News Crypto #01

Yoann Choux – 2 Jun 2020

Cryptocurrencies are coming into eSports.

NACL is an eSports league organized in American universities.
Game winners will now be paid in DAI and ETH, which they can then convert into dollars.
The idea is to make the system more transparent and fair, following payment problems.

New records for Ethereum

The volume of options and derivatives on Ethereum exceeds all records.
This kind of movement indicates that many investors expect sharp price movements, either up or down.
In addition, the number of addresses holding more than 0.1 eth is at an all-time high.

JP Morgan Bank convicted

JP Morgan Bank charged exorbitant commissions to clients who bought cryptomoney.
Following a lawsuit, the bank agreed to reimburse $2.5M of the sums collected.
The bank had qualified these transactions as purchases of foreign currency, which the judge found questionable.

Investment funds are shifting their focus to cryptocurrencies

Investment funds continue to buy cryptocurrencies on a massive scale.
Grayscale has got his hands on more than 18,000 Bitcoins since the halving.
According to the latest report provided by Greyscale, more than 88% of its clients are institutional investors, and the vast majority of investment funds.

Facebook will use its ads to monetize Libra

We now know how Facebook intends to monetize Libra: through Facebook ads.
Merchants will buy advertising space from Facebook through auctions.
Facebook believes this will increase the value that merchants will get from their ads.

China worries about Facebook’s Libra project

“Discussing Digital Currency with Leading Officials” : The title of a new book written by the Central School of the Chinese Communist Party.
It deals with topics such as CBDCs (Central Bank Digital Currency), international payments system, cryptomoney, ICOs, stablecoins.
In particular, the party considers the Libra project as a threat to the Chinese payment system and the yuan.

Palkadot launches his mainnet

Polkadot launches its mainnet and tries to solve the interoperability problems of the blockchains.
This project is close to the Cosmos project in its approach and objective.
It is led, among others, by Gavin Wood, co-founder of Ethereum and president of the Web3 Foundation.
It is being launched in several phases. Currently DOT holders cannot yet move their tokens.

Goldman Sachs does not recognize cryptocurrencies as a new asset class

According to the Goldman Sachs Bank, cryptocurrencies are not a new asset class.
Why is that? Because they do not generate profits in line with the growth of the global economy, according to a presentation made to its clients.
Many analysts have questioned the arguments used, which seemed relatively simplistic.

Google partners with Theta Labs

Google signs a partnership with Theta Labs.
Theta Network is a decentralized video streaming platform.
This project is very similar to the Livepeer project (https://bit.ly/2XoVv72) which we don’t hear much about anymore.
Google Cloud joins the project as the fifth validator of the network, which made the course of Theta explode.

It’s time for conservation

Exodus of BTCs held in marketplaces since the crash of March 12.
The Bitcoin “whales” seem to be withdrawing their assets to put them in cold storage.
This is a positive signal that the time has come for hodling rather than regular trading.

The MKR token on the Coinbase Pro marketplace

MakerDAO’s MKR token is listed on the Coinbase Pro marketplace.
From June 8, the trading pairs MKRUSD and MKRBTC will be available.
MKR lacks access points, and is mainly available on decentralized marketplaces.
The token jumped more than 50% in 24 hours following this announcement.

One White Paper for one digital dollar published

A White Paper for a Digital Dollar was published by the Digital Dollar Foundation and Accenture.
The objectives: one dollar retained as a global store of value, improved transaction processing times and costs, better access to central bank money and payments

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