8 December

BBVA, the second-largest bank in Spain, with about $840 billion in assets, is poised to enter the cryptocurrency trading and custody space. The Spanish bank will begin its crypto offering out of Switzerland, said a source.

There are still some compliance hurdles so this will not be in December, but I expect they [BBVA] will be live next month.”

See Also: Standard Chartered CEO: Digital Currency Adoption ‘Absolutely Inevitable’
See Also: German bank launches crypto fund covering portfolio of digital assets

“The business intelligence company said in a press release it will ‘invest the net proceeds from the sale in bitcoin in accordance with its Treasury Reserve‘ after first making way for business expenses.”

“The platform said traders and investors will have direct access to listed companies – also including Google, Facebook, Netflix, Pfizer and others – without having to use an external broker or pay additional fees.

Launched in a collaboration with DigitalAssets.AG, the tokenized shares can be purchased in fractions using either U.S. dollars, tether and bitcoin. The listings also open up access in countries without access to U.S. stock markets.

Traditional clearing systems are inefficient and complex and trading small volumes can be expensive and take days, all of which is totally unnecessary given the technological advances that have been made in the last decade.”

“Institutional investors will play an important role in securing the future of cryptocurrencies like Bitcoin (BTC), according to Erik Voorhees. Voorhees said governments have a greater incentive to censor Bitcoin if it’s used primarily by retail investors. With large institutions in play, there may be a natural “bulwark” against government overreach.

Voorhees said Bitcoin’s adoption curve will grow substantially over the next five to ten years. In that time, Voorhees estimated that half the world could have exposure to BTC.”

See Also: G7 Officials Stress Need to Regulate Digital Currencies: US Treasury
See Also: Biden Administration Will ‘Ultimately Be Supportive’ of Crypto: Circle CEO

“The S$12 million (US$8.99 million) program from the National Research Foundation (NRF) will support research and development of real-world use cases for the technology. The Singapore Blockchain Innovation Programme is expected to interact with up to 75 companies ranging from multinational corporations, large enterprises and IT firms to come up with 17 blockchain-based projects.

Blockchain technology helps to embed trust in applications spanning logistics and supply chains, trade financing to digital identities and credentials.”

See Also: Japanese City to Trial Blockchain Voting System
See Also: Thai tax collectors to streamline revenues with blockchain tech in 2021

“There are now more than 1 million addresses holding 1 ETH, a number that has grown by 12% in the last six months. While traditionally Ethereum’s price was strongly correlated with Bitcoin’s, the recent boom in DeFi and the advent of Eth 2.0 has given the project’s rise a distinct flavour.

Speaking of DeFi, the number of individual addresses involved in decentralized finance has just surpassed 1 million. The number is a ten-fold increase since the start of 2020, which is mirrored by the amount of money locked up in DeFi protocols. On January 1, there was $700,000 stored in contracts using platforms like Uniswap, now there’s more than $15 billion.

And if that wasn’t enough to get the Ethereum champagne corks popping, transaction volume surpassed $40 billion in November.”

“Scholz said in a statement that Libra’s rebranding as Diem was merely a cosmetic change.

A wolf in sheep’s clothing is still a wolf. It is clear to me that Germany and Europe cannot and will not accept its entry into the market while the regulatory risks are not adequately addressed.

In his statement, Scholz also stressed the importance of ensuring currency monopoly remains in the hands of nations.

See Also: Consideration phase for digital euro to go well into 2021, says ECB exec

“The international partnerships mean the California company now has access to additional payment methods including Visa, Mastercard, Apple Pay, Google Pay, Samsung Pay, SEPA, FasterPay, Australia Post and more.

The blockchain industry has been evolving so fast that we no longer need to wait for the banking industry to adopt crypto. We are building the entire banking functionality into our own products and platforms at any jurisdiction, and for any type of user.”

“Alex Gladstein of Human Rights Foundation suggested that Bitcoin can push back against surveillance capitalism and social credit systems. Gladstein pointed to the immense growth of China’s surveillance state and its reputation-based “social credit system,” which is gradually coming to life.

In this peer-to-peer electronic cash system, we have our defense system. We have our way that we’re going to defend humanity.”

“The DOJ named him as a mastermind behind one of the first cryptocurrency exchanges, BTC-e, and indicted him on allegations of ‘computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials and narcotics distribution rings.’

