A government shutdown was prevented on September 30, 2023, after Congress passed a stopgap funding measure in a whirlwind day on Capitol Hill. The bill, which was approved by the House of Representatives and the Senate, funds the government through November 17, 2023. President Joe Biden signed the bill into law late Saturday night, just hours before the midnight deadline that would have triggered a shutdown. The stopgap funding measure was passed in a bipartisan effort, with Democrats and Republ...
Oct 03, 2023•21 min
Botanix is actually an intermediary that makes it possible for people to use decentralized applications on Bitcoin. That means that you will be able to use decentralized exchanges (DEX), lend and borrow money, trade non-fungible tokens (NFTs) and so on. Things like this have been possible on Ethereum but Botanix is unlocking the same world for Bitcoin. Botanix introduces the Spiderchain, a new primitive for second-layer blockchains. The Spiderchain effectively separates Bitcoin ”the asset” and B...
Oct 01, 2023•18 min
BlackRock Inc.’s CEO Larry Fink expects 10-year Treasury yields to top 5% as shifts in geopolitics and supply chains make inflation more persistent. Fink said the US economy remains vibrant, and a recession, if it happens, might not take place until 2025. Meanwhile tokenized assets like treasuries are booming in DeFi.
Sep 29, 2023•24 min
With less than two days to go until the critical deadline to extend federal funding, Congress is barreling toward a government shutdown as lawmakers have yet to reach a deal. How will this effect the crypto market short-term?
Sep 29, 2023•17 min
The potential launch of Ethereum Futures ETFs as early as next week is a significant development for the crypto community. It would provide investors with a new way to gain exposure to Ethereum, without having to purchase the cryptocurrency directly. This could lead to an influx of new investment into the Ethereum ecosystem, and help to legitimize it further in the eyes of mainstream investors. There are a number of reasons why there is growing anticipation for Ethereum Futures ETFs. First, Ethe...
Sep 29, 2023•16 min
SEC Chair Gary Gensler faced questions about buying Pokemon cards and bitcoin ETFs, in addition to criticism over his approach to crypto regulation during a House hearing on Wednesday. Meanwhile, Coinbase invades the hearing to Stand With Crypto.
Sep 28, 2023•25 min
Walmart, the world's biggest retailer, is set to sell NFT collection Pudgy Penguins' toyline in its 2,000 stores across the U.S. Each Pudgy toy provides access to Pudgy World — a multiplayer digital social platform where users can build their "Forever Pudgy" characters, play mini-games and interact with other users. Pudgy World is based on zkSync Era, an Ethereum Layer 2 blockchain network. NFT holders will receive licensing royalties for each corresponding toy that is sold at Walmart, Pudgy Pen...
Sep 26, 2023•7 min
Recently leaked documents reveal that tech giant Microsoft plans to integrate cryptocurrency wallets into its Xbox gaming console. This move could have a major impact on the gaming industry, as it would allow gamers to purchase in-game items and services using cryptocurrency. It could also lead to the development of new types of games that are powered by cryptocurrency. The leaked internal documents posted on the gaming forum show that the Xbox roadmap for May 2022 included crypto wallet support...
Sep 26, 2023•29 min
MicroStrategy's purchase of an additional 5,445 bitcoins for $214.6 million brings its total Bitcoin holdings to over 158,000 BTC, worth over $4.7 billion at current prices. This makes MicroStrategy the largest publicly traded corporate holder of Bitcoin. MicroStrategy CEO Michael Saylor is a vocal advocate for Bitcoin, and he has repeatedly said that he believes it is a digital store of value with a bright future. Saylor has also said that he believes Bitcoin is a good hedge against inflation a...
Sep 25, 2023•19 min
Mainstream media outlets have once again declared that nonfungible tokens (NFTs) are “finally totally worthless,” citing the results of a DappGambl study on the “evolving landscape” of NFTs.The DappGambl study found that as many as 95% of NFTs (owned by more than 23 million people) have no value at all. This is a significant finding, and it raises questions about the long-term viability of the NFT market. However, Animoca Brands CEO Yat Siu has dismissed the study's findings as "FUD," or fear, u...
Sep 25, 2023•25 min
The impact of a US government shutdown on the Securities and Exchange Commission (SEC) would be significant. The SEC is responsible for overseeing the US stock market, and a shutdown would severely limit its ability to do so. With a skeletal staff, the SEC would not be able to fully review company filings, investigate potential market abuses, or respond to emergencies. This could lead to increased market volatility and decreased investor confidence.Here are some specific examples of how a US gov...
