Hebdo Crypto #127 – Crypto news of the week
The news about Bitcoin and cryptomoney is constantly in flux. It can happen that vital information gets lost in the daily news flow and you miss out on important points.
This format is there to remedy this. We look back over the past week’s news in Bitcoin Formula Crypto Weekly to keep you informed about the current situation of cryptomoney.
For this week’s unmissable event we meet Thibaud Maréchal, who questions the possibility of a transition between the current monetary system and a Bitcoin-centric economy.
Will Bitcoin replace the system?
The parallel seems obvious today as to the existence of Bitcoin as a new monetary system native to the internet which, like gravity or the solar system, undoubtedly exists. Bitcoin is simply not yet seen and understood by all as such.
The state dogma of fiduciary currencies and the illusion of price stability made possible by central banks is still valid. Clearly, the state is in a position similar to that of the church in the Middle Ages, advocating a vision of the world that is not only obsolete, but false. Money does not need a government to have value.
However, this runs counter to the interests of this decaying institution. The obscurantist attitude of central banks, in opposition to the dissemination of knowledge about money, is a tyrannical relic of feudalism, supported by an uninvestigating generalist media, often financed by public funds. At the head of the European Central Bank, Christine Lagarde, mentions that „we should be happier to have a job rather than have our savings protected“.
Do not hesitate to read the article in its entirety to fully understand Thibaud’s thinking: De l’horrible danger de Bitcoin – L’arque du siècle ou l’arche de Noé?
News in brief
▶ The volume of Ethereum options is exploding. With the arrival of Ethereum 2.0, the volume of Ethereum options doubled between October and November from 750 million to more than $1.7 billion.
▶ Italian bank Banca Generali goes crypto. It has invested 14 million dollars in a crypto-startup, enabling it to benefit from crypto guard services.
▶ The DeFi arrives on Bitcoin! The Sovryn project has just launched its decentralised exchange platform as well as a loan and savings service on Bitcoin’s RSK sidechain.
▶ Coinbase on the verge of going public. For example, the company has filed an IPO application with the SEC. For the time being, the SEC has not yet taken a position on the matter.
▶ After Bitcoin, the CME is going for Ethereum futures. This addition would echo a growing demand from their customers and will be launched on February 8th.
➤ $85 million is the amount of losses recorded by Compound users at the end of November. Unfortunately for them, the governance voted against a refund of the funds.
➤ $8 million is the amount stolen by a hacker from the CEO of Nexus Mutual. Fortunately, the protocol itself was not affected. For his part, the CEO of Nexus Mutual tries to negotiate with the hacker as best he can.