“The Ethereum blockchain is often conceptualized as a shared world computer. This computer is agnostic about what happens on it. Ethereum says we are just the infrastructure and how you organize yourselves is up to you.
But to be the neutral infrastructure is deeply political because it expands Ethereum from an economics experiment, like Bitcoin, into an experiment in public goods provisioning. Providing and maintaining infrastructure is central to the Ethereum mind-set, to the Ethereum cryptoculture.
Ethereum is not in the business of confronting the state, but I do believe it proposes a version of latent minarchism where it provides better infrastructure than the state can. These services would slowly replace their centralized analogues in the traditional world. They cover the broad areas of community well: organizational (decentralized autonomous organizations, or DAOs), financial (decentralized finance, or DeFi), cultural (non-fungible tokens/social tokens).”
“At the moment, cryptocurrency markets are a long way from supporting anything close to the $6 trillion-plus a day that changes hands every day in traditional foreign exchange.
But glimpses of recent growth in euro-backed stablecoins have some token issuers thinking of a future where digital versions of national currencies easily flow on blockchain-based markets between cryptocurrency exchanges and the fast-developing trading and lending platforms of decentralized finance (DeFi).
Forex is by far the largest financial market in the world, according to Investopedia, where trades take place on an over-the-counter (OTC) marketplace. It is also considered more opaque than other traditional financial markets, and large institutions tend to play a significant role in determining prices.
One of my biggest hopes for the crypto market is to disintermediate this forex market going forward because it’s one of the most untransparent and shady markets left in the whole financial market space.
I think once the EUR-denominated DeFi springs up, there’ll be a lot of people looking towards automation to take advantage of the forex opportunities.”
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“After many months of hard work and collaboration between Chainlink, Optimism and Synthetix we are extremely excited to announce exchanges on OΞ will be enabled the week of July 26th, with a final deployment date pending Spartan Council approval.
The initial Synths supported will be sETH, sBTC and sLINK. Once the initial group of Synths are deployed the path to expanding the number of Synths and functionality will open, this includes a MUCH wider range of assets, with natural shorts on all Synths and soon Synthetic Futures.”
“Osprey is part of a crop of new bitcoin funds aimed squarely at the market-leading GBTC before a bitcoin exchange-traded fund (ETF) is approved by the SEC. This includes offerings from Bitwise Asset Management, BlockFi and CrossTower that look to give traditional investors exposure to bitcoin without having to touch the asset itself.
The Osprey registration would increase transparency and liquidity for the trust, requiring it to file audited financial statements with the SEC. It would also reduce the holding period for OBTC shares from 12 months to six months, putting it on par with GBTC.
OBTC boasts a 0.49% management fee compared to GBTC’s 2% annual fee, but the Osprey fund also has 0.3% in other expenses from services such as crypto custody.”
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“The game blew up toward the end of June, and now boasts more than 250,000 daily active players. The most expensive Axie ever sold came to 300 ETH, or about $633,000 in today’s prices.
The game rewards players with governance rights for their in-game questing and AXS HODLing. Axie Infinity’s AXS token rose by 45% overnight, hitting an all-time high price of $18.34.”
“The new guidelines on the social video posting site will specifically inhibit users from posting promotional content about financial products, regardless of the poster’s geographic location. TikTok was a hotbed for Dogecoin (DOGE) hype in 2020, when users shared related videos in an effort to get more folks to jump on the bandwagon.
My interpretation of this is [TikTok] are clamping down on directly or indirectly sponsored content which leads to an affiliate link, for example to sign up to a trading platform and get free stocks.”