RABIT Weekly news (W5 Mar 2022)
- Bridgewater plans to invest in products linked to Bitcoin prices
- Coinbase launches Cardano staking service
- Russia allows Bitcoin payments for natural gas transactions
- Prohibition of PoW Mining, which resulted in rejection, may be put to a re-vote at the plenary session of the EU Parliament in April
- New York State House to vote on bill banning PoW mining. If approved by the Senate, a three-year ban
- Morgan Stanley may slow defi growth due to regulations and over-security
- Defi lockup value soars from approx. $600M in 2020 to approx. $200B in 2022
- Risk of financial crime due to its anonymity and vulnerability to hacking
- New York Fed states, “We have high hopes for the potential of the settlement sector amidst the innovations of stablecoins, but it should clearly be regulated
- Fed Chairman Jerome Powell at BIS Innovation Summit: “We need laws and frameworks that can handle digital currency, and decisions about CBDC are pending.”
- Former BoA executive David Wu says U.S. CBDC launch could be a crackdown on existing digital currencies, as in China, which would have a negative impact
- China to punish cryptocurrency mining without mercy, in accordance with laws and regulations
- Mining designated as a “culling industry”
- Binance transforms from a tech company to a global financial institution, preparing to form a board of directors
- Discussing attracting investments from sovereign wealth funds and large investors
- Bitcoin-only exchanges in Europe on the rise
- Complete refusal to support altcoin transactions that distort the nature and reason for Bitcoin’s existence
- Goal is to become a savings app rather than a short-term profit on transaction fees
- Terra plans to buy BTC worth about $10 billion in reserve funds for Stablecoin UST
- Related wallet currently holds 24,955 BTC
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