[The court] alleged that, in particular, he helped to develop the Locky malware.”

The Disrupt Weekend

Next week, Canadian digital asset investment manager 3iQ will be launching an IPO of an Ethereum exchange-traded trust, The Ether Fund, on the Toronto Stock Exchange (TSX) under the ticker QETH.U.

The maximum offering for the launch is $100 million, and the closing date of the offering will be no later than December 10, 2020.”

“Over $600 million is now staked on the world’s most-used blockchain, just days after its ‘beacon chain’ launched. The amount consists of a total of 3,028 depositors, who staked a minimum of 32 ETH each.”

See Also: Vitalik Tweet – 1% of ETH Supply Locked in Staking

“Bitcoin has been used by many investors this year as a hedge against a drop in the purchasing power of U.S. dollars. Ether is considered the currency of “the world computer,” which aims to build an ecosystem of decentralized applications.

Thus, while bitcoin can be seen as somewhere between a store of value and a commodity on the “asset superclass triangle,” ether could ultimately become the first asset to be a combination of all three classes of assets: capital assets, commodities and stores of value.

How to Yield Farm with a Smart DeFi Index (PIPT) Earning Cashflows

See Also: Real Vision: Ethereum Documentary

Entering and exiting L2 chains instantly is ready to be integrated into dApps! We demo’d this usecase back in August, and were blown away by the response from the community. Since then, we’ve built out a fully working implementation of a cross-chain routing network using state channels that works with L2s, Eth2 shards, and even other L1 chains. We call it Vector.

By making Connext nodes chain-agnostic and by allowing them to open channels on many chains concurrently, we create: A simple, shared communication protocol (like TCP/IP) that routes value instantly between any discrete L2 or L1 chains!”

See Also: uLABS Gas Futures Token
See Also: ‘Basis Cash’ Launch Brings Defunct Stablecoin Into the DeFi Era

“It’s now common knowledge that, in both Bitcoin and Ethereum, the vast majority of mining resources is concentrated in a small number of mining pools. Ethereum 2 has chosen to move away from a proof-of-work model to a proof-of-stake model in part to try and address this problem.

But what prevents staking pools, managed by exchanges, from posing a similar risk to the centralisation of power at the chain consensus level? The answer is very little.

In a world in which Ethereum becomes the engine for a new global and decentralised financial system, it would be naive not to expect governments to apply pressure on these exchanges, force them to censor certain transactions; and perhaps even coerce them into attacking the network itself (should Ethereum be deemed too great a threat to the powers that be).

The good news, however, is that this scenario is not inevitable. There is still time for us to help bring about a world in which the pools that users decide to stake with are protected by community members with incorruptible principles, rather than profit-driven exchanges.

In our vision, this takes the form of a DAO. A DAO that helps match a self-custodial pool of validators with a decentralised pool of stakers.”

See Also: Kraken Adds Eth2 Staking Support
See Also: How to Stop Your Ethereum 2.0 Validator From Getting Slashed

“CBDCs promise faster settlements, better security, ease of use, instant implementation of monetary policy (if you consider that an improvement) and transaction costs that are lower than cash. In the future, these advantages will be stressed ad nauseam by pundits and politicians to make the technology palatable to the whole population.

While all of the advantages are true, it is also crucial to think through the implication of the technology and how it could negatively affect the economy and the citizenry.

With CBDCs, the whole economic system could be brought to the brink by bad updates or data leaks of the centralized ledger, which won’t be protected by proof-of-work in the same way as Bitcoin.

Imagine a social credit scoring system coupled with a CBDC. All your purchasing decisions could influence your score on which you depend for everything. Donate to the “wrong” non-profit like WikiLeaks? Whoops, you cannot purchase train tickets anymore. What sounds like a far-fetched dystopian nightmare is already a reality in China.

More than 60% of all jobs around the world operate in the informal economy. Many activities we all engage in fall within the informal economy, and they are efficient. They make life easier, they overcome useless red tape and they save money. The government does not like this because it cannot generate tax revenue. Having a government ledger that tracks every transaction would make it virtually impossible to do anything within the informal economy, and a huge chunk of the 30 million jobs would vanish. A CBDC paves the way for a cashless society, which is very much in the government’s interest. Thus, it could be the end of informal markets, which are often a safe haven for many people in light of an ever-expanding regulatory state.

