This Week in Crypto: Dogecoin, AVAX, BTC Millions & More!!
🐶The Dogecoin Foundation Is Back🐶
In a short announcement last week, the Dogecoin Foundation detailed its new constituents and plans to support Dogecoin development, ‘protect the dogecoin brand’, and raise funds to put these plans into action. 🖨Federal Reserve To Reduce Spending🖨 If the FED tapers i.e. reduces their bond purchases, the interest rates on debt will rise, and this means that anyone who’s borrowed too much money will instantly get rekt because they can’t afford to pay off their debt payments.
💰Companies Buy Millions In Crypto💰
The best part is that Coinbase is not just buying BTC, but also altcoins. Though Ethereum is the only altcoin Coinbase mentions by name, their announcement makes it easy to guess what the others probably are.
🏪Microsoft And Walmart Crypto Adoption🏪
Walmart is looking for a digital currency and cryptocurrency product lead who will ‘Identify Crypto related investment and partnerships’ among other things Microsoft’s Ethereum piracy protocol is titled Argus, and it involves an extremely elaborate set of incentives and tracing mechanisms that could be easily replaced with NFT technology
⚖DeFi Regulations Incoming⚖
For what must be the third week in a row, SEC chairman Gary Gensler has been taking swipes at DeFi during his public appearances. The most recent of these took place last week when Gary told the Wall Street Journal that most DeFi protocols are centralized and will have to register with the SEC
👨💻Binance Mandates KYC👨💻
Thankfully this new requirement will be implemented gradually between now and October to all existing Binance users and they will be notified well in advance as to when they need to comply or fly. Unfortunately, new Binance users must complete KYC to do anything at all
💱Monero Completes Atomic Swaps💱
Atomic swaps have been a holy grain for Monero for a very long time because it’s expected that XMR will eventually become impossible to purchase on cryptocurrency exchanges due to its privacy protection
☀Weekly Crypto Market Forecast☀
Bitcoin will likely continue rallying in the week ahead. This week’s winners are Avalanche, Audius, Arweave, Near Protocol, and Fantom.
📜 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.