Monday, September 6th, 2021 |
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Your Weekly Update On All Things Crypto |
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Ripple Seeks Evidence of SEC Employees Trading XRP |
The latest chapter of the Ripple vs. SEC saga was written last week when Ripple filed a petition to force the SEC to provide evidence detailing the trading behaviour of its employees as it pertains to BTC, ETH, and XRP. Ripple wants to know if SEC employees were actively holding or trading XRP. The letter additionally acknowledged that the defendant had already sought to obtain the anonymized trading records four times from the SEC and made no progress. The Significance As per the defendant's legal counsel, Ripple wishes to learn about the SEC's trading regulations regarding ‘regulating digital assets, as well as if the agency permitted its personnel to trade XRP. The court approved Ripple's request to force the SEC to submit such documents back in June. Moreover, the regulator accordingly issued a guideline titled "Ethics Guidance Regarding Digital Assets" at the start of 2018. It demonstrated that, up until January 2018, the agency had not prohibited its employees from dealing in cryptocurrencies. This, according to Ripple, is congruent with the SEC's stance that digital assets would generally not be viewed as securities, and so the entire lawsuit’s integrity and credibility are hence called into question. Judge Netburn Goes Back and Forth Netburn's judgment came at the end of a recent phone call, which intended to make progress and move past a disagreement over Ripple's petition for 'fair use' access to confidential SEC information and documentation. Judge Netburn will now take part in an on-camera study of the internal papers without the presence of Ripple's legal team in an attempt to determine if the SEC crossed a line in terms of deliberative process procedures. The abovementioned messages involve conversations about Ripple's goals of creating speculative trading via XRP, as well as the impact of Ripple announcements, efforts, and various concerns about XRP's price. The SEC is also interested in the connection and overall significance of XRP sales regarding Ripple's business activities, in addition to XRP’s regulatory status. |
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Twitter Looks to Rollout Bitcoin Tipping for Content Creators on its Platform |
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Jack Dorsey and Twitter seem poised to deliver on the challenge posed by Elon Musk in their conversation at the B-Word conference , by integrating Bitcoin into payment methods for tipping of content creators on the social network. Twitter is reported to have included code in recent software update that indicates Bitcoin will be added to the Tip jar, joining Cash App, PayPal and Venmo as payment options. Jack spoke of his vision for Bitcoin implementation for his businesses in the B-Word, confronting Elon Musk with facts surrounding Bitcoin's true use of renewable energy, and Tesla's current position regarding accepting it as payment. Faced with the grounded in fact arguments Elon shifted the focus of the conversation by calling out Jack to move forward with Bitcoin acceptance in his businesses. Though Jack seemed to dodge answering the callout directly, his acknowledgement and smile provided a glimpse of his intent. Well Elon that Bitcoin adoption channel seems to be in the works, your move.
This move by Twitter to lay the ground work for Bitcoin acceptance on the platform is just the tip of the iceberg for Jack Dorsey and his companies. In August it was announced that Twitter and Square also had plans to build out a decentralized Bitcoin exchange, develop Bitcoin educational material, and plans for Square to roll out an assisted custody hardware wallet. Jack is moving forward with his plans and vision of Bitcoin as a key component of his future, and diving deep to explore the possibilities within his business lines.
Though he did not speak to his exact intentions for Bitcoin integration in the B-Word, he did indicate things were in the works, and Jack Dorsey's commitment to the best principles of Bitcoin were very well expressed. As mentioned in our earlier article, the B-Word was an explorative conversation between some forward thinking, influential minds, who can and are effecting adoption of Bitcoin for the right reasons. We like Jack Dorsey and his efforts developing creative and groundbreaking use cases for Bitcoin. Hopefully these latest announcements will spur Elon and Tesla to ante up, and also again accept Bitcoin payments.
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Protocol Wars: Competition Heats up for Ethereum as Competitors Gain Traction |
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It's hard to argue that Ethereum (ETH) currently reigns supreme as the king of the altcoins, but does this mean that its dominance is unchallengeable? We have borne witness to quite a few altcoins spike both in price and value recently, to the point that it has left several crypto enthusiasts to wonder about whether Ethereum will stay atop the altcoin mountain or if it will eventually be overtaken by one of its main competitors. Here's are our top three picks in the battle against Ethereum for base-layer supremacy.
Solana (SOL) Solana has lately skyrocketed in popularity as the cryptocurrency's price continues to rise to new all-time highs. SOL was selling at around $30 a little over a month ago and the current price is a bit around $150, which is a phenomenal amount of growth, to say the least. Bandwidth and transaction costs are two issues that have often hampered cryptocurrencies. Solana overcomes both of these by enabling over 70,000 transactions per second at a low cost. It has additionally managed to perform more transactions since its debut in 2017 than that of Ethereum. Moreover, Solana's transaction speed and bandwidth make it ideal for general usage as well as the creation of exchanges and platforms on top of it. Like Ethereum, Solana could soon begin burning tokens and like Cardano, smart contracts may be added soon too. Solanart, the project’s NFT marketplace, had additionally managed to reach a new milestone of a million SOL in total volume. Make no mistake about it, Solana is highly scalable and a top contender that can certainly challenge Ethereum’s dominance.