CBDCs could completely do away with fiscal policy. Central banks could immediately generate cash and hand it out to small and medium-sized businesses. Governments will argue this is highly beneficial. Still, it bears the danger of manipulation, economic mismanagement and leads to an even faster monetization of government debt, the cost of which we all have to face by holding money with less and less purchasing power.”

“With the release of v1.9, Status introduces a few new features to make interacting with your community more enjoyable.

The new “status” tab within the tab bar is akin to an unstoppable, censorship resistant Twitter feed that enables anyone to set their own status as well as view a timeline-like feed of their contacts’ status updates.”

“The Seychelles-based exchange announced a Polkadot Sponsorship program, as well as a $5 million Tether stablecoin fund from the Huobi Innovation Lab to support “developers, event organizers, content creators, and ambassadors” throughout the Polkadot ecosystem.”

“The outage lasted roughly five and a half hours before over 200 Solana network validators, representing over 80% of the stake weight of the network, successfully initiated network restart instructions and began producing blocks again.

A post-mortem on the network interruption is forthcoming.”

“A State Assembly in Pakistan passed a resolution this week demanding laws for cryptocurrency ownership and Bitcoin mining. Pakistan faces “serious economic issues,” as per Middle Eastern policy think tank MEI, and has seen a decline in its economic output this year as per the World Bank.

But crypto offers a way out. Pakistani ministers state the Khyber Pakhtunkhwa region’s naturally cool environment, cheap power, and availability of manpower are the classic trifecta of all conditions required to profitably mine Bitcoin and other cryptocurrencies.

See Also: India Plans to Tax Income From Bitcoin Investments: Report

“Apple co-founder Steve Wozniak has launched Efforce, a company that facilitates investments in energy efficiency projects via cryptocurrency and blockchain technology. The company aims to be a marketplace to streamline the process of financing and undertaking such projects by enabling them to receive crowd contributions from investors via its token, WOZX.

There will be a smart meter on the company’s blockchain to measure each project’s energy savings and turn them into energy credits that are saved in investors’ profiles for use or sale.

We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change.”

See Also: Web Creator Tim Berners-Lee Has a Plan to Decentralize the Web

5 December

Bitcoin (BTC) got many investors hooked on crypto, but it’s Ethereum’s Ether (ETH) that’s beginning to garner more attention, according to Grayscale.

Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. […] There’s a growing conviction around Ethereum as an asset class.”

“Through this acquisition, GBV is dedicated to leverage its network strength, to promote the accelerated growth of OMG Network, and further enhance the adoption of OMG blockchain in Asia and beyond.

OMG’s price jumped on the news, rising over 18% from $3.74 to $4.41 during the Asian trading hours. OMG rallied by over 200% in August as the DeFi-led congestion on Ethereum’s blockchain boded well for OMG network.”

“Brian Brooks predicted a lineup of cryptocurrency banking and clarification actions will emerge from the Trump Administration during its final days. Brooks cited banks plugging ‘directly into blockchains as payment networks as one place where the answer has to be yes.’

I don’t think we need 50 regulations, but what we do need is clarity about what’s allowed.

It may have been a bubble two years ago, but with more clarity institutions that see this is a real thing are going to adopt at scale, which they’ve already started to do so.”

See Also: US House Financial Services Chair Waters Recommends Joe Biden Rescind OCC Crypto Guidance
See Also: Coin Center Donations Top $100K Worth of Dai Following Anti-Stablecoin Bill Proposal

“DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually been much faster. I also think that the legal issues are more difficult to sort out on the DeFi side.

DeFi concerns aside, Pierce seems optimistic about the recent launch of the Ethereum 2.0 Beacon Chain.

Peirce explained that her proposed Safe Harbor framework for blockchain projects will likely develop further. In a nutshell, the Safe Harbor proposal would grant network developers a three-year grace period to build decentralized projects without worrying about SEC legal action, provided they meet a basic reporting standard at the beginning of that time.”

Researchers from the University of Bern have released a report claiming Ripple’s consensus protocol “ensures neither safety nor liveness.”

