tl;dr
• Shiba Inu is getting mysterious with all tweets and blogs taken down• Bank of America's CEO, Brian Moynihan, was speaking at the World Economic Forum and said BoA has no plans on offering any crypto services• Balenciaga, a well-known French fashion house, will be accepting crypto• The top five exc...
• Shiba Inu is getting mysterious with all tweets and blogs taken down
• Bank of America's CEO, Brian Moynihan, was speaking at the World Economic Forum and said BoA has no plans on offering any crypto services
• Balenciaga, a well-known French fashion house, will be accepting crypto
• The top five exchanges in South Korea have created a joint response council after their poor response to LUNA
• Is MoneyGram prolonging the inevitable
Like I said yesterday, I am looking for moves that lay the foundation for crypto growth. Impacts we will realize over time can foretell more than most realize. Here is what is on my mind today.
1. Shiba Inu is getting mysterious with all tweets and blogs taken down. I think we are looking at some serious news about to drop. The first hint was a couple of days ago when they announced Marcie Jastrow joining the metaverse team back on the 25th. Ryoshi Research is making a big statement here and I am looking forward to what they announce next. In case you were wondering, I did snatch on the dip! #DCA #DYOR
2. Bank of America's CEO, Brian Moynihan, was speaking at the World Economic Forum and said BoA has no plans on offering any crypto services. If you are BoA customer and into crypto, I know you must be feeling some sort of way. This is nuts. He even noted how the bank has hundreds of patents on blockchain technology. This announcement has thrown me for a bit of a loop. Is this a chance for competitors like BNY Mellon, who landed a major crypto custody deal with USDC in March, to take a bite out of their business. Time will tell.
3. According to an article in Women's Wear Daily, Balenciaga, a well-known French fashion house, will be accepting crypto. The current setup is to accept BTC and ETH. That said, Balenciaga does have plans to expand the number of coins they will accept. In a company statement, "Balenciaga is thinking long-term about crypto, and fluctuations in currency value are nothing new." This is what I have been telling businesses as they begin their journey into crypto.
4. As you might have guessed, the top five exchanges in South Korea (Upbit, Bithumb, Coinone, Korbit, and Gopax) have come under an increasing amount of scrutiny stemming from the LUNA crash and their collective miss at responding. Because of that, they have teamed together to create a so-called 'joint response council'. Newly formed, they have a ways to go in figuring out what and how the council will operate, including cross-exchange warnings about coins that may be facing termination of transaction support. I think it will be interesting to see how that pans out. They are late to the game.
5. For a while now, I have been wondering how companies like Western Union and MoneyGram would fare in a crypto world. Well, MoneyGram is at least moving in the right direction by partnering with Stellar. The partnership, first announced in October of last year, will allow customers to send and receive USDC and convert it to fiat. The CEO of MoneyGram, Alex Holmes, says the future of remittances is crypto. Nice move, but isn't that just prolonging the inevitable?