Welcome to The Daily Forkast, November 26th, 2021, presented by Megha Chaddah. For the latest in blockchain & crypto news. On today's show:
00:00 Coming Up
00:39 USDT issuer Tether says it is happy to work with policy makers.
01:51 Metaverse linked tokens on a roll.
03:59 Soccer star gets yellow card for Binance promo tweet.
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First up, Tether, the issuer of the world's most popular stablecoin - USDT, says it is happy to work with policy makers. The U.S. Senate Banking Committee sent several stablecoin issuers a letter earlier this week inquiring about their operational features. Tether responded in a series of tweets, saying collaboration is critical for building the industry and that it is dedicated to ensuring customers are properly protected. Ron Hammond of the Blockchain Association has said the letters are likely the sign of an upcoming hearing on stablecoins.
Meanwhile, according to The Australian Financial Review, the Reserve Bank of Australia says it is considering the creation of a CBDC for use in wholesale markets. Earlier this week, the bank's assistant governor, Michelle Bullock, said CBDCs could reduce the cost of cross-border payments and that institutional interest in the technology is growing. The RBA is already part of an international group of central banks participating in Project Dunbar, testing the use of CBDC for international settlements.
Over in the markets, metaverse related tokens are on a roll. However, while a partnership to push the metaverse with Adidas Originals has helped the Sand token so it's proved more of a damp squid for Coinbase. The Metaverse has been the hottest trend in tech of late, and tokens attached to metaverse projects are reflecting just that. One expert told Forkast.News that a lot of projects that have been years in the making are finally coming to market alongside a wave of interest in the sector. According to CoinMarketCap, both Sandboxe's Sand and Decentraland's Mana have gained over 600% in the past month, reaching all time highs of US$8.51US$5.90 respectively on Thursday. Decentraland growth has seen its market cap hit US$9.2 billion overtaking the Axie Infinity Governance Token AXS, to become the number one play-to-earn token. The Sandbox, which is a platform built on the Ethereum chain, allows users to explore virtual world using non-fungible tokens is one of a suite of games offered by Hong Kong based unicorn Animoca Brands. Its Sand token got a booster when sportswear giant Adidas said it was developing an "Adiverse" with the platform. Adidas has also announced another crypto related partnership with the exchange Coinbase. While details are scarce so far, some have speculated this could be a step towards the company accepting cryptocurrency payments for its goods.
However, its sarcastic tweet saying the deal was probably nothing doesn't seem to have helped Coinbase's share price, having fallen around 12% since early in the month, according to MarketWatch. Elsewhere on the market, some industry watchers are expecting a rise in Bitcoin's price volatility, with major exchanges due to settle monthly options totaling nearly US$3 billion on Friday. With Deribit settling US$2.6 billion of that alone.
A tweet by Andres Iniesta promoting the crypto exchange Binance has resulted in a yellow card from the Spanish markets regulator. It's unclear whether it was a paid promotion. However, the Japanese J1 League player is no stranger to Blockchain technology. Iniesta tweeted "I'm learning how to get started with crypto with Binance" alongside pictures of himself using Binance on his laptop and mobile. The former FC Barcelona and current midfielder for Japan's Vissel Kobe has more than 25 million followers on Twitter. Iniesta's tweet was retweeted more than a thousand times, while the same post garnered over 340,000 likes on Instagram. This prompted a response from the National Securities Market Commission of Spain, warning readers that crypto assets being unregulated products carry some significant risks. However, this isn't Iniesta's first encounter with blockchain, along with two other former Barcelona stars, Carles Puyol and Ivan de la Pena, Iniesta co-founded Olyseum, a blockchain powered networking platform for sports fans. Meanwhile, other teams and players are experimenting with NFTs. Back in September, major soccer team Paris Saint-Germain partnered with Crypto.com to launch NFTs for its fans. And over in China, Nasdaq listed internet company The Nine Limited signed an exclusive agreement with Korean soccer players Son Heung Min currently playing for Tottenham Hotspur FC in the Premier League, to release premium NFT collectibles. While some may be playing it, a little close to the edge seems the blockchain arena is fast becoming soccer's new playing field.
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#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Decentraland #Axie #Metaverse #Adidas #Ethereum #Coinbase #AndresIniesta #USDT #CBDC
00:00 Coming Up
00:39 USDT issuer Tether says it is happy to work with policy makers.
01:51 Metaverse linked tokens on a roll.
