Lately, volatility surrounding the consumer price index (CPI), NFP and other macro events seems to have settled down, while regulatory clarity around crypto, a potential spot ETF approval and the XRP resolution is becoming a key focus; this paradigm shift could lead the market towards higher beta “altcoins” in the crypto space. Original
Bitcoin spot ETFs could increase BTC demand to the tune of $30 billion, according to a report by NYDIG. The crypto trading firm estimates that there are $27.6 billion in spot-like products, compared with $210 billion invested in funds for gold, to which bitcoin is often compared. “Bitcoin is about 3.6x more volatile than gold, meaning that on a volatility equivalent basis, investors would require 3.6x less bitcoin than gold on a dollar basis to get as much risk exposure. Still, that would result in nearly $30B of incremental demand…
Mirela Spasova, a Reddit senior engineer on the Collectible Avatars project, took to the master stage at the Ethereum Community Conference (EthCC) event in Paris to shed light on Reddit’s strategy for onboarding millions of users to its blockchain-backed digital collectibles. In her presentation, Spasova said that the primary motivation behind running Collectible Avatars on-chain is to empower users with freedom of use. By adopting an on-chain approach, users gain the ability to make their own choices, including the option to resell the avatars on popular non-fungible token (NFT) marketplaces like…
Announced at Comic-Con, “FORTUN3,” which premieres this fall, will serve as a kind of origin story for SBF and FTX – the products of an easy-money culture mixed with unbridled tech optimism, explains John Attanasio, co-founder and CEO of Toonstar. Besides the FTX parody, viewers can expect references to other business boondoggles driven by egomaniacs with a messiah complex (think: Theranos and WeWork). T.J. Miller of “Silicon Valley” fame will voice the SBF clone. Source
A sandbox provides a secure setting in which developers can test and evaluate their products in the knowledge that any unintended side effects will be isolated from a live environment. The FCA’s offering can be configured to support a number of distributed ledgers and digital-asset use cases, like building interoperability between networks, according to a person familiar with the project. Source
The United Kingdom government has rejected a proposal made by the House of Commons Treasury Committee to regulate crypto retail trading in the same way it oversees gambling, highlighting that it “firmly disagrees” with the committee’s stance. A panel of British lawmakers called for regulating the U.K. crypto market similar to gambling in a May 17 committee report. The Treasury Committee said that crypto investment activity is consistent with the principle of “same risk, same regulatory outcome.” In a July 20 response to the committee, U.K. Economic Secretary to the Treasury Andrew Griffith…
An executive from venture capital firm Andreessen Horowitz (a16z) believes that Web3 has the solutions to the headaches and problems found on Web2-based social media platforms. During a keynote speech at the Ethereum Community Conference (EthCC), a16z partner Sriram Krishnan shared a presentation explaining how Web3 can fix social media and consumer applications. Krishnan stressed that “the world of social media is stuck in a different era, and things need to change.” The executive said that his goal in the presentation was to convince the audience that “now is the…
Digital currency investment product, Grayscale Bitcoin Trust (GBTC), was one of the best performers at Cathie Wood’s ARK Invest in the second quarter of 2023. According to ARK’s latest quarterly ETF report published on July 19, GBTC was one of the top contributors to the success of its ARK Next Generation Internet exchange-traded fund (ARKW) in Q2. According to the data, GBTC was one of the top five drivers of ARKW’s growth of more than 9% in Q2, alongside other top performers like Tesla, Shopify, Unity Software and Draftkings. Ranked…
The share of bitcoin trade volume on Japanese exchanges rose from 69% to 80% in the first six months of the year, data tracked by Kaiko show Original
The CCIP protocol is designed to help build cross-chain applications and services and went live for early access users on the Avalanche, Ethereum, Optimism and Polygon blockchains this week. Source AddChainlinksClimbsHoldingsLinkProtocolReleaseWhales CryptoX Portal