Square To Build New Platform For Decentralized Financial Services – July 16

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $31,238

Bitcoin price appears to be losing support, as price worryingly slides into the low $31,000s to begin Friday.

Top-20 altcoins have erased yesterday’s gains in most cases, as Ethereum falls 2%, Cardano drops 4% and Dogecoin tumbles 7%.

Top Stories for July 16, 2021 πŸ”₯

πŸ‘‰ Square To Build New Platform For Decentralized Financial Services

Square CEO Jack Dorsey has announced that the company will be building a new “open developer platform”, which will facilitate decentralized financial services.

The announcement was made by Dorsey via Twitter, highlighting that the platform would be open-source, with its main focus on Bitcoin.

πŸ‘‰ PBoC Publishes e-CNY Whitepaper, Confirms Smart Contract Capabilities

The People’s Bank of China (PBoC) has released a whitepaper for its e-CNY central bank digital currency (CBDC).

The paper explains the e-CNY’s features and progress, which also confirms that the currency will be smart-contract compatible. It also reveals that the project’s roots date all the way back to 2014.

πŸ‘‰ THORChhain Exploited, Losing Up To $7.6M In Crypto

THORChain, a popular cross-chain platform and exchange, has suffered an exploit resulting in the loss of $7.6 million in funds.

Aministrators in the project’s Telegram channel have indicated that the project has sufficient funds to cover the losses for its users, but has also offered a bounty to the hacker in exchange for returning the stolen coins.