12 December

“A new crypto plugin will allow WordPress publishers to receive ad earnings directly into their Ether (ETH) wallets. The WordPress plugin plans to compete with Google AdSense, allowing publishers to earn ETH through banner ads.

After you inserted our widget your ad space is automatically openly auctioned off using our smart contract every two weeks to the highest bidder.

Google Adsense only pays you 68% of your ad earnings. We on the other hand pay you a whopping 90%.”

“An Ethereum-based fund has completed its initial public offering (IPO) on the Toronto Stock Exchange (TSX). 3iQ successfully launched a similar bitcoin fund earlier this year. The ether product’s exchange listing marks a “world first.”

The Ether Fund Class A Units, aimed at all investor types, have opened for trading under the symbol QETH.U. Investors in the U.S. are specifically excluded, however. Gemini said it will provide exclusive custody of the fund’s assets.”

“Data from blockchain analysis firm Glassnode indicates that decentralized finance (DeFi) may be taking a huge bite out of centralized finance (CeFi) when it comes to ether. The amount of fees on Ethereum spent on ether deposits to centralized exchanges has fallen to less than 1%, as of Dec. 9, 2020, from around 26% in late October 2017.

Chief Executive Changpeng Zhao of the biggest crypto exchange by daily spot trading volumes, Binance, said he fully expects DeFi to one day cannibalize his CEX business.”

“Sweden’s financial markets minister, Per Bolund, said the Riksbank finance committee has launched a review into the prospects of moving the country to a digital currency, a study that will be completed in November 2022.

Currently, Sweden’s central bank is running an e-krona pilot project with Accenture Plc using distributed ledger technology.

It’s crucial that the digitalized payments market functions safely, and that it’s available to everybody … depending on how a digital currency is designed and which technologies are used, it can have large consequences for the entire financial system.”

See Also: 3 Chinese E-Commerce Giants Join Latest Digital Yuan Lottery Trial

“Ethereum wallet MetaMask is seeking to attract institutional investors into the decentralized finance sector with the soon-to-be-launched institutional-grade version.

The upgraded version is aimed at “trading firms and crypto custodians” and will provide them with “institutional-grade features,” including the ability to ‘swaps tokens, borrow, lend, and invest in Ethereum applications.’ It will also provide users with ‘operational, security, and reporting features necessary to run a professional DeFi trading desk.‘”

“The engagement of Fidelity, Citibank, BlackRock and now MassMutual need not be the death knell for a humanist Bitcoin dream.

But there’s still an inherent conflict between the interests of regulated, compliance-conscious institutions, which will support the imposition of regulations and controls to ease their own participation in it, and those that see such rules and constraints as exclusionary barriers to entry for a wider swath of humanity.

A lightning rod here is KYC and AML, the “know-your-customer” and “anti-money laundering” rules that compel banks to collect identifying records for all their account holders. The problem is not only that KYC runs counter to the cypherpunk ethos of privacy. This requirement can seriously hurt the goals of financial inclusion and innovation.

Raoul Pal says we need to first go through a process of official accommodation within the existing system to advance Bitcoin’s journey along “Metcalfe’s Law.” Once it becomes a ubiquitous network, then it is in a position to properly challenge that system.

Indeed, as Carlson pointed out, the positive thing, for those who believe in Bitcoin’s disruptive potential, is that ‘you’re not going to implement KYC and AML at the protocol level.‘ Since ‘there is nothing inherent to Bitcoin that can be regulated, enforced or controlled in that way,’ it can at that level always resist official coercion.

But she also worried that the ever-growing encroachment of compliance requirements on applications built on top of that protocol impedes access to it among marginalized and financially excluded people.”

See Also: MicroStrategy’s Bitcoin-Driven Offering Boosted to $650M After Notes Buyer Bought $100M More

“The Yam community is excited to announce a collaboration with the UMA protocol team and the creation of a new product suite: Degenerative Finance. This new suite of degen derivatives will begin with UMA’s recent uGas contract and expand into a variety of speculative and hedging products catered to the DeFi ecosystem.

With the flexible nature of UMA’s system, these products could include impermanent loss hedging, volatility derivatives, TVL derivatives, and more. Ultimately, Yam’s Degenerative Finance seeks to fill a market need that allows for new forms of speculation and hedging in DeFi that will increase market efficiency and allow for the expression of more nuanced market views.”

See Also: Introducing: Ethereum Address Activity Notifications

“Aavegotchi aims to “make DeFi fun.” Each Aavegotchi is a playable avatar that represents DeFi collateral that is earning yield on Aave. That said, you can also battle the spooky little critters, level them up and equip them with wearables that change traits.

Since an Aavegotchi represents locked assets, its owner can liquidate the underlying stake at any time. But in doing so the Aavegotchi will disappear. So it’s a test to see what happens to playability when characters have real value beyond their gaming value.

Further down the road, an open-world metaverse called The Realm will launch where Aavegotchis will populate as first-gen crypto pets.”

“Some might say we are seeing the strengthening of a crypto daisy chain connecting Switzerland and Singapore.

Singapore and Switzerland have very similar characteristics. They each have very progressive central banks and regulatory regimes, and a progressive kind of political regime where they really support digital assets.

The big picture is a steady institutional creep, said Grant, gathering pace in jurisdictions that have embraced the technology and also implemented the right sort of regulatory regimes. The trepidation of a few years ago has been replaced with a strong demand for crypto from small to medium-sized banks and wealth managers.”

See Also: India’s Banks Are Once More Serving Crypto Traders and Exchanges

“Micah Johnson’s “ˈsä-v(ə-)rən-tē” (pronounced “sovereignty”) was inspired by the Black Lives Matter movement and features two African American boys hoping to fulfill their dream of becoming astronauts.

This is represented by a spacesuit behind a closed door. Each year on the boys’ birthdays, they move closer to the gradually opening door, depending on the amount of Bitcoin (BTC) donations made by holders of a nonfungible token version of the artwork.

The piece also won the headline “NFT of the Year” award at the 2020 NFT Awards announced this week.”

See Also: Snowden and human rights advocates talk internet surveillance in the era of BLM

The NYAG said stablecoin issuer Tether and cryptocurrency exchange Bitfinex had been cooperating with its inquiry.

The NYAG has alleged Bitfinex attempted to cover up the loss of $850 million in funds held on behalf of customers via payment processor Crypto Capital, and that it secretly borrowed the shortfall from sister firm Tether’s reserves.”