分类： Virtual Currencies

While digital assets suffered losses, most traditional asset classes climbed higher during the day. The 10-year U.S. bond yields fell 10 basis points, while gold was up 1.5% to $2,450, slightly below its record-highs and WTI crude oil prices surged 5%. Equities also soared during the day, with the tech-heavy Nasdaq 100 index rebounding 3% and the S&P 500 closing the session 2.2% higher, led by chipmaker giant Nvidia’s (NVDA) 12% gains.

In this week’s issue of CoinDesk’s newsletter on blockchain tech, we examine U.S. Senator Cynthia Lummis’s call for a national “Bitcoin Strategic Reserve.” We’ve also got photos from the Bitcoin Nashville conference, where it seemed like nearly everyone was talking about staple-gunning layer-2 networks onto the original blockchain.

Lawmakers in Europe and California are worried about that open-source AI is “dangerous.” On the contrary — there is nothing dangerous about transparency.

Tether Investments, the entity established as a separate division from the stablecoin business to manage the company’s growing foray into bitcoin(BTC)mining, artificial intelligence and other investments, has a $6.2 billion net equity value, per the attestation.

In the minutes following the more hawkish than expected statement, bond yields and the dollar rose a bit, but both remained lower for the day. The price of bitcoin(BTC)edged lower to $66,550, but remained modestly higher over the past 24 hours. U.S. stocks remained sharply higher for the session, the Nasdaq up 2.4% and S&P 500 1.6%.

The specter of potential enforcement actions against NFT projects has “unleashed a chilling effect over NFT artists across the [U.S.],” according to the complaint. The plaintiffs in the case, conceptual artist and law professor Brian Frye, and musical artist Jonathan Mann, also known as “Song a Day Mann,” are each holding back a ready-to-go NFT project until a court grants them protection from the “credible threat” of a future investigation or litigation by the SEC, which their lawyers claim would be which would be “economically devastating to [their] artistic endeavors.”

Although crypto history is short, with Bitcoin celebrating its 15th birthday this year, we have already experienced three major cycles: 2011-2013, 2015-2017, and 2019-2021. The short cycle time is not surprising given the crypto market trades 24/7, about five times more than the equity market. The 2011-2013 cycle was predominantly about BTC, as ETH launched in 2015. Analyzing the past two cycles reveals patterns that help us understand the anatomy of a crypto bull market. With the market warming up to the U.S. election and improved liquidity outlook, history might rhyme again.

There is significant opportunity for TradFi firms to drive meaningful revenue by extending new services to existing clients, as well as crypto native/FinTech firms to offer more institutional-focused capabilities. Those that move quickly will reap the benefits. Of survey respondents, 54% of institutional investors and 64% of retail investors plan to increase allocations, representing a significant upside over current money invested. Institutional investors largely seek a multi-custodian model to manage their digital assets, and beyond custody, want services like connectivity to more liquidity providers, the ability to lend/borrow against their crypto and prime brokerage services — in short, the services they receive from TradFi firms for traditional assets currently.

Daylight’s testnet will allow users to plug in distributed energy devices such as smart thermostats, solar inverters, batteries, electric vehicles and chargers and energy monitors.

The world’s best-performing tech stocks have bled an average $125 billion market cap per day for the past 20 days while crypto market cap has risen 11%.