![chftx.png](https://duj27fxoqhxbb.cloudfront.net/chftx_92a9762123.png)

 

**FTX Hack**

As if the current situation with FTX wasn’t already bad enough, FTX software may contain malware. This was discovered by the cyber security branch of the Kraken Exchange, after more than 400 million dollars was drained from FTX on Friday night. The funds were stolen from user cold storage wallets with private user keys. According to the evidence, it’s likely that the FTX hack was an inside job, perpetrated by an FTX employee. As of now, the name of the suspect has not been released.

User funds on FTX and FTX US are insured against theft. Any FTX users who’s crypto was stolen from their account can expect a refund. For the time being however, FTX and FTX US have frozen all transactions on the exchange until further notice. 

 

It’s never easy to deliver bad news, however we will continue to provide updates as this story unfolds.

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)
**CHANGE THE WAY YOU TRADE**

As of today, the FTX and FTX US exchanges are no longer supported by Cryptohopper. Bots and paper trading for FTX and FTX US have been disabled by Cryptohopper due to FTX filing for chapter 11 bankruptcy. In developing news, FTX and FTX US was hacked, potentially compromising ALL FTX software.

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Cryptohopper has Delisted FTX and FTX US

**Follow this link to watch on YouTube!**

[Killer Whale News Update! Ethereum Merge This Week!](https://youtu.be/Xi_oucHsro4)

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

In this piece we discuss Ethereum deposits and withdrawals during the merge. Spot trading of Ethereum shouldn't be affected, so all your favorite Killer Whale products should work just fine while the merge is taking place! Check out the video in the article for more info!

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Ethereum Merge Set to Take Place Next Week! (With Video)

**Check out this link to watch our latest news update on YouTube!**

 

## [Killer Whale News August 28th 2022](https://www.youtube.com/watch?v=Sp-Q4nbIb4o)

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)
**CHANGE THE WAY YOU TRADE**

In this video we look at current crypto news. We discuss the Helium and Dish Network partnership, Bitcoin Amsterdam, and look at some footage from the most recent crypto convention the Killer Whale Team attended. Follow the link in the article to watch on YouTube!

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Killer Whale AMA Recap (Video) August, 28th 2022

**US Executive Crypto Order: What Does it Mean?**

Earlier this month, on March 9th, 2022, U.S. President Joe Biden signed the United States’ first of a kind executive order on cryptocurrency regulation. The order doesn’t lay out any specific positions, rather it directs federal agencies to coordinate their approach within the digital asset sector. The release of this executive order DID NOT include any new regulations for cryptocurrency companies to abide, rather the order was intended to direct federal agencies to do a better job of communicating their work regarding digital assets.

 

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**What did this Order Contain?**

The executive cryptocurrency order, which has been in the works since October of 2021, defines six key priorities for the administration to follow. These six key priorities are:

-	Protecting U.S. interests
-	Protecting global financial security
-	The prevention of illicit uses of digital assets
-	The promotion of responsible innovation
-	Financial inclusion
-	U.S. leadership

 

**How is this Order Being Viewed by the Public?**

Although there’s been some apprehension within certain parts of the crypto community, the public response to the cryptocurrency executive order was by and large positive. The fact that the government drafted and enacted this order shows that the growth of the cryptocurrency and web3 space is being taken seriously by the U.S. The United States has been at the forefront of many technological advancements over the years, including the current web2 internet, and this order makes it clear that the U.S. aims to remain at the forefront of technological advancement into the web3 era.

 

**CBDCs**

Much of the U.S. digital asset executive order is centered around the research and deployment of a U.S. central bank digital currency, which could serve as an asset for some investors. For those who are unfamiliar, central bank digital currencies, or CBDCs are a digital asset class that borrows technology from cryptocurrency, and acts as a centralized and government controlled digital equivalent to fiat currency. CBDCs are being implemented all over the world, and the U.S. digital asset executive order essentially gives the treasury the green light to research and develop a digital equivalent to the U.S. dollar.

 

**Conclusion**

This is a big step forward for the future of cryptocurrency innovation and development within the United States. More regulation regarding digital assets may seem undesirable to some, however it will be vital to the development of web3 now and in years to come!

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)

**CHANGE THE WAY YOU TRADE**

Earlier this month, on March 9th, 2022, U.S. President Joe Biden signed the United States’ first of a kind executive order on cryptocurrency regulation. The order doesn’t lay out any specific positions, rather it directs federal agencies to coordinate their approach within the digital asset sector. The release of this executive order DID NOT include any new regulations for cryptocurrency companies to abide, rather the order was intended to direct federal agencies to do a better job of communicating their work regarding digital assets.

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US Executive Crypto Order: What Does it Mean?

**The DXY**

Few indexes are more effected by geopolitics than the US Dollar Index, or DXY. The DXY is a measure of the value of the U.S. Dollar in a relative perspective to six other foreign currencies. It is maintained by Intercontinental Exchange Inc, or ICE. The basket of currencies which currently make up the DXY are listed as follows:

 

-	The Euro (EUR) at 57.6%
-	The Yen (JPY) at 13.6%
-	The Pound Sterling (GBP) at 11.9%
-	The Canadian Dollar (CAD) at 9.1%
-	The Swedish Krona (SEK) at 4.2%
-	The Swiss Franc (CHF) at 3.6%

 

The DXY is a solid example of how much the media alone can affect the markets. The DXY often increases on days where there is dollar-positive news and decreases on days where there is dollar-negative news. As an example, The DXY will rise whenever the USD is mentioned on television, in a positive light. In the same way, the DXY will lower in value when dollar-negative news – such as war casualties – are at the forefront of the media.

 

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**COVID-19**

Anyone who was holding cryptocurrency through the middle of March in 2020 undoubtably felt the financial pain that can come of global events firsthand. Between March 16th and March 17th of 2020 every trading market and asset class suffered a great deal of immediate selling pressure and cryptocurrency got the brunt of it. This was obviously due to the global fear and uncertainty associated with the early stages of the Corona Virus.

The intense amount of selling pressure caused by the beginning of the pandemic also had a latent yet extremely bullish effect on the total cryptocurrency market cap. Although Bitcoin hit a low of $3,000 when the selling pressure was the greatest, the pandemic set the stage for a rally that led to one of Bitcoin’s most significant all-time highs. The staggering number of people receiving government stimulus checks during the lockdown generated a newfound public interest in cryptocurrency. The desire to generate more income, combined with the sheer boredom that came from the lockdown created an interest in cryptocurrency within a new demographic that may have not been so quick to jump in the crypto train otherwise.

 

**Conclusion**

The current geopolitical situation that is developing between Russia and Ukraine has already proven to have an impact on the global economy and trading markets. The Russian Ruble has lost a significant amount of its value due to the current conflict. Peer to peer Bitcoin transactions have already become more common in Ukraine, as Bitcoin is less heavily affected by conflict, due to its decentralized nature. As far as what the future holds, we are still unsure. We do know for certain that this conflict will affect crypto, be it in a negative or positive way.

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)
**CHANGE THE WAY YOU TRADE**

One of the most fascinating aspects of cryptocurrency trading, and indeed all forms of trading is the connection between the technical and fundamental analysis which we can look at on a chart, and the current state of global affairs. Although there are exceptions here and there, the geopolitical state of the world tends to have a profound effect on the markets. Sometimes this effect of geopolitics on an asset is bearish, while other times the effect is bullish. Often, we will see a mixed bag of both bearish and bullish news, as it applies to different assets and indexes in different ways.

Geopolitics and Investing

**Microsoft Makes big Moves in the Metaverse**

Today, January 20, 2022, Microsoft announced the upcoming purchase of videogame giant, Activision Blizzard, for a whopping $70 billion. This purchase will effectively put Microsoft in the leading spot within the $175 billion videogame industry. In this piece, we will discuss how this purchase may affect crypto.

 

**Activision’s Claims to Fame**

Over the years, Activision has made a major name for itself. Not only has Activision produced some of the most popular video games of the last few centuries, but is also one of the few video game production companies which produces games for every platform, including cell phones and tablets. Some of the most notable titles created by Activision include Call of Duty, Candy Crush, and World of Warcraft.

 

**The Growth of the Metaverse**

Microsoft’s interest in Activision is greatly influenced by the sudden growth of metaverse projects. Bill Gates has always been an avid supporter of cryptocurrency since Bitcoin first appeared back in 2009. Microsoft describes this deal as a way to strengthen the company's hand within the metaverse, and stay competitive with other large companies which are making big metaverse moves like Facebook. This deal will also strengthen Microsoft’s stance amongst the company’s newer competitors in the gaming world, Amazon and Google.

The chief executive of Microsoft’s gaming businesses, Phil Spencer stated that gaming will be at the forefront of making the metaverse mainstream. For now, the acquisition will be beneficial to Microsoft in the area of mobile gaming, as Microsoft barely has a presence.

 

**Gaming and Crypto**

Cryptocurrency and gaming have undoubtably formed a connection with one another, especially with the advent of smart contract enabled platforms. NFTs have now play a greater role than ever within the world of video games. Given how the metaverse is expanding, it’s not inconceivable to think that videogames may eventually be played on blockchains rather than gaming councils. 

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)
**CHANGE THE WAY YOU TRADE**

Microsoft has recently announced the upcoming purchase of videogame development company Activision Blizzard. The purchase of Activation will be the largest purchase Microsoft has ever made, at $70 billion. Microsoft is purchasing Activision to gain a greater foothold in the metaverse. 

