Each Sunday, we breakdown the most important news from the past week for SludgeFeed Premium members with key takeaways you might’ve missed.

Top Headlines This Week:

JPMorgan’s Ethereum-Based Stablecoin ‘JPM Coin’ Fails to Inspire the Market

The cryptocurrency market may have reached peak bear status after it failed to budge an inch on news that J.P. Morgan Chase (JPM) has created its own stablecoin built on Ethereum (ETH).

According to the report by CNBC, the new digital token, called “JPM Coin,” has been built as a means to instantly settle payments between clients, representing the USD they have on deposit with the bank.

NEO (NEO) to Launch Seattle Office Led by Former Microsoft Executive

NEO Global Development (NGD) is planning a major U.S. expansion with the launch of a regional office in Seattle headed by John deVadoss, a former Microsoft (MSFT) executive.

According to a post in NEO News Today, the new NDG facility is representative of NEO’s efforts to establish working relationships with major companies, especially Microsoft. The new office will reportedly open sometime this month.

Cory Johnson’s Chief Market Strategist Position Scrapped by Ripple

Some behind-the-scenes restructuring has taken place at Ripple (XRP), as chief market strategist Cory Johnson is no longer with the company.

A Ripple spokesperson told CoinDesk, “Cory’s last year at Ripple was a success in representing the company to investors, press and regulators. Cory helped Ripple with strategy internally and overall industry education. But due to changes in market conditions, we’ve chosen to eliminate the role of Chief Market Strategist.”

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Public Release Date Revealed for the Binance DEX Testnet

Binance CEO Changpeng Zhao has finally announced the date for the first public release of Binance Chain’s decentralized exchange testnet. According to the tweet, the exchange is “targeting” a February 20 release…

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