27 May

“Prior to the U.S. election in November 2020, I opined that the regulatory risk to bitcoin was already lower than the regulatory risk to the giants of the Nasdaq. Public opinion had already turned against these titans of the data industry, fueled by concerns about election tampering and manipulation. Terms like “surveillance capitalism” entered the vernacular.

Congress was increasing its scrutiny of the industry as the public realized that these companies swindle us. Suffice it to say that the uphill regulatory path for the elite members of the Nasdaq has steepened further, which makes it less likely that they will repeat the 10x return in this decade that they achieved in the last one.

Because of inflationary drivers, smart analysts of the 2020s have drawn comparisons to both the 1940s and the 1970s. Both were periods of high consumer price inflation in which consumer price inflation significantly outstripped interest rates, which helped the economy manage its debt.

In the 1940s, gold ownership for investment purposes was prohibited. That didn’t stop many Americans from owning it and protecting their purchasing power. In the 1970s, gold was the single best-performing major asset. Gold investors made approximately 30% annualized. By contrast, stocks returned just 5% annualized.

This brings us to digital gold, aka bitcoin. With roughly $600 billion of total network value, bitcoin has approximately the value (in nominal terms) of the sum total of the top seven members of the Nasdaq a decade ago. And bitcoin could easily accrue another $10 trillion of value this decade like those companies did in the prior one.

The Nasdaq had a great run last decade. Recent price action suggests that may be ending. Bitcoin’s price has also had a rough ride recently. But given that bitcoin is the hardest monetary asset ever invented, and the forces of inflation seem likely to endure, I expect bitcoin to be the must-own asset of the 2020s.”

MXNT is Tether’s first foray into Latin America and joins the company’s other pegged coins — USDT (U.S. dollar), EURT (euro) and CNHT (China’s yuan). The token will initially be supported in the Ethereum, Tron and Polyong blockchains.

The company bills this effort as a “testing ground” in Latin America that it expects will “pave the way” for more fiat-pegged tokens in the region.

We have seen a rise in cryptocurrency usage in Latin America over the last year that has made it apparent that we need to expand our offerings.

Mexico is “a prime location for the next Latin American crypto hub,” said Tether, noting a report from Triple A stating that 40% of Mexican companies are interested in adopting blockchain and crypto in some way.”

See Also: ‘Other flavors of Tether’ will bridge users to USDT: Paolo Ardoino

“MetaMask can now help victims of crypto scams and phishing attacks recover their lost assets – or at least try to.

London-based Asset Reality, a specialist when it comes to investigating and recovering stolen crypto assets, will act as a case handler and help MetaMask users around the globe build an investigation in the event they fall victim to fraud.

Partnering with Asset Reality gives users a way to start an investigation to try and track down their stolen funds and possibly lead to a recovery down the line.

Once a MetaMask user makes a report, Asset Reality carries out an initial investigation involving some blockchain analytics, which provides the user an understanding of what has happened. The recovery firm also acts as an expert witness if the user wants to be connected with a lawyer or get together into a larger class action.”

A well-designed central bank digital currency could complement stablecoins and cash, Brainard will say in front of the House Committee on Financial Services on Thursday.

CBDC could coexist with and be complementary to stablecoins and commercial bank money by providing a safe central bank liability in the digital financial ecosystem, much like cash currently coexists with commercial bank money.

Brainard also addressed the capabilities of a CBDC to facilitate global payments, and how the U.S. can serve as an example in digital finance with ‘privacy, accessibility, interoperability, and security.'”

See Also: US Fed Vice Chair Says Digital Dollar Would Take 5 Years to Launch
See Also: Ark 21Shares Backers Take Another Shot at Spot Bitcoin ETF Approval

DeFi insurance protocol InsurAce has already processed nearly all 173 submitted claims and will pay out $11 million.

On May 13, InsurAce caused a stir when it announced it had shortened the claims window for those with cover related to Anchor (ANC), Mirror (MIR), and stablecoin Terra USD (UST) following the collapse of the Terra layer-1 blockchain.

We want the best for everyone here, but if this were traditional insurance, people would be stuck in litigation for months or years.”

See Also: Crypto Exchanges Including Binance, FTX To Support ‘Terra 2.0’ Relaunch