Coinbase announces NFT waitlist, FTX expands to Solana based NFTs |
|
Coinbase is breaking into the market for NFTs, announcing Tuesday the waitlist for access to Coinbase NFT. (You can sign up for the waitlist and get a sneakpeek of everything here.)
The new offering will allow users to mint, purchase, and showcase NFTs. To start, it will support Ethereum-based NFTs, but it has plans to expand to other chains after it launches.
Meanwhile, crypto exchange FTX-US announced on Monday the fully-fledged launch of its marketplace for Solana-based NFTs, and Binance continues to build out Binance NFT.
It seems that the exchanges want a piece of the action after watching marketplaces such as OpenSea explode in volume (see Deep Dives section).
|
|
Make Up Your Mind, Jamie... |
|
| Jamie Dimon, the CEO of JPMorgan Chase, has once again sparked a backlash from the crypto community over his statements on Bitcoin.
Speaking at an Institute of International Finance event on Monday, Dimon called Bitcoin “worthless,” stressing, however, that JPM clients "disagree."
He added: “I'll just challenge the group to one other thing: how do you know it ends at 21 million? ...You all read the algorithms? You guys all believe that? I don't know, I've always been a skeptic of stuff like that.”
As you can imagine, the crypto community was quick to react. Brain Armstrong of Coinbase, Michael Saylor of MicroStrategy, and Michael Novogratz of Galaxy Digital all had a word on the matter.
At the end of the day, what gives. Consider this timeline of Mr. Dimon's comments, then go ahead and pull up a chart since the bickering started.
2014: “terrible store of value”
2015: “will not survive” “will be stopped”
2016: "going nowhere"
2017: "a fraud"
2018: "don't really give a sh*t"
2019: [JPMCoin launch]
2020: “not my cup of tea”
2021: “I have no interest in it” “fool’s gold” “worthless”
We too are a skeptic of things we have made no effort to understand and which will likely obsolete us!
Related: JPMorgan: Institutions Are Rotating Out Of Gold Into Bitcoin As A Better Inflation Hedge
|
|
Digital currency in your 401(k)? Now you can and why you should |
|
How much of your digital currency profits will go to capital gains taxes? Probably too much, but now you have a choice. You can eliminate capital gains taxes on digital currency profits with the Alt401(k) from ForUsAll and Coinbase. By using after-tax contributions for your digital currency investments, you can buy, hold, and trade those assets in a retirement plan, making future gains tax-free. That can mean a big boost for your retirement.
The Alt401(k) adds potentially higher growth than traditional retirement investments, like stocks and bonds, without significantly adding risk. That’s because, historically, digital currencies haven’t gone up and down at the same time as stocks and bonds. And because digital assets in the Alt401(k) are held in offline cold storage, they’re safe from online hacking.
Read the eBook to learn more. |
|
*To be fully tax exempt and subject to withdrawal without penalty, you must meet the 5 year rule for the initial Roth deferral and you must be at least 59 1/2 years old. ForUsAll does not provide tax advice and the tax laws could change in the future. Consult your retirement plan provider or your accountant for details.
|
|
Anyone Seen Tether’s Billions? |
|
Alright... Tether. We've covered it many, many times in this newsletter.
For all of our new readers out there, the story is that Tether (a stablecoin that’s supposed to be worth $1 because it’s backed by real U.S. dollars) has grown to have 69 billion in circulation. Simple math would tell you that means they should have $69 billion dollars in reserves. Except, maybe they don't?
Despite the company’s assurances that the money is safe, exactly what’s behind Tether has been a mystery.
So a writer from Bloomberg set out to solve the mystery. The money trail led from Taiwan to Puerto Rico, the French Riviera, mainland China, and the Bahamas.
Check out the full story to learn how Tether was dreamed up by a former Mighty Ducks child actor, run by an Italian ex-plastic surgeon, and banked with the co-creator of Inspector Gadget.
|
|
OpenSea: The Reasonable Revolutionary |
|
The Generalist continues hitting it out of the park with their deep dives into crypto companies. This week, we have an exploration into the NFT marketplace OpenSea.
Read this to learn about the reality of NFTs, how OpenSea weathered the crypto bear market, how it commands 90%+ of the NFT market, and what the frontier looks like for OpenSea as large exchanges begin to enter the NFT market.
|
|
The Quest For Digital Cash |
|
Alex Gladstein's new essay follows the evolution of eCash to Bitcoin, the career of pioneering cryptographer Adam Back, and the ongoing Cypherpunk struggle to fight for freedom and privacy via open-source code instead of asking the state for permission.
|
|
Wine Investment for Everyone |
|
Vint is democratizing wine investment through transparency, accessibility, and education. We offer fractional shares of collections of the world's best wines. Today's collection features rare access to 2020 Bordeaux Futures, some of the most highly allocated wine and hard to access wine investments in the world. You won't want to miss out. Invest today!
|
|
Unpopular Opinion: El Salvador President Mr Nayab Bukele should not be praised by Crypto community |
|
| Ethereum creator Vitalik Buterin criticized El Salvador president Nayib Bukele on Friday for forcing businesses in the country to adopt bitcoin. Buterin also called out "Bitcoin maximalists" for supporting Bukele.
His Point: "Making it mandatory for businesses to accept a specific cryptocurrency is contrary to the ideals of freedom that are supposed to be so important to the crypto space," Buterin wrote in a Reddit post.
Related: El Salvador Sees Rise In Identity Theft As Scammers Steal Personal Data To Get $30 Bitcoin Bonus
|
|
Senator Ted Cruz Talks Bitcoin |
|
Regardless of how you feel about Senator Cruz's politics, you have to admit it is refreshing to hear from someone in DC who really gets Bitcoin, its role in preserving freedom in the Digital Age, and how the Bitcoin mining industry could revolutionize the energy sector.
If anything, this is a great conversation to watch because you will come away having a better understanding of how most of the politicians in DC view Bitcoin.
|
|
Other Content You Might Enjoy |
|
[Podcast] Solana Founder Talks to Jason Calacanis
Stronghold Digital Mining Expects Valuation Around $1B Ahead of IPO
Bill Miller is ‘Willing to Go Over the Waterfall’ with Bitcoin
Research: The growth of the Lightning Network
Google Partners With Bitcoin and Crypto Marketplace Bakkt
Stripe is hiring a crypto team
A quick thread on key indicators and near-term catalysts leading to BTC’s growing strength |
|
|
|
