19 March

Messari lead crypto researcher Ryan Watkins seems to think that in the long-term, Ethereum may appreciate more than Bitcoin.

Ethereum’s monetary policy will actually change in Eth2 so that it actually won’t just be less inflationary than Bitcoin, it would actually be deflationary. So then, every year, there is actually less and less Ether in existence because it’s being burnt.

The crypto analyst said that with the launch of Ethereum 2.0 and a proof-of-stake consensus mechanism implemented on the new mainnet, Ethereum’s network might potentially become more secure than Bitcoin’s.

If Ethereum is more secure and it has a stronger monetary policy, well then what is the bull case for Bitcoin in this scenario?

To wrap it all up, the crypto analyst also indicated that Ethereum’s projects make it more attractive than Bitcoin, with ‘the GDP of Ethereum actually rivalling many large countries.'”

“In its report, “Bitcoin’s Dirty Little Secrets,” published Wednesday, the second-biggest U.S. lender has a lot of things to say about the largest cryptocurrency, such as there being ‘no good reason to own BTC unless you see prices going upand that its environmental record is poor.

But the bank is intrigued by decentralized finance, which it says is ‘potentially more disruptive than Bitcoin.’

Bitcoin is the most talked about cryptocurrency but Ethereum [the blockchain] has more features, including being more flexible.

We believe that one of the best differences against being disintermediated by DeFi would be mainstream finance grasping these opportunities.”

See Also: Maple Finance Raises $1.4M for Its Reputation-Based DeFi Lending Platform
See Also: Kyber Network (KNC) gains 40% as its 3.0 network launch approaches

What does the buyer actually get? Would their new-fangled piece of art, or rather the deed over said art, survive if the NFT exchange where the buyer got their piece were to fold? In many cases, the answer appears to be no. The problem is the simple fact that the work of art itself isn’t actually the NFT — the NFT simply points to it.

A promising alternative is the InterPlanetary File System (IPFS). Just like a public blockchain ledger, IFPS attempts to decentralize where the content itself is being stored. Even then, ‘IPFS only serves files as long as a node in the IPFS network intentionally keeps hosting it. Which means when the startup who sold you the NFT goes bust, the files will probably vanish from IPFS, too.’

In short: Right now NFT’s are built on an absolute house of cards constructed by the people selling them.”

See Also: Ether Cards Banks $3.7M in Presale of ‘Supercharged’ NFTs
See Also: Going to pieces: Fractionalized NFT projects gather steam

Is NFT digital art a sustainable trend? (Recommended Watch)

“Kevin Weil, a Facebook executive and a leader of Diem, the company’s digital currency initiative, announced on Thursday he is leaving in order to join a satellite firm. The departure of Weil follows the exit of other prominent executives who had worked on Facebook’s digital currency project.

The news appears to be another setback for Facebook’s crypto ambitious, which the company unveiled with considerable fanfare in June of 2019 but have since stalled amid regulatory headwinds.”

See Also: ‘We Must Not Let Zuckerberg Become a Central Bank’: European MP
See Also: Thai Central Bank Warns Against ‘Illegal’ Use of Baht-Denominated Stablecoin
See Also: French Firm Launches Euro Stablecoin With Monthly Attestations From PwC
See Also: Federal Reserve’s Powell Says CBDCs ‘Need to Coexist With Cash’

The regulator now has 45 days to approve or deny the application or extend the review period. The SEC can extend the review period up to 240 days before it has to make a final decision.

VanEck filed for the ETF with Cboe BZX Exchange earlier this year, with Cboe publishing the 19b-4 at the beginning of March. Once the document is published in the Federal Register (the nation’s logbook), the general public will have 21 days to submit comments on the SEC’s portal.”

“Built with the Lightning Network, Bottlepay is aiming to disrupt the payments space by enabling real-time cross-border transfers of both fiat money and cryptocurrencies. Users can tweet, for example, “@bottlepay send 1,000 sats to @twitteruser,” instantly sending this amount of the cryptocurrency from one wallet to another.

Besides Twitter, Bottlepay plans on extending its service to Reddit, Discord, Twitch, Telegram and Mastodon in the coming months.”

“The process Filecoin developers gave to exchanges to verify deposits includes a critical flaw that allows users to deposit the same coins repeatedly.

According to Filecoin miners at Filfox and FileStar, Filecoin’s network processed a semi-double spend on Wednesday worth millions of dollars. The double spend did not happen on-chain, but Binance credited the miners’ FIL deposit twice due to a “serious bug” in Filecoin’s remote procedure call (RPC) code.

This allows hackers to write a single check but re-deposit it as many times as they like — similar to how kids, in the arcade, used to tie strings to quarters to play forever using a single coin.

Filecoin developers have opened a GitHub issue to work on a fix for the bug. Deposits for Filecoin at Binance, Huobi and others have been halted as a result.

18 March

“Top Federal Reserve officials see inflation rising above 2% this year, but their median expectation is still for interest rates to stay close to zero at least through 2023.

Bitcoin prices pared earlier losses as Fed Chair Jerome Powell said during a televised press conference that the U.S. central bank expects to keep monetary policy loose “for as long as it takesto heal the coronavirus-wounded economy. The largest cryptocurrency is seen by many investors as a hedge against inflation, and a dovish monetary policy stance could allow faster price increases.”

See Also: Stocks, Bitcoin, & Bonds Bid As Dollar Crashes On Dovish Fed Statement
See Also: $288K by December? Bitcoin ‘will not stop at $100K,’ says stock-to-flow creator

“The Wall Street firm sees signs of maturation especially given its resiliency since the height of the pandemic.

A firming regulatory framework, deepening liquidity, availability of products and growing investor interest ­– especially among institutional investors – have coalesced… at a time when the challenges to conventional cash/stock/bond diversification are rising.”

See Also: Morgan Stanley to Offer Clients Exposure to Bitcoin Funds: Report
See Also: Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M

Last week, Vitalik Buterin released a “quick merge via fork choice change” document. While only a loose technical document, the plan ostensibly serves as a notice against any further agitation from Ethereum miners as the merge would allow Ethereum to abandon mining in a rapid fashion.

The Executable Beacon Chain is a proposal to attach Eth 1.x – which we will now refer to as Ethpow (proof-of-work Ethereum) – onto the currently running proof-of-stake Ethereum: the Beacon Chain.

