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Jack Dorsey Is Hopeful Bitcoin Can Create 'World Peace'

The Twitter and Square CEO has an ultimate goal for the biggest crypto, and believes it can help fix things at a “foundational level.”　　 In brief　　Twitter CEO Jack Dorsey today said he hopes Bitcoin will create world peace.　　Yes, hes aware that “may sound a bit ridiculous.”　　The ultimate goal of Bitcoin is world peace, Twitter and Square CEO Jack Dorsey said today, while also acknowledging the outlandishness of his claim.　　The tech entrepreneur made the comments at the ‘The B Word’ online conference, joined by Tesla CEO Elon Musk and ARK Invests Cathie Wood.　　“My hope is that it [Bitcoin] creates world peace or helps create world peace,” he said. “It may sound a bit ridiculous but you fix that foundational level and everything above it improves. It is in the long-term but my hope is definitely peace.”　　Dorsey added that one of the main reasons he loves cryptocurrency is because of its community—calling it “deeply principled.” He said that the biggest cryptocurrency by market cap has a “weird as hell” community—but thats why he likes it.　　The Square CEO helped put on the conference, ostensibly created to educate institutions on how they can embrace Bitcoin and “support the network.”　　Musk, for his part, revealed today

2021-07-22Deep Dive

Bitstamp to list Tether’s first-ever Euro backed stablecoin EURt

Bitstamp, a bitcoin exchange based in Luxembourg has announced the launch of Tethers first Euro-based stablecoin, EURt. Tether-issued stablecoins already hold a dominant position in the European crypto sphere, and with rising demand for stablecoins, EURt could be the answer to exceptional profit margins for Bitstamp. The press released has dated the launch to 22nd July, Thursday and it states that the coin will be available for trading on both, on the website, i.e., bitstamp.net, and the Bitstamp app.　　Compatible with domestic currency　　Bitstamp mentioned that EURt is custom-made for users in the European territory. The exchange highlighted that the low-risk, reliable stablecoins are mostly traded against the US dollar on a 1:1 basis. Nevertheless, EURt will be compatible with Euro users, allowing them to trade in their domestic currency.　　“Accepted the world over, the US dollar is the global reserve currency and most stablecoins are pegged to it on a 1:1 basis. However, many of our users do have the euro as their domestic currency. We know how important it is to be able to trade in your domestic currency, so this news should come as a delight to all our EU-based customers.”, read the press release.　　Bitstamp emphasized the domestic efficiency of

2021-07-22Deep Dive

Goldman Sachs Survey Shows 45 Percent of Family Offices Want to Invest in Cryptocurrencies

Rich families still have appetite for cryptocurrencies in spite of the recent crash.　　A recent Goldman Sachs survey of more than 150 family offices around the globe shows that 45 percent of them are interested in investing in cryptocurrencies, Bloomberg reports.　　Notably, 15 percent of survey participants already have exposure to the nascent asset class.　　Those who are looking to get in on the cryptocurrency frenzy are worried about a long-lasting low-interest-rate environment and rising inflation.　　Last week, U.S. Treasury Secretary Janet Yellen forecasted several months of “rapid inflation.”　　Family offices are private companies that are responsible for handling the riches of wealthy families. With over $70 billion in total assets under management, Microsoft co-founder Bill Gates Cascade Investment is the largest investment company of this type.　　Nearly one-fifth of those family offices that participated in the aforementioned survey have more than $5 billion in assets under management.　　As reported by U.Today, Soros Fund Management, the family office of billionaire George Soros, greenlit Bitcoin trading last month.

