Bitcoin News Roundup for Jan. 11, 2021

With the price of BTC down by more than $8K and an opportunity to trade your crypto for a NYC bar (or two), CoinDesk’s Market’s Daily is back with the latest crypto news roundup.

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ABOUT

With the price of BTC down by more than $8K and an opportunity to trade your crypto for a New York City bar (or two), CoinDesk’s Market’s Daily is back with the latest crypto news roundup.

Add Markets Daily to your Alexa Flash Briefing here.

This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.

Today's stories:

Bitcoin Plummets as Miners Sell Inventory, Spot Markets Panic

Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend.

Long-Desired Bitcoin ETF Could Actually Hurt Price in Short Term: JPMorgan

An ETF could draw institutional money from the Grayscale Bitcoin Trust, a support for the price of the cryptocurrency, the report said.

Crypto Long & Short: Traditional and Crypto Markets are Starting to Converge

The latest OCC statement, which opens the door for banks to use blockchains to validate payments, hints at more than just better services.

Two NYC Bars Could Be Yours for Only 25 Bitcoin or 800 Ether: Report

The bar owner says he's hoping "to catch one of these crypto dudes who always wanted to own a bar."

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.