Cardano (ADA) Currently sitting in the top three cryptocurrencies by market capitalization, Cardano (ADA) is only beaten by both Bitcoin (BTC) and its rival Ethereum. However, this is not to say that Charles Hoskinson’s project hasn’t been successful, far from it in fact. ADA was trading at less than $0.5 just over a year ago, which makes its recent growth all the more spectacular as it lately reached over $3 to set a new all-time high. With the Alonzo hard fork expected to occur on September 12 th, we shall leave the ‘Shelley’ era behind and enter ‘Goguen’, during which the highly anticipated smart contract capabilities will finally be added to the network. Once this happens, the developers will be allowed to build decentralized applications (dApps) on top of Cardano. Hoskinson is a former co-founder of Ethereum and while he has praised Vitalik Buterin for his work, it would not be a far-fetched assumption to say that Charles wouldn’t want to challenge the altcoin king’s dominance given his checkered history with it. Polkadot (DOT) Polkadot may be defined as a platform that enables several blockchains to communicate messages, particularly value, in a trust-less manner, while sharing their unique features and pooling their security. In a nutshell, it is a scalable heterogeneous multi-chain technology.
Polkadot seems to be heterogeneous primarily because it is completely adaptable and makes no assumptions about the type or structure of the network's links. All non-blockchain systems could become parachains if certain requirements are met. Polkadot is similar to a collection of separate chains (such as Ethereum or Bitcoin), but with two significant additions, namely trust-free interchain transact ability and pooled security. Currently, DOT’s price is $33 per token, and while Polkadot has dropped down the ranks a bit, it is still in the top ten cryptocurrencies by market cap. Like Cardano, Polkadot was founded by a former Ethereum co-founder, Gavin Wood. |
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Bitcoin Brakes Through Critical Resistance at $50K, Little Resistance Until $60K |
Altcoin Dominance Trends Towards Levels Not Seen Since May 2018 |
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BTC Media, the organizer of the world’s largest Bitcoin conference, has released details about the expanded 2022 version of the event. Bitcoin 2022 is scheduled for April 6 to April 9 in Miami.
Bitcoin 2021 saw more than 12,000 attendees descend upon Miami and organizers expect Bitcoin 2022 to play host to more than 30,000 Bitcoiners from around the world and millions more who will tune in to the multi-language live stream. The four-day event will feature an industry day, two general conference days, and a one-day “Sound Money Fest” music festival. It will unite founders, C-suite executives, bitcoin experts, and newcomers in Miami for panels and discussions networking events, live performances, entertainment, and giveaways.
Bitcoin 2022 Industry Day on April 6 will be where the Bitcoin ecosystem converges with legacy finance, fintech, and energy infrastructure, including content tracks and targeted networking tracks for institutional finance, institutional bitcoin mining, and Bitcoin technical development. Industry Day will host more than 6,000 global industry leaders, 80 speakers, 4,000 companies, and a pitch day serving as a platform for the next generation of Bitcoin startups. Tickets are now on sale, with three tiers of access announced: General Admission (April 7-9), Industry Pass (April 6-9), and Whale Pass (April 6-9).
The Whale Pass is the event’s most exclusive ticket, granting VIP access across all four days of the conference and including premium food and beverage, exclusive networking opportunities and matchmaking, dedicated transportation and concierge services, front-row seating, and access to Whale Night parties. Whale Passes for Bitcoin 2021 sold out after topping out at $21,000 per ticket.
Organizers are also offering gratis and subsidized tickets to open-source Bitcoin contributors and students. More details coming soon.
“At Bitcoin 2021, we booed, we cheered, we laughed and we cried,” said BTC Media CEO and event organizer David Bailey. “The conference ran the emotional gamut, and our 2022 pilgrimage will do the same. This conference is going to capture the world’s attention. Let’s show them what freedom, sovereignty, and prosperity really mean. Get your tickets today, and we’ll see you in Miami.”
If you are interested in partnering, speaking, volunteering, or would like to discuss other ways to be involved in the event, contactthe team.
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TOKEN2049 is the premier crypto event, organized annually in Hong Kong and London, where founders and executives of the leading crypto and blockchain companies share their views on the market. We shine a light on the global developments while taking a unique and widening perspective on the ecosystem and its vast opportunities. Meet the pioneers, the early believers, highly influential and established opinion leaders. TOKEN2049 brings together the global crypto industry, uniting entrepreneurs, investors, developers, industry enthusiasts, and global media - and creates unparalleled networking opportunities. This is the community that will define what’s next in the space.
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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space. |
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