Circle CEO fires shots at US, Binance backtracks, Mastercard unveils blockchain standards, and JP Morgan wants to tokenize traditional finance
With Bitcoin on its hottest streak in two years, liquidity returns to crypto markets as traditional markets continue to falter. Meanwhile, crypto companies look East due to oppressive regulations, and teams may continue to dominate innovation in the region, where governments are embracing new technologies.
In other news, Mastercard has announced a new set of blockchain standards designed to help validate the authenticity of data being exchanged between different parties over blockchain networks. JP Morgan announced that it remains committed to its plans to tokenize traditional finance despite the challenges and regulatory hurdles that it may face.?
Meanwhile, Circle CEO Jeremy Allaire has blamed the United States government for creating uncertainty in the market for stablecoins, which has led to a decline in the use of these digital currencies. Finally, Crypto powerhouse, Binance abandoned its proposed $1 billion deal to acquire Voyager's cryptocurrency trading platform after announcing the deal in March 2023.
The Fuse Network has announced the results of its forum voting on the FRC proposal, which aims to introduce Power Validators (PVs) to the network. PVs will receive the block and alternative rewards and NFTs representing their service. The voting results show that most voters favored the proposal, except for the option for PVs to trade their NFTs.
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?? Mastercard Leads the Way in Blockchain Trust with New Authenticity Standards
Mastercard has announced unveiling a new set of blockchain standards designed to help validate the authenticity of data being exchanged between different parties over blockchain networks. These new standards aim to address the issue of trust in blockchain networks by ensuring that all participants in the network are verified and that the data being exchanged is authentic. This move allows Mastercard to expand its footprint in the blockchain industry and help drive blockchain technology adoption in various sectors such as finance, supply chain, and healthcare.
? Binance's Expansion Plans Hit Roadblock as $1 Billion Voyager Deal Falls Through
Binance has abandoned its proposed $1 billion deal to acquire the cryptocurrency trading platform, Voyager after initially announcing the deal in March 2023. Binance did not provide any specific reasons for the reversal, but sources say the decision was likely due to regulatory concerns and increased scrutiny from regulators worldwide. Binance has faced several regulatory challenges recently, including a UK ban and warnings from regulators in Japan, Canada, and the US. Canceling the Voyager deal is a setback for Binance's expansion plans as the company continues facing regulatory challenges in various markets.
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?? Circle CEO Calls on US Government for Clarity on Stablecoin Regulation
Circle CEO Jeremy Allaire has blamed the United States government for creating uncertainty in the market for stablecoins, which has led to a decline in the use of these digital currencies. He believes that the government's lack of clarity on the regulatory framework for stablecoins has created a sense of financial risk that has deterred investors and users. Allaire stated that this lack of clarity had disadvantaged the US compared to other countries that have provided more clarity on the regulatory status of stablecoins. He urged the US government to provide clear guidelines on the regulatory status of stablecoins to enable innovation in the sector and to avoid ceding leadership to other countries.
?? JP Morgan Aiming for Industry Transformation with Blockchain
JP Morgan has announced that it remains committed to its plans to tokenize traditional finance despite the challenges and regulatory hurdles that it may face. The bank believes that adopting blockchain technology and tokenizing assets can benefit the financial industry significantly, such as improved liquidity, increased efficiency, and reduced costs. JP Morgan is already involved in various blockchain initiatives, including its own JPM Coin. It plans to continue exploring blockchain technology in other areas, such as trade finance and payments. The bank believes that blockchain technology can help transform the financial industry and is determined to lead in this transformation.
?? Visa Sets Sights on Stablecoin Payments with Ambitious Crypto Roadmap
Visa has unveiled an ambitious roadmap for its foray into cryptocurrency, including plans for stablecoin payments. The company sees stablecoins, digital currencies backed by fiat currencies or commodities, as a way to enable fast and secure payments using blockchain technology. Visa is also exploring the potential of central bank digital currencies (CBDCs) and is working with various partners to develop new solutions for the cryptocurrency market. The company's move into the cryptocurrency space is seen as a significant development for the industry, as it brings more credibility and mainstream acceptance to the concept of digital currencies.
?? Godfather of AI Resigns from Google, Raises Concerns over Dangers and Ethics of AI
The co-founder of Google's DeepMind, Demis Hassabis, known as the "Godfather of AI," has resigned from Google amid concerns over the dangers of artificial intelligence (AI). Hassabis has long advocated for AI research but has also expressed concerns over the technology's potential risks and ethical implications. In his resignation letter, Hassabis emphasized the importance of developing AI responsibly and ethically, stating that "it is vital that AI is developed and used in a way that benefits humanity as a whole, and not just a select few." His departure from Google is seen as a blow to the company's AI efforts and a signal of the increasing scrutiny of the technology.
TECH BEARDOS Podcast | Episode.2 | Crypto Will Replace Visa by 2030!?
Tech Beardos is a new monthly podcast on blockchain and DeFi hosted by Ian from Fuse and Luka from Voltage. In this second episode, Ian and Luka dive headfirst into crypto and Web3 payments for merchants and businesses and explain how they can adopt crypto payments today.
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