Our findings show that the Ripple protocol relies heavily on synchronized clocks, timely message delivery, the presence of a fault-free network, and an a-priori agreement on common trusted nodes with the [Unique Node List] signed by Ripple.

If one or more of these conditions are violated, especially if attackers become active inside the network, then the system may fail badly.”

See Also: Ripple CTO Says Majority Vote Would Force the Burning of Billions in XRP

Andreas on the Rumored Self-Hosted Wallet Regulations in the US (Recommended Watch)

“Corbat made clear CBDCs are an “inevitable” development in the future of money. Corbat did not disclose Citigroup’s government partners.

As a significant practitioner in the payments market with connections to over 200 clearing systems, Citi is providing experience-based insights into the design choices involved in the formulation of digital currencies.”

See Also: Russia’s Crypto Community Fears Digital Ruble Plan Means ‘Back to USSR’

“With its new blockchain-enabled digital land registry tool, the U.N. wants to help Afghanistan address major challenges in urban informal settlements — otherwise known as slums or shanty towns — like land-grabbing, inefficient use of land, and insecure land tenure in informal settlements.

The tool is based on a hybrid blockchain platform run by European startup LTO Network.

The plug-and-play design of the LTO Network’s blockchain is now available to any country to utilize as a blockchain add-on to their existing land registry systems.”

4 December

The coming product is poised to become a hub for cryptocurrency pricing data at a time when more Wall Street investors than ever are searching.

We’ve been watching [the digital asset space] and we feel it’s at a point of institutional interest in maturity, where companies such as ours wants to get in and contribute to the transparency of the marketplace.”

“Joseph Lubin believes Eth2’s development will move quicker than many are expecting, predicting the new protocol will “absorb” Ethereum in “the not-too-distant future.”

People in the know around the ecosystem are very optimistic about how fast things could unfold, as the really complicated work has been done in launching Phase 0.

Lubin predicted that Eth2’s next phase will come online between nine and 12 months from now. He asserted the coming increase in the amount of data availability will enable layer-two networks to ‘massively increase the amount of transactions per second throughput that they can offer.’

Retail payments is incredibly exciting. ConsenSys has built architectures that can handle nearly 20,000 transactions per second on an Ethereum-based network.”

See Also: Rollups to preserve Ethereum’s DeFi monopoly despite competitors: Messari (Good read)
See Also: Ethereum transaction volume surpassed $41 billion in November
See Also: Ether Eyed as Value Play With Bitcoin Pressing $20K

“According to Lane, the predicted decline in COVID-19-fueled cash transactions has been happening more rapidly than the bank had previously expected. This could trigger the bank to issue a CBDC sooner that it originally planned.

The latest remarks by the deputy governor suggest that the Bank of Canada is shifting its stance toward a CBDC.”

See Also: Swiss Wholesale CBDC Trial Shows ‘Feasibility’ for Central Bank Money on Distributed Ledger, BIS Says

Tudor Jones said he is certain that sovereign digital currencies will dominate economies and finance in 20 years.

$500 billion is the wrong market cap [for bitcoin] in a world where you’ve got $90 trillion equity market cap and God knows how many trillions in fiat currency. I’m going to assume that it’s at the wrong price for the possibilities that [bitcoin] has and I’m going to assume that the path forward from here is north.”

See Also: Nigel Farage Has Become a Bitcoin Believer
See Also: Worsening US Dollar, Inflation Metrics Bode Well for Bitcoin’s Continued Rally
See Also: Swiss Firm Launches ‘No-Fee’ Bitcoin Exchange-Traded Product on Nordic Growth Market

“The new system enables banks to use existing infrastructure to provide better service 24/7, with faster speeds, clarity on fees and, crucially, predictability on when an end beneficiary’s account will be credited.

Despite these improvements, SWIFT’s innovations may not be happening fast enough. As the Financial Times observed in December 2018, SWIFT’s emerging competitors aren’t just limited to startups like TransferWise and Revolut but major financial institutions leveraging blockchain technology. The weaponizing of SWIFT through the aggressive use of sanctions has also compelled certain countries to pivot toward blockchain.

Unlike SWIFT, blockchain enables cross-border transfers in a decentralized fashion, which means payments are approved directly.”

This new version of Aave lets a borrower change their underlying collateral in a very user-friendly, gas-efficient way without ever leaving Aave. This is especially good if a long bet turned out to be a bad one.

