As summer winds down, the digital asset market is heating up once again. From new cryptocurrencies that will help protect our data from quantum computers, to new ways to earn while playing games – the last couple of weeks have witnessed a resurgence among digital assets and their utility. This article is an update of all you need to know from the last two weeks in the digital asset market.
The U.S. Senate voted and passed the hastily drafted infrastructure bill on August 10th, 2021, which will provide over $550 billion in additional funds for the nation’s infrastructure. 11 Amendments were approved and it is estimated that roughly 20% of Americans will be affected by taxing crypto to help fund the bill. We will monitor further development as the bill makes its way through the U.S. House of Representatives.
Stablecoins continued to be a focus. The U.S. Central Bank is continuing its efforts to create a central bank digital currency (CBDC). Circle, the principal operator of USD Coin (USDC), is seeking to become a federal bank. Currently, Circle runs USDC under state banking regulations.
The London Hard Fork went Live and ETH is now officially a deflationary asset as Ethereum transaction fees that were previously shared with miners are now burned.
Sarson Funds launched the Cryptocurrency ESG Strategy, a cryptocurrency investment strategy designed for financial advisors and accredited investors to offer exposure to environmental, social and governance-focused cryptocurrencies.
DraftKings partnered up with Autograph.io, Tom Brady’s new NFT platform, and began selling Sports-focused NFTs, starting with Tom Brady, which sold out fast and are reselling for significant markups.
Both Amazon and Walmart are hiring crypto-experts. Walmart, while furthering efforts with digital currency integration, is trying to identify the needs of its shoppers and create innovative crypto products to supply to that demand. Microsoft is exploring blockchain technology for fighting software piracy via the Ethereum network. Ethereum 2.0 hit a new milestone by reaching a volume of staking topping over $21 billion.
The Dogecoin Foundation has been renewed with Elon Musk’s representative Jared Birchall and Ethereum Founder Vitalik Buterin joining the board of advisors. The Foundation has picked Liechtenstein as the potential location for their HQ.
Crown Sterling’s Crown Sovereign token (CSOV), a quantum-resistant digital asset, will be listed on Bitcoin.com Exchange in late September.
Wells Fargo Bank has filed paperwork with the S.E.C. for a Bitcoin fund in a limited partnership with NYDIG and FS Investments. Institutional investors continue herding into the crypto space.
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