Goldman Sachs Names New Global Head of Digital Assets – August 7

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price: $11,708

Bitcoin price has traded almost flat today, tapping the $11,900 mark twice before returning to yesterday’s price levels.

Top-20 altcoins have performed well over the last 24 hours, with XRP gaining almost 2% and Bitcoin Cash rallying 7%, while Ethereum fell 1%.

Top Stories for August 7, 2020 🔥

👉 Goldman Sachs Names New Global Head of Digital Assets

Goldman Sachs has named a new global head of digital assets, in a move demonstrating the financial giant’s new focus on blockchain.

The position has been appointed to Mathew McDermot, a managing director who believes in a future where all financial assets exist on electronic ledgers.

It has also been revealed that Goldman Sachs are exploring the creation of their very own fiat digital currency token.

👉 $100M Status Network ICO Team Disappear as Lawsuit Arises

The team behind Status Network, who received $100 million in ICO funding in 2017 have dropped off the radar, as investors attempt to file a lawsuit against the founders.

The lawsuit alleges that investors were misled into thinking that the SNT token was a utility network token, which was exempt from US securities laws.

Investors are seeking reimbursement of their investments, in addition to damages.

👉 Bitcoin Dominance at 12-Month Low, Despite Recent Rally

Bitcoin dominance, a measure of Bitcoin’s “market share” in cryptocurrency, has hit 12-month lows of 61%, despite its recent bullish rally.

The local high of the metric sat at almost 70% in September last year, and measured as high as 67% in May 2020.

Total altcoin market cap appears to be close to breaking above $370 billion, for the first time since May 2018.