EddieJayonCrypto
1 Aug 22
1. A late and brief Sunday Roundup (on a Monday). For a quick outlook, I am looking for some more consolidation of centralized exchanges given how many are dealing with massive layoffs. I am also paying attention to projects being swallowed up. The current economy can make it a buying season for som...
1. A late and brief Sunday Roundup (on a Monday). For a quick outlook, I am looking for some more consolidation of centralized exchanges given how many are dealing with massive layoffs. I am also paying attention to projects being swallowed up. The current economy can make it a buying season for some of the projects out there. It is an alternative way to gain resources as well as to round out current offerings. I am also paying attention to upcoming earning announcements from the likes of PayPal and Block. Both companies have big crypto services and may be called out for those specific earning. 2. Gary Gensler is at it again saying Crypto and securities exchanges should be treated the same. It is always some sort of off-hand comment and never a regulation or clear direction. Wouldn't it be nice for him to state what would make a crypto a security? Wouldn't it be nice to take the top X number of cryptos and tell the public which are commodities, which are securities and what the criteria was to make the judgements? More of the same from this guy. 3. Added to the growing number of wins for Polygon, they just announced they have partnered with Mercedes-Benz to create a new data sharing platform for southeast Asia. The platform, dubbed Acentrik will allows businesses to buy and sell data in a decentralized environment. 4. The City of Miami is set to launch 5K NFTs in partnership with TIME, Mastercard and Salesforce. The NFTs, designed by 56 different Miami-based artists. The art is meant to reflect the diversity of Miami. The project put together by Miami's Mayor Francis X. Suarez, a big Web3 fan. The President of Time, Keith Grossman stated, “The artwork will reflect the tremendous diversity represented within the city of Miami.” 5. Santander Brazil joins the growing list of traditional institutions jumping into the Cryptoverse. They literally said they recognize it as a market that is here to stay. Right there, in that statement is a sentiment traditional firms around the world must be thinking. 6. Japan established a "Web 3.0 Policy Office" to focus on developing metaverse related policies. Created by the Japanese Ministry of Economy, Trade and Industry (METI). The office will be under the Minister's Secretariat and is mandated to strengthen the framework. The office will work across the various departments and bring together the various bodies responsible for addressing Web3. I like how they have laid out a plan on how to engage internally. 7. According to the Chainalysis 2022 State of Cryptocurrency Investigations Survey, most US public agencies are feeling under-equipped to investigate crimes involving digital assets. It was not that long ago when police departments around the country were outgunned by criminals. Well, it is happening again. Criminals are sensing they currently have the advantage and this is why there is such a growth in digital asset crimes. It reminds of when they didn't have enough to fight cybercrime. Let's hope they catch up. 8. A lot of people think of centralized exchanges as being solely focused on allowing the purchase of crypto and downplay the fact that they also perform the other side of the transaction. Centralized exchanges make it easier for people to move from crypto back to fiat. This is also known as off-ramping. Think about it. The other direction is known as on-ramping. There are a couple of projects looking to solve the off-ramping problem. One is SafeGram and the other is Fiat24. I have not researched either of these projects but can see how more will pop up. Remember, there is a major move toward decentralized finance and off-ramping is about to become a big space.