Justin Sun Wins Dinner With Warren Buffet, Bitcoin Slips Below $8,000 And Stablecoins Are Hot Right Now — The Crypto2Cash Chronicle
Your daily dose of crypto and blockchain news, summarized by the Crypto2Cash team
Justin Sun Wins Dinner With Warren Buffet
Justin Sun, founder of Tron and CEO of Bittorent, has spent a whopping $4.5 million for a Dinner with Warren Buffet. Star investor Buffet has long been a skeptic of the crypto industry, but has recently admitted, that Blockchain technology could become more influential in the future. Sun will be taking 7 other crypto “industry leaders” to the dinner, who will be discussing the technology with Buffet. The money Sun spent will be donated to the Glide Foundation, which supports homeless people in California.
Bitcoin Slips Below $8,000
The largest cryptocurrency in total market capitalization did not manage to hold the high levels of the last weeks and lost over $700 in just two hours over night. Bitcoin is currently trading at $7,936 down 7,20% in the last 24 hours. Most Alt-coins quickly followed this price movement and are down similarly. Bitcoin SV is the only coin in the positive, up 4.28% and slowly climbing up the ladder of the largest cryptocurrencies, currently placing eight.
Stablecoins Are Hot Right Now
Binance has recently announced the first Stablecoin for their native Binance Chain. They teamed up with venture capital backed Start-up Stably to issue the StableUSD token. In total 90 Billion tokens will be issued and they will all be backed 1:1 by fiat reserves.
Tether also announced they will be bringing their token to the Lightning network. Although there were no further details on the collaboration, it can be expected, that this will bring more liquidity to the network, with currently “only” $1.1 million in Bitcoin circulating.
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