Fed Chair Says Digital Currency May Improve US Payment System – October 20

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $11,794

Bitcoin price rallied almost 3% today, briefly breaching the $11,900 in a strong move to the upside.

Top-20 altcoins have taken a back seat to Bitcoin’s price action, lagging behind as Ethereum falls 2%, XRP drops 1%, and Tezos takes an 8% hit.

Top Stories for October 20, 2020 πŸ”₯

πŸ‘‰ Fed Chair Says Digital Currency May Improve US Payment System

Federal Reserve chair Jerome Powell has acknowledged that a central bank digital currency may improve payment systems in the United States.

Powell claims that such a currency could speed up transaction times and lower costs, as well as modernize payment infrastructure.

He also, however, clarified that the Fed has not yet decided whether or not it will issue a central bank digital currency.

πŸ‘‰ Ethereum 2.0 Developer Claims Deposit Contract Will Launch This Week

Ethereum developer Ben Edgington has stated in an article that he believes an Ethereum 2.0 deposit contract will go live this week, allowing ETH to be sent from the 1.0 chain.

Edgington also expects the beacon chain genesis for ETH 2.0 to occur within the next 6-8 weeks, which will require 500,000 ETH to be staked for the completion of “phase 0” of the launch.

πŸ‘‰ Binance Jersey to Shut Down After Two Years

Binance has announced that they will be closing down their Jersey arm after almost two years of operation, with trading to cease on November 9th.

Binance Jersey was launched in January 2019 to provide fiat trading of cryptocurrencies in Pounds and Euros. Binance’s global exchange now offers GBP and Euro deposits, which they say removes the need for the Jersey exchange.