You could swap your collateral from LINK to AAVE, from ETH to YFI.

Aave will also introduce additional nuance into its governance system and flash loans generally, while optimizing gas costs across the board.”

See Also: Loopring’s zkRollup AMM is Live
See Also: Theta Labs Launches Its Blockchain Video Delivery Platform in Beta

“Kraken said it will collaborate with Gitcoin, an Ethereum-based platform for community fundraising, to reward developers building the blockchain’s “most essential software.” Gitcoin maintains an open marketplace to connect developers and donors.

The exchange will match up to $150,000 in donations made in Gitcoin’s “Ethereum Infrastructure Tech” category in the eighth round of Gitcoin Grants.

With their generous contribution, Kraken is excited to give back to the volunteer developers building the infrastructure of the crypto economy.”

The new position is expected to play a key role in defining and implementing Spotify’s payments strategy as well as furthering the company’s involvement in Facebook’s recently rebranded crypto project, Diem. The position will also focus on wider digital assets and the crypto industry.

You will drive further consideration of new opportunities and innovation in the emerging ecosystem of distributed ledger technology, blockchains, cryptocurrencies, stablecoins, CBDCs and other digital assets.”

See Also: Stripe will offer bank accounts, with help from Goldman Sachs and Citi

Ledger Ups its Marketing Game

See Also: Ledger Ad #2
See Also: Ledger Ad #3

“Now a permanent fixture of the regulator’s hierarchy, FinHub is poised to take on an even more expansive role. SEC said the shift “strengthens” its ability to adapt to ever-changing financial markets.

Our action to establish FinHub as stand-alone office furthers our commitment to facilitate the introduction of new technologies for the benefit of investors and the efficiency and resiliency of our markets.”

See Also: ‘New rules’ for SEC could follow example set by Wyoming, says Hester Peirce

Stablecoins and continentwide regulations are key to breaking down barriers to Africa’s economic growth.

Sub-Saharan Africa features a number of countries that vary wildly in technological and economic development. Lacking a common currency or trade laws, borders become barriers to trade and growth. It is also the region that is most expensive to send money to.”

See Also: Ride-Sharing Giant Cabify to Track and Offset Carbon Emissions Using Blockchain Platform

3 December

Visa on Wednesday said it is linking its payments network of 60 million merchants to the USDC stablecoin.

While Visa itself won’t custody any USDC, Circle will be working with Visa to help certain Visa credit card issuers integrate the USDC software into their platforms and send and receive USDC payments.

Eventually, Visa will support the issuance of a credit card that lets businesses send and receive USDC payments directly from any business using the card.”

“CEO of BlackRock Larry Fink said bitcoin has “caught the attention” of many people and that the cryptocurrency market was still relatively small compared to others.

Fink also said having a digital currency has a real impact on the U.S. dollar, making it less relevant on a global scale for international holders of dollar-based assets. He also raised the question: “Does it change the need for the dollar as a reserve currency?”

BlackRock is the world’s largest asset manager with over $7.4 trillion dollars in assets under management.”

“Interviewed by New York Times columnist Andrew Ross-Sorkin for the online 2020 tech conference, Schulman anticipated digital currencies soon entering the mainstream and becoming an everyday payments tool.

I think that if you can create a financial system, a new and modern technology that is faster, that is less expensive, more efficient, that’s good for bringing more people into the system, for inclusion, to help drive down costs, to help drive financial health for so many people… So, over the long run, I’m very bullish on digital currencies of all kinds.

As we thought about it, digital wallets are a natural complement to digital currencies. We’ve got over 360 million digital wallets and we need to embrace cryptocurrencies.”

See Also: 1inch Raises $12M to Keep Up With DeFi’s Growing Crop of DEX Aggregators
See Also: Ten crypto leaders are in the new Forbes 30 Under 30 list

“Buterin’s roadmap encompasses all Ethereum developments to provide a detailed overview of what’s next for the platform, including approximate completion bars. A lot of the work is done in parallel, meaning scalability is closer than it seems.

Key features of the next major milestone are the transition of Ethereum 1.0 to proof-of-stake, the introduction of Eth2 light clients on Eth1, and data sharding — all of which were previously grouped under Phases 1 and 1.5.