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Microsoft Makes big Moves in the Metaverse

**Visa Partners With ConsenSys to Build CBDC Technology**

Today, January 13, 2022, Visa announced a partnership with ConsenSys – a blockchain technology solutions firm – to aid in the design of future Central Bank Digital Currencies, or CBDCs. With CBDCs popping up all around the world, it seems as if it is just a matter of time before we will see the deployment of CBDC counterparts for many of the world’s predominant fiat currencies sooner than later. In this piece, we will discuss CBDCs, and how Visa’s partnership with ConsenSys is aiming to accelerate this new variety of currency.

 

**What are CBDCs**

Central Bank Digital Currencies are digital equivalents to fiat currencies. They can be exchanged at a 1:1 ratio for the fiat currency of their respective country. A country’s fiat currency and CBDC share the same value at any given time.

At the surface level, CBDCs appear to be very similar to fiat-backed stablecoins, but there are some key differences. Fiat-backed stablecoins can only be minted when the issuing authority has the equivalent amount of the fiat currency the stablecoin represents held in assets. a stablecoin issuing authority – such as Tether – needs to be able to prove that the assets that they are holding have to be worth more than, or equal to the amount of value that is being represented in USDT tokens.

CBDCs on the other hand, are controlled by the central banks of their respective countries. With almost no effort, the central bank can increase or decrease the amount of CBDC coins that are in circulation, which directly effects the inflation or deflation of its respective currency. Furthermore, with CBDCs, there is no need for fiat currencies to be kept in a bank. 

Although most of us in crypto don’t have high opinions of banks, they are in many ways a necessary evil in the current fiat system. Even though banks hold most of the fiat currency that is being circulated, it still belongs to the person responsible for the account. If one was so inclined, they could withdraw all of their fiat currency out of their account as bank notes and stash them under their mattress. With CBDCs, this is impossible.

This is because CBDCs exist on one central database, that is solely controlled by the central bank. If the central bank was so inclined, they could freeze accounts, track payments, and even deny transactions between specific entities or individuals. Now of course, each government that is either working on, or has released a CBDC project has vowed to never use CBDC as a means to spy on, or interfere with peoples’ lives, but historically speaking, it is unsettling to give that much immediate control to one governing body.

 

**CBDCs vs. Crypto**

CBDCs are technologically like cryptocurrencies. The big difference between CBDCs and cryptocurrencies is that CBDCs are centralized, and controlled by the government, while cryptocurrencies are decentralized; meaning they are owned and controlled by the entire community of individuals who participate in the network. Cryptocurrencies can’t be manipulated by governments, or any other single entity, with the flick of the wrist. This is why it is so important that we have cryptocurrencies to use as a store of value, and system of transaction, given the way the world – and its governments – inevitably change over time. 

 

**Visa and ConsenSys**

Visa has and Consensus are working together to build what they are referring to as an “on ramp” or sandbox to mint CBDCs. They will be using the Quorum protocol: a protocol designed by ConcenSys. Although this new rollout of CBDCs is not expected to take place until the spring, it is evident that CBDCs are growing in popularity at a greater rate than ever.

 

# [Killer Whale Crypto](https://killerwhalecrypto.com/)
**CHANGE THE WAY YOU TRADE**

CBDCs are becoming more popular by the moment amongst world governments. Although they share many similarities with both fait currencies and cryptocurrencies, they are something new entirely. Visa has begun working with ConsenSys to create a new way for governments to mint CBDCs.

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Visa Partners With ConsenSys to Build CBDC Technology

**Los Angeles Welcomes the Crypto.com Arena!**

The Staples center in Los Angeles California is getting a new name: the Crypto.com Arena! Crypto.com has just announced the purchase of the naming rights to what was formally known as the Staples center. The deal was made between Crypto.com and AEG, on Tuesday, for a whopping $700 million, making this one of the biggest deals in sports history.

Crypto.com is a full-service cryptocurrency company that offers crypto Visa cards, crypto eGift cards for over 300,000 shops, and even offers an exchange for users outside of the United States. In fact, many Killer Whale users use the Crypto.com exchange along with their [**Killer Whale Products**](https://killerwhalecrypto.com/). 

AEG Chief Executive Dan Beckerman stated in an interview that a blockchain finance company is exactly what downtown L.A. needs. “Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events.”

This is not the first time that a cryptocurrency finance company has branded a sports arena. On June first, 2021, the American Airlines Arena in Miami Florida was rebranded as FTX Arena, after forming a partnership with the cryptocurrency exchange, following a $135 million deal.

Currently, Crypto.com and AEG are still working out the terms and extant of their partnership. It is incredibly likely that cryptocurrency payments and purchases within the arena are around the corner. One thing we do know for sure is that 3,300 square feet of the entrance to the arena will be dedicated to the Crypto.com “Activation Space.” This “Activation Space” will feature cryptocurrency focused, interactive activities, to promote cryptocurrency adoption amongst the general public. The Crypto.com Arena in downtown Los Angeles is the home of the Lakers, Clippers, Kings and Sparks, and will be rebranded by December 25th, just in time for the holidays!

 

**Conclusion**

The Crypto.com Arena is a big step towards educating the public about cryptocurrency and its adoption. Crypto.com’s chief executive Kris Marszalek believes that this new name will eventually be seen as a sign of the times. With great progress such as this comes great adoption and price action later on down the road! Be sure to check out the [**Killer Whale Products Page**](https://killerwhalecrypto.com/) to find the Killer Whale Signals and Strategies that are right for you!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Crypto.com has just purchased the rights to rebrand Los Angeles's Staples Arena as the Crypto.com arena! The rebranding will take place on December 25th of this year! The rebranded stadium will also feature an interactive cryptocurrency "Activation Space" in which guests can learn about cryptocurrency in an interactive music and sports themed environment 

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Los Angeles Welcomes the Crypto.com Arena!

**AMC Theaters is Now Accepting Cryptocurrency**

Following a recent announcement made earlier this year, AMC Theaters is now accepting Cryptocurrency for online purchases tickets! In this article we will discuss how crypto-positive companies like AMC are good for cryptocurrency. we will also talk about how adoption helps the performance of [**Killer Whale Signals and Strategies**](https://killerwhalecrypto.com/).

 

**AMC**

AMC is an American movie theater chain headquartered in Kansas. Currently, AMC is the largest movie theater chain in the world and was founded over 100 years ago, in 1920. Throughout 2021, AMC has repeatedly made the headlines and is considered to be one of the kings of the “memestock” phenomenon, alongside GameStop, all thanks to WallstreetBets. In August, AMC announced that they would allow guests to pay for tickets online with Bitcoin by the end of the year, and it would appear that they have made good on that promise. In addition to Bitcoin (BTC), AMC is also accepting Ethereum (ETH), Bitcoin Cash (BTH), and Litecoin (LTC).



Further down the road, AMC will also be accepting Dogecoin (DOGE) and is looking into the potentiality of accepting Shiba Inu (SHIB) as well. Note that users will not be able to purchase anything with crypto in in person. This only applies to online sales. 

 

**How Adoption helps Crypto**

When companies such as AMC adopt cryptocurrency, not only does it paint cryptocurrency in a more positive light in the eyes of the sceptics, it aids in increasing the total market caps of cryptocurrency as well. If people are using their cryptocurrency to purchase things like tickets from AMC, they will likely replace the crypto they spent so that they do not miss out on its appreciation in value. This process is nothing but good for the total market cap of cryptocurrency.


Bitcoin, Ethereum, Bitcoin Cash, and Litecoin are incredibly solid choices for AMC to begin accepting. All of these coins have been in the top 10 at one point or another, and three of them (Bitcoin, Bitcoin Cash, and Litecoin) are legacy coins. This means that almost every [**Killer Whale Signal and Strategy**](https://killerwhalecrypto.com/) will benefit from the adoption of this currency basket in one way or another. Because Bitcoin and Ethereum have been the most highly adopted currencies for payment in recent years, strategies such as [**Killer Whale Gain BTC**](https://killerwhalecrypto.com/product/gain-btc) and [**Killer Whale Gain ETH**](https://killerwhalecrypto.com/product/gain-eth) have seen stable upwards growth. [**Killer Whale Elite Signals**](https://killerwhalecrypto.com/product/killer-whale-elite) has also been seeing some excellent returns from Bitcoin and Ethereum, especially as both currencies have hit new all-time highs so recently! Be sure to check out the [**Killer whale Products Page**](https://killerwhalecrypto.com/) to find out what Killer Whale signals and strategies are right for you!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

AMC theatres has begun accepting cryptocurrency as payment! Guests can now pay for AMC products like tickets with Bitcoin, Ethereum, Bitcoin Cash, and Litecoin! Companies like AMC allowing crypto payments is a big step for cryptocurrency as a whole.

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AMC Theaters is Now Accepting Cryptocurrency

**Bitcoin Miami 2022: What to Expect**

Cryptocurrency conferences have been all the rage over the course of the last decade. Many of us have heard of conferences such as Bitcoin Miami, but relatively few crypto enthusiasts have had the opportunity to visit one. In this article series, we will be looking at what kinds of things we can expect over the course of next year’s cryptocurrency conferences!

 

**Bitcoin Miami**

Being one of the most well-known annual crypto conferences, Bitcoin Miami is fitting to be at the top of the list. Bitcoin Miami is hosted by Bitcoin Magazine; a cryptocurrency publication, cofounded in 2011, by nonother than Ethereum mastermind, Vitalik Buterin. Bitcoin Miami was originally hosted in Los Angeles, California, but moved to Miami Florida. This is due to Miami Mayor Francis Suarez’s initiatives to establish Miami Florida as “the world’s crypto capital.” Mayor Suarez is one of the most bullish U.S. Politicians when it comes to cryptocurrency, which is not only evidenced by Suarez’s decision to receive his next paycheck in Bitcoin, but Miami’s initiative to give out a “Bitcoin Yield” to its citizens; as was announced by mayor Suarez, to CoinDesk TV, earlier this morning.

