Bitcoin passes $7k, and the US senate applies pressure on facebook about their own crypto project, let’s start the show! Welcome back to crypto global news, thanks to tuning into today’s show – I am Edward, we would really appreciate it if you like, share and subscribe, enjoy today’s episode. The Ethereum Foundation is planning to spend $30 million on different projects across the ecosystem over the next 12 months. In the course of the next year, the Foundation is going to allocate funds for improvement of Ethereum’s performance and security, which includes working on the current proof-of-work (PoW) algorithm of Ethereum and general core support and development, raising awareness about the altcoin by organizing hackathons, developing relations, and attracting new talent, among other issues. The CEO of crypto analytics firm Messari Ryan Selkis forecasted that the Ethereum 2.0 proof-of-stake (PoS) transition will not take place until 2021. Selkis forecasted that the PoW algorithm will be the status quo for “at least two or three years,” while the Ethereum PoS transition will “take a lot longer than anybody appreciates.” Let’s see how this story unfolds. The Committee on Banking, Housing, and Urban Affairs of the United States Senate is seeking information on Facebook’s reported cryptocurrency project. The committee addressed its concerns to Facebook founder and CEO Mark Zuckerberg in a letter. In a series of questions, the Senate highlights certain aspects of consumer protection, asking Zuckerberg how the company plans to protect consumer financial information. The committee also asks Zuckerberg whether Facebook shares or sells consumer information with unaffiliated third parties. With facebook having many issues with the US legislative brand and also the public when it comes to customer privacy, will there be roadblocks when it comes to this cryptocurrency project? William Shatner the actor who has over 242 acting credits to his name – is moving into the world of cryptocurrency. announced he’s partnering with Mattereum to launch an Ethereum-based system that authenticates and digitally transfers ownership of physical items including collectibles. He said: “Today I am announcing that I am partnering with Mattereum and other technology creators to establish an authentication system, it establishes an irrefutable, internationally recognized proof of authenticity.” I suppose that it is only fitting that the original captain kirk is on the edge of technology in the blockchain space. Crypto securities company Curv has partnered with insurance company Munich Re to obtain $50 million in coverage. This new insurance is designed to cover any cases in which a bad actor was able to gain access to either Curv or the customer’s shares, both of which would be needed in order to sign off on an illicit transaction. As is stated in the press release: “Even in an extreme scenario where both networks’ shares were somehow simultaneously compromised and a transaction were initiated outside of the corporate policy, Curv’s insurance would kick in to cover the loss*.” With any and all commodities there is a fear that you can lose your property, let’s see if moves like this by cold wallet providers makes a huge difference in attracting customers. Bitcoin! Is in less than a week has gone from $6K to well over $7K. Now that almost everyone sees the return of the bull run, many predictions from industry insiders are coming forward – billionaire venture capitalist Tim Draper said in a recent interview with Fox Business that in four years, something like that, bitcoin will be about a 5% market share of the earth. He pointed to bitcoin’s best features such as decentralization, transparency, and simply being a better currency than fiat. Draper was an early bitcoin investor, having purchased 30,000 BTC when the price was hovering at $632 per coin. He points out that the investment is worth 10x that amount today, and he’s got no doubt that it’s going much higher. Obviously no one really knows where the price of any commodity, whether it be bitcoin, gold, or a share of stock in IBM will actually go, but if bitcoin does say pass the $19,800 mark it hit in 2018 – how will this affect all markets moving forward? Many thanks for tuning into today’s episode, please make sure you like share and subscribe, For crypto global news I’m Edward, until next time you take it easy.