Enormous scalability improvements can be achieved by executing on the latter two features, as they would enable hosting rollups on a sharded data structure. Rollups are a layer-two technology that offloads computation outside of the chain but guarantees its correctness through proofs stored on-chain. Due to this, data sharding vastly increases the rollups’ room to maneuver and could enable more than 10,000 TPS as soon as light clients and data sharding are introduced.”

See Also: Vitalik Roadmap
See Also: New withdrawal contracts will enable Rocket Pool Eth2 staking service to launch

The 18-page bill would specifically require stablecoin issuers to obtain a banking charter; require approval from the Federal Reserve, Federal Deposit Insurance Corporation and bank regulator to issue a stablecoin; require those same entities to conduct an ongoing analysis of any systemic risk; and require issuers to have FDIC insurance or maintain reserves for easy conversion back into U.S. dollars.

A number of stablecoin issuers currently operate in the U.S. without banking charters, including the CENTRE consortium. Algorithmic stablecoins like Basis.Cash or crypto collateral tokens like DAI would also appear to fall under this bill. Circle CEO Jeremy Allaire said the bill “would represent a huge step backwards” by limiting industry innovation.

Forcing crypto, fintech and blockchain companies into the enormous regulatory burdens of Federal Reserve and FDIC regulation and supervision is inconsistent with the goals of supporting innovation in the fair and inclusive delivery of payments that comes from stablecoins.”

See Also: Ukraine’s Draft Crypto Bill Passes First Parliamentary Hearing

“The game is F1 Delta Time, developed by Animoca Brands, and the specific piece of track from the Circuit de Monaco. The NFT was in the “Apex”-tier and it will reward its owner with 5% of all gameplay fees and 4.2% of elite staking yields from players’ deposits—both paid in Animoca’s REVV utility tokens.

This is the highest price ever paid for a game-based NFT, branded game NFT, and, potentially, any NFT.”

See Also: Major anime platform incorporates crypto and NFTs to ebook market

The move that will increase liquidity and perceived affordability of the shares.

When the stock split takes effect, there will be 265.5 million ETHE shares with each representing 0.01031643 of an ether token, a ninth of its current value.”

“The universal basic income, or UBI, project from GoodDollar has reached more than 40,000 people from 180 countries since it launched in September.

The project mints its G$ tokens through interest generated by third-party permissionless protocols from a basket of crypto assets. Individuals and corporate supporters receive market-rate yield payouts in G$, and a daily amount is set aside for distribution as digital UBI for GoodDollar participants.

Although at an early stage in its lifecycle, all signs point towards GoodDollar demonstrating that a digital basic income can work at scale.”

2 December

“The first stage of the next-generation proof-of-stake (PoS) Ethereum 2.0 is now live as of 12:00 UTC Tuesday. Tuesday’s launch is the culmination of years of sustained blockchain research.

The Beacon Chain will be the backbone of a new Ethereum blockchain, a network intended to keep pace with PayPal (PYPL) and Visa (V) in terms of processing speed, while rivaling them in terms of transparency and payment finality.

The launch of the Beacon Chain is a huge accomplishment and lays the foundation for Ethereum’s more scalable, secure, and sustainable home.”

See Also: Beacon Chain Explorer
See Also: Ethereum flips Bitcoin’s node count

“Nearly one-fifth of PayPal (PYPL) users have already traded bitcoin using the PayPal app.

Per the Mizuho survey, about 65% would use bitcoin as a currency at PayPal’s 28 million merchants; 17% of users have already used the app to buy and sell bitcoin.”

See Also: PayPal-Backed Identity Platform Acquired by Nevada’s Blockchains LLC

“The group, composed of 27 member firms, announced Tuesday it was changing its name to Diem (the Latin term for “day”) as it gears up for the potential 2021 launch of a single, dollar-pegged stablecoin. The organization has also finalized its leadership team.

Diem’s coin, when it launches, will be compliant with international regulations at the protocol level, Levey said. He said this means that compliance with regulations such as the Financial Action Task Force’s “travel rule” will be baked into the network, as will other features like consumer protection.

A revised white paper also reduces Facebook’s role. ‘While Facebook teams played a key role in the creation of the Association and the Libra Blockchain, they have no special rights within the Association.’ Levey believes regulators are warming up to the project, particularly through the changes and the implied distance from Facebook.