Bitcoin Miami 2022 will be hosted Between April 6th to April 9th and will feature three key subevents. The first subevent – taking place on day 1 – is known as “Industry Day.” During this subevent, there will be more than 6,000 global industry leaders, as well as 80 speakers, and 4,000 companies present. This first day will essentially act as “pitch day.”

Days 2 and 3 will consist of the main event. There will be a huge lineup of exciting speakers. Currently we can expect to see Adam Back, Vijay Boyapati, Greg Foss, Alex Gladstein, American HODL, Alyse Killeen, Steve Lee, Stephan Livera, Matt Odell, Preston Pysh, Craig Raw, Michael Saylor, Elizabeth Stark, Andrew Yang, and Ray Youssef. Bitcoin Miami will also feature a cryptocurrency art gallery, A Bitcoin Bazaar, and various other features and activities for those who purchase a “Whale Pass,” rather than a regular ticket.

 

**Day 4: Sound Music Festival**

Day 4 is more of a big crypto-dance-party than a cryptocurrency conference. Bitcoin Miami Sound Music Festival in 2022 will be hosted by rap icon Logic, along with 17 other major recording artists, spanning the genres from Hip-Hop to K-Pop. Bitcoin Miami 2021 featured artists such as Deadmau5, Major Lazer, Swae Lee, and G-Eazy.

 

**Bitcoin Miami Whale Pass**

The Bitcoin Miami Whale Pass unlocks exclusive access to all four days of Bitcoin Miami. Much of the information regarding the perks that come from purchasing a Bitcoin Miami Whale Pass is kept relatively quiet; however, we can gather some info from previous Bitcoin Miami Whale Pass attendees. In previous years, Whale Pass HODLers were given front row access and backstage passes to all of the musical events that took place during previous events, as well as multiple one-on-one meet-and-greets with some of the most influential people within the crypto space. Keep in mind however, Whale Passes in 2021 cost upwards of $20,000.

 

**Conclusion**

Bitcoin Miami as well as every other cryptocurrency conference provides vital fuel for the acceleration of cryptocurrency adoption. With cryptocurrency conferences becoming more and more tied into the concert circuits of headlining music artists, an even wider variety of people are exposed to crypto in a positive way each year. Be sure to check out the [**Killer Whale Products Page**](https://killerwhalecrypto.com/), to see which Killer Whale Signals and Strategies are right for you!

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Bitcoin Miami is the most well known cryptocurrency convention to date. Bitcoin Miami features a large lineup of guest speakers and musicians. Bitcoin conferences such as Bitcoin Miami are vital to cryptocurrency adoption. Be sure to check out our Killer Whale Signals and Strategies to take advantage of this advantageous growth associated with this next year's Crypto conference lineup! 

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Bitcoin Miami 2022: What to Expect

**Bakkt Partners With Google**

Digital asset custodian Bakkt has partnered with Google, introducing digital assets through Google Pay to millions of users. Bakkt and Google announced this partnership on Friday, October 8th, 2021 as a means of extending the usability of cryptocurrency to the evolving customer demand. Users will be able to add their virtual Bakkt Visa Debit Card to google pay, allowing consumers the ability to purchase anywhere Google Pay is accepted. Digital assets like Bitcoin will be converted to fiat currency for payments to occur to purchase everyday goods and services, both in store and online.

Bakkt has also chosen to use the Google Cloud services to build new artificial intelligence, geolocation tools, machine learning, and analytics, which they will market to retailers and merchants in the United States. Some of the benefits which Bakkt customers will gain from this partnership include expanded options for loyalty programs, while providing valuable customer behavior patterns to Bakkt’s partners.

Bakkt CEO Gavin Michael stated that the partnership between Bakkt and Google is a testament to Bakkt’s strong position in the digital asset marketplace. Mitchel also stated that partnering with Google Cloud will enable Bakkt to continue to build a best in class, innovative platform that can scale to meet the needs of millions of users. 

Google cloud president, Kristen Kliphouse states “Google Cloud has been at the forefront of accelerating digital commerce, powering many retailers and merchants. We are proud to help Bakkt accelerate and scale the availability of their innovative solutions powered by our technologies.”

Within the last month, Bakkt has launched an outstandingly well performing IPO on the New York Stock Exchange and partnered with Mastercard, to allow Mastercard’s vendors the ability to accept digital assets as payment. In addition to this, users can now download the recently released Bakkt app from the Google Play Store and the Apple App Store. The Bakkt App offers consumer spending and loyalty programs.

 

**Conclusion**

Bakkt has made a tremendous amount of progress in the push towards cryptocurrency adoption, especially within recent months. With this new found adoption comes new found price action, so be sure to check out the [**Killer Whale Products Page**](https://killerwhalecrypto.com/) to see which Killer Whale Signals and Strategies are right for you, such as [**Killer Whale Large Cap Sector Strategy**](https://killerwhalecrypto.com/product/large-cap) and [**Killer Whale Premium Signals**](https://killerwhalecrypto.com/product/premium)!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

On 0ctober 8th, 2021, Bakkt partnered with Google for a variety of reasons. First, Google Pay users will now be able to spend their digital assets anywhere that accepts Google Pay. Furthermore, Bakkt will be using Google Cloud Services to develop a toolbox of new and powerful features for both Bakkt's customers and partners.

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Bakkt Partners With Google

**Helium Teams up With Dish Network**

Helium announced a new bullish partnership with the television service Dish Network on October 26, 2021. Dish is the first major carrier to join the Helium network. This partnership will likely be serendipitous for both Dish and Helium. Dish will now be able to benefit from the potential growth that blockchain technology can contribute to the wireless industry, and the Helium project will benefit from the incorporation of its first major partner.

Helium has grown steadily since its inception. Currently, Helium boasts more than 256,000 nodes worldwide, which are operated by over 93,000 users. Helium continues to see an increasing amount of support from a variety of hardware manufacturers, which produce Long Fi hotspots that are compatible with the Helium network. Helium’s partnership with Dish Network will allow the much needed additional support of devices like smartphones, laptops and tablets. 

The partnership between Dish Network and Helium was made possible by a community vote, which took place last April. This vote approved the addition of a secondary 5G network within the Helium protocol, due to another partnership with the open software and commodity hardware company FreedomFi.

FreedomFi produces wireless portals which enable users to broadcast the Long Fi signals which allow users to interact with the Helium network. FreedomFi routers also enable the 5G wireless capabilities which Dish Network requires for broadcasting their wireless network.

Helium COO Frank Mong stated in an interview: “Dish understands the potential blockchain can have on the wireless industry, and as the first major carrier to join The People's Network, this partnership is real validation that the HNT incentive model is a powerful tool for deploying infrastructure at scale. Together with Dish and FreedomFi, Helium 5G will have a much broader reach where the customer benefits from the flywheel of network incentives and the applications it enables.”

 

**Conclusion**

New partnerships such as this are indicative of the increasing adoption of cryptocurrency-based projects and blockchain technology. Helium is quickly becoming one of the most lucrative projects within the cryptocurrency space and proves that blockchain technology can contribute to and improve upon how we interact with the broadcasting services which we take for granted.
 Be sure to check out the [**Killer Whale Products Page**](https://killerwhalecrypto.com/) to find the right signals and strategies that work with your investment goals!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Dish Network has teamed up with Helium to expand their network, and capitalize on the benefits of blockchain technology! this new partnership is beneficial to Helium users as well as Dish Network customers. The Helium/Dish partnership is a great step forward in the adoption of cryptocurrency!

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Helium Teams up With Dish Network

**Mastercard Partners with Bakkt**

On Monday, October 25, 2021, Mastercard is in the process of preparing an announcement detailing their new partnership with Bakkt, which will allow banks and merchants to include cryptocurrency into their products. This includes Bitcoin wallets as well as credit and debit cards that earn cryptocurrency enabled rewards. This partnership will also allow its users to spend cryptocurrency with merchants who use Mastercard’s services. 

 

**Bakkt IPO**

(Bakkt Holdings, Inc. NYSE)
![BKKT chart.png](https://duj27fxoqhxbb.cloudfront.net/BKKT_chart_62a19e418a.png)

The cryptocurrency custodian and exchange platform Bakkt went public on the New York Stock Exchange a little over a week ago, on October 18th, 2021. One week later, the partnership between Bakkt and Mastercard was announced, while Bakkt’s stock price went serendipitously soaring through the roof, nearly tripling in value by Monday’s close. If you would like to read more about Bakkt, check out our article on the [**Bakkt IPO**](https://killerwhalecrypto.com/article/bakkt-goes-public-on-nyse-under-ticker-symbol-bkkt-today).

 

**What this Means for Adoption**

One of the biggest challenges when it comes to cryptocurrency adoption amongst the general public is its perceived lack of accessibility. It is still considerably easier for most people to transact in fiat currencies, because of things like cash, credit, and debit cards. Cryptocurrency exchanges partnering up with banks and credit card companies, offering debit cards with cryptocurrency functionality is nothing new (Crypto.com as an example). The big difference between crypto cards like these and what Mastercard is doing with Bakkt, is that before, users would have to actively seek out crypto cards, while Mastercard is placing that functionality in their customer’s hands; opening a door that may not have otherwise been opened by many of their users.

According to the Mastercard New Payments Index, the number of millennials who are interested in learning more about cryptocurrency has reached 77 percent this year. More importantly, 75 percent of millennial respondents stated that they would use cryptocurrency if they understood it better. In a similar survey of 2,000 customers conducted by Bakkt, half the respondents reportedly purchased cryptocurrency within the first six months of 2021.

 

**Conclusion**

Any news surrounding Bakkt – particularly within the last month – has been incredibly bullish. Between the Bakkt IPO and Bakkt’s partnerships with both Google and Mastercard – all within the last three weeks – the name Bakkt is nearly synonymous with cryptocurrency adoption.