The proposal works by having slightly altered Ethereum software, like Geth or OpenEthereum, point its transaction flow at the Beacon Chain. Instead of miners packaging transactions into blocks, the Beacon Chain’s validators will verify and finalize transactions. A quick merge to PoS would only require “at least one honest miner” in order to start the merge.”

See Also: Ethermine Adds Front-Running Software to Help Miners Offset EIP 1559 Revenue Losses

“Grayscale Investments, the world’s largest digital asset manager, is digging into the world of decentralized finance (DeFi) with five new new trust offerings Wednesday, including Chainlink’s link token, Brave Browser’s brave token and MANA, the money for virtual world Decentraland. The two remaining trusts will offer exposure to decentralized data storage provider Filecoin’s file (FILE) and decentralized video streaming network Livepeer (LPT).

The new trusts are the firm’s first additions since 2019, and come after Grayscale assessed both potential demand and did due diligence on the underlying protocols.”

“We’re trying to do two things; one is enable the purchase of Bitcoin on Visa credentials, and then secondly working with some Bitcoin wallets to allow the Bitcoin to be translated into a fiat currency.

Enabling the instant conversion of the cryptocurrency into fiat would enable some 70 million merchants around the world to accept BTC as a payment method.

See Also: Swiss Crypto Firm Bitcoin Suisse Turned Down on Banking License

“The exact BTC purchase size was not revealed in the document, but with Bitcoin trading between $29,000 and $37,000 in January, Tesla’s $1.5 billion outlay could mean the company holds at least 40,000 BTC.

Taking car sales across the year as a flat average, Tesla sold approximately 1,368 cars per day at a daily profit of $1.98 million. Tesla has made $19 million in unrealized profits per day holding Bitcoin. To achieve this feat in its actual business, the company would have to increase its daily car sales by over 860%.”

“The brainchild of Index Coop, which aims to do for DeFi what S&P and Dow Jones did for stocks, it allows an investor to easily take a leveraged position on ether (ETH) with just one transaction. The cooperative is releasing its first product using its Flexible Leverage Index (FLI), a token called ETH2x-FLI. It will target a value that goes up twice as fast as the second-largest cryptocurrency (and down the same way).

There really isn’t anything like this in terms of getting DeFi leverage in a single token.

Previously, to go extra long on ETH, a user would have to do the following: Deposit a bunch of ETH into Compound. Borrow a bunch of USDC, a stablecoin engineered to hold its value to the U.S. dollar, and swap all that for more ETH. With ETH2x-FLI, a user can get roughly the same exposure with a single transaction. The leveraged position is simply tokenized and traded like any other ERC-20 token.”

“A new bitcoin (BTC) “fear gauge” began trading last week. The T3i BitVol Index from T3 Index, a financial indexing firm, measures the 30-day implied volatility of bitcoin. The index offers cryptocurrency investors the ability to “trade volatility as a distinct asset class.”

Elevated volatility could be a signal of investor fear or uncertainty, while low levels of volatility signal investor complacency. The BitVol index has settled around an annualized 100% after reaching a high near 170% on January 15, which preceded a roughly 20% price correction.

The BitVol Index uses strike prices from tradable bitcoin options across various exchanges, a similar methodology applied by the Chicago Board of Trade’s (CBOE) VIX Index, which investors use to track volatility in the stock market.”

Recently, digital real estate prices have been appreciating more quickly than real-world real estate.

Domino’s has made it so people can buy pizza from a store in the metaverse Decentraland and receive the pizza at their real-world address. Also, this past week, Adidas dropped a collaboration with Karlie Kloss inside Decentraland, where attendees could get a free (virtual) pair of Adidas shoes for their avatar to wear. This corporate-sponsored virtual event was attended by people from all over the world. Companies are realizing that virtual events like these can be much more cost-effective than real-world ones.

Imagine the possibilities if instead of Nike having a store on every Main Street in America it built one jaw-dropping virtual retail experience in a metaverse that could sell to quite literally anybody anywhere at any time? At some point, every company will realize it needs virtual stores in a metaverse like Decentraland, just as they have all learned they must all have a website on the internet.

See Also: Avant-Garde Painting to Be Sold With NFT-Backed Proof of Provenance

Driving data will be uploaded to the Kiri cloud and automatically converted into KiriCoins, which can be later used to purchase products and services in the Kiri marketplace. Drivers with the best “eco:Score” will also receive additional rewards such as vouchers for Amazon, Apple, Netflix, Spotify, and Zalando.

Simply by driving the New 500, connected and equipped with the new infotainment system, KiriCoins can be collected in a ‘virtual’ wallet shown in the Fiat app.”

Crypto.com’s branding will be displayed at center ice starting with the next home game against the Vancouver Canucks on Friday night.

The Canadiens announcement comes days after reports that the FTX crypto exchange is in talks to purchase naming rights to the arena of the NBA’s Miami Heat.”

“Arthur Hayes, founder and former CEO of BitMEX, says he will surrender to U.S. authorities to face charges the cryptocurrency derivatives exchange facilitated unregistered trading and other violations. Under a proposal, Hayes would be allowed release on a $10 million bond secured by $1 million in cash.

Hayes intends to surrender in Hawaii on April 6, where the local FBI office would transport him to the courthouse. He would be allowed to keep his passport and stay at his home in Singapore and have pre-approved travel to the U.S.”

17 March

“The combined company will operate as eToro Group Ltd. and be listed on the Nasdaq.

The eagerly awaited public listing of Coinbase, which may reach a valuation of $100 billion, has been expected to ignite a wave of crypto firms to go public, many of them using SPACs.

Bakkt, the cryptocurrency exchange launched by Intercontinental Exchange (ICE) in 2018, is also expected to carry out a SPAC merger later this year, valuing the combined entity at $2.1 billion.”

See Also: Kraken Considering a Stock Market Debut Next Year: Report

“In a sign of just how dramatically the coronavirus vaccine has altered the market calculus on Wall Street, the fear of soaring inflation has displaced the pandemic as fund managers’ biggest worry. According to the survey, higher-than-expected inflation is now seen as the biggest “tail risk” – an event that’s seen as statistically unlikely but with potentially dramatic consequences.

This implies that global fund managers think vaccination will finally lead us to re-opening and that the extremely loose monetary policy in times of economic recovery is not without risk.

Concerns about rising inflation could boost hedging demand for the store of value assets such as bitcoin and gold, although recently investors have started to wonder whether the Federal Reserve might unwind stimulus as the economy reheats.

