Crypto
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Crypto vs. physical: Musk-Saylor inflation debate boils down to scarcity
As rising inflation threatens to eat up further the purchasing power of the global fiat ecosystem, finding the perfect hedge against a falling economy has become the need of the hour — especially for the general public across the world. Joining this discussion online, Tesla CEO Elon Musk asked publicly about the probable inflation rate over the next few years to gauge the notion of global investors. Sharing his thoughts on the matter, American billionaire and MicroStrategy CEO Michael J. Saylor opined that with rising inflation, he expects the capital cash flow will move away from traditional fiat into scarce assets such as Bitcoin (BTC). USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies ...
What is Solana (SOL) Pay, and how does it work?
PayPal was a massive innovation in the payments processing industry. The financial brainchild of Peter Thiel, Max Levchin and eventually, Elon Musk aimed far ahead of its time, facilitating instant payments between customers, businesses and more while utilizing the internet. Solana (SOL) Pay is considered by many to be the next innovation in the payments processing arena, facilitating payments while taking nonfungible tokens (NFTs) and Web3 into account. Some are going so far as to call Solana’s new payment protocol the Visa or PayPal of Web3. This post will break down Solana Pay and how it works so you can decide whether the project is all it’s cracked up to be. But first, it’s vital to understand Solana before getting into the digital payment platform Solana Pay. Related: What is Web3: A...
6 Questions for Joe DiPasquale of BitBull Capital
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Joe DiPasquale, CEO of BitBull Capital — a company that manages a bundle of crypto hedge funds and has access to closed and exclusive funds. Joe DiPasquale is CEO of BitBull Capital, which has managed crypto hedge funds since 2017. Joe founded BitBull because he believes in active management in crypto investments. He has been an investor for 10 different crypto hedge funds, in addition to having run his own active strategies since 2013. Previously, Joe worked in investment management, investment banking, technology and strategy consulting at Deutsche Bank, Bain and McKinsey. He received his BA from...
Here’s how DAOs are making digital land more accessible to Metaverse denizens
Decentralized autonomous organizations (DAOs) are individuals that collectively organize in social applications and blockchains to pursue common goals and interests. As the direction of the Metaverse keeps maturing, DAOs are rallying around the prospect of utilizing and investing in the Metaverse. Seeing that Goldman Sachs placed an $8 trillion valuation on the sector, eyes and ears have peeled into the possibility of accessibility, usability and monetization of these virtual worlds. Owners of digital land in the Metaverse tout some of the most recognizable names like Adidas, Nike, Snoop Dogg and JPMorgan. These entities are investing in the digital land and aligning themselves with the movement toward Web3 to better connect with consumers. However, the biggest barrier to joining the digit...
Weekly Report: Stripe introduces crypto and NFTs support, Goldman Sachs to offer OTC bilateral crypto options
Here are the top headlines from the cryptocurrency space that you might have missed this week: Multinational bank Goldman Sachs wants to offer new OTC crypto options Goldman Sachs is now among several Wall Street banks looking to offer crypto options. The financial services and investment bank revealed this week it has intentions to soon start availing over-the-counter bilateral crypto options for enterprise clients. A recent report by Bloomberg, citing a person familiar with the matter, detailed that the American banking giant is looking to sink its claws deeper into cryptocurrencies. The news outlet said that the individual, who preferred to remain anonymous, observed that Goldman Sachs isn’t the only Wall Street bank exploring bilateral options. The said options enable crypt...
Cryptocurrencies against the ‘silent thief.’ Can Bitcoin protect capital from inflation?
The world is becoming increasingly volatile and uncertain. The assertion that “inflation is the silent thief” is becoming less relevant. In 2021, inflation has turned into a rather loud and brazen robber. Now, inflation is at its highest in the last forty years, already exceeding 5% in Europe and reaching 7.5% in the United States. The conflict between Russia and Ukraine affects futures for gold, wheat, oil, palladium and other commodities. High inflation in the U.S. and Europe has already become a real threat to the capital of tens of thousands of private investors around the world. Last week at the Federal Open Market Committee (FOMC) meeting, Federal Reserve Chairman Jerome Powell said that he would recommend a cautious hike in interest rates. At the same time, Powell mentioned that he ...
