This Week in Crypto: Binance, Paraguay, Cardano & More!!
🏦Banks Cut Off Binance🏦
Two of the biggest banks in the UK have blocked payments to Binance. The two announcements came just days apart, with Barclays taking the lead and Santander following suit This could put a small dent in the crypto market and a big dent in Binance given that Barclays and Santander have nearly 40 million clients combined in the UK alone ⚖Paraguay Bitcoin Bill⚖ While the contents of the Bitcoin bill are not yet known, previous comments by the congressman who’s spearheading the initiative suggest that it will concern Bitcoin mining and crypto company incentives According to a CoinDesk interview with said politician, if this first Bitcoin bill is successful, there will be a second one to make BTC legal tender in the country
©Circle To Go Public, China FUD©
Circle will be going public AKA listing on the New York Stock Exchange through something called a special purpose acquisition company or SPAC An increased demand for Circle’s USDC will also dampen the concerns around Tether’s USDT which seem to have resurfaced as of late, with China warning stablecoins are a threat to financial stability
💱Ethereum Adoption, Updates💱
Last week a crypto focused bank in Switzerland called Sygnum became the first bank in the world to offer ETH staking on Ethereum 2.0 to its clients Ernst & Young also created a zero-knowledge layer 2 for Ethereum dubbed Nightfall 3. They have made the code open source
👨💻Cardano Smart Contracts Date👨💻
In a recent video, Charles Hoskinson explained that we should see smart contracts go live in September, which is not far off from the initial August timeline given earlier this year
🛠400M BTC Recovery Progress🛠
James has found a hedge fund to cover all the costs associated with the safe extraction of his hard drive from the landfill its sitting in The only thing stopping James from digging up the drive is the city council which has refused the operation on environmental grounds
🌦Weekly Crypto Market Forecast🌦
Multiple bullish signals are flashing for Bitcoin. This week’s winners are Axie Infinity, Kucoin Shares, Flow, Stacks, and Terra
📜 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.