tl;dr
• Coinbase CEO, Brad Armstrong, introduces a global regulatory framework that actually could work• The US isn't even in the top 5 places for a crypto company to do business (Singapore, Dubai, United Kingdom, Slovenia and Switzerland)• Visa is now touting the idea of making automatic payments• Binan...
• Coinbase CEO, Brad Armstrong, introduces a global regulatory framework that actually could work
• The US isn't even in the top 5 places for a crypto company to do business (Singapore, Dubai, United Kingdom, Slovenia and Switzerland)
• Visa is now touting the idea of making automatic payments
• Binance completes the purchase of Indonesia-based crypto exchange Tokocrypto
• Andreesen Horowitz (a16z) says it has $4.5B in the tank to dive deeper into Web3 and crypto
Here is what is on my mine today.
1. I normally want Brad Armstrong, CEO of Coinbase, to focus on his own business instead of having much to say about other events. However, this time I think he could be on to something. He has been saying for a while that stablecoin issuers, custodians and centralized exchanges should be regulated. This would bring a certain amount of stability and trust in the space. For once, we agree. His view is this should be done on a global scale. This kind of plays into my take on crypto introducing a far more global economy.
2. Looking at what is going on with regulations around the world, I think the United States should be paying heed to what they are not. They are not a global leader in the crypto world. They are not even in the top 5 places to start a new crypto company. They would be, Singapore, Dubai, United Kingdom, Slovenia and Switzerland. I would also say don't sleep on countries like Brazil, El Salvador, Nigeria and others are they are each making inroads with new and existing crypto companies.
3. I want you to pay close attention to what the credit card companies do in the face of change. Visa is now touting the idea of making automatic payments from your self-custody wallets. You may be wondering why. It is their way of trying to remain relevant in a market that won't need the bulk of their services. Crypto doesn't need a middleman in the process.
4. In another bog move, Binance completes the purchase of Indonesia-based crypto exchange Tokocrypto. Pay attention to what all of the centralized exchanges are doing around the world. They are all preparing for crypto's normalcy. Meaning they are creating a way for them to exist as a part of the adoption infrastructure.
5. For a long time Andreesen Horowitz (a16z) has been a big investor in Web3 and crypto. The company's General Partner, Chris Dixon, has been sharing just how much more gas they have in the tank. About $4.5B worth! When you hear people spreading FUD, I want you to think about what they have to gain or lose in doing so. There is just too much foundation being laid for crypto and Web 3 to go away. It has become a part of the financial fabric and will continue to grow, in my humble opinion.
6. There is a lot more to come from Web3 and crypto. Pay attention and start connecting the dots as you continue to do your own research. Don't just focus on crypto. Also pay attention to what is going on around all of finance. There are a lot of opportunities out there. You just need to find them. Not all of them quick wins. Some are strategic moves you can make that will lead to big moves.