22 March

“Last week, Ethereum developers successfully tested the long-awaited merge of the programmable blockchain’s proof-of-work and proof-of-stake chains, dubbed Eth 2.0, which will allow users to hold coins in a cryptocurrency wallet to support network operations in return for newly minted coins. Thus, staking is analogous to passive investing.

According to Kruger, ether staking yields are likely to be in the range of 10% to 15%. Blockchain analytics firm IntoTheBlock expects the yields to be higher than the U.S. consumer price index, which stood at a four-decade high of 7.9% in February. Most traditional investments are currently yielding negative returns when adjusted for inflation. In crypto, the popular bitcoin cash and carry trade now yields -4.9% in real terms.

Through the merge with the proof-of-stake chain, fees previously earned by miners will pass on to being earned by those staking. I am very bullish on ether for the summer as ether staking would offer returns better than real or inflation-adjusted yields in traditional markets after the merge.

With the merge test run completed successfully, researchers expect the mainnet launch to happen by the end of June. Observers foresee increased institutional adoption once the Eth 2.0 upgrade is complete.

Estimates for post-merge yield are at 10% and above. Plus, moving to proof-of-stake means it’s easier for institutions to adopt it since they don’t need to defend the energy consumption associated with bitcoin and proof-of-work coins. [The merge will] reduce energy consumption by 99.95% and eliminate a carbon footprint the size of Finland.

Lastly, the merge is likely to make ether a deflationary, or store-of-value asset.

Following the merge, the amount of ETH issued is projected to drop by 90%.”

“This marks the first OTC crypto transaction by a major bank in the U.S. as Goldman Sachs continues expanding its cryptocurrency offerings, demonstrating the continued maturation and adoption of digital assets by banking institutions.

Last June, Galaxy announced that it would serve as Goldman’s liquidity provider for bitcoin futures block trades on the CME exchange. Earlier this month, Goldman was offering interested clients access to an ether (ETH) fund issued by Galaxy. Galaxy founder and CEO Michael Novogratz worked at Goldman for 11 years.”

See Also: Ray Dalio’s Bridgewater Investing in Crypto Fund: Sources

“Dave (DAVE), a publicly traded banking app, has made a strategic partnership with FTX US. FTX US and Dave are currently exploring how to introduce digital asset payments onto Dave’s platform.

Dave, which counts billionaire Mark Cuban among its backers, went public in January through a $4 billion merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III.”

See Also: Gemini receives license to provide electronic money services in Ireland

Deputy Minister of Communications and Multimedia Zahidi Zainul on Monday said the Southeast Asian country should recognize Bitcoin and other crypto assets as legal tender.

Malaysia’s government hasn’t given many signs that it’s considering an El Salvador-style leap into crypto. Like many other countries, it is researching a central bank digital currency. It’s been over six months since El Salvador became the first country in the world to recognize Bitcoin as legal tender.”

“According to the proposer and a member of the SushiSwap community, Tangle, the intended foundation will play a key role in limiting the liability for contributors and, as a result, drive Sushi’s future growth. Considering the possibility of risk mitigation and liability limitation via legal clarity for holders and contributors, the proposal received a 100% vote for the implementation of the legal structure.

It’s definitely a must, it’s really the time for Sushi to update itself and to have a legal shield ready for all contributors.

There are several jurisdictions which can be contemplated for forming a DAO entity, but Swiss Association law is currently the leading solution.”

“Crypto mining comes in many shapes and sizes, from mega mines under the blazing Texas sun to small facilities nestled in Italy’s snowy Alps. Reporters traveled across Europe, Asia and North America to capture the diversity of crypto mining farms.

Mining is a little understood industry, in large part because miners tend to be extremely secretive. Security concerns coupled with regulatory uncertainty have made this industry wary of the limelight.”