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Banking institutions open the door to Bitcoin

2 March 2021

Temps de lecture 3 minutes

Julien Moretto

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NFTs are highly valued

The NFTs are trading. They are blockchain tokens representing a single object or file, exchangeable like any other asset.
On the NBA Top Shot platform, fans can pay over $200,000 for unique video footage.
The most important markets for NFTs are currently art, sports, and video games.

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Bitcoin, soon to be a global currency?

Researchers from the research department of banking giant Citi have published a report that indicates that Bitcoin could evolve as an international currency that could simplify current procedures.
The main obstacles, in their view, are scalability and regulation problems.

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Sorare raises 40 million euros

The French company Sorare raises 40 million from several investors, including Antoine Griezmann.
Sorare is a platform selling NFT blockchain tokens representing soccer players, which allows the exchange of these tokens and participation in simulated matches. 3.5 million per month is currently traded on the platform.

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JP Morgan advises to hold Bitcoin

JP Morgan Bank advises its clients to have a 1% exposure to Bitcoin. The asset would allow its clients to protect against fluctuations in other asset portfolios. As a reminder, the bank’s CEO was still threatening in 2017 to fire any employee who would make transactions in cryptoassets.

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Goldman Sachs will reopen its cryptoassets exchange desk

The Goldman Sachs bank is preparing to reopen its exchange office for cyrptoactives. In 2018, the bank had created an exchange office but closed it because of insufficient demand on the market.
This decision signals a widespread renewed interest in cryptoassets, particularly in traditional financial institutions.

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A new record, one year later

The crypto futures market experienced its highest level of liquidation last Monday. Following a corrective phase in the cryptocurrencies market, more than 6 billion dollars were liquidated. This figure is higher than the “Black Thursday” of March 2020 when liquidations amounted to 4 billion dollars.

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Ethereum miners give nothing away

The Ethereum mining pools do not agree on a modification of the protocol.
IEP 1159 would potentially reduce commissions on the Ethereum blockchain, but would reduce miners’ remuneration.
At the moment, the no side is more than 50%, which could presage a status quo that causes problems for the whole network.

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Artist Beeple raises the stakes

Bidding for the digital artwork in the form of NFTs from artist Beeple is $1.9 million today. The artist has been producing one work per day over 5000 days since 2007. Investors still have nine more days to bid.

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Partnership between Balancer and Aave

The Balancer and Aave protocols form a partnership that will allow funds under management at Balancer to be used in part as collateral for credits within the Aave protocol. Version 2 of Balancer will also allow for a single pool of cash to be used for multiple pairs.

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New roadmap for Brave

Browser Brave has released its new roadmap. In addition to bringing new utilities to the BAT token, the team announces the addition of a decentralized exchange aggregator within the browser, allowing users easier access to DeFi, and offering rewards to BAT token owners.

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1inch wants to deploy on Binance Smart Chain

1inch Protocol, the leading aggregator of decentralized foreign exchange platforms, announced plans to deploy its protocol on the Binance Smart Chain. The project team is aware of the challenges of centralizing this network, but is still considering its use because of the low transaction costs it offers. The 1inch team also specifies that they also plan to have their own validator on the BSC.

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A Swiss bank will allow to buy cryptoassets

One of the leading banks in Switzerland, Bordier & Cie, following a partnership with Sygnum, will allow its clients to purchase cryptoassets (BTC, ETH, BCH and XTZ).
According to the bank, the great strength of these assets is that they allow the diversification of its clients’ portfolios.

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A cryptocurrencies category appears on Google Finance

Cryptocurrencies now feature prominently on Google Finance. A new category has appeared on the site, neighboring the American, European, Asian, and currency markets. For the moment, only BTC, ETH, LTC and BCH are present on the Google tool.

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New attack on a DeFi protocol

The Furucumbo protocol, which allows complex actions (swaps, deposits, loans) on various DeFi protocols to be combined and executed in a single transaction, was targeted by an attack that cost it $14 million.
This attack was based on the use of a smart contract masquerading as the Aave v2 protocol, which allowed the attacker to drain funds from certain users.

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Figure of the week

Big companies have invested heavily in Bitcoin

42 companies own 1.3 million bitcoins, or $65 billion.

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