The survey shows “long bitcoin,” or a bullish bet on the cryptocurrency, is the second-most crowded trade in the financial market. A crowded trade is one that is extremely popular.”

See Also: How the Federal Reserve Might Try to Calm Inflation Fears This Week
See Also: Nobody Saw Inflation Coming in the 1960s, but It Could Be Back: Economist

Sotheby’s, has announced a partnership that will see the top auction house hold a sale of NFT-based digital art from anonymous artist Pak. The firm will accept cryptocurrencies for the artworks.

There’s a lot here that’s really exciting and, we think, has staying power.”

See Also: Bids for Elon Musk’s Crypto-Themed NFT Pass $1M
See Also: Performers’ Dance Moves Turned Into Animated NFTs for Games and Apps
See Also: Digital NFT Home Goes on Sale in “World First”

“Today, Aztec is proud to launch our rollup service — it’s live on mainnet today. We will gradually introduce new assets such as WBTC, BAT, AAVE, DAI into the rollup over the coming weeks.

Aztec shelters your blockchain transactions from the world’s gaze — giving you bank-grade privacy on open, permissionless financial networks. Our goal at Aztec is to normalised Web3 privacy — just as most Web2 communications are protected by SSL.”

“Before Wall Street goes all-in on bitcoin, Kevin O’Leary said, it needs to know how BTC is being mined. The “Shark Tank” star and chairman of O’Shares ETFs said institutions want to invest in BTC but they have environmental issues. They’re leery, as it were, of operations driven by coal or other climate-unfriendly technology. And they want transparency around origin.

Large companies are bound by sustainability and ESG committees. They have stakeholders and rules and processes to follow. And, these days, environmental impact is a material liability. They need to prove they’re clean.

Bitcoiners may not like it. But “greener” bitcoin may be the price of admission to mainstream markets.

“The 1inch team has released the third iteration of its Aggregation Protocol, a tool that routes trade orders across all decentralized exchanges on Ethereum and, as of recently, Binance Smart Chain.

The V3 release introduces gas optimizations that the team claims make the protocol cheaper than using either Uniswap or 0x directly. In tests conducted by the team, the 1inch V3 aggregator was about 10% cheaper in terms of gas than the same trades done via Uniswap, and about 5% cheaper than on 0x. Compared with 1inch V2, gas costs decreased by up to 30%.

Previously, the tool was mostly useful for wealthy traders for whom slippage was an important factor when trading in decentralized finance.”

16 March

“We now live in a world where a Beeple can produce a virtual image, tokenized into an NFT, and purchased in a virtual auction by a Metakovan for 38,382 ether, settled on the Ethereum network, instantly, securely, all in the cloud, without the need for a legacy bank, or a single dollar.

Everything you will ever own or have ever traded will be tokenized someday in some way. Take art. A token will be generated by a smart contract and permanently linked to the work. Both ownership and authenticity of the art is verifiable. That token can be traded. Ownership can be split, allowing fractional tokenized ownership. When the piece is sold in the future, the artist can earn a portion of the proceeds if that was built into the contract. Anything can be built into these new contracts, embedded into the code, instantly processed, in perpetuity.

The hostile pundits, of course, see manias in all things digital. But throughout human history, not a single bubble ever burst when virtually no one understood what was going on. Rather, that was when the fun had only just begun. And Ethereum, despite almost no one understanding what it is, now races toward becoming the foundation of a rearchitected global financial system.

It is not that they are going to change the world. It is that they are already quietly changing the world, markets, and beneath the surface the process is accelerating faster than you can imagine.”

See Also: Mattereum Asset Passport

As one government official says the planned legislation would completely ban cryptocurrency use, another stresses that is not the case.

As reported by Reuters on Monday, trading, mining, issuance and possession of cryptocurrencies are expected to be criminalized in India under an upcoming legislative bill. The official, who was not named, said the legislation is likely to make it through Prime Minister Narendra Modi’s majority-controlled parliament.

On the same day as the Reuters report, the Deccan Herald, an English-language newspaper in India, cited Minister of Finance and Corporate Affairs Nirmala Sitharaman as saying the government is not planning to completely bar cryptocurrency use.

From our side, we are very clear that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins or cryptocurrency.”

“The survey by Mizuho Securities estimates that 10% of the $380 billion to be issued as checks could be spent on bitcoin and stocks.

Nearly two in five of Americans expecting to receive checks in the coming days anticipated using a portion of them to invest. Bitcoin is expected to account for 60% of the total invested, which could add add as much as 3% to the cryptocurrency’s market value.”

The popular humanoid robot will become the first artificially intelligent being to create nonfungible token-based artworks. The social humanoid robot will hold an NFT auction via the Nifty Gateway platform on Mar. 23. Sophia’s NFTs are reportedly based on the works of artist Andrea Bonaceto.

We fed Andrea’s works into Sophia’s own neural networks, along with many of Sophia’s latest paintings. Subsequently, she generated a powerful series of new images, which she then rendered both digitally and as brush strokes, which she painted with her own hands.”

See Also: Elon Musk Sells Techno Song About NFTs — As An NFT

“Bitcoin (BTC) made a new all-time-high this weekend, but the move was short-lived. The uptrend from January continues to slow, which is probably causing some profit taking. Traders will likely defend lower support.

Initial support is around $54,000 on intra-day charts. On the daily chart, the uptrend remains intact, with lower support around $45,000.”

See Also: Supply chain tokens see triple-digit gains as the global economy recovers

Bitcoin (BTC) retail investors have picked up the slack amid an apparent decline in institutional inflows so far this quarter.

Retail investors have purchased over 187,000 bitcoins so far this quarter, compared to roughly 172,684 by institutional investors. Institutions were heavy buyers in Q4, far outpacing retail investment.”

See Also: Bybit Climbs Past CME to Become Second-Largest Bitcoin Futures Exchange

Self-sovereign ID + UBI

“The internal ConsenSys document provides an interesting view into the restructuring of the sprawling Ethereum studio.

In 2020, ConsenSys split into two companies. ConsenSys AG (rebranded as ConsenSys Mesh) became a home for all the firm’s investments, incubated projects, ongoing software work, R&D and accelerator activities. A new Delaware corporation was also created, the aforementioned CSI, focused on infrastructure, developer tools, fintech and enterprise related services.

The complexity of the original company, ConsenSys AG, made it hard to drum up investment. Some investors wanted to invest in the venture side of the business, others wanted to invest in the software business, but nobody wanted to invest in both, the document said.

