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Crypto SWOT: NFL wide receiver Odell Beckham Jr. takes new salary in bitcoin

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  • Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Solar Energy, rising 5,751.35%.

  • An American multinational investment bank, Citi Group, has been on a hiring spree over the past week as the bank continues to build its digital asset department. Citi has hired over 100 crypto professionals for its digital asset department headed by Puneet Singhvi, who was previously the head of blockchain and digital assets in Citi's trading business.

  • In new filings with the SEC, banking giant Morgan Stanley has revealed some of its funds added Bitcoin exposure in the third quarter, writes Bitcoin Magazine. For the period ending September 30, Morgan Stanley's Growth Portfolio Fund added 1.5 million shares of the Grayscale Bitcoin Trust Fund.


  • Of the cryptocurrencies tracked by CoinMarketCap, the worst performing for the week was Fast Swap, down 99.25%.

  • Elon Musk had some choice words for cryptocurrency exchange Binance on Twitter this past Tuesday. Musk tweeted that "Doge holders using Binance should be protected from errors that are not their fault." This statement comes after an upgrade of the Dogecoin network appeared to have caused an issue with network withdrawals for users on the platform.

  • Many speculative stocks had a rough day on Monday, as did Bitcoin and other cryptocurrencies, reports Bloomberg. The 100-day correlation coefficient of Bitcoin and the S&P 500 stands at 0.33, among the highest reading of the year. That means that when stocks move up, Bitcoin is likely to do the same, and vice versa, the article continues.


  • NFL wide receiver Odell Beckham Jr. will take his new salary entirely in Bitcoin through a partnership with Cash App, he announced on Twitter this week. Beckham Jr. recently left the Cleveland Browns for the L.A. Rams, reports Bitcoin Magazine.

  • A huge arbitrage opportunity just opened in the crypto community. After news that India's government will regulate cryptocurrencies, Bitcoin was down 14% on WazirX, (India's most trusted cryptocurrency exchange).

  • Lancium Technologies, a Houston-based tech company, said it has raised $150 million to build a series of Bitcoin mines across Texas that will run on green energy. The company said its clean campuses will host Bitcoin mining, high throughput computing, and other clean energy-intensive applications, writes TheStreet.


  • Hackers, for the most part, usually target institutional crypto investors and exchanges. But as the adoption of cryptocurrencies has become more mainstream, some have started targeting small retail investors, writes Bitconist. They do so through SIM swaps or switching phone numbers from one device to another. This gains them access to random retail investors' crypto accounts on trading platforms, in which these hackers then proceed in emptying.

  • The U.S. is pursuing a British man over allegations he helped hijack an American citizen's identity to steal $8.5 million in crypto assets. Corey De Rose is facing extradition to the U.S. and is part of a team of hackers called "The Community," which the U.S. identifies as the group responsible for stealing over $50 million in cryptocurrencies between 2017 and 2018, writes Bloomberg.

  • Vitalik Buterin, the creator of Ethereum, had some strong words on Friday about the adoption of Bitcoin as legal tender in El Salvador, explaining why he thinks it's a reprehensible endeavor, writes "Bitcoin has sprung as an idea not only to get free of government currencies, but to advance freedom in general when it comes to choosing money. Forcing people to accept Bitcoin (BTC) as a means of payment definitely speaks against that ethos," he stated.
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