Come every Saturday, Hodler’s digest Helps keep track of all the important news articles that happened this week. Best (and worst) quotes, recruitment and regulatory highlights, major coins, forecasts and more — a week of Cointelegraph with one link.
Top story of the week
Starbucks announces NFT initiative as union-busting controversy continues
Non-fungible tokens continue to be talked about as coffee giant Starbucks recently announced its intention to attend an NFT party. “We plan to enter the NFT business by the end of this year,” Starbucks CEO Howard Schultz said in a Partner Open Forum on Monday.
NFT talks have surfaced in parallel with growing interest in unions led by workers in US stores in the chain. One of the leaders of the union movement, Laila Dalton, was released from Starbucks shortly after the announcement of the NFT. Comments from Schultz show that he is not in favor of the union.
The UK Government is advancing a regulatory framework for stablecoin for payments
The UK Ministry of Finance has shown interest in cryptographic regulations in many respects. The mix included recognition of the potential of Stablecoin as a common payment method, with the goal of adapting asset types to current regulatory guidelines.
“My ambition is to make the UK a global hub for crypto technology. The measures outlined today will help companies invest, innovate and scale up in this country,” said Rishi, Ministry of Finance.・ Snack Prime Minister said.
Treasury Secretary John Glenn said: “If cryptography will be a big part of the future, we want the UK to be on the ground floor.”
Crypto Twitter unites to raise money for cancer treatment for community members
The pseudonym Twitter user “Yopi”, who has been part of the crypto industry since mid-2021, is a gunfighter. After trying chemotherapy, doctors told Yopi that stem cell therapy was needed when the cancer recurred. Yopi’s treatment costs: $ 50,000.
Yopi posted a tweet explaining the situation and encountered a significant reaction from the crypto community. At the time of Cointelegraph’s report, he finally received about $ 74,000 in crypto assets.
ProShares File with SEC for Short Bitcoin Strategy ETFs
On Tuesday, ProShares submitted another type of Bitcoin Exchange Traded Fund (ETF). This allows investors to bet on BTC futures. ProShares has applied for a Short Bitcoin Strategic ETF with the US Securities and Exchange Commission (SEC). Basically, if the price of Bitcoin futures goes down instead of going up, ETF stocks will benefit. These so-called reverse ETFs are designed to perform in opposition to the benchmarks we track and are relatively common in the futures market.
ProShares’ Bitcoin Strategy ETF based on Bitcoin futures was listed in October 2021 after the SEC approved the product. The newly submitted ProShares Short Bitcoin Strategy ETF has a June listing target, which may be delayed due to the SEC’s decision.
Blockstream and Block Inc will build a solar bitcoin mining facility with Tesla technology
A new collaboration between crypto storage companies Blockstream and Jack Dorsey’s Block (formerly Square) will develop a fully solar-powered open-source BTC mining facility.
According to the announcement, the mining facility will be equipped with a 3.8 megawatt Tesla photovoltaic array and a 12 MWh (megawatt hour) lithium-ion battery Tesla Megapack. With this mining facility, both companies will investigate the feasibility of operating a zero-emission energy BTC mine.
Collaboration also sees the development of publicly accessible dashboards. This dashboard shows key metrics such as output, total number of mined BTC, storage performance, costs and return on investment.
Winners and losers
Bitcoin (on weekends)BTC) $ 42,388.53,ether(ETH) so $ 3,207.75 When XRP so $ 0.76..Market capitalization $ 1.96 trillion, according to To CoinMarketCap.
Of the largest 100 cryptocurrencies, the top three altcoin winners this week are Mina (Mina) 17.56%, NEAR protocol (shortly) 16.07% and Convex Finance (CVX) At 10.06%.
Waves are the top three altcoin losers this week (wave) -50.60%, Zilliqa (ZIL) -37.08% and Axie Infinity ((((AXS). -At 29.43%.
Be sure to read more about crypto prices Cointelegraph market analysis..
The most memorable quote
“With global inflation, Bitcoin has the opportunity to become a widely used currency for international payments.”
Chen LeeCEO and co-founder of Youbi Capital
“It is clear that the energy requirements for Bitcoin mining in the world have increased significantly since 2017, but recent literature has shown that due to data gaps and differences in modeling approaches, a wide range of estimates for 2020 (47TWh to 125TWh). ) Is shown. “
The Intergovernmental Panel on Climate Change (IPCC)
“There is no reason to treat the crypto market differently just because different technologies are used.”