Libra is ready to launch its first stablecoin, the “Diem dollar,” as soon as the new entity is licensed through the Swiss Financial Market Supervisory Authority (FINMA).”

Bitcoin’s price—having started the month at $13,737—finished the month at $19,625, setting a new record. The record comes just a day after Bitcoin registered a new all-time high price.

Bitcoin just made its largest, and highest, monthly green candle in history.”

“In addition to combining technical features for market infrastructure, the merger would, among other things, combine both markets’ total value locked into a single lending pool. Both protocols would also share developer resources and hold each other’s tokens in their treasuries.

As Sushi focused on expanding their AMM ecosystem, and as Yearn focused on expanding their strategies, more and more overlap became apparent. Yearn needed custom AMM experiences for their strategies, and Sushi started pushing the boundaries of yield and money markets.

Cronje has spoken with SushiSwap’s de facto leader, a pseudonymous programmer named 0xMaki, about the merger, but Yearn and Sushi token holders from both communities will have to vote on the proposal to make it official.

Physically settled futures won’t become more popular until the exchange can offer physically traded futures on margin, Chippas said. ErisX is working with the U.S. Commodity Futures Trading Commission (CFTC) to allow the exchange to offer margin in the future.

In the meantime, the exchange is launching cash-settled bounded futures, which provide upper and lower bounds on gains and losses, protecting investors from large price movements.”

The Universal Protocol Alliance, a coalition of blockchain companies led by Uphold and including Bittrex Global, Ledger, Certik and Infinigold, announced the Universal Carbon (UPCO2) token Tuesday.

Each blockchain-based UPCO2 token represents a certified measure of carbon dioxide. They can be bought and held as an investment, or burned to offset a company or individual’s carbon footprint. Blockchain technology has been touted as a way to prevent the double counting (or double spending) of carbon credits in all areas and markets.

We are the first people in the world that are making these credits accessible to retail, and holdable.”

The European Union is one of the hottest regions in the world in terms of raising capital through token offerings, according to ICO Watchlist. And, as more and more companies choose to put the United States on the list of banned jurisdictions alongside countries like Afghanistan, North Korea and Syria, the EU is bound to become even more popular.

In the last year, European-based projects like Polkadot (Switzerland) and Bitpanda (Austria) have sold tokens worth millions of euros through initial coin (ICO) or initial exchange (IEO) offerings. Leading blockchain projects such as Ethereum and MakerDAO are supported by Swiss foundations.

There are good legal reasons why companies are attracted to Europe. For starters, there is no Howey Test. Most European regulators, particularly those in the DACH region (Germany, Austria, Switzerland), distinguish security tokens and payment tokens from utility tokens and acknowledge that utility tokens, for the most part, are not subject to financial services or capital markets regulations.

Unlike in the U.S., European regulators simply do not have a history of cracking down on token issuers. And token issuers are far less likely to get bogged down in private litigation in Europe.”

“Blockchair’s lead developer argues that because Taproot introduces a new “script” to Bitcoin – which dictates under which conditions coins can be spent – the Taproot coins will become distinguishable from other bitcoins.

If the change address script type is the same as the sending address but different from the recipient address then it’s easy to guess where the sender sent their coins. Blockchain analysis companies can figure out (or at least guess) where funds are going.

Bitcoin developers argue this is a concern that many have already considered. There are already many, many script types, each of which can be differentiated from others, and adding one more won’t be much of a issue, let alone a catastrophic one as Zhavoronkov describes it.

Bitcoin today already suffers from the situation described by that PDF, and Taproot improves the situation on balance. Taproot is a huge positive for privacy and it should be added to Bitcoin as soon as is safely possible.”

“The company’s intelligence team said a group called BISMUTH hit government targets in France and Vietnam with relatively conspicuous monero mining trojans this summer. Mining the crypto generated side cash for the group, but it also distracted victims from BISMUTH’s true campaign: credential theft.

Crypto-jacking ‘allowed BISMUTH to hide its more nefarious activities behind threats that may be perceived to be less alarming.'”

“CEO Barry Silbert tweeted Tuesday that the 30-second advertisement will be ‘running on major networks all over the country.’

