Household Names to Enter Crypto Over Next Two Years, Says LMAX CEO – May 25

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$8,763

Bitcoin price failed to hold the $9,000 mark over the weekend, falling 4% for the day and into the high $8,000s overnight.

Top-20 altcoins are down across the board, aside from Ethereum Classic which has risen just over 2%. Ethereum is down 2%, while XRP drops by 3%. Bitcoin SV saw the largest fall, down 4% over the last 24 hours.

Top Stories for May 25, 2020 🔥

👉 Household Names to Enter Crypto Over Next Two Years, Says LMAX CEO

David Mercer, CEO of currency and crypto platform LMAX, has stated in an interview with The Block that he expects household names to enter cryptocurrency markets over the next two years.

According to Mercer, inquiries into the crypto space from banks and funds have significantly increased from 2019, leading to volume increases on LMAX.

Mercer believes that investment banks will enter the market, in an effort to retain business from retail customers who want to diversify into cryptocurrencies.

👉 New Russian Law Proposal May Criminalize Cryptocurrency Use and Purchases

A law proposed in Russia by lawmakers seeks to prohibit both the use and purchase of cryptocurrencies including Bitcoin, threatening jail time and fines for either action.

Under the proposed law, individuals using Bitcoin for financial transactions may be jailed for up to seven years, or fined up to $7,000. Companies using cryptocurrency could also face fines of up to $28,000.

👉 Samsung to Integrate Crypto Streaming Service into S20 Phones

A press release has shown that Samsung has partnered with – a crypto-based streaming service – and will be integrating the app into all new Samsung S20 phones in the United States.

The app allows users to earn cryptocurrency tokens (TFUEL) for watching and sharing streams on the platform. About 75 million devices, including older models, are expected to receive the app via an update.