While we don’t have a strong view on crypto here at Equity Mates, we are fascinated to watch the story unfold. Read on for some of the most interesting Tweets, articles and memes from the past week below.
Prices of Top Cryptocurrencies
Tweets & Charts of the week
Articles & Videos
Is Bitcoin really a hedge against inflation? Despite its 2022 weak price performance, Steven Lubka, managing director of private clients at Swan Bitcoin says it is. According to Lubka, Bitcoin works well as a hedge against rising prices when inflation is caused by monetary expansion. It is less effective when inflation is caused by the disruption of the food supply and energy, which he sees as the leading cause of this year’s rampant inflation.
According to a recent press release, the Australian crypto exchange Ebonex was partnering with Mastercard. This collaboration was specifically designed to formulate a new crypto-linked card. With this, Ebonex garners the status of being Mastercard’s Principal Member for the issuance of crypto-funded payment cards of the firm.
Although blockchain technology is still growing, some established companies are pumping money into different projects offering specific use cases. Alphabet (NASDAQ: GOOGL) invested $1.56 billion in blockchain companies between September 2021 and June 2022 with four rounds, taking the lead among publicly listed firms investing in the sector, research published by Blockdataon August 11 indicates.
As its bankruptcy proceedings continue, crypto lender Celsius has released its budget plans for the next three months. As of July 29, 2022, Celsius reported owing a total of $6.7 billion in token liabilities. The lender currently has $3.8 billion in token assets, including $761 million of its own token CEL, putting its deficit at $2.84 billion.
A leading technology company mainstreaming decentralized ownership, NFTs and the metaverse for public markets, announced an exclusive multi-year deal with World Table Tennis to develop and execute a web3 strategy that will engage the global fan base and reach the frontier of emerging technology.
NFT marketplace Magic Eden has submitted a proposal to Bored Ap Yacht Club to build an NFT marketplace for them. $APE coin would be the main currency used for the marketplace.
Terra creator Do Kwon said there was likely an insider at Terraform Labs who took advantage of information on the protocol’s vulnerabilities to profit — although he does not name anyone — but added, “I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.”
Newly released data shows that, unsurprisingly, shares are the most common assets for Aussie investors – but crypto is coming, hard. And that worries ASIC. The commission, worried the risks of dealing in cryptocurrencies are not clear to many, says there is a “strong case” for regulation of the sector.
Bitcoin miner Stronghold Digital Mining said it reached agreements with lender New York Digital Investment Group and WhiteHawk Capital to eliminate over half its debt and add liquidity. The company will also restructure a convertible note. They will give back 26,200 mining rigs to reduce debt.
In Focus: NFT gaming
Halliday has closed a $6 million seed round led by Andreessen Horowitz to accelerate the development of its ‘Buy Now Pay Later’ NFTs product. The Web3 startup is looking to make it easier for new users to join blockchain gaming by offering a ‘Buy Now Pay Later’ support system.
In this week’s Crypto Curious episode Trace, Blake and Craig talk about the fact the US Treasury dropped news out of the blue that they had added Tornado Cash to their sanction list. The guys discuss what this means for crypto users everywhere. Then they give us an update on the Tiffany drop, what Mastercard is doing to bring Bitcoin to Australia, and what is Coca-Cola up to?
Some of our favourite content
This is an excerpt from our Crypto Newsletter email. Once a week, for those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.