1) Circle CEO wrote a letter to the US Treasury regarding self-hosted crypto wallet ban.
On December 9, Jeremy Allaire, CEO and co-founder of Circle appealed United States Department of the Treasury to collaborate with the crypto industry in adopting regulations. Allaire believes that some regulations are a direct risk to the country’s competitiveness. He said:
I believe the proposal would inadequately address the actual risks that are at issue, would significantly harm industry and American competitiveness, would continue to yield economic and industry advantage to Chinese firms, and would have significant unintended consequences around the broader use-cases for this technology.
2) Ruchir Sharma believes Bitcoin can threaten the dollar’s supremacy.
Ruchir Sharma, chief global strategist at Morgan Stanley Investment Management thinks that the dollar may lose its supremacy due to global distrust in traditional finance also 2020 has been a great year for Bitcoin. Sharma said:
The dollar’s reign is likely to end when the rest of the world starts losing confidence that the US can keep paying its bills. […] Money printing is likely to continue, even when the pandemic passes. Trusted or not, Bitcoin will gain from widening distrust in the traditional alternatives.
3) Bank Hapoalim joins Tata Consultancy’s Digital Bank Guarantee.
Bank Hapoalim, one of Israel’s largest banks has joined Tata Consultancy Service’s (IT firm) platform named Digital Bank Guarantee which is based on Quartz blockchain. This platform aims at helping banks to manage the lifecycle of bank guarantees which includes issuance, modification, termination, and invocation.
4) PowerPool launches YETI, an index and “meta-governance” token.
PowerPool has launched an index and “meta-governance” token for the Yearn ecosystem. Messari’s Ryan Watkins believes that the index would offer investors “a passive vehicle for board exposure to the Yearn ecosystem. He also added:
Launch an index in the PowerPool ecosystem consisting of Yearn ecosystem projects 58: YFI, SUSHI, CREAM, AKRO, COVER, KP3R, CVP, PICKLE. The proposed weights of tokens will be: YFI 35%, SUSHI 17%, other tokens 8% each. The name of the new index is proposed to be “Yearn Ecosystem Token Index”, with the ticker “YETI”.
5) 3iQ is near to close an initial public offering for its Ethereum fund.
The Ethereum Fund IPO is anticipated to close on December 10th, 2020 after which the Toronto Stock Exchange will list the asset. Gemini founder Tyler Winklevoss announced that all the funds will be held by Gemini custody. He said:
Huge news for Ethereans. The Ether Fund by @3iq_corp will list on the Toronto Stock Exchange ($QETH) tomorrow morning. The fund has already raised ~$75MM. All $ETH will be held by @Gemini Custody. To the moon!