The idea of splitting the company in two was not taken lightly, but was well received by potential investors. JPMorgan led a $50 million capital raise, and the bank itself made a strategic $20 million investment in ConsenSys last year. A source within ConsenSys told CoinDesk the next installment of that fundraising is soon to be announced.

As such, ConsenSys is moving from being mainly a consulting and services company towards being one focused on product revenue.

“In Africa, around 350 million adults do not have bank accounts, according to the World Bank.

Devaluation is a problem because if you check the last two years, 20,000 naira doesn’t really have a lot of value now. What if I can actually invest this money somewhere or probably save it somewhere and the value doesn’t go down? Then I can use it for something better. Why not?

In Argentina, another inflationary economy, people are increasingly turning to DAI, a stablecoin backed by the U.S. dollar, after the government imposed restrictions on the amount of dollars citizens could purchase.

Ugochukwu is introducing community cooperatives and credit unions to stablecoins. Through Xend, community savings groups and larger credit unions in Nigeria will have the opportunity to maintain the value of their savings and even earn higher yields by converting their funds to stablecoins.

Xend Finance, which can be accessed via a mobile phone, will enable groups to directly store their funds in stablecoins like USDC without a middleman while earning interest on the funds. The platform is set to officially launch at the end of March.”

Polygon: Ethereum’s Internet Of Blockchains Explained

The Disrupt Weekend

Crypto exchange FTX is in talks with Miami-Dade County in Florida to sponsor the basketball arena that houses the Miami Heat. Should the deal go through, FTX would become the first crypto exchange to sponsor a major professional sports venue in the U.S.

The talks are another sign that crypto is breaking into the mainstream in 2021 amid new price highs, institutional and corporate investment and the growing use of non-fungible tokens (NFTs) in the art world. American Airlines is the current name sponsor for the arena.”

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“Non-Fungible Tokens (NFTs) are becoming the newest fan collectibles and have generated significant press and buzz in the digital space. DC is exploring opportunities to enter the market for the distribution and sale of original DC digital art with NFTs including both new art created specifically for the NFT market, as well as original digital art rendered for DC’s comic book publications.

Please note that the offering for sale of any digital images featuring DC’s intellectual property with or without NFTs, whether rendered for DC’s publications or rendered outside the scope of one’s contractual engagement with DC, is not permitted.”

“A seemingly abandoned NFT cat project from 2017 has now been totally mined. Evidently, there’s still a whole lot of undiscovered booty in Ethereum’s blockchain, which makes it fertile for further excavation.

According to Etherscan, the abandoned MoonCatRescue project dates back to August 9 2017, which according to EThoarder makes it the second oldest NFT on Ethereum after CryptoPunks.

Since the front-end interface of MoonCatRescue.com had long been defunct, dedicated NFT fans had to manually interact with the contract using Etherscan to rescue the cats. In order to make the MoonCats sellable on marketplaces like OpenSea, token rescuers need to wrap their NFTs, for a fee of about $200. A relatively nominal fee in light of the fact that some MoonCats are already being resold for almost $40k”

“Yield Guild Games (YGG), a decentralized autonomous organization (DAO), will use the funds to improve its protocol for distributed investing in the burgeoning NFT scene. As a DAO, YGG pools investor assets for the purpose of betting and then profiting on NFTs, sharing the proceeds with backers. Its focus is on NFTs that intersect with the gaming space.

Just like real estate, virtual economic activities of games will occur in virtual lands.

DAOs have begun speculating on NFTs as the token type explodes in prominence. FlamingoDAO, a competitor in the space, recently spent 605 ETH ($761,889 at purchase) on a CryptoPunk NFT.”

The European Central Bank’s aggressive move this week to expand its “quantitative easing” stimulus program leaves the Fed little choice but to continue its own hyper-expansive policy, even if it wants to end it. While you’ll never hear it from the Fed, it will be concerned about the economic fallout from a strong dollar. This will damp its capacity to tighten policy.

Because of investors’ hyper-sensitivity to even the most subtle changes in policy, central banks’ hands are tied. The slightest signal that the Fed is considering tapering quantitative easing can send markets into paroxysms.

Central banks put their monetary machines into top speed. Now they can’t slow them down. The default, then, is for more of the same.

“According to data from CoinMarketCap, the combined 24-hour volume of major South Korea-based crypto exchanges UPbit, Bithumb, Coinone, and Korbit was more than $14.6 billion on Sunday. On Friday, the same metric was roughly $14.5 billion on the Korea Composite Stock Price Index, or KOSPI, and $10 billion on the Korean Securities Dealers Automated Quotations, or KOSDAQ.”

A number of social tokens, or cryptocurrencies supporting online communities, tanked early Sunday after a reported security breach at Roll.

Tokens like WHALE, RARE and PICA tanked more than 50% during the early European hours, according to data provider CoinGecko. Meanwhile, the RLY token of competing social money platform Rally spiked to all-time highs.”

13 March

Recommended read.

Today marks a big next step in turning on Proof of Stake. A GitHub pull request was just submitted to add PoS consensus driven by the Beacon Chain.

What the Eth2 development community didn’t anticipate was just how quickly Layer 2 solutions like Rollups would advance by 2021. Rollups are now a key part of Ethereum 2.0’s roadmap, which means implementing shard chains can wait. This also means that moving Ethereum off Proof of Work and onto Proof of Stake can happen even sooner.

Today marks a big next step in the development of upgrading Ethereum’s consensus to Proof of Stake. Mikhail submitted a GitHub pull request for Eth2 specification to create a version of the Ethereum Mainnet with PoS consensus driven by the Beacon Chain.

Also today on the Eth2 implementers call, Danny Ryan suggested stripping back the merge proposal in order to get to PoS even quicker. He suggested it, “might exclude validator withdrawals,” leaving that update for 3-4 months later.

As for the overall Eth2 protocol, creating an executable Beacon Chain will greatly reduce the complexity of cross-shard communication and transactions. That now becomes an area of focus for Layer 2 protocols, with some like Polygon already working bridges between multiple EVM compatible networks.

It is no longer a meme that Proof of Stake is coming soon. By accelerating the upgrade of the Proof of Stake consensus mechanism, we are much further on the path to reduce Ethereum’s energy consumption by 99%.”