2021-07-22Deep Dive

Ethereum “Has to Expand” Beyond DeFi: Vitalik Buterin

Vitalik Buterin has discussed how Ethereum could become a hub for decentralized social media.　　Key Takeaways　　Vitalik Buterin said that Ethereum “has to expand” beyond DeFi at EthCC.　　He discussed Ethereums potential as a base layer for decentralized social media, pointing out that Ethereum addresses could help users claim ownership of their identity.　　He also warned about that complex yield farming and token-related activities could lead to financial instability and attract the attention of regulators as the possibilities of DeFi evolve.　　Ethereums creator Vitalik Buterin wants to see the network find use cases beyond DeFi.　　 Buterin Discusses Social Media on Ethereum　　Vitalik Buterin has expressed his interest in seeing Ethereum become a base layer for decentralized social media.　　Speaking at EthCC Wednesday, Buterin gave a talk on “things that matter outside of DeFi.”　　Buterin outlined his vision for the future of Ethereum, explaining that it “has always been going beyond finance.” He focussed on the smart contract blockchain‘s potential use in decentralized social media, introducing the topic by explaining that it was an “interesting category” that he cares about. He noted that decentralized social media had recently become a point of interest among other crypto enthusiasts, referencing Stani Kulechov’s recent suggestion for Aave to build “Twitter on Ethereum.”　　Buterin

2021-07-22Deep Dive

Bitcoin pada harga $ 22,000? Panggilan bearish semakin meningkat ketika penjualan crypto meningkat

Bitcoin dan syiling digital lain jatuh bersama pasaran saham global semalam. Itu menjatuhkan nilai $ 85 bilion dari seluruh pasaran crypto dalam jangka masa 24 jam pada pukul 5 pagi EST hari ini. Bitcoin jatuh sebanyak 7%; Ether dan Dogecoin jatuh sekitar 7%; dan duit syiling Binance menguat 12%, menjadikan beberapa pedagang naik untuk penurunan harga yang lebih mendalam.　　Kali terakhir Bitcoin jatuh di bawah paras $ 30,000 pada 22 Jun. Raja syiling crypto kini berdagang 37% di bawah purata bergerak 100 hari, dan kini lebih daripada 50% di bawah paras tertinggi sepanjang pertengahan April hampir $ 65,000.　　Pada masa ini Bitcoin melayang sekitar $ 29,500, tetapi pemerhati pasaran mengatakan ia boleh turun menjadi sekitar $ 22,000. “Saya menjangkakan penurunan yang kuat ke arah $ 22K,” kata Patrick Heusser, ketua perdagangan di Crypto Finance AG, dalam wawancara Telegram pada hari Isnin. Pengurus dana Jeffrey Gundlach mengatakan sesuatu yang serupa akhir minggu lalu sebelum penjualan crypto terbaru.　　Sementara itu, pasaran opsyen menyaksikan peningkatan permintaan untuk opsyen out-of-money atau low-strike dengan harga $ 22,000 dan $20,000. Kejatuhan terbaru dalam mata wang digital muncul ketika AS berjangka melonjak dari sesi Isnin yang kasar.　　Crypto Fear & Greed Index — yang memperlihatkan suasana di kalangan pelaku pasaran dengan

2021-07-21Deep Dive

​Reveal Scams in Cryptocurrency Trading!

Numerous people have a limited understanding of blockchains and digital currencies, making them vulnerable to scams in the industry. Several frauds commonly encountered in cryptocurrency trading are unveiled herein.　　Reaping profits via Aircoins　　Most blockchain-related projects issue tokens, but many lawbreakers conduct multi-level marketing in the name of blockchains. They recruit investors by issuing Aircoins and promising high returns with the absence of actual projects, thus choosing to run away when they fail to rob Peter to pay Paul.　　Being wealthy overnight via speculating coins　　The speculation about coins is volatile and highly risky. As for the general public, the possibility of being wealthy through digital assets is less.　　Solving all problems via decentralization　　Although decentralization is a technical improvement, Vitalik Buterin has noted that blockchains are not appropriate for all industries. Therefore, please be alert to projects hyping up the idea that decentralization can solve all problems.　　White paper equaling to making techniques available　　The white paper is a significant standard for investors to identify the value of projects. However, it is prone to exaggeration, rife in plenty of jargon. Projects can be valued when they are turned into profits.　　Quality projects endorsed by celebrities　　Numerous celebrities support and promote projects for money, but there are always some traders