With this wave of new cryptocurrency users entering the market, we highly recommend checking out the [**Killer Whale Products Page**](https://killerwhalecrypto.com/). Just take a look at the current performance of [**Killer Whale Large Cap Sector Strategy**](https://killerwhalecrypto.com/product/large-cap)!

 

(Killer Whale Large Cap)
![lcss stats.png](https://duj27fxoqhxbb.cloudfront.net/lcss_stats_0f634cbf6e.png)

 

(Killer Whale Large Cap)
![lcss trades.png](https://duj27fxoqhxbb.cloudfront.net/lcss_trades_6a81671046.png)

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Yesterday Mastercard partnered with cryptocurrency  custodian Bakkt. The partnership will allow all vendors who accept Mastercard, to also accept cryptocurrency as payment, in one of the most bullish moves in cryptocurrency adoption we have seen in a while! The stock price of Bakkt (BKKT) on the NYSE has also been showing some fantastic performance since the Bakkt IPO which took place last week.

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Mastercard Partners with Bakkt

**Novi: The Facebook Wallet**

For years, Facebook has been discussing adding a cryptocurrency wallet to its list of products. As of Tuesday, October 19, 2021, the Facebook wallet is finally a reality. In this article we will be taking a look at the Novi wallet.

 

**What is The Novi Wallet**


More than two years after it was originally announced, Facebook has officially released the Novi digital wallet. The Novi wallet currently only utilizes the Paxos Dollar USD stablecoin (USDP). This “small pilot” program is available in the United States and Guatemala and will allow its users to send and receive money “instantly, securely, and with no fees.”

The pilot release of the Novi wallet is meant to test “core feature functions, and operational capabilities in customer care and compliance,” according to the head of Facebook Financial (F2), David Marcus. This early release of the Novi wallet is also meant to demonstrate the viability of using stablecoins for payments, over the more traditional fiat-based payment systems that are currently being used by Facebook customers. Paxos USDP is currently the only currency being used for the pilot version of Facebook’s Novi, however other currencies will reportedly be available on the platform after the release of the full-featured digital wallet.

 

**Paxos USDP**

Paxos Trust Company is a financial institution, specializing in blockchain technology. Paxos has been around since 2012 and is classified as a “Limited Purpose Trust Company,” Based in New York. The most notable products by Paxos include the itBit Digital Asset Exchange and the Pax Dollar (USDP) stablecoin, formally known as Paxos Standard (PAX).

 

**Novi and Coinbase**

The Facebook team has chosen to work with Coinbase for custodial support during the Novi pilot run. Novi users participating in the pilot can acquire USDP through their Novi wallet, which Novi will hold, on deposit with Coinbase. Users of Novi will also receive the benefit of coin base custody’s industry leading insurance program, which features a $320 million commercial crime policy.

 

**Novi and Diem**

One of the more curious aspects regarding the Novi pilot launch, is that Novi does not currently support the Diem coin, even though Diem is still a major cornerstone of the project. Diem is a Facebook-backed cryptocurrency which was originally released as the Libra coin. The Libra coin was renamed to Diem to distance the project from Facebook. Libra came under heavy fire when it was first announced. Multiple partners of the project pulled out of Libra, including PayPal, Visa, Mastercard, Stripe, Mercado Pago and eBay several months after the project went live. Diem plans to release one singular USD stablecoin, rather than the stablecoin basket which Facebook had initially planned on releasing under Libra.

 

**Conclusion**

As we all know, Facebook has a tremendous public presence. Facebook Pay gained a large amount of popularity since it was launched several years ago, and it is likely that Novi – acting as Facebooks branch into Stablecoin-based payment services – will create a larger public interest in cryptocurrency payments. With adoption comes higher highs in the cryptocurrency market, as is evidenced by today’s new all time high for Bitcoin. Be sure to check out products like [**Killer Whale Large Cap Sector Strategy**](https://killerwhalecrypto.com/product/large-cap) and [**Killer Whale Premium Signals**](https://killerwhalecrypto.com/product/premium) on our [**Killer Whale Products Page**](https://killerwhalecrypto.com/)!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

On October 19th of 2021, Facebook launched their official cryptocurrency wallet. The Novi wallet is in its pilot stage and will allow users to send and receive stablecoins instantaneously and for free. 
Novi has partnered with Coinbase and Paxos to test the core features of the Novi wallet.

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Novi: The Facebook Wallet

**Bakkt Goes Public on NYSE Under Ticker Symbol BKKT Today!**

Today is a big day for Bakkt. The cryptocurrency custodian and exchange platform, which is owned by Intercontinental Exchange (ICE) has officially gone public on the New York Stock Exchange. This is due to Bakkt completing its merger with VPC Impact Acquisition Holdings. Bakkt is set to trade under the ticker symbol BKKT.

 

**What is Bakkt**

Bakkt is owned by intercontinental exchange (ICE) which is also the parent company of the New York Stock Exchange (NYSE). Bakkt enables institutional investors the ability to speculate on the price of Bitcoin. This is achieved in the form of futures trading. This allows institutions the opportunity to buy and sell digital assets – such as Bitcoin – in a US federally regulated environment. Bakkt aims to provide the volume and security of Bitcoin to traders who prefer using traditional stock exchanges.

Unlike other custodial cryptocurrency exchange platforms, Bakkt allows for trades to be physically settled in Bitcoin, rather than fiat cash. Traders receive Bitcoin in their account, rather than USD. All the Bitcoin, which is used for this, is stored by Bakkt and utilizes a separate ledger that records how the stored Bitcoin is being traded, as opposed to physically moving the Bitcoin.

 

**Bakkt’s Inception**

Bakkt was first created back in 2018; however, the project did not get off the ground until September 23rd of 2019. Bakkt was created by ICE, therefore the custodial currency exchange is owned by the chairmen of the New York Stock Exchange, Jeffery Sprecher. Sprecher created Bakkt after noticing the large number of traditional Wall Street investors were interested in getting involved with cryptocurrency but was also hesitant to participate in the digital asset class, because they were uncomfortable with using cryptocurrency exchanges which existed outside of the New York Stock Exchange. ICE created Bakkt to fill this investor demand.

Kelly Loeffler who originally served as the CMO of ICE, was originally appointed by Jeffery Sprecher to be the CEO of Bakkt; however, Loeffler resigned her position, to become a US senator, towards the end of 2019. Former PayPal vice president of engineering – Mike Blandina – assumed the role of CEO in Loeffler’s absence. Shortly thereafter, David Clifton – who was then serving as Associate General Counsel for ICE – succeeded Blandina. Lastly, Gavin Michael – Citi’s former head of technology – assumed the position. Michael still currently holds the CEO position for Bakkt.

 

**Where Bakkt is Going**

Bakkt has recently partnered with Finastra. Finastra is a global leader in financial services software and is in fact one of the largest fintech companies in the world. This partnership brings Bakkt’s cryptocurrency marketplace options to Finastra’s money transfer customers. Bakkt will also bring its cryptocurrency marketplace to the Finastra Wallet. 

Bakkt is planning on adding artificial intelligence, machine learning, and analytics to leverage the industry-leading tools offered by the Google Cloud. The insights provided by Bakkt will be highly beneficial to Google, as it will offer a great degree if information to the platform, regarding customer behavioral patterns.

 

**Conclusion**

This is a big step forward in Bitcoin adoption, as the public offering of Bakkt on the New York Stock Exchange represents yet another new option for indirect investment opportunities in Bitcoin. Bitcoin adoption such as this is incredibly important because it not only places Bitcoin in the spotlight but presents an opportunity for high volume investors to buy into the digital asset, in a way which makes them feel comfortable. With Bitcoin – and overall cryptocurrency adoption on the rise – we at Killer Whale highly recommend checking out our [**Killer Whale Products Page**](https://killerwhalecrypto.com/) to find the Killer Whale Products – such as [**Killer Whale Large Cap Sector Strategy**](https://killerwhalecrypto.com/product/large-cap) – which are right for you!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Cryptocurrency custodian and exchange platform Bakkt went public today on the NYSE, under the ticker symbol BKKT! Bakkt was created by ICE and allows traditional investors the ability to take advantage of Bitcoin, within the traditional markets. Bakkt has partnered with many big name companies for various reasons since 2018, and plans on  forming even more advantageous partnerships sooner than later!

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Bakkt Goes Public on NYSE Under Ticker Symbol BKKT Today!

**Cardano (ADA) Turns Four Years Old!**

February 29th, 2021 marks the Cardano protocol’s Fourth birthday! On Wednesday, the Cardano team made an announcement detailing the celebration of the project. The celebration was hosted at several locations as well as online. Due to covid, this is the first time the Cardano Foundation was able to host a live event since the Project turned two, back in 2019.

 

**“#ADAversary3” Celebration of 2020**

Last year, the Cardano Foundation urged fans of the project to participate in an online celebration, by creating and sharing any Cardano related material they would like. Cardano collected and shared the community content overtime on various social media platforms. There was a relatively large amount of content created by the Cardano fanbase, mostly consisting of Cardano stories, specially written songs, photos, and a variety of other material.

 

**Cardano’s Progress**

The Cardano protocol has seen many advancements within this last year. From the projects listing on Grayscale, to the implementation of the new Shelley mainnet, Cardano’s development does not seem to be showing any signs of slowing down in the near future. “We have already achieved so much this year with the rollout of Shelley, the transition to the Shelley mainnet, the strengthening of our Foundation’s leadership, and multiple other milestones” the Cardano Foundation stated on their blog. “Soon, we will also begin the rollout of the first Goguen components and launch our Developer Portal.”