See Also: Quick merge via fork choice change: Vitalik
See Also: Optimism + scaffold-eth Dapp Starter Pack

Binance is being investigated by the Commodity Futures Trading Commission to determine if U.S. residents traded derivatives on the cryptocurrency exchange in violation of U.S. rules, Bloomberg reported. Binance hasn’t been accused of any wrongdoing and the CFTC may not bring an enforcement action, according to the report.

The news comes a day after Binance announced it has hired Max Baucus, a former U.S. senator and ambassador to China, as a policy adviser who would be able to navigate the exchange’s relationship with U.S. regulators.”

See Also: CZ responds to reports of Binance investigation

“The Fund … will invest principally in the securities of operating companies that have innovative balance sheets … [O]perating companies that directly or indirectly invest in, transact in or otherwise have exposure to bitcoin or operate in the bitcoin ecosystem.

Similarly, last week JPMorgan Chase published a filing that detailed an incoming debt instrument that is linked to cryptocurrency-associated companies such as MicroStrategy, Square, Riot Blockchain and chipmaker Nvidia.

Investment vehicles that give exposure to companies buying bitcoin may help companies that aren’t allowed to add bitcoin to their own balance sheets.”

See Also: Philly t-shirt company allocates $1M of its cash reserves to BTC / ETH

MetaKovan, the pseudonymous founder of non-fungible token (NFT) fund Metapurse, is the proud owner of the Beeple NFT auctioned by Christie’s yesterday for $69.3 million.

MetaKovan paid for Beeple’s “Everydays” in ether, Christie’s confirmed, beating out Tron founder Justin Sun in a last-minute bid. The final sale price was 42,329.453 ETH. Beeple (aka Mike Winkelmann) said, ‘I probably will keep a percentage of [my earnings] in ether.’

The auction house said its website hosted around 22 million visitors for the final moments of bidding on the most expensive NFT ever sold.”

See Also: NFT Mania Fits With ‘Crippling Inflation’ Fear, but Don’t Call It a Bubble
See Also: Atari Partners with DeFi Site Bondly for Gaming NFTs

‘Dynamic NFTs’

Binance Pay now allows businesses to process payments in crypto, online or in-person, via QR codes and a dedicated API. The beta version, which was for peer-to-peer payments only, drew a claimed 250,000 users.

The Pay platform supports more than 30 cryptocurrencies, including bitcoin, ether, dogecoin and BNB, as well as five fiat currencies: the Australian dollar, Brazilian real, euro, U.K. pound and Turkish lira.”

“With this release we’re leaving the Alpha and entering the Beta phase of development. This transition conveys our confidence that the new Golem has grown enough for it to start seeing widespread usage by both requestors seeking to develop and run their decentralized applications on top of Golem and by providers who’d like to earn GLM tokens in exchange for their machines’ computational resources.

The mainnet Golem is now using our recently-migrated, ERC-20-compliant GLM token and we’re utilizing zkSync (Layer 2 payment provider) to keep the transaction costs at manageable levels.”

Although China has banned the trading of cryptocurrencies, blockchain will play a key role in the country’s digital economy under President Xi Jinping, the SCMP reported.

The digital economy is expected to contribute to the country’s GDP and “transform China into a global leader” through the use of artificial intelligence, big data, cloud computing, and blockchain, according to the draft.”

12 March

Exchange-traded fund (ETF) giant WisdomTree has applied to launch a bitcoin ETF, becoming one of many firms to apply for an ETF by filing an S-1 Form with the U.S. Securities and Exchange Commission. WisdomTree intends to list the shares of the ETF on Cboe’s BZX Exchange.

NYDIG applied in February, Valkyrie applied in January, and VanEck applied in December of last year. So far, VanEck has been the only couple to also file a Form 19b-4, kicking off the SEC’s regulatory review process.

Grayscale may soon be in the process of either applying for a new bitcoin ETF or converting Grayscale Bitcoin Trust into an ETF as it seeks to hire nine ETF specialists.”

See Also: Planned ETF Would Invest in Grayscale’s GBTC to Sidestep SEC’s Crypto Reluctance

A piece of digital artwork has sold for a mind-blowing $69.3 million at auction. Storied auction house Christie’s has wrapped its sale of “EVERYDAYS: THE FIRST 5000 DAYS” by crypto artist Beeple.

Ether (ETH) was supported as a payment vehicle in a first for the 255-year-old auction house. At press time, it is unclear if the buyer used fiat or crypto to buy the now-famous Beeple.”

See Also: A St Louis home is being auctioned off as an NFT on Mintable

Bitcoin (BTC) is proving its flexibility as an investment, rising along with tech and social-media stocks when those securities are rallying and still managing to eke out gains when traditional-market investors suddenly go cold on the technology trade.

The secret? Bitcoin’s investment narrative deftly shifted toward its potential use as an inflation hedge as a risk-off mood in recent weeks on Wall Street triggered a retreat from tech stocks and related investments.

Bitcoin enjoys the current macroeconomic environment as it is a hard asset that benefits from rising inflation. It also likes risk-on conditions, which are reflected by rising bond yields.

As of Thursday, bitcoin had gained for seven straight days, its longest winning streak this year, with prices currently around $57,500, just shy of the all-time high above $58,000 reached last month.”

The European Central Bank (ECB) said Thursday it would “significantly” accelerate a plan to buy as much as €1.85 trillion (US$2.2 trillion) of government bonds, addressing concerns that a recent tightening of financial conditions, in the form of rising market yields, might derail the region’s economic recovery.

Market interest rates have increased since the start of the year, which poses a risk to wider financing conditions. The introductory statement now sends a clear signal that PEPP purchases will be increased through Q2.”

“Amid the backdrop of ever-escalating Ethereum fees, the Ethereum Improvement Proposal seeks to replace the network’s existing bidding-based fee market with a fixed price and burn mechanism. However, EIP-1559 — which is scheduled to go live in July, will significantly impact the revenue of miners.

To signal their opposition to the proposal, some Ether miners are now planning a 51-hour show of force for April 1. Miners intend to direct their hash rate to the 1559-opposed pool, Ethermine, for 51 hours.

Part of the risk display here is not to attack the network, it’s to show that force projection is possible.”

Russia’s central bank is planning to showcase a prototype for its ruble-backed digital currency later this year. The prototype would be available for people to “kick its tires,” but won’t support any real money transactions.

Next year, based on that prototype and any additional developments needed, we will start testing it.

The absolute majority of the feedback we got on our report, 83% of it, supported the idea of the digital ruble.”

