +20%
- XRP ($0.21): +9% / +11%
- Crypto Market Cap ($217B): +9% / +13%
- BTC Dominance: 68%

THIS WEEK IN CRYPTO

- Some traders expect the upcoming Bitcoin halvening will lead to a significant increase in BTC prices. The halvening refers to a 50% decrease in the Bitcoin rewards that go to miners supporting the network, in order to prevent inflation from eroding the purchasing power of the coins. In previous reductions the price of BTC rose about 8,000% in the year after the 2012 decrease and around 2,000% in the 18 months following the 2016 cut. Some traders argue that the price increase won't be as significant this time around, given that Bitcoin is much more mainstream and the market more mature. Link. 

- 10.7 million bitcoins haven't moved in more than 10 months; there are a total of 18.14 million bitcoins currently in circulation. 60 percent of coins remained dormant, the highest level since early 2017. Link. 

- Crypto exchange Kragen posted an infographic teasing its new 2019 Transparency Report, indicating it had received 710 information requests from law enforcement agencies (49% more than in 2018). 61% of the requests came from the US, specifically the FBI, DEA, and ICE. Kraken reported that 1,222 user accounts were affected by the requests. Kraken said the firm spent more than $1 million in 2019 dealing with these requests. Link. 

 - Crypto lender BlockFi added support for USDC and Litecoin across all of its offering. BlockFi users can now earn monthly interest on USDC and Litecoin holdings, or take out dollar-denominated loans against their crypto holdings. BlockFi is offering interest rates of 8.6% for USDC and 3.8% for LTC. BlockFi raised $18.3 million in Series A funding last summer. Link. 

- Coinbase Pro, a trading platform for professional investors, is now available for Android users. Link. 

- Only 12% of America's top 100 charities of 2019 accept bitcoin donations, and over 58% of those payments are processed by crypto-payment processor BitPay. Link. 

- Brooklyn Nets player Spencer Dinwiddie is launching a tokenized investment vehicle this week with security token platform called Securitize, despite threats from the NBA to ban him from the professional basketball league. Dinwiddie wants to sell Professional Athlete Tokens, which will allow him to collect up to $13.5 million off of his $34 million guaranteed three year contract. Token holders would then receive monthly payments over the next three years with a 5% base interest rate. The NBA claims the tokenization platform would constitute a breach of the players' collective-bargaining agreement. Link. Link. 

- The People's Bank of China has said that the "top-level" design of its digital currency has been completed. The next steps are to ensure stability, security, and control. The launch date remains unknown but the first cities to pilot the digital currency will be Shenzhen and Suzhou. Link. 

- Ripple and Thailand's oldest bank, Siam Commercial Bank, are working on enabling cross-border payments via QR codes. The QR system will enable SCB customers to access remittance and micro-payment services. Link.

- The SEC's Office of Compliance outlined its digital currency strategy for 2020 which included assessing things such as: 1) investment suitability; 2) portfolio management and trading practices; 3) safety of client funds and assets; 4) pricing and valuation; 4) effectiveness of compliance programs; and 6) supervision of employee outside business activities. The agency emphasized how digital assets continue to present risks to retail investors, who do not necessarily understand how these assets differ from traditional ones. Link. 

- Crypto exchange Cobinhood announced it was shutting down; it plans to re-open in February though its unclear if the platform will be reopened for trading or just for retrieval of funds. The company has been quiet over the last 8 months, with rumors circulating it may have gone bankrupt or run off with users' funds in an 'exit scam'. Cobinhood rose to notoriety in 2017 when Jamie Foxx promoted its $10 million ICO. Link. 

- New York Governor Andrew Cuomo wants cryptocurrency entities licensed under the New York's Financial Services Law to pay the costs of their regulatory oversight. Other financial services companies are required to pay assessments to the NYDFS (New York State Department of Financial Services) so Governor Cuomo believes crypto companies should pay assessments as well, given they are subject to similar examination and oversight requirements. Link.