📌 Fidelity Files BTC ETF, Tesla Accepts BTC, and Uniswap v3

March 24, 2021 | Issue #161

 MUST READS 

Blockchain.com Raises $300 Million


As we discussed last week, the crypto exchange marketplace competition is heating up. Coinbase, Bakkt, eToro... they are all raising money or getting ready to go public.

This week, we have Blockchain.com raising $300 million at a $5.2 billion valuation. The company claims to have 31 million verified users across 200 countries and 70 million wallets.

With the fresh capital at hand, Blockchain.com plans to "aggressively expand" its products and services, grow its global team, and pursue M&A opportunities, said CEO Peter Smith.
 

Tesla Accepting BTC for Payment


Elon Musk has announced that Tesla vehicles can now be purchased using Bitcoin (BTC).

He also disclosed that the company would operate Bitcoin nodes directly (which helps support the Bitcoin network) and will hold, rather than convert, the Bitcoin it accumulates. This goes to show that in the eyes of Elon, Bitcoin isn't only a transactional medium, but also an investment.

Tesla’s online customers will now see a new Bitcoin payment widget added to the site’s checkout options.
 

Why in the World Would You Own Dollar Debt?


How are increasing bond yields going to impact the market? How will this affect the crypto space?

If you're one of the millions of investors asking yourself these questions, Ray Dalio has got you covered.
 

 SPONSORED 

Crypto’s Next Trillion-Dollar Coin Revealed?


Teeka Tiwari is a world-renowned crypto expert. But he hasn’t always been acclaimed.

He was a laughingstock when he first recommended bitcoin to his readers in 2016. Since then, it’s up more than 12,700%.

It pays to listen to Teeka, in other words.

And as you’ll see on Wednesday, March 31st, at 8 pm ET, bitcoin isn’t even the cryptocurrency Teeka is most excited about right now.

He has his eye on what he believes will be crypto’s next trillion-dollar coin…
 

 DEEP DIVE 

Bitclout


If you are part of the bourgeoisie of Crypto Twitter, you may have woke up a few days ago only to find out you had an alter-ego on a new platform called Bitclout. The only difference? On Bitclout, users are buying and selling tokens representing identities.

As of today, the Bitclout wallet has received deposits of more than $150 million worth of Bitcoin.

Here is everything you need to know about the controversial project (well, almost everything, as the story continues to unfold), including who might be involved, what prominent investors funded the project, and how this project may just turn out.

Oh yeah, also, today the alleged leader got hit with a cease-and-desist letter. Ouch.
 

Why NFTs are Hard to Explain


Non-fungible tokens (NFT) have blown up in popularity but they are still hard to understand. This is one of the best explanations we have read so far.
 

Uniswap v3


Uniswap - an Ethereum-based decentralized exchange (DEX) that allows anyone to swap ERC20 tokens - has mapped out what is perhaps the most anticipated DeFi product launch of the year.

The biggest takeaways?
  • Capital efficiency improvements
     
  • Customizability/ more flexible infrastructure
     
  • Vastly expands the AMM design space
     
  • Enables a far more robust ecosystem to grow around Uniswap
The blog post provides a high-level overview.
 

REEF vs. Alameda


An $80 million deal between rising DeFi project, Reef Finance, and crypto investment firm, Alameda, has unraveled with both projects blaming the other.

To put it simply, Alameda agreed to make a "strategic investment" into Reef to further "synergies" (re: introduce Reef to Alameda's portfolio companies). But when Reef sent Alameda an initial transaction of $20m REEF, Alameda quickly sent them to Binance, where they were sold (maybe).

Of course, selling tokens that you just received at a discount does not scream "strategic investment."

So goes the story of Reef vs Alameda and the ongoing discussion of Centralized Finance.
 

 REGULATORY FRONT 

Asset Management Giant Fidelity Files for a Bitcoin ETF


A new filing with the SEC indicates that Fidelity is seeking to create a Bitcoin ETF. If approved, the fund will employ Fidelity's in-house Bitcoin price index, per the filing.
 

A Quick Analysis of FATF’s 2021 Draft Cryptocurrency Guidance


The Financial Action Task Force (FATF) has released an updated draft of its Guidance for a Risk-based Approach to Virtual Assets and Virtual Asset Service Providers... and several proposed changes are extremely problematic from a privacy and innovation standpoint.

The 2019 guidance, while still calling for mass warrantless surveillance, at least placed cryptocurrency businesses on a level playing field with traditional financial institutions and, generally speaking, imposed no stricter nor more privacy-invasive policies than existing regimes. The newly updated guidance, however, changes that dramatically.

