Category: Cryptocurrency News

Hi, I just started learning solidity this week through buildspace. The problem is that when I want to get some test ETH on the Rinkeby network I always get an error saying that the site is down. Could you be so kind to send me some to this account: 0x811B608Ff8f5D52F473fDD52b32A278125D681D9 I would really appreciate it.…
Read more

Hello everyone, I hope our day is going well. I've been reading up on the Seed Club DAO, and I'd like to share my learnings with this subreddit. Summary: Seed Club aims to create and invest in the world's first billion-dollar tokenized community. Seed Club is launching a new investment business in the form of…
Read more

submitted by /u/fallenkeith2018 [link] [comments]

U.S. Senator Elizabeth Warren has called on regulators to clamp down on decentralized finance (defi) and stablecoins “before it’s too late.” She said: “Defi is the most dangerous part of the crypto world … it’s where the scammers, the cheats, and the swindlers mix among the part-time investors and first-time crypto traders.” US Senator Urges […]

What are the best practices before registering a ens domain and using it as your social profile. For example, I see a lot of twitter users having their eth addresses as their usernames. If connected to a wallet you've been using for years, doesn't that expose your entire investment history unnecessarily to the public? Pretty…
Read more

Hi, I'm learning about DAO's, very very interesting. I was wondering if anyone could elaborate on how a DAO actually functions from a business standpoint. It seems to me that DAO's only work if its connected somehow to the internet of things but I know that most business in reality have some sort of workforce.…
Read more

According to the U.S. lawmakers, the infrastructure law contains an “overly-broad interpretation” of what a broker is and places the reporting burden on individuals who may not have the necessary information to comply.

Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
Read more

The crypto market cap has moved up to $2,2 trillion after the Fed announced they would double the tapering of bond purchase and interest rates will stay the same for now. Fed’s chairman Jerome Powell held a news conference after the decision was taken where he approached several issues on the United States economy and current concerns for its financial stability. Related Reading | Bitcoin, Ether Spike After Fed Announce No Change To Interest Rates When asked about the concerning risks and systemic issues that could affect the U.S. financial stability nowadays, Powell broke it down to four essential “pieces” that the Feds “hold” themselves to. In his words, that’s separated in the following keys: Asset valuations: “are somewhat elevated”, Powell says. Debt owed by businesses and households: “households are in very strong financial shape”, and “businesses actually have a lot of debt, but their default rates are very very low.” Funding risk: The fed sees “market funds as a vulnerability and would applaud the SEC’s action this week”, claims Powell. Leverage among financial institutions: “is low in the sense that capital is high.” Followingly, Powell named scenarios that they are looking at as possible risks, which start at the “emergence of a new [Covid] variant” and the concerning possibility –with no basis– that it could be resistant to vaccines. Similarly, they fear “a successful cyber attack” that could take down a major financial institution. The chairman says this is the one scenario they would not know how to deal with. Even though the reporter’s question had clearly meant to assess risks from the crypto industry, Powell did not even get close to mentioning it within his “list of horrible”, and when asked again to clarify if it is a concern to him, Powell responded: “I think the concerns there are not so much current financial stability concerns.” However, the chairman does see cryptocurrencies as “speculative assets” that are “risky” and “not backed by anything”, and he sees consumers issues for those who “may not understand what they’re getting”. Powell also thinks that certain events in the crypto market, like the kind of leverage built-in, should be followed, but that is not within the Feds jurisdiction, he reminded. Stablecoins Could Scale, Powell Thinks As Powell is currently not in favor of a crackdown on crypto similar to China’s to happen in the U.S., he does have considerations regarding other possible risks and agrees there should be certain regulations. He now expressed support to Biden’s working group report on stablecoins. Although, that report disappointed many as it failed to provide regulatory clarity and called for a new bill to “limit stablecoin issuance, and related activities of redemption and maintenance of reserve assets, to entities that are insured depository institutions.” The report puts all the weight on Congress and does see stablecoins as a possible systemic risk and wants to stop them from having “an excessive concentration of economic power”, a statement in which people saw the huge irony of the government not wanting such a strong competitor for the banking industry. In Powell’s views, “Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” and as there are no regulations at the moment he thinks “They have the potential to scale, particularly if they were to be associated with one of the very large tech networks that exist.” You could have a payment network that was immediately systemically important that didn’t have appropriate regulation and protections. The public relies on the government and the Fed in particular to make sure that the payment system is safe and reliable. As many can agree on the fact that certain regulations are needed to provide clarity, the report in question doesn’t paint the best picture. Powell’s statement, however, could be met halfways. Related Reading | CBDCs to coexist with cash payments, according to FED Chairman Powell