See Also: Jamaica to Pilot CBDC Later This Year

“The latest injection of capital will go toward doubling BlockFi’s 500-person team by the end of 2021, launching a bitcoin rewards credit card in the second quarter and expanding the focus of its retail products to markets outside the U.S.

Plus, BlockFi wants to add services outside of just crypto. This could include digital securities, but Prince declined to comment further. ‘We are interested in becoming a public company.’

I think that a crypto company or multiple crypto companies have the opportunity to replace traditional banks on a global scale for the primary banking relationship with consumers.”

“Blockchain analytics startup CipherTrace has released its anti-money laundering (AML) tool for cryptocurrency firms, called “CipherTrace Traveler.”

It’s a commercial offering but with an open-source and decentralized component that has involved 150 VASPs working on TRISA technical standards.

There are large financial institutions that need a commercial product to base their business on, as well as many small VASPs and OTC desks that aren’t going to hire a programmer at $10,000 a month to build this stuff.

The next FATF plenary meeting in June will see a review of progress made by countries and VASPs. While travel rule insiders emphasize this is not a hard and fast deadline, some jurisdictions, such as Singapore, already require firms to show a travel rule solution is in place.”

11 March

The financial relief is expected to contribute to ‘temporarily high’ inflation that may occur when most Americans are vaccinated and able to begin traveling and spending the way they did prior to when COVID-19 restrictions were put in place.

Bitcoiners have touted the stimulus as an opportunity for the limited-supply digital asset to shine as a hedge against inflation.”

See Also: US Inflation Rate Accelerates in February, Could Go Higher as Economy Reheats

Bitcoin and ether purchases by companies in Scandinavia and Hong Kong are fueling speculation a wave of non-U.S. corporate treasurers might follow MicroStrategy, Tesla and Square into buying cryptocurrencies, according to a new report by the Norwegian analysis firm Arcane Research.

According to Arcane, the new corporate buyers appear intent on keeping the cryptocurrencies for the long term.

The first wave, initiated by MicroStrategy, started in the U.S., but now the trend shows signs of turning global.”

See Also: Israeli Pension Giant Put $100M Into Grayscale Bitcoin Trust: Report
See Also: Digital Currency Group to Buy Up to $250M of Grayscale Bitcoin Trust Shares

Ethereum co-founder, Vitalik Buterin, believes the network is on the verge of scaling by a factor of 100, predicting the Optimism will release its layer-two solution in the coming weeks.

Speaking on the Tim Ferriss podcast, Buterin noted Eth2’s developers are focused on working toward the chain merge with Ethereum, and are confident that layer-two solutions can support the network until sharding is developed.

If you have rollups, but you do not have sharding, you still have 100X factor scaling [and] the ability for the blockchain to go up to somewhere between 1,000 and 4,000 transactions a second, depending on how complex these transactions are.”

The Dai stablecoin produced by decentralized lending protocol MakerDAO is getting some speed and fee enhancements with its forthcoming upgrade on [Optimisim’s] layer-two.

Currently, Optimism requires a seven day lockup period when withdrawing tokens back to layer-one (Ethereum). The Maker protocol can reduce this lockup period and allow near-instant withdrawals of Dai [and other assets].

With the Bridge, Maker has an opportunity to become the primary off-ramp for Optimism. The scaling solutions provider described it as an “extremely cool and technically elegant solution”.

This is a game changer not only for the Maker protocol, but the Ethereum ecosystem at large as we can finally offer a fast, trustless, decentralized off-ramp for optimistic rollups.”

See Also: Announcing the Optimism Dai Bridge with Fast Withdrawals
See Also: Dash rolls out Ethereum DeFi bridge with staking and yield farming

Contrary to popular opinion, ether’s unlimited coin supply does not disqualify its use case as a store of value. Like bitcoin, ether has a fixed issuance schedule. For every block produced on the network, Ethereum issues two new coins into circulation.

EIP 1559 introduces a base fee for all transactions that is automatically calculated based on network activity and once paid, immediately burned. Depending on the activity of the network, EIP 1559 could burn more ether through base fees than the amount of new ether issued into circulation through miner block rewards. While this is not a guaranteed outcome, it is a highly likely one, judging by the rise of transaction activity on Ethereum.

What’s more, PoS, dubbed Ethereum 2.0, is expected to reduce the issuance rate of ether from roughly 5% to less than 1% per annum. With a near-zero percent increase in the total supply of ether under PoS, there is even greater potential for asset demand to outstrip its growth in supply. In this case, the value of ether would increase over time.

These disinflationary forces on the supply schedule of ether – a fixed issuance schedule, EIP 1559 and Ethereum 2.0 – both current and projected, suggest that, like bitcoin, there could be a case made for its potential as a store-of-value asset.

“Legislation recognizing decentralized autonomous organizations (DAOs) as companies was approved by the Wyoming state senate on Tuesday. The bill now proceeds to a vote in the Wyoming House of Representatives, where it will become law if it is passed unaltered. Wyoming would be the first U.S. state to pass such legislation into law.

This legislation would allow DAOs to set up in Wyoming, adding greater legitimacy to cryptocurrency projects and further enhancing the state’s reputation as a blockchain-friendly jurisdiction for new companies.”

Nine new job postings indicate Grayscale is considering joining the race to win the SEC’s first bitcoin ETF approval. Notably, it would appear that these potential ETFs would not be limited to bitcoin vehicles.

The job postings all refer to Grayscale’s “ETF business,” though the firm does not currently offer any exchange-traded products. Grayscale has previously not applied for an ETF.”

“The New Zealand dollar stablecoin ($NZDs) is issued by Techemynt, a regulated company with ties to crypto hedge fund Techemy Capital. Reserves of the New Zealand dollar backing the stablecoin are to be confirmed by a “leading accounting firm” with reports delivered on a quarterly basis.

Launching today, the cryptocurrency is backed one-to-one by the New Zealand dollar and deployed on the Ethereum blockchain by Blockchain Labs. $NZDs’ code utilizes a framework developed by Coinbase and Circle-founded Centre group.

$NZDs combines the stability and value of the New Zealand Dollar with the intrinsic utility of cryptocurrency to allow arbitrage, remittance, and digital payments.”

Even though the NBA’s terms say “You own the NFT” that’s not exactly true. You don’t own the underlying copyright of the highlight; the NBA does.

