Crypto Market Update 10-02-22

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Hello everyone and welcome again to our weekly recap, let’s go!  📰😎

But first, to your amusement, here is an interesting fact, Blink-182, yes the band, decided to incorporate their band under a funny name – ‘Poo Poo Butt LLC’ – as they thought it’s be funny to hear accountants use the name in important conversations on a daily basis. 😂🤣

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🔴USA what are you doing…😔

In light of the recent rumour that the SEC is going to prohibit crypto staking, Brian Armstrong, Coinbase CEO, has stated that it would be a “terrible path” (read more) for the US. With all the questionable stances the US has taken so far regarding the crypto field this is yet another one… 🤐

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🟡Everyone is trying to regulate, but who will get it right? 🤔

This time it’s Israel… According to Ilan Sterk, the CEO of Altshuler Shaham, an incorporation of companies in various fields of finance with 2.4 Million clients, the recent change proposal of the definition of cryptocurrencies, in this case being classified as securities, would cause huge damage or kill the local industry (read more). 😖

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🟢“Digital assets here to stay”✅

That’s what an executive from BNY Mellon, a S&P 100 American investment banking services company, said. Michael Demissie, the head of digital assets at the aforementioned bank, also said “What we see is clients are absolutely interested in digital assets, broadly”  (read more) 🧐 and that “We absolutely need clear regulation and rules for the road” like we mentioned in the bullet point before. And now here’s a quick fire of good news bullets, but you have to read them fast, ok? Go:

💥Japanese multinational tech company Fujitsu launches Web3 acceleration platform (read more);

💥Joe Lubin, Ethereum co-founder and ConsenSys founder is “bullish" (read more) ;

💥Saudi Arabia partners with The Sandbox (read more) ($SAND) for future metaverse plans;

💥The UK central bank says the digital pound could co-exist with private stablecoins (read more).

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Uufff, that was tricky! 😅

A very positive week overall, lots of great takes from around the world 🤩 see you next week have a great weekend! 😋