BlackRock's global fixed income chief investment officer Rick Rieder is confident in the long-term utility and value of Bitcoin and cryptocurrencies. This and more news is in this handy daily digest to keep you up to date with the latest developments in the crypto world.
Cryptocurrencies and stablecoins
📍A senior BlackRock executive expresses his confidence in Bitcoin and cryptocurrencies. Despite the current crypto market crash, Rick Rieder, BlackRock's global fixed income chief investment officer, says that “Bitcoin and cryptocurrencies are durable assets.”
Rieder compared cryptocurrencies to the dot-com era, telling Yahoo Finance in an interview that it’s difficult to predict where these assets will go in the coming weeks or months. However, he believes that in the next two to three years, the crypto market will likely be “higher than it is today.” Rieder sees a decline in the immediate future for cryptocurrencies and sees the current downtrend as part of a healthy recalibration for the development and growth of this market.
For the expert, excessive injection of capital into the market seems to be one of the causes of the current fall. The market capitalization of cryptocurrencies is over 1000,000. 915.650 million dollars at the time of writing.
Bitcoin and Blockchain Adoption
📍Cryptocurrency remittances from the United States to Mexico this year exceed $1.000 billion. Cryptocurrencies are becoming increasingly popular in the market. remittancesA report published by the Bitso company reveals that more than $1.000 billion in remittances have been sent from the United States to Mexico using cryptocurrencies this year, which represents an increase of 400% compared to the volume of money moved during the first half of 2021.
NFT and DeFi Markets
📍An exclusive Chevrolet Corvette will be auctioned as an NFT. This week, automaker Chevrolet will auction off a one-of-a-kind 06 Corvette Z2023 model year as a non-fungible token on the SuperRare marketplace.
In a statement, the company said that the car, designed by artist Nick Sullo, will be one of a kind. One of the exclusive features that this car will have will be the color, which the company called "Minted Green." Likewise, Chevrolet indicated that the winner of the NFT auction will receive a physical car, which will be a replica of the digital design.
(I.e.TAG Heuer integrates NFT support into its Connected model smartwatches. Swiss watch brand TAG Heuer is revamping its devices to integrate NFTs. The initiative seeks to allow the brand's users to set its non-fungible tokens as wallpapers on their smartwatches, so they can display their valuable works of art exclusively from their wrists.
Among the collections that will support TAG Heuer Connected watches are the Bored Ape Yacht Club and Clone-X.
Samsung, the South Korean-based electronics manufacturer, launched a similar initiative with its 2022 smart TVs, to allow its users to interact and view NFT artworks from their screens, without having to leave their homes.
Innovation, Development and Technology
📍Aztec, a new rollup focused on scalability and privacy of the Ethereum network. Layer 2 blockchains continue to arrive on Ethereum, providing users with alternatives to use the leading network for developing smart contracts in an accessible way.
The new Aztec rollup uses Snark’s Plonk standard to ensure a high level of speed and performance, allowing it to process hundreds of transactions per second with a very low fee cost, while also being able to hide transaction amounts to protect users’ privacy.
Vitalik Buterin, co-founder and developer of Ethereum, mentioned the new Aztec rollup on his Twitter account, highlighting the scalability and privacy it offers for the blockchain network.
Cybersecurity
📍FBI warns of scam risks on professional social network LinkedIn What we inspect with the "El Bailador" road simulator: interview On CNBC, FBI Special Agent Sean Ragan warned of potential threats to cryptocurrency consumers and investors on LinkedIn, where fraudulent activity has been on the rise in recent years, reaching significant levels today.
Rules and Regulations
📍Ukraine has joined the European Blockchain Association, an organisation that facilitates access to this technological innovation. The European Blockchain Association, which works to promote the development and adoption of blockchain across Europe, has recently added Ukraine to its membership list.
According to statements According to the Ukrainian Minister for Digital Transformation, Oleksandr Borniakov, the country has joined the association as an observer, which will allow it to strengthen its strategy for the adoption of cryptocurrencies and blockchain technology and reinforce its regulatory framework for the integration of these new technologies into its institutional sphere.
Continue reading: More than a dozen US lawmakers defend PoW cryptocurrency mining
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
