With new data from the Federal Reserve suggesting that the cryptocurrency might not be the answer to dire economic times, Markets Daily is back with your latest Bitcoin news roundup!

This episode is sponsored by Bitstamp and Ciphertrace.

Today’s stories:

A Key Thesis for Bitcoin’s Long-Term Bull Market Just Got a Knock

The narrative that inflation arising from the massive coronavirus stimulus efforts would lead to a long-term rise in bitcoin’s price is looking weak with new data from the Federal Reserve.

Telegram Agrees to Pay $18.5M Penalty in SEC Settlement Over Failed TON Offering

Telegram has settled its six-month court case with the SEC, agreeing to pay $18.5 million in penalties and to notify the agency if it plans to issue another digital asset in the next three years.

FC Barcelona’s Token Sale Hit $1.3M Cap in Under 2 Hours

The tokens will be earned by Barcelona fans who participate in club decisions, such as deciding on a new mural for the first team changing room.

Consumer Watchdog Moves to Block Canadian Bitcoin Miner From US Power Grid

Public Citizen warned the U.S. Dept. of Energy that DMG Blockchain’s bid to export electricity could set a dangerous precedent.