US Regulator Proposes End to Crypto Banking Discrimination – November 23

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $18,670

Bitcoin price dipped a couple of times over the weekend, however has once again recovered to recent highs to begin the week.

Top-20 altcoins have performed very well over the last 24 hours, as Ethereum gains 9% and XRP rises 3%. Cardano and Tezos stand out with gains of 14% and 12%, respectively.

Top Stories for November 23, 2020 πŸ”₯

πŸ‘‰ US Regulator Proposes End to Crypto Banking Discrimination

The U.S. Office of the Comptroller of the Currency is seeking to end banking discrimination against “disfavored” legal industries, including crypto.

The new rule would only allow banks to deny services to customers on the basis of quantitative risk-based standards, but not political pressures.

Cryptocurrency companies have had trouble with banking for a long time, relying on a handful of crypto-friendly banks for services.

πŸ‘‰ DeFi Hack of the Day: Pickle Finance Loses $20M in Exploit

Another day, another decentralized finance (DeFi) hack. This time Pickle Finance, a farming project has fallen victim to a complex exploit which resulted in the loss of $20 million in user funds.

The hack was the first in a while to not utilize a flash-loan to fund the exploit, rather using a copy-cat contract to swap out stablecoins stored in the protocol.

The protocol’s governance token, PICKLE, fell in value by 50% following the attack.

πŸ‘‰ OKEx Tests Withdrawals, Which May be Re-Enabled on Friday

Cryptocurrency exchange OKEx has confirmed withdrawals are working after a test transaction today, more than a month after suspending the function.

The withdrawal suspension was made after OKEx lost contact with one of the private key holders of exchange funds, which coincided with the police detention of founder Star Xu.

If all goes to plan, OKEx will re-enable withdrawals on November 27, which was the exchange’s original announcement.