Week in review: July 16, 2021 – Fidelity to expand staff by 70% for crypto

Written by Robby Ramos
on July 19, 2021

Fidelity Digital Assets is planning to increase its headcount by about 70 percent as demand for cryptocurrency services from institutional investors remains strong. PayPal will be increasing its weekly crypto buying limit to $100k. Is Bitcoin decentralized gold? Read our weekly round up below.

Fidelity Digital To Expand Staff By 70 Percent On Strong Crypto Demand

Boston Globe: July 12, 2021

The unit of Boston-based asset manager Fidelity Investments Inc. plans to add about 100 workers in technology and operations in Dublin, Boston and Salt Lake City, Tom Jessop, president of Fidelity Digital Assets, said in an interview. The employees will help the business develop new products and expand into cryptocurrencies besides Bitcoin, he said.

PayPal Increases Weekly CryptoCurrency Purchase Limit Fivefold To $100,000

CNBC: July 15, 2021

PayPal is upping the amount of cryptocurrency users can purchase by five times. PayPal’s users can now buy $100,000 worth of bitcoin and other digital assets per week, up from a previous limit of $20,000. The company is also scrapping its annual purchase limit of $50,000.

On-Chain Analyst Willy Woo: ‘Bitcoin Is Decentralised Gold’

Crypto Globe: July 15, 2021

On Thursday (July 15), prominent on-chain analyst Willy Woo made some comments that suggested he believes that those people who try to praise Bitcoin by calling it “digital gold” are doing the flagship cryptocurrency a disservice.

S&P Dow Jones Launches Five New Crypto Indices

Decrypt: July 13, 2021

Data provider S&P Dow Jones Indices has added five new indices to its existing roster of crypto market benchmarks for tracking the health of the crypto market., per a press release.

‘Bond King’ Jeffrey Gundlach Sees Bitcoin Tumbling To $23,000 – But Says This Could Be a Chance To Buy The Dip

Business Insider: July 16, 2021

Billionaire investor Jeffrey Gundlach has said the bitcoin chart currently looks “pretty scary” and that the cryptocurrency could well fall to $23,000 – roughly where it stood in the middle of December 2020.

The Regulation Race: Why Singapore and Switzerland Are Competing To Give Crypto a Home

Decrypt: July 9, 2021

States across the globe have been trying to woo crypto companies into setting up shop in their territories. Here are the top contenders. Over the years, regulators have approached the crypto market with a mixture of hostility, bemusement, and confusion.

New York Giants’ Saquon Barkley Plans to Convert Endorsement Revenue to Bitcoin

Bitcoin.com: July 15, 2021

Another pro athlete in the National Football League (NFL) is planning to convert some of his earnings into bitcoin. The 24-year-old running back for the New York Giants, Saquon Barkley, discussed converting his endorsement revenue into bitcoin during a recent interview with the Morgan Creek Digital co-founder Anthony Pompliano.

Mark Cuban: This Is The First Thing You Should Do Before Investing In Altcoins

CNBC: July 14, 2021

Interest in altcoins, or alternative digital coins, like dogecoin, surged this year. And among the investors at the forefront is billionaire Mark Cuban, who has built a portfolio of different digital coins and blockchain companies. His cryptocurrency holdings consist of 60% bitcoin, 30% ether and 10% other altcoins, he disclosed in April.

Robby Ramos

Robby Ramos

Director of Digital Marketing | Bridging the gap between digital assets and financial institutions.