Not only has Cardano made great technological advancement over the course of this year, but the ADA has shown some unbelievably bullish price action as well. At the beginning of 2021, Cardano went from trading around $0.25 all the way up to a peak of over $3 last August. There are many people who believe Cardano is only beginning to tap into its potential. Killer Whale included.

 

**Killer Whale Products**

There are many Killer Whale Products you can choose from, which will allow you to benefit from Cardano as well as many other great projects! These products include [**Killer Whale Large Cap Sector Strategy**](https://killerwhalecrypto.com/product/large-cap), [**Killer Whale Ultimate Strategy**](https://killerwhalecrypto.com/product/killer-whale-ultimate) and [**Killer Whale Pro Strategy**](https://killerwhalecrypto.com/product/pro), although any of our strategies and signals will give you the Killer Whale market advantage through advanced algorithmic intelligence and trading experience! 

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

September 29th marks Cardano ADA's Fourth birthday! The Cardano Foundation is urging its users to share any Cardano related content which they have created with the Cardano community on social media. Cardano has advanced greatly over the last year and is one crypto project worth getting into!

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Cardano (ADA) Turns Four Years Old!

**Coinbase Will Soon be Accepting Payroll Checks!**

Monday, September 27, 2021 Coinbase announced that they will soon be adding some payroll functionality to their list of services! The nine-year-old US based cryptocurrency exchange will be accepting direct deposits from their users for no fee. Users of Coinbase will be able to deposit “as much or as little” of their paycheck as they would like, in the form of cryptocurrency, fiat or both. This new feature will be rolling out within the next few weeks.

Coinbase added this new functionality to improve their user experience by allowing their customers faster and feeless access to digital assets. In their own words, this will eliminate the “extra steps it takes to move money.” Coinbase believes that adding a direct deposit feature will tackle one of the most common user issues with the platform. According to Coinbase, the largest number of customer complaints have to do with transfers between traditional banks and the exchange. Customers often claim that “making frequent transfers is time-consuming and inconvenient.”

Coinbase users in the US will soon have access to many of the features which were previously only available through traditional banking. The Exchange will also be releasing a “Coinbase Card” in the near future. The Visa debit card will allow users to spend crypto anywhere Visa is accepted, while earning up to 4% crypto back rewards. Both of these features combined with the fact that Coinbase is FDIC insured for US customers, means the exchange will be giving traditional banking in America a real run for its money (pun intended)!

 

**How Will Coinbase Direct Deposit Work?**

Coinbase aims to make the direct deposit feature as simple and user friendly as possible. Users will be able to deposit payroll checks right in the Coinbase app for mobile by following a few simple steps. Users will only have to set up the direct deposit feature once, and there will be a button to deposit checks added directly to the homepage. As previously mentioned, users will be able to deposit checks into fiat, or 100+ cryptocurrencies, or both.

 

**Other Payroll Features**

In addition to direct deposit functionality for users, Coinbase is also making it easier for businesses to pay their employees in crypto. The exchange has partnered with Fortress Investment Group, M31 Capital, Nansen, and SuperRare Labs in order to make payroll through cryptocurrency an accessible and viable option for employers.

 

**Conclusion**

Coinbase’s moves to bridge the gap between traditional banking and cryptocurrency is exactly the kind of adoption that will encourage more and more people to use cryptocurrency for everyday purchases. It’s hard to say if over 56 million users will want to deposit their checks directly into cryptocurrency right off the bat, but over time, the greater access to cryptocurrency will only be positive for price action. Adoption has a way of bringing the bulls to town! We believe the best way to capitalize on this growing market starts by visiting the [**Killer Whale Products Page**](https://killerwhalecrypto.com/) to find out which ones are right for you!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

The cryptocurrency company Coinbase will soon be accepting payroll checks as an option to fund accounts. Coinbase will convert paychecks into the users choice of over 100+ cryptocurrencies with no fee, or users can simply deposit their checks as fiat currency. Coinbase will also be offering a debit card and cryptocurrency payroll services for businesses in the near future!

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Coinbase Will Soon be Accepting Payroll Checks!

**Twitter Unveils Bitcoin Tipping Feature**

Thursday, the social media platform Twitter announced that users will now be able to tip content creators in BTC! In this article we will discuss why twitter is so bullish about embracing cryptocurrency, as well as what other improvements we can expect to see from the social media company in the near future! We will also discuss which Killer Whale products you can use right now to capitalize on this important step in cryptocurrency adoption. 

 



It’s no surprise that Twitter has taken such a progressive step towards Bitcoin adoption. Twitter’s CEO Jack Dorsey is one of the most vocal supporters behind Bitcoin, claiming that there is likely no other project that is more important to work on than Bitcoin. For this reason, Dorsey has taken up Bitcoin mining in addition to his other projects. Dorsey believes Bitcoin technology and mainstream cryptocurrency adoption is a crucial component for the advancement of world peace.

 

**What Else can we Expect to see**

Allowing Bitcoin tipping between users is only the first step in Twitter’s larger scheme to facilitate cryptocurrency adoption. Twitter is currently experimenting with a feature which will allow its users to showcase their NFT collections through the social media platform. In conjunction with this, twitter announced their plans to release a creator fund to incentivize more users to create and participate in audio rooms and live audio events. Although this incentivization to participate in audio rooms is not directly correlated to cryptocurrency, many of the audio chatrooms which exist across a multitude of platforms are often cryptocurrency themed these days.


 

**Which Killer Whale Products Should you use to Capitalize on this Increase in Bitcoin Adoption?**

There are many fantastic Killer Whale products which you can use to capitalize on Bitcoin adoption as well as the adoption of cryptocurrency as a whole; however, we recommend [**Killer Whale Gain BTC**](https://www.killerwhalecrypto.com/product/gain-btc), [**Killer Whale Ultimate Strategy**](https://www.killerwhalecrypto.com/product/killer-whale-ultimate) and [**Killer Whale Large Cap Sector Strategy**](https://www.killerwhalecrypto.com/product/large-cap) to get the most bang for your buck! Why not all three? We also recommend [**Killer Whale Premium Signals**](https://www.killerwhalecrypto.com/product/premium) for those of you who wish to gain a cryptocurrency market advantage through 100% Killer Whale copy trading!

 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Twitter has officially enabled Bitcoin tipping within it's social media platform! In this article we discuss how users can tip each other in BTC, as well as a few other changes to Twitter we are expecting to see in the near future! We also discuss which Killer Whale products give you the greatest advantage when capitalizing on this growing rate of cryptocurrency adoption!

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Twitter Unveils Bitcoin Tipping Feature

**Cardano ADA Launches Smart Contracts Tomorrow, (September 12, 2021)!**

Big news for Cardano! Tomorrow – September 12, 2021 – smart contract capabilities will be enabled on the Cardano (ADA) network. In this article we will be discussing the potential impact that smart contracts may have on the ADA coin, and which Killer Whale products you can use to take advantage of this insanely bullish cryptocurrency!

 

**Smart Contracts Open Many Doors**

If all goes well with Cardano’s upgrade (which has been rigorously peer-reviewed and back-tested by the Cardano team), developers will be granted the ability to build Decentralized Applications on the Cardano network. This means the Cardano network can be expanded to include leverage DeFi – such as collateralized borrowing and lending, tokenization, NFT minting, and many other Dapps. The decentralized apps on the Cardano blockchain will likely be similar to those which exist on the Ethereum network.

Although Ethereum hosts the largest smart contract ecosystem, many Dapp developers – and the funds backing them – have moved away from Ethereum, and onto other smart contract enabled platforms. Smart contract enabled cryptocurrency projects like Polkadot (DOT), Terra (LUNA) and Solana (SOL) offer lower fees and faster transaction times than Ethereum. This is because Ethereum has struggled with scalability. 

As the Ethereum ecosystem grows larger and more complex, the whole system slows down. This current shortcoming of the Ethereum blockchain is exactly what Cardano aims to take advantage of with the newest upgrade. As Cardano was designed to utilize a proof of stake consensus mechanism from the outset, the Cardano network is inherently faster, more scalable, and more ecologically efficient from the get-go. For this reason, Cardano has been labeled by some as the “Ethereum Killer”; although the validity of this sentiment remains to be seen. Given that Ethereum 2.0 is right around the corner, it is unlikely that Ethereum will be replaced as the world’s predominate smart contract platform anytime soon.

 

**Which Killer Whale Products Take Advantage of Cardano?**

Regardless of whether Cardano eventually flips Ethereum or not, this cryptocurrency project is one of the most innovative we have ever seen in the cryptocurrency space. Even now Cardano is the third largest cryptocurrency by market cap, sitting at $84.22 Billion, with a 24-hour trading volume of $8.63Billion. Once smart contracts are enabled tomorrow it is highly likely that these numbers will only increase. That being said, Killer Whale Strategies such as [**Ultimate Strategy**](https://www.killerwhalecrypto.com/product/killer-whale-ultimate), [**Swing Trade Strategy**](https://www.killerwhalecrypto.com/product/killer-whale-swing-trade), [**Breakout Strategy**](https://www.killerwhalecrypto.com/product/breakout), and [**Killer Whale Large Cap Sector Strategy**](https://www.killerwhalecrypto.com/product/large-cap) are all great options!


 

# Killer Whale Crypto
**CHANGE THE WAY YOU TRADE**

Cardano, ADA, Ethereum, Cryptocurrency, Crypto

Cardano ADA Launches Smart Contracts Tomorrow, (September 12, 2021)!

**Central Bank Digital Currencies are Right Around the Corner**

What was once speculation is now becoming a reality. Central banks around the world are exploring the option of a digitally tokenized alternative to their respective fiat currencies. Some countries are still in their research stages, while others have already deployed their Central Bank Digital Currencies, or CBDCs. In this article we will be taking a look at CBDCs: What they are, why they are being developed, and the potential impact CBDCs will have on cryptocurrency and the economy.