Gary GenslerChairman of the US Securities and Exchange Commission
“Imagine where we will be in five years. Almost everyone in Western Europe will have a smartphone wallet on their smartphone and will be able to trade with every restaurant in the world.”
Anthony ScaramucciFounder and Managing Partner of SkyBridge Capital
“The rarity and pristine nature of Bitcoin as collateral may have returned to the foreground.”
“El Salvador is an independent democracy and we respect autonomy, but the United States needs to plan to protect the financial system from the risks of this decision. This is more unthinkable than thoughtful. It’s like a careful bet. Accept innovation. “
Norma TorresUS representative, make Bitcoin legal tender in El Salvador
“If people are struggling to contribute something or run a side project in this area, say” wholeheartedly. ” You get feedback, connections, insights, and experiences. You wouldn’t have dreamed of it. “
MTCFounder of Sats Ledger
This week’s forecast
This time, the reason why the “mid” price decline of Bitcoin will be developed in a different way
Almost every four years, Bitcoin mining payouts per block are cut in half. Called half of Bitcoin, this event is consistent with a four-year price cycle that includes periods of bullish and bearish. However, according to industry participants, this four-year cycle may end.
The pseudonym author “Alerzio” on the Santiment blog pointed out April 11th as a potential sign of a change in the times. Allerzio writes that BTC, which maintains price behavior of over $ 50,000 per coin before or around that date, may be evidence of a different cycle than the previous four years. April 11th is the midpoint between half of the latest BTC and the next half.
This week’s FUD
Australian cryptocurrency “finfluencers” faces strict new legal regulations
The Australian Securities and Investment Commission (ASIC) recently signaled a danger signal for influencers involved in finance. ASIC basically warned influencers, both individuals and companies that employ influencers, to use terms that could be considered financial promotions. Warnings from ASICs specifically refer to finance as opposed to cryptography, but cryptography often falls into the category of finance.
“If someone presents factual information in a way that conveys a recommendation that the product or class of product should (or should not) be invested, it may violate the law by providing unlicensed financial product advice. There is, “says the ASIC information sheet.
Some of the dissenting opinions about this move are related to the lack of clarity about what is considered an economic impact.
Shopify faces another lawsuit from crypto holders over ledger data breaches
A collection of Ledger hardware wallet users has filed proceedings against Ledger, Shopify, and TaskUs. In short, the proceedings allege that the defendant did not take appropriate steps to prevent the leakage of personal data of a significant number of ledger buyers in 2020.
Complaints allege that Ledger and Shopify mislead customers by promoting the “unmatched security” of their products. This is a promise that is incompatible with the current leak. Plaintiffs also alleged that Shopify and TaskUs had been aware of the leak for over a week before alerting their customers. At the time of the leak, Shopify was in charge of Ledger’s online store, and according to legal allegations, TaskUs is a third-party data consultant responsible for handling customer service delegated by Shopify.
The group of ledger users behind legal complaints are seeking specific damages and disclosure of data that was actually leaked.
EU bans Russia from providing “high value crypto asset services”
In an attempt to further curb Russian citizens from using cryptocurrencies to protect their assets during the war in Ukraine, the Council of the European Union bans the country from “providing high-value crypto asset services.” Announced the intention.
Some of the other restrictions proposed by the European Commission this Friday include a ban on transactions and asset freezes related to four Russian banks, and “providing advice on trusts to wealthy Russians.” Includes “Prohibition”.
Just before the council’s announcement, Russian Prime Minister Mikhail Mishustin claimed that Russian entities and individuals possessed more than $ 130 billion in crypto assets.
Best coin telegraph function
Is CBDC Cryptonite for Cryptocurrencies?
“The CBDC is an authoritarian government dream and represents a major setback for consumer privacy.”
What Does Elon Musk’s Investment Mean for Twitter’s Cryptocurrency Plan
Tesla CEO Elon Musk recently bought a 9.2% stake in Twitter, making it the largest stakeholder in social media companies.
Non-hosted are not welcome: EU attacks on unmanaged wallets are part of a larger trend
Regulators on both sides of the Atlantic seem to be nervous about people trading with their wallets.
