In this newsletter, we discuss the White House's stance on the stress facing crypto assets and other developments of the week.
Dear readers,
We hope you are doing well. We began by discussing how decentralized networks can be used to address the trust problem we've been exploring, first with our article on " Crypto and the Concept of Trust, " and then with our article on " Principles of Assurance ." We would be very happy if you listened to our podcast, which also focuses on the concept of trust. You can also read our article on the bridges between us and blockchain, and oracles , here. You can reach us.
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As we all know, last year wasn't an easy year for crypto assets. The decline, which began in May with the erosion of confidence in stablecoins , continued its downward trend on the chart, much to the disappointment of many.
The crypto data analysis platform Glassnode 's conclusions suggest that we've passed the worst of the Bitcoin downturn. Perhaps we've hit rock bottom, and things are going to be much brighter and better from now on!
Debt and Punishment — Decentralized Bulletin
According to statements from the White House, last year was spent focusing on the risks of crypto assets and considering how to mitigate them. They are well aware that the opportunities offered by this technology can provide much faster, smoother, and lower-cost solutions than traditional finance. However, they point out that these opportunities bring with them many risks.
The US Congress, of course, clarifies the issue by mentioning regulations. They state that there are regulations on the horizon that need to be taken seriously in order to mitigate these risks .
On the other hand , Argentinians continue to turn to crypto assets due to the impact of rising inflation . Research shows that 17% of citizens bought crypto assets last year, and half of those purchases were stablecoins .
the Netherlands , cryptocurrency exchange Coinbase was fined $3.6 million for failing to comply with local laws. A fine was imposed. The Netherlands had previously made similar accusations against KuCoin and Binance and fined them.
El Salvador , which we know declared Bitcoin as its local currency and therefore received much criticism, announced that it paid the $800 million debt it had to pay in 2023 .
which recently made headlines with layoffs and has been considering entering the Web3 world for some time, hinted at a possible NFT innovation this spring. One of the clues we could glean was that Amazon users would be able to play cryptocurrency games and earn reward NFTs in return.
Debt and Punishment — Decentralized Bulletin
Another interesting development comes from Formula 1 ! Following an agreement with Stake.com, an Australian-based online casino platform, the Alfa Romeo F1 team will continue under the name “Alfa Romeo F1 Team Stake.” Reportedly, Stake.com signed a $140 million deal to make this possible.
Stake.com was previously Everon Let's also remember that they reached an agreement with the football club , and this agreement is one of the most important collaborations in the club's history. The platform also collaborated with Drake for a Bitcoin giveaway last May.
In recent months, another F1 team , Haas , has become the title sponsor of a leader in payment systems. He had reached an agreement with Moneygram.
That was this week's events; we hope you have a peaceful and wonderful day and that it inspires you on your other days.
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Once again, see you next week on a much happier Sunday morning.
Decentralized Bulletin
Originally published on Medium on February 02, 2023. English translation of “Borç ve Ceza”.