Dubai: Crypto & Coffee at 8: 🚨22nd Aug 🚨 Stablecoins account for 96.56% ❗Is Defi Dead?💀 🤑2022 the year of Crypto.com + Binance & mislead news by Bitcoin Magazine continues
29:03 Share

22nd Aug

🚨Stablecoins account for 96.56% ❗Is Defi Dead?💀

🚨Stablecoins account for 96.56% of the total crypto market volume & the volume is only $55.99B, not an ideal metric even for the weekend. The total crypto market volume over the last 24 hours is $58.45B via CoinMarketCap & $69.4B via CoinGecko

😇Are stablecoins a safe haven & hedge against cryptocurrencies? Not ideal, as a better alternative would be to use the $USA or any other Fiat currency. Tether.to USDT still accounts for over 82% of all stablecoins & they have hired BDO Italia for their monthly assurance reports, and USDT’s quarterly attestation. Official blog post here https://bit.ly/3QHD2f5 Paolo A. CTO of Bitfinex & Tether.to stated “We are fully committed to maintaining our role as the leading stablecoin in the market,”

🔻Such low volumes clearly indicate the sheer use case of Stablecoins when cryptocurrency fluctuates. Unfortunately, this makes a perfect use case for Central banks around the world to advertise, publicize, and even force the use case of CBDC

🏦 The Bank for International Settlements — BIS has published a few reports

• Technology, innovation and financial services by Michelle W Bowman talk about Federal Reserve Board Support for Innovation, Crypto Asset & FedNow and Central Bank Digital Currencies. This has the potential to Bank the Unbanked but at what cost? Article here https://bit.ly/3cctJFc The 4-page document also states that FedNow most likely will be available by mid-2023

• Digital euro — opportunities and risks by Joachim Nagel President of Deutsche Bundesbank mention how to exploit the opportunities presented by CBDC (Central Bank Digital Currency) as it has great potential. It also talks about a desire to be able to pay anonymously. An offline digital euro with privacy similar to cash https://bit.ly/3wlIiNl

☠️Defi⚰️

The Total Value Locked in Defi is down to $61B Cointelegraph has a good article DeFi needs to start creating real-world value if it wants to survive some good points such as Value can’t come out of thin air & the downfall of Defi since its peak in Dec 2021 https://bit.ly/3AjQBe2

🤑2022 the year of Crypto.com + Binance & mislead news by Bitcoin Magazine continues

👏🏻 Crypto.com has joined forces with Australian tech company DataMesh Group and OTR to launch Australia’s first in-store cryptocurrency payments across more than 440 of Peregrine’s retail outlets Official info here https://bit.ly/3ccw5nw Bitcoin Magazine has misled the news by saying it only #Bitcoin, not true its for major cryptocurrencies not just for Bitcoin.

👏🏻 Binance.US has obtained a money transmitter license in Nevada Official news via the blog here https://bit.ly/3pyrxL1 Brian Shroder, CEO of Binance.US. has some nice words in the article

Two UAE news: (Check slides)

• Weekly Podcast by Blockchain DXB “Ethereum Flips Bitcoin?

• Global Blockchain Congress on the 23rd & 24th of November in Dubai

For slides click here:https://bit.ly/3AaANtT

For LinkedIn Profile: https://bit.ly/3AAN504

Listen to our Podcast here 🎙️ Anchor: https://bit.ly/3Po8eio Spotify: https://spoti.fi/3y3Fapq iTunes: https://apple.co/3u4Iak7 Google: https://bit.ly/3ysvrL0

Bitcoin address: 02ddf96964b352b75dd660a56a5162bf9e76e549e31263b88ed93015e635771795

Cardano address:addr1qxwu4h9uw4ptc6jp4zzhvckcjua7nda9u5fkvmdfrge00n3dpznq9000nxdcvklpdtw320zku7eeju483l2pg6gtw3eqp8e4q6

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