What Happened Today in Crypto?

Bitcoin gets more attention the lower it values drops

While Bitcoin has made record lows for this year in previous several weeks, a recent study suggests that this drop has had an opposite effect on its mainstream media coverage. The study was conducted by a blockchain-based company called Clovr, which has reported that Bitcoin is more talked about after a price crash, than after surges.

While the mainstream media is clearly the one who increases the number of Bitcoin-related articles during such events, their consumers are also responsible for requesting them and reacting positively to them. In fact, researchers have deduced that consumer demand is the key factor for this trend. The question now is why is anti-Bitcoin stance rising?

Russian crypto bill sent back to the drawing board

A recent report from a Russian daily newspaper called Kommersant states that the country’s crypto legislation titled “On Digital Financial Asset” has been sent to the first reading stage. The draft bill is supposedly in need of significant changes, as it doesn’t seem to have relation to cryptocurrencies or tokens. In fact, it was noted that its wording is in direct conflict with previously established norms of the country’s corporations legislation.

The draft attempted to replace cryptocurrency-related terms with “digital rights”, “digital financial assets”, and alike. In addition, the entire definition of crypto mining was removed from it. Until the wording issue receives necessary attention, Russia’s attempts to regulate the space will remain fruitless.

Coinbase now allows free PayPal withdrawals

New reports claim that Coinbase now offers its users an option to withdraw various fiat currencies directly to their PayPal accounts, for free. This feature was introduced to the exchange quietly, and it works for several currencies, including the USD, GBP, and EUR. As mentioned, the withdrawal is currently fee-free.

Users remain confused regarding the secrecy of the introduction of this new feature, as Coinbase did not post any type of an official announcement regarding this on their website or social media accounts. For now, the option to withdraw funds to PayPal for free is currently only available in a few regions, including the US, Canada, the UK, and EU.

Vitalik Buterin gets an honorary doctorate from a Swiss University

Vitalik Buterin, a co-founder of Ethereum (ETH) who also served as a face for this project ever since its creation was granted an honorary doctorate by the Switzerland-based University of Basel. This is Switzerland’s oldest university, and it announced that Buterin should receive this doctorate due to “outstanding achievements in the fields of cryptocurrency, smart contracts, and the design of institutions.”

Buterin’s most important feat is the promotion of the idea of decentralization, and participation in the digital revolution, according to the University. He also harshly criticized centralized institutions, which made him increasingly popular among decentralization supporters.

OKEx exchange delists numerous trading pairs

New announcement that was published on the website of OKEx cryptocurrency exchange only hours ago states that the exchange will delist as many as 38 cryptocurrency trading pairs. The exchange explained that the choice to do so was made in regards to these assets’ low liquidity and trading volume.

Notable pairs that are to be delisted include Datum (DAT/BTC, DAT/ETH, DAT/USDT), Bread (BRD/ETH), LAToken (LA/ETH), and numerous others. This is not the first time this year that the big exchange announces delisting of trading pairs, and the same was done by Bittrex, Binance, Liqui, and others at various points throughout 2018.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Ali Raza is finance editor at TheOofy. He is a journalist with experience in web journalism and digital marketing. Ali holds a master degree in finance and enjoys writing about cybersecurity, cryptocurrencies, and technology.