19 February

“Dan Morehead, CEO and founder of leading blockchain venture fund Pantera Capital, stated that digital assets will be the “best place” to store capital following the potential fallout of interest rate hikes.

Bitcoin and crypto markets have often moved in correlation to trends in the stock market; however, Morehead argued in his Wednesday newsletter that bonds, stocks and real estate will cop the brunt of the Fed‘s “massive policy U-turn” in relation to hiking interest rates.

I think our markets will decouple soon. Investors are going to think: bonds are going to get crushed as the Fed goes from the only buyer on Earth to seller. Rising rates will make equities and real estate less attractive.

So, where does one invest when both stocks and bonds are falling? Blockchain is a very legit place to invest in that world.”

See Also: Bitcoin and Altcoins Dip Amid Russia, Ukraine Uncertainty

The Canadian government’s efforts to choke off the flow of funds to protesting truckers in Canada illustrate why cryptocurrencies exist, Ethereum founder VItalik Buterin said. He described the government’s response as heavy-handed, and crypto as a potential check on such overreach.

If the government is not willing to follow the laws … [and] give people a chance to defend themselves…and they just want to talk to the banks and basically cut out people’s financial livelihoods without due process, that is an example of the sort of thing that decentralized technology is there to make more difficult.

In this way, crypto is not so much a radical technology as a restorative one. ‘It’s not about being lawless. In some ways, it’s about bringing rule of law back.’

This week, Prime Minister Justin Trudeau’s government invoked rarely used emergency powers in an effort to quash the protests. Banks and other financial service providers were authorized to freeze or suspend accounts associated with the trucker convoy without a court order and were shielded from civil liability for doing so.”

See Also: Crypto community condemns Canada for freezing dissidents’ Bitcoin wallets
See Also: Court Orders Freeze of Canadian ‘Freedom Convoy’ Crypto Fundraising

“Lobby3 will prioritize and propose new policy, and aggregate new ideas that need to be top of mind for our leaders.

Participation in the DAO includes ‘community votes, roundtable discussions with policy leaders and exclusive events geared toward building a new community for the Web 3 ecosystem.’

Membership to Lobby3 is achieved via the purchase of general membership tokens, which are available in three tiers ranging in price from 0.07 ETH (about $210 at current prices) to 40 ETH ($1,200). Level 1 offers basic access to the community, while the third, invite-only level offers one-on-one access to Yang and the Lobby3 team.”

See Also: DAO Framework Builder Moloch Launches V3 at ETHDenver
See Also: Syndicate protocol helps create 450 new DAOs in just three weeks

“Gary Gensler, chair of the U.S. Securities and Exchange Commission, has responded to a letter from lawmakers calling the regulator denying approval of Bitcoin spot exchange-traded funds “unacceptable.”

In a Tuesday letter from Gensler addressed to Minnesota Representative Tom Emmer, the SEC chair hinted that the regulatory body was no closer to approving a Bitcoin (BTC) spot ETF in the United States capable of preventing “fraudulent and manipulative acts and practices” by the standards of the Exchange Act. Gensler reiterated his stance of being technology-neutral, but that he would give “careful consideration” to the concerns Emmer raised in November.

See Also: Biden expected to issue executive order on crypto and CBDCs next week: Report

“Bit2Me, a leading Spanish crypto exchange, has obtained approval from the Bank of Spain to be the ‘first provider of services for the exchange of virtual currency for fiat currency and the custody of digital wallets.’

Bit2Me now will be able to provide Spanish-based banks with a white-label service allowing crypto trading on their platforms, adding that it is currently in negotiations with several banks.”

See Also: UAE to Issue Crypto Licenses in Bid to Become Industry Hub: Report

With Interchain Accounts, one blockchain can access the application features of another blockchain, such as staking, voting, swapping tokens, etc. For example, Solana users can interact with protocols in Polygon directly from their Phantom wallets without switching wallets or networks.

Enabling composability in IBC allows innovation in distinct applications to be deployed without needing to upgrade the entire Interchain.”

“Circle, the backer of the USDC stablecoin, said it plans to go public in a deal that values it at $9 billion, twice the level it originally agreed to in July. The company negotiated a new deal with special purpose acquisition company (SPAC) Concord Acquisition Corp., reflecting improvements in its financial outlook and competitive position

The holding company set up in the original pact will acquire both Concord and Circle to form a new publicly traded business listed on the New York Stock Exchange under CRCL.”

“Quantum key distribution (QKD) utilizes quantum mechanics and cryptography to enable two parties to exchange secure data and detect and defend against third parties attempting to eavesdrop on the exchange.

The technology is seen as a viable defense against potential blockchain hacks that could be conducted by quantum computers in the future. JPMorgan collaborated with Toshiba and Ciena to deploy and test the QKD blockchain.

At this time, QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack, with security guarantees based on the laws of quantum physics.

This work comes at an important time as we continue to prepare for the introduction of production-quality quantum computers, which will change the security landscape of technologies like blockchain and cryptocurrency.”