03:59 Soccer star gets yellow card for Binance promo tweet.
---
First up, Tether, the issuer of the world's most popular stablecoin - USDT, says it is happy to work with policy makers. The U.S. Senate Banking Committee sent several stablecoin issuers a letter earlier this week inquiring about their operational features. Tether responded in a series of tweets, saying collaboration is critical for building the industry and that it is dedicated to ensuring customers are properly protected. Ron Hammond of the Blockchain Association has said the letters are likely the sign of an upcoming hearing on stablecoins.
Meanwhile, according to The Australian Financial Review, the Reserve Bank of Australia says it is considering the creation of a CBDC for use in wholesale markets. Earlier this week, the bank's assistant governor, Michelle Bullock, said CBDCs could reduce the cost of cross-border payments and that institutional interest in the technology is growing. The RBA is already part of an international group of central banks participating in Project Dunbar, testing the use of CBDC for international settlements.
Over in the markets, metaverse related tokens are on a roll. However, while a partnership to push the metaverse with Adidas Originals has helped the Sand token so it's proved more of a damp squid for Coinbase. The Metaverse has been the hottest trend in tech of late, and tokens attached to metaverse projects are reflecting just that. One expert told Forkast.News that a lot of projects that have been years in the making are finally coming to market alongside a wave of interest in the sector. According to CoinMarketCap, both Sandboxe's Sand and Decentraland's Mana have gained over 600% in the past month, reaching all time highs of US$8.51US$5.90 respectively on Thursday. Decentraland growth has seen its market cap hit US$9.2 billion overtaking the Axie Infinity Governance Token AXS, to become the number one play-to-earn token. The Sandbox, which is a platform built on the Ethereum chain, allows users to explore virtual world using non-fungible tokens is one of a suite of games offered by Hong Kong based unicorn Animoca Brands. Its Sand token got a booster when sportswear giant Adidas said it was developing an "Adiverse" with the platform. Adidas has also announced another crypto related partnership with the exchange Coinbase. While details are scarce so far, some have speculated this could be a step towards the company accepting cryptocurrency payments for its goods.
However, its sarcastic tweet saying the deal was probably nothing doesn't seem to have helped Coinbase's share price, having fallen around 12% since early in the month, according to MarketWatch. Elsewhere on the market, some industry watchers are expecting a rise in Bitcoin's price volatility, with major exchanges due to settle monthly options totaling nearly US$3 billion on Friday. With Deribit settling US$2.6 billion of that alone.
A tweet by Andres Iniesta promoting the crypto exchange Binance has resulted in a yellow card from the Spanish markets regulator. It's unclear whether it was a paid promotion. However, the Japanese J1 League player is no stranger to Blockchain technology. Iniesta tweeted "I'm learning how to get started with crypto with Binance" alongside pictures of himself using Binance on his laptop and mobile. The former FC Barcelona and current midfielder for Japan's Vissel Kobe has more than 25 million followers on Twitter. Iniesta's tweet was retweeted more than a thousand times, while the same post garnered over 340,000 likes on Instagram. This prompted a response from the National Securities Market Commission of Spain, warning readers that crypto assets being unregulated products carry some significant risks. However, this isn't Iniesta's first encounter with blockchain, along with two other former Barcelona stars, Carles Puyol and Ivan de la Pena, Iniesta co-founded Olyseum, a blockchain powered networking platform for sports fans. Meanwhile, other teams and players are experimenting with NFTs. Back in September, major soccer team Paris Saint-Germain partnered with Crypto.com to launch NFTs for its fans. And over in China, Nasdaq listed internet company The Nine Limited signed an exclusive agreement with Korean soccer players Son Heung Min currently playing for Tottenham Hotspur FC in the Premier League, to release premium NFT collectibles. While some may be playing it, a little close to the edge seems the blockchain arena is fast becoming soccer's new playing field.
---
#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Decentraland #Axie #Metaverse #Adidas #Ethereum #Coinbase #AndresIniesta #USDT #CBDC
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Francisco Gimeno - BC Analyst Among the crypto and digital finance news this week, @Forkast underlines how Metaverse news are hot. It's what happened with the NFTs, and with Doge and with other hot spaces, and it is normal. The novelty is good and the hype too, although there will be always those who lose their money when and if a bubble happens. In the meantime, creators and ideates will continue developing these spaces so crucial for the 4th IR economy.