Eddie Jay on Crypto – US lawmakers gone wild, Cardano has KYC, Polygon's got moves & a lot more!
• Binance was able to help recover about $5.8M of the funds stolen during the Axie Infinity heist
• Polygon has introduced Polygon Edge, an extensible framework built specifically for building private or public blockchain networks compatible with Ethereum
• Cardano integrates on-chain KYC in collaboration with Blockpass
• Bahamians will be able to pay taxes with digital assets
• Stripe is using Polygon’s Layer 2 as it launches a pilot program allowing Twitter users to make payments via digital assets
• Coinbase’s CEO is openly bashing Apple for not supporting crypto apps
• Animoca is not playing games when it comes to gaming, will continue snatching up studios
• The SEC and Ripple have agreed to extend the case well into 2023
• Reps Norma Torres of California and Rick Crawford of Arkansas care more about crypto in El Salvador than in the US
• Tennessee is looking for vendors to help them manage future unclaimed digital assets
So much has gone on over the past few days, including extended sale prices for certain digital assets. Here is what is on my mind today.
1. So, Binance was able to help recover about $5.8M of the funds stolen during the Axie Infinity heist. Some of the spoils were spread over as many as 86 wallets and some hit Binance. To their credit, they moved quickly to work with the community to recover the funds and this is not the first time.
2. Polygon has introduced Polygon Edge, an extensible framework built specifically for building private or public blockchain networks compatible with Ethereum. Not much impact on the value of MATIC thus far, but with 35 projects already building on the platform I suspect it will be a matter of time before this new technology gathers even more steam.
3. The commercial arm of Cardano, EMURGO, just integrated on-chain KYC (know your customer) looking forward to compliance with regulations. This well positions projects to tap into the KYC service as needed.
4. All the more reason for Bahamians to be happy. They will be able to pay taxes in crypto. This is on the heels of releasing their CBDC. Remember, this is where FTX’s headquarters is. This forward-thinking move is no surprise. Prime Minister Philip Davis stated, “We have a vision to transform the Bahamas into the leading digital asset hub in the Caribbean.”
5. Stripe is rolling out a pilot program to allow Twitter users to make payments via digital assets. It’s powered by Polygon’s Layer 2 scaling solution, MATIC, in support of stablecoin USDC. Stripe says they plan to support more digital assets in the future.
6. Coinbase’s CEO is openly bashing Apple for not supporting crypto apps. He took it a step further by saying they could be looking at “potential antitrust issues”. No surprise someone would be saying this about heavy-handed Apple. Remember their Epic Games debacle?
7. Animoca is not playing games when it comes to gaming. Their CEO is on the record saying they are not done with acquiring studios to make NFT games.
8. Bad news for us Ripple lovers. The SEC and Ripple have agreed to extend the case well into 2023. A mutual letter was sent to the judge and she has approved.
9. A bipartisan bill introduced by Reps Norma Torres of California and Rick Crawford of Arkansas aims to protect the US from El Salvador’s decision to adopt Bitcoin by analyzing how the adoption could affect cyber security, democratic governance and the economic stability of El Salvador. I think the 2 Representatives should mind the US and work on helping so we are not left behind by other countries quickly moving toward adoption!
10. Tennessee’s looking for vendors to help manage future unclaimed digital assets. They demonstrate they are looking toward the future even though the state doesn’t hold any digital assets at the moment.
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🚨 Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Eddie Jay on Crypto. Eddie Jay on Crypto may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.