- Alex Tabarrok with a sobering note on the untapped potential in Crypto and DeFi:
Bottom line is that crypto is still waiting for the killer app which will make it 21st century infrastructure but there has been tremendous scientific progress in blockchains since the ur-date, 1/3/2009. Modern platforms like Elrond are faster, more robust, and more powerful than past platforms and the potential is there for transformative growth.
- An Ecuadorean presidential candidate wants to mint a gold-backed cryptocurrency. Probably unlikely, but it is a logical step for some third-world country to take at some point.
- With Bitcoin and Ethereum representing 86% of total cryptocurrency market value, is the space destined to be dominated by those two while all other altcoins will remain a sideshow? That seems to be the current thinking of institutional investors dipping their toes in the Crypto waters.
- Grayscale buying almost $600m worth of Bitcoin in 24 hours.
- Crypto-informed ex Goldmanite Gary Gensler confirmed as next SEC Chair, probably shortening the odds for approval of Bitcoin ETFs in the US.
- Meanwhile in Switzerland a Bitcoin ETP is being launched.
- More on the “Is Tether acting in good faith?” debate.
- Bitcoin’s energy consumption is not “wasteful.”
Western Decline 