If all U.S. companies followed Square, $250 billion would enter BitcoinBTC $11,563 (+1.5%) • ETH $386 (+3%) • XRP $0.25 (-0.1%)
This past week, U.S. fintech giant Square made mainstream media headlines when it deployed $50 million worth of its cash to purchase Bitcoin. This represented approximately one percent of the $90 billion company’s total assets, reported sites like Bloomberg. While a big move, there were some Bitcoin maximalists that criticized the one percent figure, mentioning that it was too small to make an impact in the increasingly-liquid crypto market. But as analysts later noted, if all companies followed Square’s lead, a massive wave of capital would enter the Bitcoin space, easily pushing it to all-time highs. 📈 Trending … DeFi Tokens • Oracle Tokens • Biggest Gainers • Stablecoins More news ⏬Why investors are optimistic after “painful” DeFi correction despite YFI plungeThe prices of decentralized finance (DeFi) darlings Yearn.finance (YFI) and Uniswap (UNI) plummeted in the past week. Kate Winslet to act in Hollywood flick showing $4 billion Ethereum scam OneCoinKate Winslet is scheduled to star in an upcoming Hollywood movie chronicling the rise and fall of OneCoin, a notorious Ethereum-based Ponzi scheme that raked in $4 billion from victims worldwide. Leading Ethereum dex Curve begins dabbling in layer-two solutionsEthereum transaction fees have dropped dramatically since the summer highs when gas cost upwards of 1,000 Gwei. Trust no one: Founders of once-$50 million Ethereum coin “rug pull” usersWhile the Ethereum decentralized finance space has cooled down dramatically since the euphoria seen in August and September, the space is still rife with scammers. The backdrop for institutions to adopt Bitcoin has never been betterBitcoin has long been a niche asset only adopted by those on the fringes of society. New Ethereum yield farm backed by Binance, top crypto VCs just launchedEthereum yield farming has declined dramatically over recent weeks as retail investors have seemingly sidelined their capital and as the price of leading DeFi coins has moved dramatically lower. “Don’t vacation yet”: Stablecoin supply suggests Bitcoin and altcoins could rally furtherIt’s clear that the bull trend that transpired in the summer is over: Bitcoin, Ethereum, and other top coins have entered a strong consolidation pattern over recent weeks. New Ripple service enables XRP payments on credit for SMBsBlockchain payments provider Ripple launched its “Line of Credit” service yesterday to cater to customers using On-Demand Liquidity (ODL) to source capital on-demand to initiate cross-border payments at scale using the digital asset XRP. DeFi yields crumble as Curve, Sushi, and other Ethereum coins craterIn August and September, the decentralized finance (DeFi) space was in a state of frenzy: random food farming strategies were yielding tens of thousands of percent APY while more reputable pools, paying out coins to thousands of users, was generating yields on orders of magnitude higher than bank accounts. Featured event
Virtual Blockchain Conference BlockDown is back for a third edition this Halloween (Oct. 22-23) with a host of the blockchain world’s biggest and brightest stars lined up to deliver ground-breaking keynotes and spark informed and fierce debate on the industry. Whilst the virtual conference space has been saturated in recent months, BlockDown Conference has consistently delivered the best content and is a must for any avid crypto enthusiast. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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