Bitcoin News Roundup for Aug. 24, 2020

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ABOUT

With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup!

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today's stories:

Leveraged Funds Take Record Bearish Positions in Bitcoin Futures

The funds likely boosted short positions to take advantage of attractive "cash and carry" yields.

First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital Club

Venture capital is no longer just for the rich, as crypto markets let traders bet on early-stage digital-asset startups, risks included.

Istanbul or 'Coinstantinople'? Inside Turkey's Bitcoin Bull Market

The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end.

Crypto Derivatives Exchange BitMEX to Block Ontario Traders

The veteran cryptocurrency derivatives exchange is to block users in Ontario, apparently at the behest of the local securities regulator.

HOST

Adam B. Levine

Adam B. Levine joined CoinDesk in 2019 as the editor of its new audio and podcasts division. Previously, Adam founded the long-running Let's Talk Bitcoin! talk show with co-hosts Stephanie Murphy and Andreas M. Antonopoulos.

Finding early success with the show, Adam transformed the podcast's homepage into a full newsdesk and publishing platform, founding the LTB Network in January of 2014 to help broaden the conversation with new and different perspectives. In the Spring of that year, he would go on to launch the first and largest tokenized rewards program for creators and their audience. In what many have called an early influential version of "Steemit"; LTBCOIN, which was awarded to both content creators and members of the audience for participation was distributed until the LTBN was acquired by BTC, Inc. in January of 2017.

With the network launched and growing, in late 2014 Adam turned his attention to the practical challenges of administering the tokenized program and founded Tokenly, Inc. There, he led the development of early tokenized vending machines with Swapbot, tokenized identity solution Tokenpass, e-commerce with TokenMarkets.com and media with Token.fm. Adam owns some BTC, ETH and small positions in a number of other tokens.