That means you can’t use the images to create merchandise. You can’t “commercialize any elements” of the NFT without the “prior written consent” of the NBA. You also can’t modify the image without the NBA’s permission. And you can’t use the image alongside anything the NBA considers offensive or hateful.

If you truly owned your Top Shot NFT the way you own a piece of personal property, the NBA wouldn’t be able to prevent you from doing any of this. But what you have instead of property is a license to do a small handful of things—not quite the same as owning something outright.

The fine print explains that a violation will lead NBA Top Shot to ‘immediately suspend or terminate your user account and/or delete your Moments’ images and descriptions from the App.’ So they won’t quite take it away from you, but they can render it nearly useless.”

10 March

The debt instrument would lean heavily on MicroStrategy, Square and Riot Blockchain stocks. The filing reveals yet another way Wall Street players are looking to give their clients access to the upside of a booming, $1.7 trillion crypto market.

J.P. Morgan Cryptocurrency Exposure Basket, the incoming debt instrument, is long on MicroStrategy (20%) Square (18%), Riot Blockchain (15%) and chipmaker NVIDIA (15%) with positions in 11 companies total.”

See Also: Tesla Bull Ross Gerber’s Firm Adding Crypto Asset Management Through Gemini
See Also: Coinbase Valuation Nears $100B Ahead of March Nasdaq Listing: Bloomberg

The proposed bill would create a working group to evaluate U.S. cryptocurrency regulations with input from the SEC and CFTC. The legislation aims to establish an organized, comprehensive regulatory framework for digital assets in the U.S.

The ultimate goal of the legislation, called the “Eliminate Barriers to Innovation Act of 2021,” would be to clarify when the SEC has jurisdiction over a particular token or cryptocurrency (i.e., when it is a security) and when the CFTC has jurisdiction (i.e., when it’s a commodity).

It brings together both the SEC and CFTC in a formal way, to work through some of the key issues that have impacted legal clarity in the space for years.

Within a year, this group would be required to file a report analyzing current regulations, the impact they have on primary and secondary markets and how the regime impacts the U.S.’ competitive position. The report would also look at how custody, private key management and cybersecurity are currently treated under law, and what future best practices for fraud prevention, investor protection and other issues could look like.”

EIP 1559 has been approved for the London hard fork in July. For those unfamiliar, EIP 1559 is known as “ETH’s burn mechanism” or “Ether’s scarcity engine”. However, this is only one aspect of the EIP—there are other crucial, non-monetary policy benefits that the implementation brings.

  1. Establishes the “Market Rate” for Transaction Inclusion – This creates the possibility to eliminate an entire step in the process of making a transaction: setting the gas price.
  2. Mitigating Miner Extractable Value (MEV) – Miner Extractable Value (MEV) refers to the amount of profit that miners can extract from reordering and censoring transactions on-chain. This is destabilizing for a blockchain. EIP 1559 fixes this instability by burning all ETH fee rewards paid to miners.
  3. Deflationary Pressure on ETH – Ethereum’s monetary policy is ‘Minimum Viable Issuance’. Enough ETH will be issued to ensure sufficient Ethereum security, and no more. EIP1559 is a mechanism that enables Ethereum to reclaim spent ETH, and to reduce the net issuance of Ether as a function of the demand to transact on Ethereum. Under EIP 1559, ETH becomes more scarce, as all transactions on Ethereum burn some amount of ETH. EIP 1559 makes Ethereum more secure.
  4. Links ETH to Ethereum – With EIP 1559, the GDP of Ethereum is formally captured by ETH, and the value of the Ethereum economy is returned back to the hands of the people who are most aligned with its well-being: ETH holders.”

Less than a quarter into 2021, we are already seeing big, Asia-based companies building the infrastructure for institutional investors to jump into the crypto market.

Huobi Asset Management just announced that the Hong Kong Securities and Futures Commission(SFC) has granted it a license to manage “portfolios that invest in virtual assets.” To comply, Huobi must submit to being a regulated asset manager. With that regulatory approval, Huobi Asset Management plans to launch a BTC tracker fund, an ETH tracker fund and a multi-strategy digital asset fund.

It will serve as a necessary on-ramp for traditional investors in Asia looking for exposure to a regulated, actively managed crypto fund.”

“The institutional appetite for decentralized finance (DeFi) is being extended to incorporate the frothy world of non-fungible tokens (NFTs). Announced Tuesday, custody and wallet technology firm Trustology is providing support for Ethereum-based NFTs, with a view to allowing institutional investors to use these tokens as collateral, for example, within the DeFi space.

Trustology, which was recently granted temporary Financial Conduct Authority registration, offers a range of automated transaction security controls such as co-signing, allow-lists and DeFi firewall rules.”

See Also: Muhammad Ali NFT Minted 50 Years After ‘Fight of the Century’ With Joe Frazier

A dark twist on NFTs: a denial-of-service zero-day attack sold with full rights of ownership transferred to the successful bidder. The listing, on the OpenSea NFT marketplace, advertised the token as a ‘post-authentication memory corruption vulnerability in ioquake3 engine. The issue can be exploited to cause a denial-of-service condition.’

A proof-of-concept exploit is redeemed with this NFT, which contains an overview of the vulnerability and can be used to reliably trigger the issue on networked game servers.

If someone wishes to buy it and disclose it to the project and claim credit for the finding, they can, or they may wish to keep it a secret and trade it with others in the future. Once sold, the item is theirs to do with as they see fit.

Zero-day exploits are valuable in the context of bug bounty programs (with one fetching US$2 million) but they’re also valuable in underground marketplaces. OpenSea took down the auction and listing after it was posted yesterday. Hickey called that move “digital censorship of a content creator.”

Apartner at law firm Anderson Kill, said that if somebody were to use an NFT of an exploit to gain access to someone else’s computer system in the United States, it would probably be a violation of the Computer Fraud and Abuse Act. However, the act of selling that NFT is more a question of ethics. ‘Publishing an exploit without remuneration is probably protected by the First Amendment.'”

See Also: DODO DEX Drained of $3.8M in DeFi Exploit

“Minds, an increasingly decentralized social network powered by Ethereum, provides an alternative to traditional social media platforms. What’s more, Minds incentivizes users with cryptocurrency rewards.

Its users will soon be able earn MINDS token rewards by pooling cryptocurrency [via Uniswap] for liquidity. On top of that, the Uniswap integration implements a new feature called “ad mining,” in which users who contribute liquidity can earn a spot on a digital billboard within the Minds app. The billboard will advertise those users’ respective channels.