 

**What are CBDCs?**

CBDCS are fiat currencies which are derived from cryptocurrency technology. Unlike cryptocurrencies, CBDCs are completely centralized and controlled by the central bank. While the implementation of CBDCs will simplify many aspects of monetary and fiscal policies, many are concerned about CBDCs eroding the privacy of citizens through financial inclusion.

In some respects, CBDCs originate from the introduction of cryptocurrencies; however, their shared technology – which allows for simplified and direct peer to peer transfers – is used in a completely opposite manner. CBDCs are the flip side of the coin so to speak, compared to cryptocurrencies. CBDCs use the same consensus mechanisms as cryptocurrencies to create a highly centralized monetary system, placing 100 percent control of the tokens in the hands of the government. Although cryptocurrencies do not pose much of a threat to current financial infostructure at the moment, they do have the potential to eventually disrupt the existing fiat system. It is conceivable that central banks are ramping up the development of CBDCs to preempt this possible eventuality; although, it is more likely that CBDC development is more greatly fueled by the desire to create a debtless currency to operate in conjunction with fiat.

CBDCs are yet to make their way into the common knowledge of the general public; however, they are already causing a stir amongst those within the finance space, who are in the know. This is because CBDCs would make it incredibly easy for the government to track every transaction on the network. Furthermore, countries which have deployed CBDCs could potentially tax their citizens automatically, without consent. The central bank could even go as far as to deny access of personal funds to individuals within the CBDC network.

 

**Who is Developing CBDCs?**

Currently, 81 countries around the world – representing 90 percent of global GDP – are pursuing the development of CBDCs. Some countries have already deployed their CBDCs. Not every country is developing CBDCs at the same rate; However, the number of countries exploring CBDCs more than doubled during the pandemic. Some of the most notable nations developing CBDCs are China, South Korea, and Sweden, which are all in their final testing phases of CBDC research. In the United States, the central bank has contracted MIT to design the Digital USD CBDC.

You can find a full list of nations who are developing CBDCs by visiting [**https://cbdctracker.org/**](https://cbdctracker.org/) for more case by case information.

 

**What affect Will CBDCs Have on the Cryptocurrency Market?**

At this point, it is difficult to say how CBDCs will affect cryptocurrency. Some people believe that CBDCs will have a negative impact on cryptocurrency; however, any theories surrounding CBDC’s interaction with the cryptocurrency market is purely speculative. It is possible that CBDCs will even have a positive affect on cryptocurrency, as there will potentially be a higher demand for decentralized assets, as people will likely value the asset class, due to its privacy-centric nature. Cryptocurrencies may very well become even more widely adopted by those who are concerned with the security of CBDCs, especially since cryptocurrencies like BTC can be owned, spent, and already have a predetermined monetary policy.

 

**In Conclusion**

Regardless of people’s opinions concerning CBDCs, they may become a normal part of everyday life, sooner than we know it.

 

## Killer Whale Crypto

CBDC, Central Bank Digital Currency, Cryptocurrency, Crypto, Digital Dollar

Central Bank Digital Currencies are Right Around the Corner

**Circle and USDC: The Most Bullish Names in the Stablecoin Game**

Circle – the developers of the USDC stablecoin – recently released a statement, outlining their plans to become a national digital currency bank. If approved, Circle would become the first national digital currency bank in history. In this article we will be discussing The USDC stablecoin as well as Circle’s plan to become a national digital currency bank.

 

**USDC**

USDC, or USD Coin is the worlds leading digital dollar stablecoin. USDC is issued and regulated by financial institutions and backed by fully reserved assets. USDC tokens are redeemable on a 1:1 basis for US dollars and is governed by the membership-based consortium, Centre. Centre sets the technological, financial and policy standards for stablecoins.

USDC has quickly grown to be the largest stablecoin industry ecosystem in the world. USDC is supported by hundreds of companies, products, and services, which include digital wallets, exchanges, DeFi protocols, as well as savings and lending payment services. Circle created the USDC stablecoin as a business-centric payment solution, aimed at improving upon the world’s currently fractured banking systems. Unlike the electronic USD, the Tokenized, backed USD Coin is far more scalable and efficient for global use cases than what was previously achieved via traditional banking tramlines. 

USDC is available as Ethereum ERC-20, Algorand ASA, Solana SPL, and TRON TRC-20 tokens. Users can integrate the USDC token smart contract with any Ethereum, Algorand, Solana and TRON applications. There are currently 26.9 billion USDC stablecoins in circulation.

 

**Centre**

Centre was founded by both Circle and Coinbase and aims to facilitate an easier means of exchange value between people, businesses, and financial institutions. Centre believes that removing artificial economic borders will lead to a more inclusive global economy. Centre is a decentralized and independent entity. The consortium’s software implementation is managed by an organization created for the soul purpose of providing support, governance, and continuous research and development for the project.

 

**USDC Backing**

With the support of Centre and Coinbase, Circle holds the USDC reserve entirely in cash and short duration US treasuries. Contrary to common belief, USD stablecoins are only partially backed with cash. The remainder of the backing for USD stablecoins is the equivalent value of a 1:1 cash-backed ratio; however, that value is held in a combination of assets which can be exchanged for cash, rather than being held in USD cash itself. This USD cash backing, alongside the cash equivalent, investment grade assets of USDC – combined with Circle’s one hundred percent transparency – is the reason that USDC is the world’s best-performing stablecoin.

 

**Circle’s Goal: Becoming a National Digital Currency Bank**

In a recent Circle company update, Circle’s CEO Jeremy Allaire spoke on the company’s plans to become a national digital currency bank. Circle is working meticulously alongside financial branches of the US government, to ensure every regulatory box is checked throughout this difficult and lengthy process.

“Circle intends to become a full-reserve national commercial bank, operating under the supervision and risk management requirements of the Federal Reserve, U.S. Treasury, OCC, and the FDIC.” States Circle CEO, Jeremy Allaire. “We believe that full-reserve banking, built on digital currency technology, can lead to not just a radically more efficient, but also a safer, more resilient financial system.”

Allaire believes that his company’s goal is quite achievable. Saying as Circle has always exceeded the US bank-grade Basel III requirements, regarding high quality liquid assets and liquidity coverage ratios (HQLAs and LCRs). Within the next few years, it is likely that we will see Circle become the first National Digital Currency Bank.

 

## Killer Whale Crypto

This article describes the USDC token, as well as Circle's mission to become a national digital currency bank in the US.

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Circle and USDC: The Most Bullish Names in the Stablecoin Game

**600 Million Dollar Cryptocurrency Hack: What We Know So Far**


 


Yesterday, August 10th 2021, the Poly network was hacked for a whopping 600 million dollars. This news made the front page of every cryptocurrency reporting site, as this was undoubtedly the largest Defi hack in history – and quite possibly – the largest hack in crypto history. The story, however, does not end there. Today, the hacker(s) returned 260 million dollars’ worth of stolen assets; approximately half of what this digital thief – or possibly thieves – initially got away with. In this article, we will discuss the Poly heist; a piece of cryptocurrency history, which is unfolding right before our eyes. 


 


Poly Network is built to implement interoperability between multiple chains to build the next generation internet infrastructure. Essentially, Poly interconnects smart contract enabled blockchains, with a minimal amount of effort. In fact, connecting two blockchains using the Poly network only requires the implementation of two smart contracts. The Poly Network has already integrated Bitcoin, Ethereum, Neo, Ontology, Elrond, Ziliqa, Binance Smart Chain, Switcheo and Huobi ECO Chain.


 


As Poly is a network that allows users to send transactions across blockchains, its most vulnerable point is the bridge between different networks. This is the point where the Poly network was attacked, taking 600 million dollars – not from an exchange or entity – but from individuals within the crypto community. Poly released this statement on Twitter, shortly after the attack:


 


![polyhack.jpg](https://duj27fxoqhxbb.cloudfront.net/polyhack_356821821c.jpg)



 


Polly responded quickly to this attack by releasing another statement on Twitter, which provided an email address for the hacker(s) to respond to the Twitter message goes as follows:


 


![polymsgtohacker.jpg](https://duj27fxoqhxbb.cloudfront.net/polymsgtohacker_4a52217102.jpg)


 


Today, the hacker(s) returned 260 million dollars’ worth of assets to the Poly team. This may very well be due to the number of individuals who had been personally robbed by the hacker(s). A large number of the individuals who suffered from this hack, posted numerous comments on twitter and other social media outlets, urging the hacker to return the funds or – at the least – personally airdrop some of the stolen funds into private wallets. Many of the people who attempted to contact the hacker(s) are reliant on cryptocurrency for their day to day lives. 


Whether the hacker(s) will return the total amount of assets to their rightful owners or not, is still speculative. The fact that the hacker(s) returned any amount of the stolen assets – let alone nearly half of them – is a good sign for the large number of people, who lost bits and pieces of their livelihood to a hacker or a group of hackers that have chosen to play hardworking peoples lives, as if it were a game.



 



## Killer Whale Crypto

This article discusses the Poly network hack

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600 Million Dollar Cryptocurrency Hack: What We Know So Far

**New Infrastructure Bill Will Effect U.S. Crypto Taxation**

 

After several years’ worth of debates over potential improvement plans for the America’s infrastructure, followed by months’ worth of negotiations between the white house and law makers; the United States Senate has nearly completed its massive infrastructure bill. The one trillion-dollar bill covers a wide array of topics and is partially focused on cryptocurrency. Specifically, the taxation of cryptocurrency. The new infrastructure bill is expected to pass within the next few days; however, it would have already passed, has it not been delayed, due to disagreements between the two political parties.


