World Bank Declines To Assist El Salvador In Bitcoin Transition – June 17

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $39,403

Bitcoin price is back in the $39,000s as price continues to hover below resistance around the $40,000 mark today.

Top-20 altcoins are looking flat, as Ethereum falls 3%, XRP drops less than 1% and THETA is the best of very few gainers with a 6% rise.

Top Stories for June 17, 2021 πŸ”₯

πŸ‘‰ World Bank Declines To Assist El Salvador In Bitcoin Transition

The World Bank has declined to assist El Salvador in their nation-wide implementation of Bitcoin as legal tender, citing “environmental and transparency shortcomings”.

Alejandro Zelaya, the Salvadoran Finance Minister, had announced the country’s request for assistance publicly earlier this week.

The refusal has sparked plenty of criticism with the wider cryptocurrency community, despite the World Bank saying it may help the country with other things, including currency transparency and regulation.

πŸ‘‰ BitDAO Raises $230M With Backing From Peter Thiel & Alan Howard

BitDAO, a new decentralized autonomous organization (DAO), has raised $230 million in funding including backing from notable names such as Peter Thiel and Alan Howard.

The DAO aims to promote the growth of decentralized finance (DeFi) through grants and liquidity provision, as well as setting up centers for research and development.

πŸ‘‰ Iron Finance’s TITAN Token Panic-Sells To Near Zero

TITAN, a token representing shares in a former billion-dollar DeFi project named Iron Finance, has tumbled to almost zero following a panic-selling frenzy.

The project was attempting to launch an under-collateralized stablecoin, IRON, but soon saw the project flip upside-down as its tokenomics backfired. The TITAN token dropped by more than 99% from $65 to just $0.000000035.