Kiffmeister’s Fintech Daily Digest (05/15/2020)

Libra Association adds three new members, including Singapore investing giant Temasek
The Libra Association added 3 new members to its ranks; Singapore government-owned investment giant Temasek and U.S.-based venture capital firms Slow Ventures and Paradigm.

CoinMarketCap removes evidence of wash trading on Binance
CoinMarketCap has now introduced a default metric that puts new owner Binance on top of its trading volume league table. The site has removed a metric that previously indicating high levels of wash trading at Binance. On April 3, the day after Binance acquired CoinMarketCap, the exchange was ranked 15 on the site. The data provider listed Binance’s claimed exchange volume as $6.7 billion. But it put its adjusted volume, a metric designed to remove any suspicious activity, at $2.1 billion.

Forget BTC Price, It’s Now Possible to Trade Bitcoin Hash Rate Futures
Derivatives platform FTX launched a futures product which tracks Bitcoin’s hash rate. The contracts track the average difficulty of the Bitcoin network each day from the start to the end of each quarter. The difficulty is used because measuring hash rate accurately is impossible, but given that difficulty adjustments attempt to maintain 10m block times, over long periods of time the average hashrate will be proportional to the average difficulty.

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