This Week In Crypto – March 28th
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Just as Hal Finney Predicted, Bitcoin Is Being Purchased to Act as a Reserve Currency
It may have already started. There is a bitcoin address that’s rumored to be LFG’s and it looks as if the nonprofit is buying $125 million of BTC every day. For an asset that churns out >$20 billion in volume each day that doesn’t seem like much, but 60 basis points of volume can be meaningful. Kyle Davies of crypto hedge fund Three Arrows Capital indicated as much on Twitter. These daily purchases could also last for months if LFG does in fact want to get to $10 billion of BTC reserves.
This should appeal to anyone who pays attention to crypto. Read More
Crypto Carbon: Can Blockchain Networks Fix Carbon Offsets?
Cryptocurrency has become a boogeyman in conservation circles, but a growing corner of the industry is claiming to have a solution to the climate crisis: crypto carbon credits.
In the coming years, companies from Procter & Gamble (PG) to Nestlé (NSRGY) are vowing to go “carbon neutral,” a feel-good moniker signaling they will prevent as much carbon from entering the atmosphere elsewhere as they emit. Read More
Crypto Robin Hood stole $50 million and says he’ll it donate to charity. But the victims just want their money back
Staring at his computer screen, Blaine couldn’t help but start sweating. The $50,000 in cryptocurrency he once had in his account was now worthless.
Months from getting his law school degree, Blaine, 25, had invested all the money that he had made from trading NFTs over the past year in the hopes of putting it toward starting a life with his fiancé. He had put $50,000 of a stablecoin, USD Coin (USDC), into a liquidity pool of assets for stablecoins USDC and Cashio nine days prior, but when he tried to take his money out on Wednesday it was worth nothing. Read More
EU to Vote on Revised Regulation Targeting Crypto Transfers
The European Parliament is expected to vote on revised anti-money laundering (AML) legislation this week that would force crypto exchanges to share details of their customer’s anonymous transactions.
In a draft report of the EU’s Transfer of Funds Regulation (TFR), policymakers are seeking new amendments that regulate the way unhosted digital wallets are treated within the bloc.
Unhosted wallets, such as Metamask, refer to digital wallets not under the purview of the Financial Action Task Force (FATF) and its definition of a licensed virtual asset service provider (VASP). Read More
