All anyone can talk about is the ‘blood in the streets’ in the aftermath of the GameStop fiasco. Hedge fund managers have been put on warning by shitposters. You love to see it.
There was plenty going on in crypto yesterday too although you may have missed it in the GameStop furore. Francis Suarez, the pro-crypto Mayor of Miami endeared himself to the community further by having the city upload a copy of the bitcoin white paper to the municipal website. Suarez is seizing the moment in crypto unlike any other public official, determined to make Miami the Silicon Valley of crypto.
In an interesting twist, Mayor of Reno Hillary Schieve seemed to confirm herself as a proponent of Chainlink. In response to Mayor Francis’ tweet she asked when he would become a LINK Marine. Whatever your opinion on the future of politics in the world of mass crypto adoption, these kind of overtures can only mean increased exposure and awareness.
For balance, Janet Yellen was confirmed as Biden’s Treasury Secretary. Yellen’s position on crypto could be described as luke warm at best. It remains to be seen what her appointment will bring but tougher regulation could be on the cards.
Billionaire Mark Cuban weighed in on crypto again, this time lauding the potential of NFTs (non-fungible tokens- artwork, merchandise etc.) Cuban’s position on bitcoin and crypto in general has been somewhat difficult to pin down as he oscillates between a believer to someone who sees it as a bubble. NFTs are a growing sector in crypto and well worth checking out.
In the investment world, the largest Canadian IPO for a Bitcoin trust was raised by Ninepoint Partners. Such trusts are attractive to investors who are worried about missing the boat on crypto but who aren’t yet prepared to actually buy and store cryptocurrency themselves. With Fed Chair Powell looking to keep interest rates low and welcoming higher inflation, more and more investors may continue to turn to cryptocurrency for the potential of greater returns over the coming year.
While overall crypto markets have been taking a hit the past week or so a couple of Defi projects have bucked the trend. None more so than Uniswap, the native token of the Decentralised Exchange of the same name. It has risen 92% in one week. An airdrop of 400 tokens to users of the platform is now worth $6,000. Sometimes it pays to keep your ear to the ground on those airdrops guys.
Right, that’s your lot.
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