Daily News Headlines | Latest Crypto News (20th May) | Cryptoknowmics

Here are the top 5 crypto news for the day! 

Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we know it, in the coming days.

Elon Musk Tweets “Diamond Hands” Amid Crypto Crash, Won’t Sell $1.5B Stake

 In a tweet shared on Wednesday, Elon Musk said that Tesla had diamond hands that implied that the electric vehicle manufacturer would not sell their $1.5 billion stakes in Bitcoin. The Tesla CEO is not shying away from the leading cryptocurrency despite the broad sell-off of the cryptocurrency, eventually cutting the value of Bitcoin in half at one point. 

Ripple Connects With Dubai’s Lulu Exchange And Egypt’s National Bank

 Ripple is expanding its presence in the MENA region after deciding to connect with Egypt’s national bank and Dubai’s Lulu Exchange as announced on Wednesday. Ripple had announced a partnership with Abu Dhabi-based Lulu Financial Holdings last January. 

Cashaa Launches Initiative to Fight India’s COVID-19 Crisis 

Crypto banking platform Cashaa is launching an initiative to provide food supplies to those most affected by the COVID-19 pandemic in India. As a part of the global ‘crypto for COVID’ campaign, the team behind Cashaa is providing curated ration kits that can feed a family of 4 for up to 2 weeks. 
 

JPMorgan Says Gold May Soon Replace Bitcoin as Crypto Plunges 

Experts from JPMorgan believe that institutional investors might replace Bitcoin with gold since the price of BTC plunged. In accordance with the data provided by leading market analysts, over 755K crypto traders have elucidated over the past 24 hours.

Bitcoin Whale Withdraws 15,909 BTC from Bitfinex 

An anonymous Bitcoin whale moved out 15,909 Bitcoin worth $638 Million from the Bitfinex cryptocurrency exchange. Apparently, only one-tenth of the flagship cryptocurrency went to a Bitfinex hot wallet while the rest was transferred to an unknown crypto wallet.