The proposal is of a bipartisan nature, which is uncommon in the United States Senate. Although Both Republicans and Democrats agree on most of the topics covered in this bill; both parties disagree on how light or heavy handed the taxation and regulation of cryptocurrency needs to be. Even with this minor delay, the bill will likely pass without any changes being made. The goal of delaying the bill has little to do with altering the actual legislature. Lawmakers delayed the bill to further review the portions of the bill in greater detail before it is passed by the Senate.


the portion of the bill which deals with cryptocurrency would allow federal regulators the authority to impose new tax reporting obligations for cryptocurrency brokers. The previsions regarding cryptocurrency emerged as part of a solution for the issue of how to pay for the one trillion-dollar infrastructure bill. According to a nonpartisan estimate, cryptocurrency alone will provide 28 billion dollars’ worth of revenue, over the course of the next 10 years.


The portion of the bill which regards the regulation of cryptocurrency, has become one of the most difficult hurdles for lawmakers to overcome. Even causing lawmakers to hold incredibly rare weekend sessions, in an effort to swiftly navigate the bill into fruition. “What I think you’re seeing is the maturing of the industry — you see the crypto folks now understanding how Washington can influence their world and Washington learning a little bit about the technology,” stated former Chief of Staff, Mick Mulvaney. “One of the challenges that legislators face is they are still learning the language of crypto.”


The Trillion-dollar bill is the biggest investment into American infrastructure in decades. The bill will be used for the construction and repair of roads, bridges, waterways, and airports. Although we do not yet know when the Senate will be finished drafting the bill, it is likely that the bill will be passed no later than Tuesday, August 10th.


 

## Killer Whale Crypto

This article discusses the United States one-trillion dollar infrastructure

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New Infrastructure Bill Will Effect U.S. Crypto Taxation.

**Golden Tree Asset Management Adds Bitcoin to its Balance Sheet**

Golden Tree Asset Management – a 41-billion-dollar hedge fund – has just announced that it has added Bitcoin to its balance sheet. Golden Tree Asset Management has typically implemented more debit-based and conservative strategies. The hedge fund has decided to diversify their portfolio to include Bitcoin, because of the cryptocurrency’s amazing performance in the past, as well as it’s prospective future price action.


Golden Tree Asset Management is currently considering hiring a team which includes cryptocurrency operational experts, as well as cryptocurrency investment experts, to their already distinguished hedge fund. Although Golden Tree Asset Management is only purchasing Bitcoin at this time, it has been speculated that Golden tree may be interested in investing in other cryptocurrencies in the future.

Golden Tree Asset Management was founded in 2000 by Steven Tananbaum. Currently Golden Tree Asset Management has over 250 employees and is ranked in Bloomberg’s top-performing 100 hedge funds. Golden Tree is considered a global credit manager, which specializes in high yield bonds, leveraged loans, structured products, and emerging market debt. Golden Tree Asset management offers a wide variety of alternative and fixed income strategies.


Seeing Asset Management Companies such as Golden tree adopting cryptocurrency is a good indication that we will see more cryptocurrency adoption amongst Wall Street firms in the near future. As Bitcoin continues to gain momentum, we will see adoption of cryptocurrency in many fields. The gap between traditional markets and cryptocurrency continue to grow smaller every day!


 

## Killer Whale Crypto

This article describes Golden Tree Asset Management's recent addition of Bitcoin to its balance sheet

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Golden Tree Adds Bitcoin to its Balance Sheet

More BTC Adoption in Latin America is Right Around the Corner!

Since the inception of Bitcoin, it has been theorized by many economists that the adoption of cryptocurrency by one government would quickly lead to the adoption of cryptocurrency by other governments. Although El Salvador is currently the only country that has adopted Bitcoin as legal tender, it looks as if the domino effect has been set in motion. Paraguay, Panama and Mexico are all taking the first steps in following El Salvador’s example. In this article, we will take a look at the progress being made in the LATAM crypto space-race!


 


**Paraguay**

Paraguay has recently proposed a Bitcoin bill, which aims to create a legally defined “blockchain industry.” A decent amount of Bitcoin mining already takes place in Paraguay; however, members of the Paraguayan government would like to see more of it. The goal is to incentivize all kinds of cryptocurrency companies to move their operations to Paraguay. The bill will offer frictionless fiat and cryptocurrency banking services, on the foreign and domestic scales, at a low corporate tax rate of 10%. 

Miners will also have incentive to move their operations to Paraguay because of the incredibly cheap, and 100% green energy Paraguay has to offer. Paraguay has so much green energy, that they currently sell three quarters of it to neighboring countries “almost for free”. Incentivizing miners to operate in Paraguay is an efficient way for the country's government to get the most they can out of their energy abundance.

If the new cryptocurrency participation incentives in Paraguay go as well as the country is hoping, members of congress are planning on passing another bill, which would make Bitcoin legal tender. This would make Paraguay the second country in world history to legally adopt Bitcoin. It looks like this is going to be the case, as many companies in Paraguay are now accepting Bitcoin as payment. These companies include the largest media company in the country, as well as one of the country’s largest online universities.



 



**Panama**

Although the specific details of Panama’s cryptocurrency bill are somewhat more unknown, Panama’s bill is reportedly quite similar in nature to that of Paraguay’s. The bill incentivizes cryptocurrency business and miners to move to Panama for similar reasons, and – if passed – will include the adoption of Bitcoin as legal tender. The bill may have a chance to pass more quickly in Panama, because of the structure of the Panamanian government. Panama is already a known tax-haven, with some of the richest people in the country paying no income or capital gains taxes whatsoever. The bill however is coming from the opposition party, so there is a possibility that the bill could be vetoed by the current president, even if it passes through congress.


 


**Mexico**

Many lawmakers in Mexico are writing bills regarding cryptocurrency as well; however, it is unlikely that these bills will lead to an adoption of cryptocurrency as legal tender anytime soon. Because the cartels in Mexico regularly use cryptocurrency to launder money, the country will have some serious obstacles in its way before it can do much of anything in the way of full-scale adoption. The bills in Mexico are currently focused entirely on the proposed legal framework of cryptocurrency.

The private sector of Mexico, however, is seeing quite a bit of cryptocurrency adoption. Mexico’s third richest man – Ricardo Pliego – plans to start accepting Bitcoin at his bank, making it the first bank in Mexico to accept cryptocurrency. Although there are laws preventing banks from holding cryptocurrency in Mexico, Pliego is fighting for that to change. Currently Mexico does not consider cryptocurrency as an asset or currency, of any kind.



 


**In conclusion**

Latin America is leading the pack in cryptocurrency adoption because it offers an alternative to the USD. The United States’ excessive inflation of the USD is devastating to the economies of the Latin American countries which use the USD as legal tender. As the United States prints more money, the smaller countries in Latin America, which are dependent on the USD are being financially suppressed to a far greater degree than countries that have their own currency.

It is unlikely that cryptocurrency will be adopted by any of the first-world superpower nations anytime soon; however, the adoption of cryptocurrency in Latin America is definitely a step in the right direction.


 


If you like this article, check out [El Salvador Votes in Bitcoin as Legal Tender](https://www.killerwhalecrypto.com/article/el-salvador-votes-in-bitcoin-as-legal-tender)


 


## Killer Whale Crypto

In this article we will discuss the further adoption of cryptocurrency in Latin American countries 

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More BTC Adoption in Latin America is Right Around the Corner!

Crypto Investor Sues IRS Over Tax Enforcement Laws

Cryptocurrency investor, Joshua Jarret has officially filed a lawsuit against the Internal Revenue Service, under the grounds that taxing newly created cryptocurrency tokens as income is unlawful. Jarret claims that the IRS taxing tokens which have been freshly minted and still yet to be sold “is in direct contradiction of over 100 years of U.S. tax law.” As Jarret stated in a press release in May of this year, "Like any property, cryptocurrency tokens can be income when they're received as payment or compensation, but these newly created tokens are like crops harvested by a farmer—which are not taxed until they are sold." 


 

Jarret and his team of lawyers argue that newly minted coins are legally the same as a recently completed painting, or any other piece of artwork. Jarret also raises the point that the individuals who harvest tokens could move their operations to other countries outside of the United States, where different tax laws apply. In Jarret’s logic, the IRS would generate more tax dollars by not unfairly taxing U.S. citizens, as token harvesters would have greater incentive to keep their operations within the U.S.

 



Jarret participates in the “Baking” of Tezos (Tezos lingo for Staking), and therefore unlocks newly minted XTZ tokens for his participation. Tezos is a PoS cryptocurrency that utilizes the staking of tokens to secure the network, in a similar fashion to cryptocurrency mining. Jarret’s Tezos “Baking” grated him 8,876 new XTZ tokens. When the Jarret family filed their 2019 taxes, they reported $9,407 from the newly minted XTZ tokens as “Other Income” on their schedule C form. They paid $3,293 in taxes on the tokens. The Jarret Family filed a refund claim for the taxes, along with subsequent tax credits. According to Jarret, the IRS has still not responded to their claim.


 


“The United States here seeks to use the federal income tax law to do something unprecedented, which is tax creative activity rather than income,” Jarret alleges. “Taxing newly created cakes, books, or tokens as income would have far-reaching and detrimental effects on taxpayers and the U.S. economy.”

 


As cryptocurrency evolves, so must the policies on its taxation, in the same way taxation had to evolve regarding other markets as they grew from their infancy. It is uncertain if Jarret will win or loose the case, however there are plenty of attorneys who believe that he has a fighting chance at reclaiming the tax dollars he believes the government took unlawfully. It will be a progressive step for the relation between the U.S. government and cryptocurrency if Jerret wins the case. 

