Crypto News Recap – Here’s How Bitcoin Gets to $50,000 – October 16 – October 23 2020

Crypto News Recap – Here’s How Bitcoin Gets to $50,000 – October 16 – October 23 2020

News Recap Synopsis and additional links found on the unchainedpodcast.com website:

Here’s How Bitcoin Gets to $50,000
Plus: the crypto companies turning away business

What may prove to be the crypto news of the year broke this week, with the long-rumored announcement by PayPal that support for buying, selling, hodling, and purchasing will soon make its way to the company’s customers. Filecoin continues forward with its long-awaited mainnet as several of its top miners object to the economic model.

Fed Chair Powell continues to ponder a digital dollar. We also have the state of crypto in 2020, according to Digital Currency Group. There’s news about how Bitcoin adoption benefits the ongoing protests in Nigeria, regulatory roundups, overwhelming requests for DeFi audits, and more.

On Unchained, two members of a DOJ strike force focused on cryptocurrency criminals describe how they prosecuted some of the biggest cases involving Al Qaeda, ISIS, Hamas, North Korea, the creators of the largest online child porn site and more. And on Unconfirmed, on-chain Bitcoin analyst Willy Woo describes the changes he’s seeing in the Bitcoin markets, and explains what it will take to get to a $50,000 Bitcoin.

This week’s top stories:

Crypto to Come to PayPal; Bitcoin Bounces
https://www.reuters.com/article/paypal-cryptocurrency-idUSKBN2761MI

Are Filecoin Miners on Strike?
https://www.theblockcrypto.com/post/81610/filecoin-miners-growth-economic-model

Fed Chair Powell Continues to Ponder a Digital Dollar
https://www.theblockcrypto.com/post/81652/fed-chair-powell-cbdc-improvement

Digital Currency Group’s State of Crypto 2020
https://www.dcgstateofcrypto.com

DeFi Audit Firms Are Overwhelmed With Requests
https://www.coindesk.com/defi-audit-firms-swamped

Protests in Nigeria Highlight Bitcoin Adoption
https://www.coindesk.com/nigeria-bitcoin-adoption
FUN BITS
How Paradigm 3xed Its Initial Round in 2 Years
https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/#4fb8fb84212d

A Timely Throwback to a Crypto World Without Paypal

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