tl;dr
• Narayana Kocherlakota says James Bullard, President of the Federal Reserve Bank of St. Louis, speaking at a closed door conference with Citi and of its investor clients was terrible optics• PeckShield identified and ETH Alarm Clock hack that has seen over 200 ETH stolen and is ongoing• Tether anno...
• Narayana Kocherlakota says James Bullard, President of the Federal Reserve Bank of St. Louis, speaking at a closed door conference with Citi and of its investor clients was terrible optics
• PeckShield identified and ETH Alarm Clock hack that has seen over 200 ETH stolen and is ongoing
• Tether announced the coin will be available at over 24K ATMs across Brazil through an integration with SmartPay
• Fidelity is about to launch Ethereum trading for institutions next week, October 28th
• Fintech company, Plaid has launched Wallet Onboard, a Web3 tool they say will make it easy for Web3 developers to integrate with over 300 crypto wallets
Today is a very busy news cycle. Here is what is on my mind now.
1. So, it looks like the President of the Federal Reserve Bank of St. Louis, James, Bullard, was a closed door and off the record meeting at Citi, as per a NY Times article. No, this is not normal. He wasn't compensated for the event, but some of Citi's clients were in the room and that is strange, really bad optics. Former President of the Federal Reserve Bank of Minneapolis, Narayana Kocherlakota says, "the optics are terrible". What is even more strange is this little tidbit. He said historically the actions of the Fed would normally yield greater results. We are truly in uncertain times and we have never treaded waters like these.
2. Wondering why Ethereum is dipping? It could be because news of the ETH Alarm Clock hack which has seem about 200 ETH stolen thus far. This is an ongoing development. First reported by Web3 security firm PeckShield, a bug in the code for he Ethereum Alarm Clock has been exploited. I will keep you posted.
3. The stablecoin Tether will be made available at 24K ATMs across Brazil, as per their announcement. An integration with SmartPay makes this possible.
4. Fidelity is about to launch Ethereum trading for institutions next week, October 28th. If you pay attention, you will see the number of institutions getting involved in crypto increasing. With $4.5T in assets under management imagine the institutional reach of Fidelity.
5. Plaid has launched Wallet Onboard, a Web3 tool they say will make it easy for Web3 developers to integrate with over 300 crypto wallets, including Ledger, Coinbase, Metamask and Trust Wallet. Clearly, his is a centralized play. I wonder how this will effect existing competition like WalletConnect.