Here’s what you need to know in brief.
 

Powell sees Bitcoin as a Substitute for Gold, not the Dollar


Federal Reserve Chairman Jerome Powell spoke at an event held by the Bank of International Settlements this week and offered some brief thoughts on BTC and crypto assets (see clip here).

If the Fed does not view BTC as a competitor to the dollar it may remove some forms of regulatory risk.
 

 TWEET OF THE WEEK 

Other Articles You May Enjoy

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Crypto’s Next Trillion-Dollar Coin

Sunday, March 21, 2021

Dear Reader, Cryptos are booming. Bitcoin has exploded to all-time highs… Soaring past $10000… $20000… and even $50000. Every media outlet is talking about it… Every so-called “expert” is telling you

A second chance at Bitcoin?

Friday, March 19, 2021

Editor's Note: He's back. Below is an important message regarding Teeka Tiwari – someone who we've been closely following since the crypto market erupted. It's a rare occurrence but

📌  Morgan Stanley Finally Offers Crypto, Visa Enabling BTC Payments, and eToro Goes Public

Thursday, March 18, 2021

March 17, 2021 | Issue #160 MUST READS Morgan Stanley to Offer Clients Access to Bitcoin Funds Morgan Stanley is the first large US bank to offer its wealth management clients access to Bitcoin funds.

$57k BTC – Here's what to do next

Saturday, March 13, 2021

Editor's Note: Please take a moment to read this special message from our sponsor, Money Map Press. Dear Reader, The crypto market is entering brand-new territory. And the load-up has already begun

📌 JPMorgan’s Crypto Stock Basket, GBTC Halts Trading, and Crypto “Savings Accounts”

Thursday, March 11, 2021

March 10, 2021 | Issue #159 MUST READS JPMorgan Wants to Launch Crypto-Related Stock Basket In the latest sign of Wall Street players warming to Bitcoin, the largest US bank wants to issue a debt

The Sat Standard - Bitcoin Weekly - July 24th 2021

Saturday, July 24, 2021

This week in bitcoin. Straight to the point. No bullshit. Every Saturday. View this email in your browser The Sat Standard This week in bitcoin. Straight to the point. No bullshit. Every Saturday.

Marty's Ƀent - July 23rd, 2021 - Issue #1040

Friday, July 23, 2021

Friday, July 23rd 2021 - Issue #1040 The divide and conquer strategy is very strong right now I have to be at a wedding rehearsal in less than an hour, so this will be a very brief rag. The push to

Flipside Roundup 

Friday, July 23, 2021

Best data analytics from this week and how to get started with Uniswap bounties ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Bounty Brief #15

Friday, July 23, 2021

A storm is coming...⛈️⚡🌩️ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Marty's Ƀent - July 22nd, 2021 - Issue #1039

Friday, July 23, 2021

Thursday, July 22nd 2021 - Issue #1039 They're coming for your wallets Here's a very interesting thread that you freaks should read through when you get a chance. (It's much longer than the

📌 FTX Makes History, Play-To-Earn NFT Games, & Where The Whales Are Buying

Thursday, July 22, 2021

Issue #178 July 21, 2021 | Issue #178 Sponsored By: MUST READS The Biggest Private Crypto Deal Ever Just Closed Crypto exchange FTX has closed a Series B funding round, drawing in $900 million from an

Marty's Ƀent - July 21st, 2021 - Issue #1038

Wednesday, July 21, 2021

Wednesday, July 21st 2021 - Issue #1038 It's a beautiful thing It truly is a beautiful thing. Humanity has been given a tool in the Proof of Work consensus mechanism driven by hashcash SHA256 and a

👉 Australian financial industry looks to legally recognize DAOs

Wednesday, July 21, 2021

We bring you the top stories in crypto every week! Stories like... Monday, July 19th, 2021 Sign Up Your Weekly Update On All Things Crypto In Partnership With: TL;DR Australian Digital Finance Industry

Report: Big Tech firms ready to take on U.S. dollar

Tuesday, July 20, 2021

Editor's Note: We are always on the lookout for the latest financial research to share with you. Below is a special message from our friends at Brownstone Research. Dear Reader, For decades, every

Marty's Ƀent - July 20th, 2021 - Issue #1037

Tuesday, July 20, 2021

Tuesday, July 20th 2021 - Issue #1037 A Chaumian Mint prototype emerges A few weeks ago, we wrote about the potential for Chaumian mints to improve Lightning Network wallets. Particularly custodial