Sep 22, 2023•14 min
Gary Gensler's comments in a recent interview reflect his long-held view that the crypto industry is largely out of compliance with US securities laws. He has repeatedly stated that most crypto tokens meet the definition of securities under the Howey Test, and that exchanges and other platforms that sell or trade these tokens need to register with the SEC. Gensler's comments have been met with mixed reactions from the crypto community. Some have accused him of being hostile to the industry and o...
Sep 22, 2023•19 min
On September 20, the United States House Financial Services Committee met to discuss the CBDC Anti-Surveillance State Act. The debate over the bill went beyond strictly financial and technical issues, with references to Star Wars, anarchists, and crypto bros. One of the main concerns raised by opponents of the bill is the potential for CBDCs to be used by the government to surveil and control its citizens. CBDCs are essentially digital forms of fiat currency that are issued and controlled by cen...
Sep 21, 2023•22 min
The Federal Open Market Committee (FOMC) is the monetary policy committee of the Federal Reserve System. It meets eight times per year to set interest rates and conduct other monetary policy operations. The FOMC's decisions have a significant impact on the global economy, including the traditional financial markets and the Bitcoin and crypto sectors. On Wednesday, September 20, 2023, at 2:00 pm ET, the FOMC will announce its decision on the federal funds rate. The federal funds rate is the inter...
Sep 21, 2023•55 min
The Coinbase "Stand with Crypto" campaign is a grassroots effort to advocate for favorable cryptocurrency legislation in the United States. The campaign has a strategic focus on nine specific states: New Hampshire, Nevada, Ohio, Pennsylvania, Arizona, California, Georgia, Illinois, and Wisconsin. These states were chosen because they have a large population of crypto owners and voters who are opposed to anti-crypto candidates. The campaign aims to mobilize crypto advocates to contact their membe...
Sep 20, 2023•12 min
Citigroup's new tokenization service is a significant development for the financial industry. It shows that major banks are serious about blockchain technology and its potential to revolutionize cash management and trade finance.Tokenization is the process of converting traditional assets, such as cash and securities, into digital tokens that can be traded on a blockchain. This has a number of benefits, including: Increased efficiency and speed of transactions Reduced costs Improved transparency...
Sep 19, 2023•15 min
Consumer data science is vital for understanding market trends. The Market Sentiment Index (MSI) is a decade-long effort in cutting-edge technology, specializing in trend identification and consumer behavior analysis across sectors. Using this approach, we've created a data credential model tracking millions of digital NLP and AI-driven data sets from various social platforms. The MSI is the industry's most comprehensive sentiment index, covering investment data, behavior, and sentiment analysis...
Sep 18, 2023•15 min
The upcoming hearing in the case between Binance and the SEC is a major event for the cryptocurrency industry. Binance is the world's largest cryptocurrency exchange, and the SEC is the top securities regulator in the United States. If the SEC is successful in its case against Binance, it could have significant implications for the entire cryptocurrency industry.The sealed documents that are expected to be disclosed at the hearing could shed light on the SEC's case against Binance. The SEC has a...
Sep 18, 2023•21 min
A Bitcoin ETF is an exchange-traded fund that tracks the price of Bitcoin. It would allow investors to buy and sell Bitcoin shares on a traditional stock exchange, making it easier and more convenient for investors to invest in Bitcoin.The US Securities and Exchange Commission (SEC) has so far rejected all applications for Bitcoin ETFs, citing concerns about market manipulation and investor protection. However, many experts believe that Bitcoin ETF approval is inevitable.There are a number of re...
Sep 18, 2023•34 min
The U.S. Hearing Entitled: Digital Dollar Dilemma: The Implications of a Central Bank Digital Currency and Private Sector Alternatives is a hearing held by the House Financial Services Committee to discuss the potential implications of a central bank digital currency (CBDC) and private sector alternatives, such as blockchain-based stablecoins.Government-controlled and issued CBDCs have a number of potential advantages, including: Increased financial inclusion for underserved communities More eff...
