tl;dr
People are feeling slightly disheartened as the Cryptoverse pulls back. All I see are opportunities. Here is what is on my mind today.1. CoinShares is expanding into the United States. They have just received approval from the SEC to snatch up Valkyrie Funds, an ETF and subsidiary of Valkyrie Invest...
People are feeling slightly disheartened as the Cryptoverse pulls back. All I see are opportunities. Here is what is on my mind today.
1. CoinShares is expanding into the United States. They have just received approval from the SEC to snatch up Valkyrie Funds, an ETF and subsidiary of Valkyrie Investments. If you are thinking CoinShares would then be in control of the current applications for Bitcoin and other ETFs, you would be 100% correct. This is very interesting development.
2. Aave Companies changes its name to Avara. This is a new move for the well-known DeFi protocol. They also snatched up Los Feliz Engineering, a Web3 software development startup. I am seeing this as quite the strategic move as Avara ventures into the Metaverse.
3. Strike is on the move! Jack Mallers, the CEO of Strike, released a blog post announcing Strike's global expansion with onramps and offramps outside the United States. Currently in 36 countries, Strike has clear plans on expanding into over 65 countries. This is going to make buying, selling and even using Bitcoin easier. Now to watch how the company rolls everything out.
4. I have been listening to the noise around Vitalik Buterin grow. Now there are rumors of recordings surfacing from all the way back from 2015. The allegations are coming from early Ethereum insider, Steven Nerayoff. Ethereum's price has dropped, but as I see it, the drop is a part of overall profit-taking in the market. Frankly, I want to see if the allegations are that bad. Something said 8 years ago may not be as bad as one may think. I am also looking for what could be illegal, if anything. I have yet to hear anything. More FUD???
5. I had been wondering when the credit card companies would speak out about CBDC. I really hadn't heard anything definitive from them. Mastercard just broke its silence. Their premise is that in countries with existing robust payments networks it would be hard for CBDCs to gain adoption. Of course, they are speaking as one such network. That said, they do not want to have to take on governments and the crypto industry. Of course, what they are saying is not wrong either. Then you MUST consider the impact of cryptos. There are already fast, secure cross-border transactions happening without CBDCs, leveraging decentralized blockchain technology. There is that word: decentralized. That is the problem for countries and they just don't want to admit it. Decentralization means there is no single or small group of entities in control. That is not what they want.
6. Coinbase introduces a brand new open source Onchain Payment Protocol. The protocol is meant to enhance commerce on Coinbase with almost instant crypto settlements. The popular centralized exchange is expecting to offer lower settlement fees to retailers trying to accept crypto. Transactions would be carried across Base, of course, Ethereum and Polygon. I like seeing the direct foray into retail adoption and addressing the barriers faced by retailers and customers.
🚨 Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Eddie Jay on Crypto. Eddie Jay on Crypto may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.