EddieJayonCrypto
8 Jun 22
• Citadel Securities is working with Virtu Financial, Fidelity Investments and Charles Schwab to create a crypto trading platform• DEXs continue their dominance over CEXs with solidly ore transaction volume since 2020• Late to the game, PayPal finally allows users to transfer digital assets in and o...
• Citadel Securities is working with Virtu Financial, Fidelity Investments and Charles Schwab to create a crypto trading platform• DEXs continue their dominance over CEXs with solidly ore transaction volume since 2020• Late to the game, PayPal finally allows users to transfer digital assets in and out• Cardano has seen a 12% rise in the number of contributors• What happens to Layer 2s after Ethereum moves to proof-of-stake• South Korea investigating embezzlement at TerraForm Labs and ask exchanges to halt LFG withdrawals• South Korea's 5 licensed exchanges are delisting LTC after confidentiality feature is addedWow! There are some seriously big moves going on right now and a lot of it will fly under the radar. Here is what is on my mind today.1. Citadel Securities is working with Virtu Financial, Fidelity Investments and Charles Schwab to create a crypto trading platform. I wonder what this could mean for Robinhood. Citadel pays a lot of money to Robinhood to handle their order flow. This is also a really big step for Fidelity and Schwab. That's called an exchange, right? 2. DEXs continue their dominance over CEXs. Since 2020 they have had more transaction volume. This is just one of the factors driving CEXs to cut staff and rethink ongoing strategy. Coinbase, Rain Exchange, Geminis and Mercado Bitcoin all fall in that boat. I will not be surprised if we start to see more. 3. Late to the game, PayPal FINALLY allows users to transfer digital assets in and out. Maybe they are waking up to the idea that the exchange game is necessarily their thing. 4. I keep telling people to not sleep on Cardano. They keep making the right moves for the platform and they attracting projects. Cardano has seen a 12% rise in the number of contributors, according to CryptoCompare research. I know Solana has been working really hard to attract Terra projects, even raising $100M for the effort. But, Cardano might be a better home for them, especially when you consider the reliability issues Solana has, especially after their near-bottom ranking on the DeFiSafety technical risk score. 5. So We all know the merge is coming and Ethereum is supposed to get a lot faster, cheaper and have far less of an environmental impact. That said, what happens to all of the Layer 2s out there? Of all, I place Polygon in a completely different bucket given how much they have going on in terms of development and community. 6. As if it can't get any worse for TerraForm Labs, an employee is being investigated for embezzlement. The authorities are also looking to freeze their assets. Mind you, this is in addition to the authorities already having requested exchanges, including Upbit and Bithumb, suspend withdrawal requests by Luna Foundation Guard. Things just keep mounting. 7. In a major development, South Korea's 5 licensed exchanges are delisting Litecoin over their Mimblewimble implementation. The new technology allows people to choose whether or not their transaction is confidential. It also strips unnecessary transaction data from network blocks using compression technology. I am pretty sure it is the confidentiality piece that is causing the problem.