Grayscale launched its #dropgold campaign in May 2019 when Bitcoin was trading at roughly $5,400. At the time, few institutional investors had come out publicly in favor of digital assets. Times have certainly changed.”

1 December

After nearly three years of waiting, bitcoin investors can celebrate a new all-time high Monday after the leading cryptocurrency traded as above $19,900 Monday morning, breaking the previous record set in December 2017.

The record highs represent validation of the investment as the cryptocurrency continues to demonstrate resilience.

The significance of a new all-time high in dollar terms can’t be understated. This is yet another testament to bitcoin’s staying power.”

See Also: 5 Reasons Why Bitcoin Just Hit an All-Time High Price
See Also: Bitcoin’s All-Time High Price Rally Is Sustainable. Analysts Explain Why

Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its $5 billion Macro Opportunities Fund gain exposure to bitcoin by investing up to 10% of the fund’s net asset value in the Grayscale Bitcoin Trust (GBTC).

Guggenheim is the latest multibillion dollar hedge fund to signal an interest in bitcoin.”

See Also: Investment Giant AllianceBernstein Now Says Bitcoin Has Role in Investors’ Portfolios

Coinbase says it plans to roll out Eth2 staking, trading and conversion services starting in early 2021.

While staked ETH2 tokens remain locked on the beacon chain, Coinbase will also enable trading between ETH2, ETH, and all other supported currencies providing liquidity for our customers.”

“In the piece, Lagarde makes a bullish case for a digital euro while throwing shade at potential rivals such as cryptocurrencies and stablecoins.

Using stablecoins as a store of value could trigger a large shift of bank deposits to stablecoins, which may have an impact on banks’ operations and the transmission of monetary policy.

Stablecoins, particularly those backed by global technology firms … could also present risks to competitiveness and technological autonomy in Europe. Their dominant positions may harm competition and consumer choice, and raise concerns over data privacy and the misuse of personal information.”

See Also: Bilateral Saudi, UAE Digital Currency Experiment Shows Benefits of Distributed Ledgers, Central Banks Say

“Tezos developers have revealed the next upgrade proposal dubbed “Edo.” The implementation of Zcash’s library Sapling will allow “shielding” transactions on Tezos.

Just as with the privacy-focused coin, Sapling will allow “shielding” transactions, a feature that Tezos developers will be able to integrate into their smart contracts and “privacy-conscious” applications.”

“Yearn’s Andre Cronje said Cover will become the backstop coverage provider for Yearn, and for DeFi as a whole. For its part, Yearn will get coverage for its vaults and be able to offer its users a reduced risk product.

In the past week, Yearn announced a partnership with Pickle Finance, a yield farming protocol; a vault integration with Argent, a crypto wallet; and a merger with Cream Finance, a lending protocol.”

See Also: Yearn teams up with Akropolis to boost institutional outreach

“Finka’s native token will be used to facilitate trades every time cattle from the La Pradera ranch in Bolivia are sold, with a share of the profits then distributed to holders of the token.

The token is being claimed as the first blockchain-based financial instrument in Switzerland to hold an International Securities Identification Number, the universally recognized identifier for securities.

The Finka Token is unique in that it has a built-in link to a secondary market within the CoreLedger platform. Holders can convert the token into other tradable assets, literally anything from gold to oil or corn.”

“The regime of Nicolás Maduro continues to lean on crypto to keep economically solvent.

The stated goal of the mining operation is ‘strengthening and self-sustainability of our units of the Bolivarian Army,’ adding later that these mining centers would be generating ‘unblockable sources of income and an alternative to the trust system blocked and controlled by colonialist interests.'”

Voluntarism.dev, a self-described group of ‘old-guard miners and whales’, today launched a 51% attack on Bitcoin Cash ABC (BCHA) in protest over Bitcoin Cash’s contentious hard-fork on November 15.

The attack is two-fold. First, the attacker mine empty blocks to delay the confirmation for transactions. This does not require much hash power. Secondly, they flood the network with transactions. This does not require any hash power but costs BCHA.

Combined, they essentially create a DoS attack, making the network function poorly as a payments network. The unknown miner is doing this at great expense to themselves, so long-term, they can not sustain this attack.”

What’s Next For Money, Markets & Bitcoin (w/ Mike Maloney)