#CryptoCorner: BTC Loses $11K Support as Trade War Cools, Samsung adds BTC Support, Barclays Ends Relationship with Coinbase and #Crypto Payments Startup Flexa Partners with CoinSquare to Come to Canada
Point Roberts, WA, Delta BC, August 14, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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August 14 Crypto Corner
Stocks discussed: (KSE:005930) (NYSE:BCS)
Bitcoin (BTC) took a bit of a tumble yesterday, dropping from a trading price of around $11,000 USD about this time yesterday, down roughly five percent to a present trading price of $10,500 USD, according to CoinMarketCap. If we zoom out, we see that this is part of an unsteady decline over the past week, which Bitcoin started with a trading price closer to $12,000. Some, like Euro Pacific Capital CEO Peter Schiff, argue that this drop in price is a result of the U.S. - China trade war cooling off as of late. Schiff tweeted:
Now that trade tension with China has eased, the pressure on the yuan is off. Those who bought Bitcoin to speculate on Chinese safe haven buying, which never happened, are taking their chips off the table.
According to an update on its Developers website, Samsung (KSE:005930) has added Bitcoin support to its Blockchain Keystore. The Keystore is currently supported on the Galaxy S10e, S10, S10+, S10 5G, Note10 and Note10+, in Canada, Germany, South Korea, Spain, Switzerland, the U.S. and the U.K.
CoinDesk reports that banking giant Barclays (NYSE:BCS) is no longer working with crypto exchange Coinbase. Formerly, Barclays connected Coinbase to the U.K. Faster Payments Scheme (FPS), which allowed users to instantly withdraw and deposit British pounds at the exchange. Coinbase has since moved on and is working with upstart ClearBank, which is “expected to restore Coinbase’s FPS access by the end of the third quarter”. A UK crypto company CEO, who chose to remain anonymous, told CoinDesk:
“It is my understanding that Barclays’ risk appetite has contracted a little – I’m not sure exactly why or what’s been driving that, maybe there has been some activity they are not happy with. But it’s about Barclays’ comfort level with crypto as a whole.”
U.S.-based crypto payments startup Flexa announced in a blog post yesterday, that it is partnering with Canadian crypto exchange CoinSquare. According to the post, this will bring:
…instant cryptocurrency payments online in 7,500+ merchant locations across Canada (including some of the nation’s largest retail, entertainment, and fuel brands) by the first week of September.
Sam Mowers, Investorideas
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