Facebook Libra’s congressional hearings, Trump’s Bitcoin tweet and Bitcoin stays above 10.000 USD
Here’s your overview of today’s important, interesting and market moving crypto news.
Facebook’s Libra congressional hearing
Today and tomorrow Facebook will be defending it’s Libra project in congressional hearings. The U.S. Senate Banking and House Financial Services committee called for the congressional hearings shortly after Facebook revealed Libra’s Whitepaper and supporting documentation late June.
The Senate hearing will take place on Tuesday, the House panel hearing will be held on Wednesday. David Marcus, Facebook’s blockchain lead will testify at both.
The hearings are likely to cover subjects such as Facebook gathering financial data from it’s users, maintaining user privacy and the threat Libra poses for fiat currencies.
The hearings can be followed via livestream on the Senate Banking Committee’s website.
Trump’s Bitcoin tweet
Last week the President of the United States wrote his first tweet about Bitcoin:
Although not very positive, the fact that POTUS tweeted about Bitcoin is received as something very positive by the cryptocurrency community.
The tweet marks a symbolic milestone in the gradual but ever-expanding presence that cryptocurrency occupies in discussions around money and policy.
The tweet came shortly after the Federal Reserve Chairman Jerome Powell described Bitcoin as an ‘alternative for gold, a store of value’
This all happened in the context of Facebook’s Libra project. Such a powerful and company launching a cryptocurrency project is apparently forcing people, corporate- and government leaders to think and talk about cryptocurrencies.
Bitcoin stays above 10.000 USD
Throughout the commotion of Facebook’s Libra and government leaders commenting on cryptocurrency, Bitcoin has defended the 10.000 USD mark so far.
Bitcoin’s price dipped below 10.000 USD for a short period of time on July the 15th, but has since recovered to around 10.700 USD
Get to know our team
Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.
