Home › Weekly Headlines › The Weekly News Roundup, ending 12 June 2022 – Mainstream Adoption Picks Up Steam

The Weekly News Roundup, ending 12 June 2022 – Mainstream Adoption Picks Up Steam

By Brian in Chicago on June 12, 2022 • ( 0 )

This week, I’m focuses more on a Deloite/PayPal report that came out that highlights the research and implementation of cryptocurrencies by large retailers (as payment rails and as treasury assets.) For historical context, 2017 and post-2017, such a thing was only a dream. It took the development and innovation of ideas like bitcoin’s lightning network and the expansion and adoption of stablecoins to lead to this point (along with other small innovations gone unmentioned.)

If you read closely, take note of expectations in just five years- that alone suggests that the space will be rapidly growing, spawning new innovations and applications.

I hope you are aboard the train, because the ride is turning out to be a lot of fun.

Be well, Everyone.

Follow TinyCryptoBlog – Website | YouTube | BitChute | Odysee | Brighteon | Twitter | Spotify | Facebook | Medium

Articles on Medium this week

Articles

Podcasts
The Cost of Crypto Podcast

This Week In Twitter

#ReadMe https://t.co/qsEBstkYfS
— Brian of Tiny Crypto (@TinyCryptoBlog) June 7, 2022

Tom didn’t know about adoption curves

pic.twitter.com/ngMlFmGsfE
— cryptob0t.eth (@thecryptob0t) June 11, 2022

💥 BREAKING: #Bitcoin inflation is 1.74% and will drop to 0.84% in two years.
— Roland (@RolandStautz) June 10, 2022

Book club next Monday, June 13th at 6PM EST – @ThankGodForBTC @Breedlove22 @dwaltchack @jimmysong @gmekhail @lylepratt @jmbushwrites come join us!https://t.co/lgf23eUlDH pic.twitter.com/FRRcUJJ6vT
— Bitcoin Charlotte (@Bitcoin_CLT) June 9, 2022

Bitcoin miners in Texas respond to heatwave and record power demand by turning off and pushing power back to the grid! Thank you to ⁦@PeterGWall⁩, ⁦@chadeverett⁩, ⁦@JasonLes_⁩, ⁦@Nathannichols⁩, Samantha Robertson & many others! https://t.co/8Vp7mtS0zq
— Lee ₿ratcher (@lee_bratcher) June 10, 2022

Recommended Viewing

Reports:

On a slightly different note…

As commodity prices increase (gasoline especially,) the savings rate for US citizens decreases to lows not seen in a long time. People are turning to credit to make ends meet, and reports are that demand at food banks is on a sharp increase as people living on the margin is forced to pay more for essentials. Very tough times.

Headlines

Adoption
REPORT – MERCHANTS GETTING READY FOR CRYPTO

–Checkout.com launches 24/7 stablecoin settlement in partnership with Fireblocks
–MoneyGram’s USDC transfer service launches in several countries

CBDC (are just Surveillance Tokens)
–In Historic Move, Jamaica Makes CBDC Akin to Cash
–US central bank digital currency commenters divided on benefits, unified in confusion

Company / Product / Project News
–Ethereum Proof of Stake Merge Goes Live on Ropsten Testnet – see also the note on mining…

CRIMES / SCAMS / HACKS
–In Latest Crypto Hack, 20M Tokens Lost as Market Maker Wintermute Takes Blame
–$6M Bounty Paid to White Hat Hacker Likely Averts Sizable DeFi Hack

DAO
–New Crypto Bill Suggests Some DAOs Be Taxed Like Businesses

DeFi and Lending

Exchanges
–Anchorage forms custody network with five crypto exchanges

Fundraising and Sponsorships

Gossip

Implementation and Infrastructure
–PayPal Enables Crypto Transfers to External Wallets, Exchanges

Metaverse / Web3

Mining
**Personal observation: since crypto prices fell hard in April, along with a rapidly declining profitability from mining ethereum, video card prices have fallen hard and fast. On eBay US, the price of an RTX 3080 ti has gone from ~$1,400 down to the current price of ~$850. If you’ve been in a market for a new GPU, now is the time to start watching retail and re-sell outlets**
–Hut 8 Mining Opens Third Facility, Hits 7,000 Bitcoins in Reserves
–Bitcoin Hash Rate Approaches All-Time High

Nation States (and other political jurisdictions)

NFTs
–You Can Now Buy NFTs Without Crypto
–Salesforce Pilots Cloud-based NFT Service

Regulation, Legislation & Legal Matters
–CFTC Edges Closer to Becoming Primary Overseer for Crypto
–Binance Under SEC Investigation Over Its 2017 ICO Listing: Report
–Lithuania aims to tighten crypto regulation and ban anonymous accounts

Stablecoins
–New York Regulator Says Stablecoins ‘Must Be Fully Backed’
–Terraform Labs and Do Kwon Ordered To Comply With SEC Subpoena
–Tether deploys new USDT token on the Tezos blockchain

Taxation

The Wall Street
KEEP AN EYE ON THIS –> https://bitcointreasuries.net/
…AND THIS –> https://www.buybitcoinworldwide.com/treasuries/
–Citadel Securities, Virtu Financial Building Crypto Trading Platform
–Two more spot crypto ETFs launch on Australian markets

Time Capsule