Tether, the Metaverse, and Transparency
If you haven’t already, click this link, scroll to the bottom of the page, and take my one-question poll. Thanks!
Is bitcoin destined to become a trusted means of exchange in Europe? Is a bounceback inevitable?
For the first time since the Merge, ether has become deflationary.
Tether, in an effort to become more transparent, has reduced its commercial paper to zero. I doubt it was done “to be more transparent.” It was done to reduce the criticism, and to stock up on the toilet paper.
Binance has established a $500 million lending facility for bitcoin miners. I can see some of them taking advantage of this.
MetaMask allows U.S. users to integrate wallets with ACH, but you’ve got to swim with the Sardines. I don’t think this is a good thing. Do you?
October has been a profitable month for hackers. According to Chainalysis, the $718 million in hacks this month makes it the biggest month of the year, and it’s not even half over yet. A Mango Markets exploit got fruity and impacted Solana, XRP, and Cardano. A lot of this depends on how you define “hack.”
Coinbase CEO Brian Armstrong says scalability and regulation are the two things that will drive more institutional investment in crypto. He’s 100% correct.
Web3 developers are more active than they’ve ever been. Entertainers—you know, like Buffy the Vampire Slayer—will be the first to onload 100 million fans to Web3. Your future email will be your Web3 wallet address. You’ll need to know how all that will impact cybersecurity. I can’t dispute any of this. Web3 is here and it’s only growing stronger despite some Internet pioneers, like Tim Berners-Lee, being dead set against it.
It’s been a very bad week for the metaverse. It’s mad, it’s hungry, and it’s going to eat Meta. Nevertheless, your boss would very much like you to pack up your desk and move it to a metaverse office. Hmmph!
A Kraken executive says NFTs will be as disruptive as bitcoin was 10 years ago. What are they waiting for?
Janet Yellen sees a need for central bank digital currency (CBDC). CBDCs are flexible and give commercial banks more active role (A SUPER READ). According to the World Economic Forum, there are four ways CBDCs promote financial inclusion.
Are DAOs starting to mimic traditional unfair power structures? Yes.
China researchers suggest pan-Asian digital currency. The Chinese have been trying to increase their influence in the Asian region for a couple of decades. A common currency would go a long way to establishing their goals.
13 percent of Canadians own bitcoin.
Has El Salvador’s bitcoin experiment failed?
Snark and commentary in italics. Inclusion of an item does not mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t.
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice. Do your own research.