2021-07-21Deep Dive

Dogecoin (DOGE) trading volumes hit billions of dollars in 2021

Data compiled by Coinbase shows that Dogecoin (DOGE) trading volumes surged 1,250% in the second quarter of 2021, as reported by Business Insider.　　During this period, the American cryptocurrency exchange platform recorded an average of $995 million in Dogecoin trading daily.　　 Almost $1 billion worth of Dogecoin changing hands daily　　The cryptos average daily volume was $74 million during the first quarter of the year, meaning the metric witnessed a staggering 13-fold boost between April and July.　　The meme token started the year modestly at around $0.004 but witnessed a massive rally, soaring more than 15,000% to above $0.70 in May.　　Tesla CEO, who has been shilling Dogecoin on Twitter since February, escalated the meme token‘s popularity, which got listed on major exchanges, including Gemini eToro and Coinbase, later in this year’s second quarter.　　Following the downward market trend, Dogecoin experienced significant losses since its all-time high at $0.75 on May 8, falling 78%.　　The entire crypto market witnessed plenty of action during the turbulent second quarter as the global cryptocurrency trading volume increased by 32%, according to data from Coinbase, which suggests Dogecoin accounted for more than 5% of the combined encryption volume.　　Musks most recent shilling campaign efforts　　Musks habit of displaying his support for Dogecoin

2021-07-21Deep Dive

Study suggests Canadian CBDC could promote digital innovation within the country

A study released by Canadas central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC.　　The document laid out two scenarios that might result in the bank issuing a CBDC at some future date. One would be if citizens were no longer widely using cash within the country for reasons that were left unspecified. The other could be if a digital currency, public or private, were to become so widely adopted as to threaten the sovereignty of Canadas existing central currency.　　Participants did not see either scenario as a likely outcome in the near future, but noted that an interest in stablecoin regulation and adoption had increased within the country in recent months. Even so, the study found that cryptocurrencies and stablecoins used as a means of payment in Canada are currently a “novelty for a small number of enthusiasts.”　　The document acknowledged a number of potential benefits inherent to the adoption of a CBDC. Namely that the technology could have the same level of safety as cash while allowing for use in payment systems for online transactions and peer-to-peer transfers. When compared to payment options like

2021-07-21Deep Dive

UBS Has No FOMO for Crypto as Asset Class Still Untested, Says CEO Ralph Hamers

UBS has no FOMO about the cryptocurrency space as it‘s still an untested asset category, said the financial giant’s CEO.　　Ralph Hamers, the CEO of the Swiss multinational investment bank UBS Group AG, has no FOMO towards the cryptocurrency industry. He feels his organization is not missing out on any potential gains from this “untested” market.　　No Crypto Fomo: UBS CEO　　Speaking to Bloomberg TV, Hamers outlined the success of the financial institution that he runs in the past year. While commenting on the bank‘s earnings and the expansion to other nations, he received a question in regards to what are UBS’s plans towards the cryptocurrency industry.　　More specifically, he was asked whether the giant banking institution feels any FOMO (fear of missing out) of potential gains which the digital asset market registered in the past year or so.　　However, Hamers refused any such assumptions, saying that UBS is focused only on the goals it has and averts from looking around at other investment options, especially such that have not been truly tested yet.　　“We feel that crypto itself is still an untested asset category. I never have FOMO because I am determined as to what I want to do. There are always these things that

2021-07-21Deep Dive

FTX Raises $900 Million and Hits $18 Billion Valuation

FTX, a major cryptocurrency exchange and crypto futures trading platform, has raised $900 million in a new funding round.　　Funding Round Attracts Top Investors　　The Series B funding round brought in money from over 60 investors including SoftBank Group Corp, Sequoia, Thoma Bravo Ribbit Capital, and VanEck. Two crypto exchange funds, Coinbase Ventures and Circle, also participated in the fundraiser.　　The newly-added funds put FTXs valuation at $18 billion. Its press release notes that it has seen “tremendous growth” since its launch in May 2019, with revenue growing by a factor of 75 since its 2020 Series A funding round and a factor of ten this year alone.　　The firm noted that this is the largest fundraiser in crypto exchange history. Other large fundraisers include Circle‘s $440 million round in May 2021 and BlockFi’s $350 million round in March 2021.　　FTX Will Use Funds to Expand　　FTX CEO Sam Bankman-Fried commented that he is “incredibly humbled by the support weve gotten.” He added that FTX has formed a “hugely valuable set of partners” and that the new funds will help the firm “build out a bigger and broader vision.”　　The exchange says that it will use its newly raised funds to expand its product line, grow its

2021-07-21Deep Dive
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