Bitcoin Madness, Zuckerberg in Congress, China's Blockchain Plans: Hodler's Digest, Oct 21-27

Chinese President Xi Jinping urges accelerated blockchain technology adoptionSo, more on those comments from Xi Jinping - comments that may have proven catnip for the crypto markets.

A long-standing aversion to cryptocurrencies remains in China, where ICOs and crypto exchanges have been banned, and mining could follow next.

Zuck of the Hill: After six-hour Libra grilling, Congress unconvincedMark Zuckerberg headed to Washington, D.C. this week - and it wasn't for a nice, relaxing visit to the Smithsonian.

The billionaire warned innovation is essential if America is going to remain a global financial leader, especially considering there's growing competition from China, where businesses "Certainly don't share our values." Although his appearance in front of the House Financial Services Committee was meant to allow politicians to ask questions about Facebook, some Congress members used their allotted five minutes to criticize Zuckerberg instead. Rep. Brad Sherman was especially dismissive - and said cryptocurrencies either displace the U.S. dollar or cause investors to lose a lot of money.

Revealed: How much wealth has been transferred using BitcoinNew data this week revealed that a whopping $11 trillion in wealth has been transferred by Bitcoin since its blockchain went live a decade ago.

For more info on crypto prices, make sure to read Cointelegraph's market analysis.

FUD of the WeekHead of Crypto Capital arrested in connection with money launderingThe president of the controversial Panama-based payments processor Crypto Capital has been arrested by authorities in Poland.

Following the arrest, Bitfinex described itself as a "Victim of a fraud" - and fiercely rejected allegations that its exchange had laundered funds at Crypto Capital's request as "Categorically false."

Silk Road prosecutor: 99.9% of fiat money laundering goes unprosecutedThe U.S. Justice Department official who prosecuted the infamous Silk Road case has warned that the fiat-dominated financial system is inept at tackling the very thing it purports to worry about when it comes to crypto.

Best Cointelegraph FeaturesPrivacy-focused cryptos hunted down by forensics and exchangesTwo of the largest crypto exchange markets in Asia are increasingly pressuring exchanges to delist privacy-focused crypto assets.