IMF Releases Cryptocurrency Explainer, Receives Criticism – August 24

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,786

Bitcoin price has both dipped and recovered over the weekend, briefly breaking $11,400 support before rallying back to around the $11,800 mark.

Top-20 altcoins have performed excellently over the last 24 hours, coming back from a weekend dip of their own. Ethereum is up almost 5% for the day, while XRP is up 3%. The biggest gainer is Tezos, with a rise of almost 9%.

Top Stories for August 24, 2020 πŸ”₯

πŸ‘‰ IMF Releases Cryptocurrency Explainer, Receives Criticism

The International Monetary Fund (IMF) released a cryptocurrency explainer video on Twitter, only to be met with criticism from Crypto-Twitter.

The video was designed to break down the concept of cryptocurrencies, however Twitter users were quick to point out the shortcomings of the video.

So far, the video has been viewed more than 137,000 times, and appears to be a big nod from the IMF to cryptocurrency technology in general.

πŸ‘‰ Curve Founder Now Controls 71% of the Platform’s Governance

Curve founder Michael Egorov has amassed 71% of the platform’s governance power, in an apparent attempt to counteract yEarn’s >50% voting power.

Egorov locked up more of his tokens in an attempt to balance out voting power, but over-reacted and overshot the mark.

Less than 7% of CRV’s total circulating supply is currently being locked for voting – a figure that the Curve team is now urgently attempting to improve.

πŸ‘‰ Rumors Circulate Regarding Property Purchase with China’s CBDC

Reports have arisen stating that a property sale had been completed using China’s central bank digital currency, in the city of Shenzhen.

A central bank employee’s response did not completely refute the claim, however stated that trials of the currency were only being focused on smaller transactions – not yet addressing large transactions.