Crypto news this week - 9 May

Team Luno
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2 minute read

Hold on tight and get ready for our RoundUp of the latest in the wild world of crypto from this past week.

Can we get some security up in here?

The latest storm to hit the crypto community dropped after news broke about a security breach on Binance’s exchange. Binance’s CEO, CZ, said only a single account was affected, leading to the loss of 7,000 Bitcoin valued at around $40 million. CZ claims no users will be affected by the breach, and that the lost funds will be recovered. No QuadrigaCX 2.0 here, folks.

Drop it like it’s gold

We’re loving Grayscale Investment’s new #DropGold campaign. Grayscale, one of the largest digital currency asset managers, has launched their new campaign aimed at challenging investors to reconsider their traditional beliefs around gold investing, and to embrace Bitcoin as a superior alternative. We wholeheartedly concur!

It’s not FUD, it’s FIDelity

In mass adoption news (fist-pump), according to a Bloomberg report, Fidelity, one of the world’s biggest investment firms, is set to begin Bitcoin trading tailor-made for institutional clients within a matter of weeks. This is good news for institutional investors who’ve been sitting on the sidelines waiting to enter the market.

Earn crypto while you drive

A crypto reward for your driving data? Britain’s biggest car manufacturer, Jaguar Land Rover, is testing software which aims too reward drivers in return for their data. ‘Smart wallet’ technology installed in the vehicles would allow drivers to earn cryptocurrency on the go. Credits can be earned for sharing information about traffic jams and potholes, and can be used to automatically pay for tolls, parking and electric charging.

Word on the Tweet

For the crypto-community, Twitter is the unfiltered, no-holds-barred platform of choice. So what’s happening? We scrolled through our feed and found the top trending crypto-related tweets.

Blockchain got the royal stamp of approval (kind of) from Prince Charles himself.

And scrolling from British royalty to tech mogul, Elon Musk played a little cat-and-mouse with Ethereum co-founder, Vitalik Buterin.

And then took it right back with a good old “jk”.

Across the pond to the US, founder and CEO of Digital Currency Group, Barry Silbert, called out Warren Buffet for his latest comments on crypto.

And that’s a wrap! What did you think of our new format? Let us know in the comments on YouTube or get in touch with us on Twitter. Dazzle your friends, family, and co-workers with your crypto knowledge by liking and subscribing to our YouTube channel. Make sure you never miss out again.

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @lunomoney.

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