EddieJayonCrypto
16 Feb 23
• The Cryptoverse rises, and no one should be surprised• Robinhood sees crypto volume jump 95% and DBS Digital Exchange (DDEx) see an 80% rise• Hong Kong uses crypto tech developed by Goldman Sachs to launch $102M bond• Polygon's zkEVM mainnet beta launch set for March 27th• Wyoming bans state court...
• The Cryptoverse rises, and no one should be surprised• Robinhood sees crypto volume jump 95% and DBS Digital Exchange (DDEx) see an 80% rise• Hong Kong uses crypto tech developed by Goldman Sachs to launch $102M bond• Polygon's zkEVM mainnet beta launch set for March 27th• Wyoming bans state courts from forcing the disclosure of crypto private keys #NYKNYC• Crypto Mom Hester Peirce calls out the SEC over the speed and timing of the qualified custodian proposal, and questions the agency's right to oversee cryptoYou should not be surprised by this latest surge by the Cryptoverse. Here is what is on my mind today.1. You should not be surprised by this latest surge by the Cryptoverse. I have been showing you just how resilient crypto is. I have also been telling the more governments squeeze crypto, the more it will escape. Whether the strength stems from institutional investments or retail interest jumping or both, crypto is constantly proving itself. What say you, Mr. Munger? 2. Robinhood announced they saw a 95% jump in crypto activity in January. Assets under custody also rose 20% for the firm bringing them to $74.7B. When you think about it, this is also not surprising and they weren't alone. DBS Digital Exchange (DDEx), the crypto trading subsidiary of DBS Bank, saw an 80% rise in volume. 3. Hong Kong becomes the first government to issue a tokenized bond. The $102M with a 4.05% yield, the bond as issued using crypto technology developed by Goldman Sachs. Hong Kong hired Bank of China, Goldman Sachs, Credit Agricole, and HSBC to hold investor calls. Like I said yesterday when I reported Siemens issuing a $64M bond, the move will be trending. Hong Kong citizens will also be able to legally start trading crypto beginning June 1st. Brian Armstrong, CEO of Coinbase, calls out US regulators for dragging their feet and says the US could lose its standing as a crypto hub. 4. Polygon's zkEVM mainnet beta is set to hit March 27th and with it comes a great deal of speed. Most importantly, this offering will introduce a new level of scaling. Imagine the speed at which assets will be able to be transferred. Imagine the number of project that will immediately the speed, scalability and, most likely, the decrease in gas fees. As I have said, Polygon has a lot in the tank with more to come. 5. Wyoming has always been known as a privacy-centric state. They have taken it a step further by banning the forced disclosure of their crypto keys. State courts are not banned from forcing people to give up their crypto. Remember, not your keys, not your crypto #NYKNYC. 6. Gary Gensler and the SEC are trying to steamroll their qualified custodian vote and Crypto Mom Hester Peirce is not having it. She again went on the record stating the SEC proposal does not a lot enough time for the public to analyze and comment on the proposed rule. She also questions the agency's right to oversee the crypto industry.