 

## Killer Whale Crypto

This article explains Joshua Jerret's lawsuit against the IRS, over newly minted cryptocurrency taxation

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Crypto Investor Sues IRS Over Tax Enforcement Laws

**Binance Exchange**

Binance is recognized as the largest exchange in the history of cryptocurrency. In this article, we will discuss how Binance became the highest volume cryptocurrency exchange in the world, and how the Binance exchange token (BNB) became the first ever exchange token to become a large-cap coin. We will also discuss a few of the current events surrounding the Binance exchange.

 

**A Brief History of Binance**

Binance was founded in China by Changpeng Zhao in 2017. However, due to the impending ban of cryptocurrency by the Chinese government; Binance was forced to relocate their servers and corporate head office to Japan in September of the same year. In January of 2018, Binance once more made the decision to migrate some of their corporate offices to Malta. Several months later, Binance signed a Memorandum of Understanding (MoU) with the Government of Bermuda: An agreement between two parties, which indicates a common line of action, that is used in instances where both parties cannot create a legally enforceable agreement. This is how Binance is allowed to operate some of their corporate offices in Malta.

By this time, Binance had become the world’s largest cryptocurrency exchange – with a market cap of 1.3 billion dollars – in just under 180 days from its initial inception.

In 2019, Binance launched Binance Jersey: An independent exchange, offering Fiat-to-cryptocurrency pairs, intended to expand the influence of Binance into the European countries.

Later that same year – on May 7th, 2019 – Binance officially announced that the company had fallen victim to a cocktail of cyber-attacks, which resulted in Binance loosing 7,000 bitcoins (at which point were valued at approximately 40 million dollars) to hackers. The exchange was forced to suspend all deposits and withdrawals for 12 days, until May 19th, 2019. Binance reimbursed its users by way of the company’s “Secure Asset Fund for Users.”

 Binance continues to hold its place as the highest valued cryptocurrency exchange in the world, despite heavy competition from other large exchanges.


 

**Binance Coin**

Binance Coin (BNB) was originally created on the Ethereum blockchain in 2017, as an ERC-20 token. ERC-20 is the technical standard for all smart-contract token implementation, built on the Ethereum blockchain. Out of 200 million BNB tokens Minted; 100 million BNB tokens were sold during the BNB ICO, at 15 cents per token. Another 80 million tokens were distributed to the founding team. The last 20 million tokens were distributed to BNB’s preliminary one-time investors; who supplied the initial capitol to kickstart the minting of the BNB tokens. These initial investors are known as “Angel Investors.”


Eventually BNB was adapted to serve as the native currency of Binance’s own blockchain; known as Binance Chain. Today BNB is the 4th highest ranked cryptocurrency in the world by market cap, as well as the first ever exchange token to become a large cap coin. BNB currently holds a 46-billion-dollar market cap.

 

**Current Events Surrounding Binance**

Although the cryptocurrency exchange remains the largest in the world, the company was banned from operating within the United States on regulatory grounds in 2019. Binance responded to this by creating the Binance.US exchange, with the help of other investors. Binance.US is registered with the United States Financial Crimes Enforcement Network. Although Binance.US has been specifically designed to operate within all applicable United States laws, Binance.US is currently still restricted in Connecticut, Hawaii, New York, Texas, Vermont, Idaho, and Louisiana. Although these restrictions currently remain in place, the Binance exchange is making concerted efforts to have these restrictions lifted by 2021.


In June of 2021, Binance was ordered by the United Kingdom’s Financial Conduct Authority (FCA) to cease and desist all regulated activity within the UK. The FCA began requiring official registration of all firms and exchanges relating to cryptocurrency, to comply with anti-money laundering regulations. As Binance does not currently comply with these regulations, the exchange is being forced to cease operations in the United Kingdom. Due to these circumstances, Binance was also forced to suspend all Pound Sterling withdrawals, within the United Kingdom, until further notice.


 


**In Conclusion**

Currently the regulatory waters are unclear. Binance – being the world’s most successful cryptocurrency exchange – will undoubtably experience more flack than the smaller exchanges. Hence the reason Binance is taking the brunt of the scrutiny. As an example, the release of Binance stock tokens represented a great innovation, that has been stifled by the newfound interest of legislative parties.


There will be many more hurdles for us to overcome. Hopefully this article emphasizes the importance of financial innovations. It takes a long time to see the fruits of our toils, however we are paving the way for our future generations!

 

### Killer Whale Crypto

This article highlights the history of Binance as well as the current events regrading Binance 

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Binance

Since its inception, Grayscale Trust has become the world’s largest and most notable digital currency asset manager, with 46 billion dollars worth of assets under management. Grayscale first appeared on the NASDAQ in 2013, and quickly gained recognition as the first digital asset manager to offer stocks backed by Bitcoin on the traditional stock market. Since then, Grayscale has added multiple other large cap cryptos to its portfolio, as its customer basis continues to grow. As of Friday, July 1st 2021, Grayscale added Cardano (ADA) as its third largest holding, to its digital large cap fund.

Cardano (ADA) has made a name for itself within the crypto community, not only because of its lucrative price action, but for the powerful technology behind it. Cardano (ADA) is a verifiably secure and scalable, proof of stake blockchain platform. It is designed to support a wide array of dapp and smart contract building. Cardano (ADA) also boasts the most ecologically friendly blockchain technology within the world of crypto. Cardano being available to investors via Grayscale Trust is a testament to its superior performance since its initial release date in 2015.

Cardano joining Grayscale is monumental for the cryptocurrency as well as its holders and traders alike. Not to mention for those who are looking at expanding their stock portfolios and retirement funds by diversifying into the power of new digital asset options. Grayscale bridging the gap between stocks and digital assets is great for cryptocurrency as a whole, as it exposes the relatively new market to larger market capitalization, which it may never have seen otherwise.

 

**Currently Grayscale Trusts largest holdings are diversified as follows:**

1. Bitcoin (BTC) – 67.47%
2. Ethereum (ETH) – 25.39%
3. Cardano (ADA) – 4.26%
4. Bitcoin Cash (BTH) – 1.03%
5. Litecoin (LTC) – 0.99%
6. Chainlink (LINK) – 0.86%


 

Grayscale Trust is clearly bullish on Cardano (ADA) as it became Grayscale’s third-largest holding at the moment it was listed. This is a comparatively interesting move on Grayscale’s part, considering Chainlink (LINK) was the last digital asset adopted as a replacement for XRP, to fill the gap after its delisting. Greyscale Trust plans its investments carefully. Sometimes even years before purchase. With Cardano having its new Alanzo upgrade to add smart contract capability just around the corner we are excited to see what grayscale and Cardano (ADA) are going to achieve in the future!

Killer Whale Crypto

Grayscale Trust lists Cardano (ADA) as its third-largest digital asset holding

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Cardano (ADA) on Grayscale!

On June 30th 2021 a subcommittee of The United States House of Financial Services Committee held a hearing regarding possible future cryptocurrency regulations within the U.S. The hearing was titled by Congress: *“America on FIRE: Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?”*

 Although the opinions regarding cryptocurrency vary between Congressperson to Congressperson, this title surely conveys an overall degree of Congressional bias on crypto matters. This was furthermore confirmed by the surface level subjects of discussion which took place during the hearing. Most of the focus was directed towards the trading of cryptocurrencies, with little being discussed on the inner workings of cryptocurrency itself.

 

**What are the Representatives saying?**

Representative Brad Sherman CA-30 – characteristically touted his negative opinions regarding crypto. The representative claims that playing the California lottery would make a better “bet” than investing in blockchain technology. I am sure we would all love to see the technical analysis which lead him to this conclusion. Rep. Sherman’s basis on cryptocurrency regulation is entirely based on his belief that crypto is mostly loved by tax evasionists.

Representative Tom Emmer, MN-6 – expressed a considerably different opinion regarding cryptocurrency, stating that he believes tech innovations in the DeFi space are the future of finance. The representative is in favor of crypto regulations, under the guise that the current lack of regulation is deterring American entrepreneurs from participating and that they are missing out on a good thing. He believes an increase of participation stemming from regulation, would prove to be beneficial to the American economy.


Representative Al Green TX-9 – simply stated that the growing participation of American entrepreneurs within the world of cryptocurrency reminds him of the conditions that lead to the financial crisis of 2008. In his own words he stated: “I do have some consternation, and my consternation emanates from 2008.”

Representative Warren Davidson OH-8 – believes in building pro-Bitcoin legislation. Rep. Davidson believes that the “cryptocurrency experiment” as he puts it, is not going away any time soon and that congress should embrace its potential benefits. Rep Davidson has even gone as far as to state that the understanding of cryptocurrency and blockchain technology within Congress is “pretty low.” The representative has also indicated in previous interviews that his colleagues are expressing interest in educating themselves about crypto.

 

**Expert testimonials within the hearing**

Peter Van Valkenburgh – the Director of Research at Coin Center – made an appearance at the hearing to discuss Bitcoin energy consumption. Peter emphasized the results of his research which conclude that the energy consumption of Bitcoin is approximately one fifth that of the traditional financial sector. Peter continued to explain how the energy usage of Bitcoin does not grow in scale per each transaction. A common misassumption which has caught the eye of the public in recent months, which has since been proven to be untrue.

 

**In conclusion,**
as cryptocurrency continues to gain traction amongst the investment and technology sectors, it will undoubtably encounter an increasing amount of government obstacles to overcome. Government regulation has always followed closely behind advancements within the world of trading and each nation’s internal politics regarding cryptocurrency will be no different. On the bright side, crypto may still be relatively young, however this Congressional hearing is proof that crypto is here to stay.

 

Killer Whale Crypto

American congress once again sets its sights on the regulation of cryptocurrency

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