According to JP Morgan, the gold market could suffer because of Bitcoin

Yoann Choux – 15 Dec 2020

MassMutual buys $100 million in Bitcoin

The American insurer MassMutual buys 100 million dollars worth of Bitcoin.
The company, which specializes in life insurance, currently has a portfolio of 235 billion.
It also took the opportunity to invest 5 million in NYDIG, the company that enabled it to make this investment, which currently has 2.3 billion under management.

Debate in the United States

U.S. lawmakers are calling on the government not to legislate on cryptoactive wallets.
A few weeks ago, there were rumors of a possible ban on personal wallets for storing cryptocurrencies.
In an open letter, the parliamentarians ask for no last-minute legislation, and recommend a “regulatory parity” between cryptos and traditional assets.

Proposal for Maker regarding AAVE

Maker’s governance initiated the proposal to add the AAVE token, as well as two Uniswap LP tokens as collateral.
This proposal will be submitted to the vote of the MKR token owners in the near future.
This follows the move to add the BAL and YFI tokens earlier in 2020.

JP Morgan thinks Bitcoin will make gold suffer

According to JP Morgan, the gold market will suffer for years because of Bitcoin.
In an analysis, the bank compares the $2 billion that has been added to the Grayscale fund since October 2020 to the $7 billion that has left the gold-based funds.
The bank believes that this trend could be sustainable and impact the gold price in the long term.

Curv now offers a new solution

Curv will propose its new solution to allow institutions to have access to DeFi protocols.
The partnership between Curv and Consensys, which enabled Curv to offer the Compound service to its customers earlier this year, will allow Curv to use the Metamask interface to provide simple access to DeFi protocols.

20,000 transactions in digital yuan

During trials in China for the digital yuan, the e-commerce platform JD.com announced nearly 20,000 transactions with the digital yuan on its platform in one day.
This is part of the latest initiative to test China’s digital currency, and follows the distribution of digital yuan within the city of Suzhou in the form of a lottery.

Formerly lost bitcoins redistributed

MtGox customers could recover $2.6 billion in bitcoin.
700,000 bitcoins had been stolen at the end of 2013 from the Japanese exchange, which has since closed.
The remaining 140,000 bitcoins will be distributed to customers in proportion to their lost investments.

Figures of the week

Increase of options on Ethereum

Ethereum options increased by 153% between October and November ($1.76 billion in November).

New record for Uniswap

Uniswap volume breaks new records, exceeding $50 billion. Le volume sur Uniswap bat de nouveaux records, dépassant 50 milliards de dollars.

Colombia and Venezuela, a large share of the cryptos exchanges

Colombia and Venezuela now account for 23% of cryptos exchanged between individuals.

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