April 21, 2023
Crypto Market Update 21-04-23
Happy Friday everyone.
As usual, we come with this week’s hottest news from the crypto space for you 📰😎
Last 7 Days Market Performance:
(as you will notice, we changed the reference to dollars since this is a global market)
Bitcoin is down 8.6%, now at $ 28,130.20 📉
Ethereum is down 9.6%, now at $ 1,911.41 📉
Total crypto market cap: $ 1.18 Trillion
And our fact for the week:
58.1% of Millennials have less than €10,000 in savings 😲 Millennials, also called the internet generation, refers to those born between 1981 and 1996, and if you’re reading this, you’re probably one of them. Latest reports showed that despite making up the largest portion of the workforce in Europe and U.S., Millennials control just 4.6% of the wealth, contrary to Baby Boomers (born between 1945 e 1964 and probably your parents), that in 1989, when they were around the same age as millennials are today, controlled 21% of the wealth. That’s almost five times as much as what millennials own today. 🤯
Ok, now onto this week’s updates:
🔴 Coinbase could move away from U.S. if there is no regulatory clarity.
The position came directly from its CEO who bluntly stated that "everything is on the table." In fact, the U.S. has appeared as one of the countries with the least willingness to regulate crypto, opting for a position of litigation, rather than guidance for compliance with the law. This week even the most senior representative of a financial regulator went to the US congress to evade questions, in a move highly criticized by all innovators. 👨💻
🟡 Donald Trump announced the release of a second series of his NFT collection.
After the first batch of NFTs released in December sold out in less than a day, the former US President is back on the charge releasing a second round of superhero-style digital trading cards with cartoonish images of him at $99 a piece. Funny thing is that less than 2 years ago, Trump was calling Bitcoin a “scam”, and today he seems to be funding his 2024 campaign by collecting crypto. Things change when you have something to gain. 💰
🟢 E.U. approves world's first comprehensive framework for crypto regulation.
The European Union Parliament yesterday approved what is considered the most disruptive legal approach to crypto assets worldwide. With 529 votes in favor to 29 against, the first piece of EU legislation for assets like bitcoin, ether and stablecoins, paves the way for crypto regulation and makes Europe one of the most attractive areas for space innovators. The name of the law is MiCA (Markets in Crypto-Assets) and it will come into effect in 2024. ⚖️
The news coming from the European Union is diametrically opposed to what has been happening in the United States. Regulation and legal certainty is essential for the development of any innovative technology, thus bringing the European space into the spotlight of places where you can innovate with peace of mind. 🧑💻
Europe could take the opportunity to close the huge gap it still has with its neighbors on the other side of the Atlantic. 🌎
Hope all of you have a great weekend. 👋
