UPDATE: Ethropy content is now entirely free, so I have added some Referral/Affiliate links at the bottom if you’d like to support my work! And as always, the real alpha takes place in my Discord server, please join!
MARKET:
Plenty of bullish news in crypto this past week. The LFG (Luna Foundation Guard) sold a significant amount of $LUNA to investors and plan on purchasing $BTC with the proceeds in order to back the algorithmic stablecoin, $UST. Many doubters believe the mint/burn mechanic between UST and LUNA is not sustainable and could fall apart during a bank run, but controversy aside, crypto investors are rejoicing due to the fact there is a large buyer ready to create a floor price for Bitcoin. The first two Bitcoin purchases have been made this week and there are many more to go (even more than the planned rate hikes from the Federal reserve)!
Separately, Bitcoin has steadily been leaving centralized exchanges and is now at the same level as November, 2018 during the depths of the bear market.
NEWS:
Vitalik Buterin is on the cover of Time magazine! When Nobel Price in Economics?
Goldman Sachs has embraced the digital asset revolution
Goldman OTC Crypto Trade with Galaxy Digital
Big raise for Optimism
Bessemer Venture Partners is Launching a DAO
NFTs:
RUGS:
$50m in $CASH disappears from Solana
REGULATORY:
Senator Elizabeth Warren Announces Sanctions Compliance Bill for Crypto Companies
Honduras May Announce Bitcoin as Legal Tender
POD O’ THE WEEK:
Ethropy Referral Links
Osmosis Validator for Four Moons 🌕🌕🌕🌕 - Delegate $OSMO
Voyager Referral - Get $25 in $BTC
Donations - ethropy.eth
Buy a Ledger Hardware Wallet (Affiliate Link)