Bitcoin drifts into weekly close while Fed rate hike looms as next major BTC price trigger
Bitcoin (BTC) upped the volatility into the weekly close on March 13 as markets braced for geopolitical and macro economic cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Long-awaited Fed action set to come this week Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it again came close to testing $38,000 support during Sunday. The pair had seen a quiet end to the week on Wall Street, the weekend proving similarly calm as the status quo both within and outside crypto continued without surprises. Now, attention was already focusing beyond Sunday’s close, specifically on the upcoming decision on interest rates from the United States Federal Reserve. Due March 16, the extent of the presumed rate hike could provide temporary volatility and even...
Web3 relies on participatory economics, and that is what is missing — Participation
Web3 is hailed as a technology paradigm that is fueled by the creator economy and is in the future, or rather, the next evolution of the internet. As we draw evolutionary comparisons of the technology that underpinned everything from information consumption to content creation, Web2 contributed an unparalleled economic growth and represented a significant era in human evolution with new ways to work, consumer information and progress in human civilization. So with this enormous success of Web2, why is there a need for Web3? As we rethink the internet, which relies primarily on a few centralized entities that have devices, channels of information that feeds the social media, mobile apps and provides connectivity points between service providers and seekers of these services, the control ove...
3 reasons why XRP price could drop 25%-30% in March
XRP price risks dropping by more than 25% in the coming weeks due to a multi-month bearish setup and fears surrounding excessive XRP supply. XRP descending triangle XRP has been consolidating inside a descending triangle pattern since topping out at its second-highest level to date — near $1.98 — in April 2021. In doing so, the XRP/USD pair has left behind a sequence of lower highs on its upper trendline while finding a solid support level around $0.55, as shown in the chart below. XRP/USD weekly candle price chart. Source: TradingView In the week ending March 13, XRP’s price again tested the triangle’s upper trendline as resistance, raising alarms that the coin could undergo another pullback move to the pattern’s support trendline near $0.55, amounting to ...
Bank of Israel issues draft guidelines on cryptocurrency AML/CFT
On Friday, the Bank of Israel published a draft regulation on Anti-Money-Laundering and Combatting the Financing of Terrorism (AML/CFT) risk management for the banks facilitating crypto-to-fiat transactions. The move hints at the Israeli government’s preparations to legalize and regulate the relationship between banks and virtual currency service providers (VASPs). The document cites the customers’ increased involvement with digital assets as the rationale for the new policy: “In view of the increase in customer activity in virtual currencies, and the resulting increase in customer requests to transfer money […] the Banking Supervision Department today published a draft circular dealing with managing AML/CFT risks derived from the provision to customers of payment services relat...
Valkyrie Investments‘ Leah Wald on Bitcoin ETFs and the future of digital assets
Cointelegraph sat down with Leah Wald, CEO of digital asset investment firm Valkyrie Investments, to learn more about the importance of a Bitcoin (BTC) exchange-traded fund (ETF) and the future of digital assets. For context, Valkyrie Investments was launched in 2020 and is one of the only asset managers to have three Bitcoin-adjacent ETFs trading on the Nasdaq. Valkyrie launched a Bitcoin Strategy ETF in October 2021 that offered indirect exposure to BTC with cash-settled futures contracts following a United States Securities and Exchange (SEC) approval for a similar ETF from ProShares. Valkyrie also has a balance sheet opportunities ETF that invests in public companies with exposure to Bitcoin. In addition, the investment firm’s Bitcoin Miners ETF began trading on the Nasdaq o...
Bitcoin derivatives metrics reflect traders’ neutral sentiment, but anything can happen
Bitcoin’s (BTC) last daily close above $45,000 was 66 days ago, but more importantly, the current $39,300 level was first seen on Jan. 7, 2021. The 13 months of boom and bust cycles culminated with BTC price hitting $69,000 on Nov. 10, 2021. It all started with the VanEck spot Bitcoin exchange-traded fund being rejected by the United States Securities and Exchange Commission (SEC) on Nov. 12, 2020. Even though the decision was largely expected, the regulator was harsh and direct on the rationale backing the denial. Curiously, nearly one year later, on Nov. 10, 2021, cryptocurrency markets rallied to an all-time high market capitalization at $3.11 trillion right as U.S. inflation as measured by the CPI index hit 6.2%, a 30-year high. Inflation also had negative consequences on risk ma...
