Hi, I’m Nate Martin
 from 99Bitcoins.com, 
and here’s what’s happened
 this week in Bitcoin.
Data from Google Trends indicates
 that there’s a massive spike 
in the interest in cryptocurrency. 
In fact, “buy crypto” searches are at 
their highest level since the ICO boom. 
At the same time, 
the amount of BTC held
 in exchange accounts 
was at a 2 year low. 
This indicates many users 
are withdrawing coins 
to more secure personal wallets. 
Both of these events suggest 
a sign of bullish market expectations.
A new paper 
by Blockchain Research Lab 
provides further evidence
 for wash trading. 
Wash trades occur when a trader
 buys or sells to their own account, 
achieving no profit or loss
 but increasing reported volume. 
This benefits both the coins
 and exchanges 
by giving a false impression
 of activity. 
The researchers called on popular 
data metric sites 
to implement stricter reporting
 of trading volumes.
Former head of Uber’s security team 
is alleged to have paid 
$100,000 in Bitcoin 
to cover up a hack 
of the company’s database in 2016. 
Joseph Sullivan has been charged 
with obstruction of justice 
and misprision of a felony
 for failing to disclose the hack, 
which is said to have exposed the data
 of 57 million users including drivers.
Tahini’s, a Canadian restaurant chain, 
is converting the entirety
 of its cash reserves to Bitcoin. 
The company’s owner tweeted 
explaining that the pandemic
 and its monetary response 
revealed the traditional
 financial system as 
“a game of musical chairs.”
Before we conclude, 
this week’s “Bitcoin quick question” is 
can Bitcoin be transferred
 into your bank account?
In most countries, 
Bitcoin cannot be transferred, as is, 
to your bank account. 
That is usually due to regulatory
 and compliance measures 
that banks are dealing with, 
as they are the government’s agent 
when it comes to preventing 
money laundering, terror financing, 
or other criminal activities.
However, recently there have been 
great advancements, 
and the day you will be able to
 hold Bitcoin in your bank 
looks closer than ever.
Rules that have passed in Germany 
will allow local banks 
to custody cryptocurrencies, 
and it is safe to assume 
other European countries will follow.
In the United States, 
the regulator of the currency,
 also known as the OCC, 
has recently clarified U.S. Banks 
are also allowed to hold cryptocurrencies
 for their customers.
Therefore, it is a matter of time 
before the banks will step in as well. 
But remember the Bitcoin rule - 
not your private keys, not your Bitcoin!
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That’s what’s happened 
this week in Bitcoin. 
See you next week.
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