#1. Gemini CEO: "Bitcoin ETF will be approved in the US in early 2022"
David Abner, head of business development at Gemini exchange, suggested that the launch of a Bitcoin ETF in the United States could be approved in early 2022, after the development of cryptocurrency regulation. David Abner announced this in an interview with CNBC. In his opinion, by allowing ProShares and Valkyrie to launch ETFs on Bitcoin futures, the US Securities and Exchange Commission (SEC) made it clear that it considers cryptocurrencies to be an asset class. Abner hoped that crypto ETFs would appear in the country later this year, so he was very surprised when the agency rejected VanEck 's application to launch an exchange-traded fund with direct investment in bitcoin. “I am still optimistic. I think the SEC is just biding its time to take the next step. The agency is thinking over more detailed and specific regulatory requirements for regulating the cryptocurrency industry. It is possible that they will be presented as early as the first quarter of 2022, after which the foundation will be laid for the launch of ETFs for cryptocurrencies. I think there is already little movement in this direction, ”Abner said. However, ETF Trends CEO Tom Lydon isn't sure this will happen that quickly. He noted that for the average asset management firm, the inability to invest in Bitcoin or crypto ETF through a brokerage platform is a strong deterrent. This encourages investors to register on cryptocurrency exchanges where they are exposed to even greater risk of volatility. Many experts, including Bloomberg analyst Mike McGlone , expect bitcoin to rise to $ 100,000 next year. Lydon believes that the growing demand for bitcoin will be a "catalyst" for the launch of bitcoin ETFs. “I think that sooner or later investors will insist on their own, and cryptocurrency ETFs will appear in the United States. I would like this to happen in the first quarter. But, most likely, we will “cross our fingers” only by the end of next year, ”added Lydon. MicroStrategy CEO Michael Saylor recently suggested that Bitcoin ETFs are much more profitable than "futures" ETFs. If this new investment product is launched in the US, trillions of dollars will flow into it, Sailor said.
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#2. DappRadar will launch its own RADAR token
Analytical service DappRadar announced a "restructuring" to the Dapp Store and plans to launch its own RADAR token. According to DappRadar, the token will participate in the process of managing the store of decentralized applications and its holders will be able to make decisions on the development of the ecosystem. DappRadar co-founder and CEO Skirmantas Januškas emphasized: “We built DappRadar around decentralized applications. Decentralization is the core of our success, and now is the time to go to the next level, to make DappRadar truly decentralized. We will make the community even more cohesive and lay the foundation for the ecosystem to thrive for years to come. ” A decentralized app store will allow DappRadar to provide users with a choice of the highest quality and proven apps. At the same time, unlike centralized app stores, the company does not plan to charge a commission. Now the platform has 8,300 applications on 27 blockchains, and in the future the company plans to add support for new networks. In early November, the Ethereum Name Service (ENS) -based domain names project announced the launch of a governance token .
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#3. Anthony Scaramucci: "Black Friday gave everyone the opportunity to buy cryptocurrencies"
both the stock markets and the cryptocurrency industry showed declines. But SkyBridge Capital founder Anthony Scaramucci believes this is a chance to buy cryptocurrencies. The bitcoin rate fell below $ 54,000, and at the time of publication, the first cryptocurrency shows no attempts at a large-scale recovery. However, Anthony Scaramucci said in an interview with CNBC that nothing has fundamentally changed. "Black Friday", according to the investor, gave an excellent chance to buy cryptocurrencies at a reduced price. “If you, like us, rely on fundamentals, then now is the time to buy. There are practically no risks. Bitcoin and other cryptocurrencies have always been volatile, which takes people out of the game and reduces the amount of margin positions. I think this is the groundwork for an excellent first quarter of next year, "- said Scaramucci. The founder of Sky Bridge Capital also noted that the reaction of the cryptocurrency market seemed very healthy to him. He called it "healing bloodletting" during a crisis. Interestingly, Scaramucci does not consider Bitcoin to be a defensive asset to hedge inflation risks: “I think in the long run, he can be such an asset. Especially if you have billions of dollars in inventory. But now bitcoin is more like Amazon stock in 2000, it is very volatile. " Anthony Scaramucci said earlier that even at $ 60,000, bitcoin looks attractive. He believes that in the medium term, the rate of the first cryptocurrency could reach $ 500,000.
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#4. The developers of the "token-meme" SDOG on the Avalanche network brought down the price of the token
The creators of the SnowdogDAO project, the first "meme token" in the Avalanche blockchain, brought down the token rate by 90% and withdrew most of the funds. The developers initially emphasized that SnowdogDAO is an experiment that will last 8 days. They stated that users can buy and trade tokens, participate in "extremely profitable staking" for several days, and upon completion of the experiment, all tokens will be redeemed. The "experiment" attracted a lot of attention and the capitalization of the token exceeded $ 44 million. However, after the completion of the experiment, the massive buyback did not take place. As it turned out, the developers were planning to buy back only 7% of the tokens at a price higher than the sale. When users found out about this, the SnowdogDAO team created their own pool based on the Uniswap V2 decentralized exchange and transferred liquidity for the token from the Trader Joe platform, a popular decentralized exchange for the Avalanche network. Community members believe that the developers used their project for enrichment. They could manage their own pool on Uniswap as they liked. The owner of one of the wallets bought $ 180,000 worth of SDOG tokens and used them for staking. After that, he was able to withdraw $ 10 million. The owners of two more such wallets withdrew $ 7.7 and $ 3.3 million each. Of course, it is impossible to prove that these were the developers. But, as noted by the user of the social network Twitter, in order to withdraw funds, it was necessary to know the special key "challengeKey" and ordinary owners of the token could not find out this key. The developers "apologize" and promise that the owners of SDOG tokens will be able to use them for other activities in the future. They also promise to return liquidity for the token to the Trader Joe platform. However, in fact, many investors have lost their funds. After all, the token rate reached $ 2,290, and now SDOG is trading at $ 90. In early November, it was reported that the developers of the AnubisDAO project held a token sale for $ 60 million, after which they withdrew all the money and closed their accounts in social networks.
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#5. Sam Bankman-Freed: "Solana Could Replace Bitcoin"
The CEO of the FTX exchange, Sam Bankman-Fried, believes that the Solana cryptocurrency can take the place of Bitcoin, but for this it needs to overtake its main competitor - ether.
Sam Bankman-Fried suggested that a scalable cryptocurrency with very low commissions should come out on top in terms of cryptocurrency market capitalization, and SOL could become it. To do this, the Solana blockchain must process tens of millions of transactions per second, and Bankman-Freed believes that Solana has a real chance to do so. However, before the SOL coin takes the place of Bitcoin, it needs to overtake its main competitor - ether.
Bankman Freed recognizes the value of BTC, but Bitcoin's blockchain is rarely used to build any applications. As for Ethereum, many DeFi and NFT projects are being developed based on this network. In addition, Ethereum developers have already begun the transition to Ethereum 2.0, and the Proof-of-Stake (PoS) consensus algorithm can solve the main problems associated with scalability. However, Bankman-Freed does not think so and is pessimistic about Ethereum 2.0.
He spoke about sharding, which involves dividing the Ethereum infrastructure into smaller parts (shards) to speed up transaction processing. According to Bankman-Fried, the disadvantage of sharding is that it does not imply native layout between transactions in different shards. Competition between network participants in different shards will automatically put all users at a disadvantage and create "chaos" in the Ethereum network.
Solana Labs co-founder Raj Gokal said this month that the project has no goal of “killing” Ethereum, and there is room for everyone to grow in the crypto space.
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