This Week in Crypto: SEC, ETH Deflation, Cardano & More!!
🤑 NFT Mania 🤑
Just a few days ago, PleaserDAO fractionalized their Doge NFT which they purchased for 4 million, and the valuation of those fractionalized NFT shares has given the Doge NFT a new valuation of nearly 300 million dollars
💱Coinbase x Polygon💱
Coinbase will be adding support for various Ethereum layer 2s starting with Polygon. This move might be a not-so-subtle response to Binance’s own integration with Polygon a few weeks back. The caveat there is that Binance only supports withdrawals of the MATIC token to Polygon
👎CEX Sucks👎 Over the last few weeks centralized exchanges have been making the headlines because of hacks and poor customer support. This problem will only get worse as the value of crypto continues to rise, attracting more hackers, scammers, errors, and downtime. Make sure to create back up accounts!
👨💻Square, Twitter, And Bitcoin👨💻
While the details are still up in the air, project lead Mike Brock mentioned that users will need to complete KYC to use Square’s Bitcoin DEX Interestingly, Square is apparently planning to build a unique decentralized identity solution for this KYC requirement, and this could end up being the real game changer
⚖SEC Makes First Move Against DeFi⚖
According to the Wall Street Journal, the SEC wants to know ‘how investors use Uniswap and how it is marketed’ by Uniswap Labs
🔥ETH Briefly Becomes Deflationary🔥
Ethereum saw its first deflationary day ever since EIP-1559 went live less than a month ago. The cause of this deflation was likely a combination of NFTs and DeFi, as well as the slew of metaverse worlds like Decentraland, The Sandbox, and Axie Infinity which have all seen an uptick in user adoption
📅Cardano Smart Contracts This Week📅
It’s full steam ahead for the Cardano smart contracts main net on Sunday September 12th, and ADA pumped up to 3 dollars on the testnet news just as a I had predicted last week
💰BTC Becomes Legal Tender Tomorrow💰
This announcement was initially made back in June during the Bitcoin conference by Jack Mallers, CEO and founder of Strike, the app that ultimately brought about El Salvador’s BTC adoption.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
