Bitcoin News Roundup for Aug. 26, 2020

With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup! This episode is sponsored by Crypto.com, Bitstamp and Nexo.io. Today's stories: Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good Thing Bitcoin’s latest price drop may have a silver lining. Crypto and Fintech VC Ribbit Capital Seeks $350M in 'Blank Check' IPO  While it's unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector. FTX Exchange's $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play  The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers. Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of Any Brazil's crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.