Sep 18, 2023•28 min
After fungible crypto tokens, the U.S. Securities and Exchange Commission (SEC) began to tighten its grip on the non-fungible token (NFT) landscape. The creator of the popular animated series, Stoner Cats, was prosecuted by the regulatory agency for indulging in an unregistered offering of crypto asset securities in the form of NFTs. Hollywood couple Mila Kunis and husband Ashton Kutcher, was fined $1 million as part of the settlement. However, not everyone within the SEC agrees with the enforce...
Sep 15, 2023•17 min
On this episode, we're rounding up the latest crypto news we missed throughout the week and taking live viewer questions.China's central bank recently cut rates in an attempt to boost its slowing economy. However, this comes when inflation continues to rise in the United States and other countries worldwide. This raises the question of whether inflation will ever reach the Fed target of 2%. Several factors could contribute to continued inflation. One factor is the war in Ukraine, which has disru...
Sep 15, 2023•32 min
As you know, the Consumer Price Index (CPI) is a measure of the average change in prices of consumer goods and services over time. The August CPI reading of 0.6% was in line with economist expectations, but it was higher than the 0.2% increase in July. On a year-over-year basis, CPI inflation rose to 3.7%, which was higher than the 3.6% forecast and the 3.2% increase in July. This higher inflation reading is a bit concerning, as it could put pressure on the Federal Reserve to raise interest rate...
Sep 13, 2023•23 min
Visa's interest in Solana is a significant development in the world of blockchain and payments. Solana is a high-performance blockchain network that can process up to 50,000 transactions per second (TPS). This makes it much faster than traditional payment networks like Visa, which can only process around 24,000 TPS. Solana is also much cheaper than traditional payment networks, with transaction fees of just a few cents.Visa's deep dive into Solana suggests that the company is seriously consideri...
Sep 13, 2023•22 min
Senator Sherrod Brown, a Democrat from Ohio, is the chairman of the Senate Banking Committee, which has jurisdiction over cryptocurrency regulation. He has been a vocal critic of the industry, calling it a "Wild West" of fraud and abuse. In a speech on Tuesday, he said that he sees the industry as "jammed with fraudsters and abuse." He also said that he is concerned about the potential for cryptocurrency to be used to evade sanctions and finance terrorism. Securities and Exchange Commission (SEC...
Sep 13, 2023•16 min
The potential approval of a BlackRock Bitcoin Spot ETF is a major development in the cryptocurrency space. If approved, it would be the first spot Bitcoin ETF to be listed on a major U.S. exchange, and it would open up the door to institutional investment in Bitcoin.This could have a significant impact on the way that markets allocate their Bitcoin holdings. Currently, most Bitcoin is held by retail investors, but a spot Bitcoin ETF would make it easier for institutional investors to get involve...
Sep 12, 2023•31 min
A flatcoin is a type of stablecoin that is pegged to the Consumer Price Index (CPI), a measure of inflation. This means that the value of a flatcoin is designed to remain relatively stable over time, even as the prices of goods and services fluctuate. Traditional stablecoins are typically pegged to fiat currencies, such as the US dollar or the euro. However, these currencies are also subject to inflation, which can cause the value of stablecoins to fluctuate as well. Flatcoins, on the other hand...
Sep 12, 2023•18 min
FTX, a cryptocurrency exchange founded by Sam Bankman-Fried, filed for bankruptcy in November 2022 after a surge of customer withdrawals. The exchange is now in Chapter 11 bankruptcy proceedings, which allow it to reorganize its finances while still operating. As part of its bankruptcy filing, FTX filed a motion to sell, pledge, and hedge over $3 billion in crypto asset positions. The motion, which was submitted in August, has a hearing scheduled for September 13 to determine whether FTX's propo...
Sep 12, 2023•19 min
Alex Tapscott is an entrepreneur, business author, and seasoned capital markets professional focused on the impact of emerging technologies, such as blockchain and cryptocurrencies, on business, government, and society. He is the author of several books on the topic, including Blockchain Revolution and Web3: Charting the Internet’s Next Economic and Cultural Frontier. Alex is also the Managing Director of the Digital Assets Group at Ninepoint Partners, a leading investment firm with more than $8...
Sep 11, 2023•36 min
The Financial Accounting Standards Board (FASB) recently adopted a new accounting standard that will require businesses to use fair-value accounting for bitcoin and certain other crypto assets. This means that companies will have to value their crypto holdings at their current market price, and recognize gains and losses in their financial statements each reporting period. The previous accounting treatment for crypto assets was much less rigorous. Companies were allowed to carry their crypto hol...
Sep 11, 2023•17 min