Minds will always put the best interests of its users first and champion free speech, privacy, and the value of open-source software. To that end, we worked with great Ethereum minds to build a fair crypto-contribution economy structured around a social network that rewards, rather than punishes, users for sharing ideas and engaging in civil discourse and generating popular content.”

See Also: Minds.com
See Also: BlockTower Capital Launches $25M Fund to Invest in DeFi Projects

“A new Bitcoin-facing startup, Moon, just launched a way for its users to buy everyday goods and services using the Lightning Network at any Visa-enabled e-commerce site based in the U.S. The Moon browser extension’s latest feature allows its users to pay for purchases using a Visa prepaid card which they purchase on the extension using Bitcoin’s Lightning Network. These cards can only be used once and have no fees.

Since the vast majority of merchants don’t accept Bitcoin payments, sending payments over the Visa network is the best option due to its ubiquity.”

See Also: Major Swiss retailers set to debut Bitcoin gift cards

Statemint is the first proposed common-good parachain for the Polkadot network, Parity Technologies announced Tuesday. A common-good parachain is a parachain that’s granted slots via governance as opposed to the auction mechanism that underlies Polkadot.

As a generic asset chain, Statemint would allow anyone to deploy an asset on the network as long as they put up collateral in the form of DOT.

Statemint will allow diverse entities, ranging from artists issuing tokens for their work to central banks issuing Central Bank Digital Currencies, to deploy their assets to the Polkadot network.”

9 March

Swiss fintech firm Taurus Group has integrated the decentralized finance (DeFi) Aave Protocol into its asset infrastructure, allowing banks and exchanges to deposit and borrow digital assets.

DeFi provides transparent, efficient and cost-effective solutions for banks to deploy their capital more effectively. We are excited to work with Taurus, who’s a leader in onboarding banks to DeFi through its secure custodian and smart contracts platforms.”

See Also: JPMorgan Posts 34 Blockchain Jobs as It Beefs Up JPM Coin

Incumbent banks – like Goldman – could face pressure to increase their crypto business lines, with one obvious path being mergers and acquisitions.

This is a fast-evolving landscape where the crypto incumbents have certainly made huge progress over the last couple of years. There is an expectation from clients now that the incumbent banks will develop their offerings to satisfy that demand. And so, certainly anticipate a certain amount of consolidation across that space.”

See Also: Soros, Morgan Stanley Join $200M Investment in Bitcoin Firm NYDIG
See Also: PayPal Confirms It’s Buying Crypto Security Firm Curv
See Also: Bitcoin’s 2021 Returns Destroy Everything on Wall Street, Goldman Sachs Says

“Oslo stock exchange-listed Aker ASA has set up a new company dedicated to investing in bitcoin projects and companies. Seetee AS, will keep all its liquid investable assets in bitcoin and will also enter the bitcoin mining industry.

First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers.”

See Also: Is ETH Coming to Corporate Balance Sheets?

The ETF is expected to begin trading on the Toronto Stock Exchange (TSX) on Tuesday under the ticker “BTCX.” BTCX will give investors exposure to bitcoin by investing directly in the cryptocurrency with holdings priced using the Bloomberg Galaxy Bitcoin Index.

In February, similar products from Evolve Funds Group and Purpose Investment both listed on the TSX.”

See Also: 21Shares to List Ethereum, Bitcoin Cash ETPs on Deutsche Boerse’s Xetra

The Atari-branded casino will be built in “Vegas City” – a gaming district in Ethereum-based Decentraland‘s metaverse and will be leased on an initial two-year term.

The new casino, based on Decentral Games’ tech, will feature Atari-themed games including an Atari Special game based on skill rather than luck. Players will be able to earn Decentral Games’ native token ($DG) by playing with MANA, DAI and Atari tokens.”

See Also: Decentralized esports tournament series looks to bring traditional gamers to crypto

“Nine Chronicles, a fantasy role-playing game developed by startup Planetarium and backed by major publisher Ubisoft, offers the ability to freely mod and transform the game and publish it as a separate “fork” independent from the original experience.

Today, Planetarium announced that Nine Chronicles is now fully open source, letting users go wild with all of the code and assets to develop their own distinctive takes on the game. And to encourage just that, the Seoul-based studio has established a $2.5 million grant fund to reward top creators. All content in the PC game, from the artwork to the code, can be used by the community to create their own experiences, whether they are similar to the core Nine Chronicles game or significantly different in approach.

There have been open-source games before Nine Chronicles, but not many with an in-game economy to reward the contributors of the ecosystem. Many creators contribute hundreds of hours to their passion projects, yet do not reap the benefit when their creation becomes successful.”

“The investment comes as StakeWise approaches its mainnet release after a seven-month beta testing period with 1,400 participants.

We’ve made StakeWise into a protocol where users can earn elevated yields and gain unparalleled control over their staked capital.”

See Also: Automata Network Launches With $1M in Funding to Help Keep Dapps Private
See Also: FD7 Ventures Acquires Stake in Provider of Canada’s First Crypto Credit Card

“A 44-page report commissioned by CPA Australia delves into the status of central bank digital currency development worldwide, while exploring viable blockchain candidates for hosting CBDCs in the coming years.

Bitcoin’s decentralized network and lack of oversight by banks or governments make it generally unsuitable for use in a national CBDC network, notes the report. Ethereum suffers from many of the same pitfalls as Bitcoin when it comes to hosting CBDCs, according to the report. Despite allowing for “programmable money” through the use of smart contracts, Ethereum’s decentralization and inability to be controlled by any state actor make it an unlikely candidate for hosting CBDCs.

Running contrary to Ethereum’s perceived inadequacy for use in government systems, the Reserve Bank of Australia used Ethereum-based technology in November 2020 when it sought to develop a proof-of-concept for a tokenized CBDC.

The Ripple Network and the XRP coin are looked on more favorably by banks and governments due to their centralized nature. The report claims that the centralized nature of Ripple’s operations makes it similar to central banks, due to how developers can control the “timing and quantity of supply” of its associated tokens.”

See Also: Ripple, MoneyGram to ‘Wind Down’ Partnership

“Fast food chain Taco Bell has just sold its first batch of Taco-themed digital collectibles on NFT marketplace Rarible—and they were snapped up in a flash.

Our Spicy Potato Soft Tacos can now live in your hearts, stomachs and digital wallets.”

See Also: UFC announces regional partnerships with top crypto-only sportsbook