December Newsletter
Market Commentary
Read our most popular insights and commentaries from this year!
The Evolving Correlation of Digital Assets - Read the Article
The Cure Becomes the Poison - Read the Article
Social Media: Helpful or Harmful in Finance - Read the Article
Metaverse Economics 101 - Read the Article
Why are So Many People Unbanked? - Read the Article
Digital Asset News
Decrypt: Ethereum Devs Plan to Enable Staked ETH Withdrawals by March 2023. Ethereum’s next update, Shanghai, is targeted for as early as next March and will enable staked ETH withdrawals. The September “Merge” upgrade transferred Ethereum to a proof-of-stake consensus method. Currently, users can deposit ETH with the network to generate additional ETH but the staked ETH cannot be withdrawn. With estimated $19bn in staked ETH, withdrawal feature is a priority in the next update.
The Block: New US Bill Would Require Crypto Miners to Report Greenhouse Gas Emissions. Lawmakers are prompting U.S. environmental agencies to assess the emissions of greenhouse gas from crypto mining and report to Congress. This bill would enable more complete understanding of the environmental impact crypto mining has at a large scale and may encourage the success of firms that mine in a way that is more environmentally efficient.
Reuters: Goldman Sachs on Hunt for Bargain Crypto Firms After FTX Fiasco. Goldman Sachs might have faith in crypto. In the wake of the FTX scandal, some traditional banks are looking at various crypto opportunities at more sensible valuations. We could see the benefits of financial regulation make a positive impact on the crypto space as firms operating within the confines of established rules make their move into crypto.
The Block: Decentraland Will Now Let You Become a Virtual Landlord. Decentraland is now allowing virtual land owners to rent out their properties in a system that uses MANA, the platform’s main cryptocurrency. One use case could be a virtual performer renting a popular virtual venue to host performances. An average parcel in Decentraland is over $2,000, one of the most valuable virtual land plots.
What We're Reading
CNN: What to Know about Lensa, the AI Portrait App All Over Social Media. An app called Lensa has gone viral this month for its AI generated avatars which create extremely detailed images of the user’s likeness. Lensa has sparked controversy as reports of inappropriate variances and unwanted filters were generated by the AI creating images people did not expect. Furthermore, Lensa uses Stable Diffusion, a deep learning model that scans a huge amount of digital art posted across the internet. This creates a potential issue as artists of the original works are unable to give their consent to participate in the AI program.
NPR: U.S. Reaches a Fusion Power Milestone. Will It Be Enough to Save the Planet? A historical milestone has been reached in nuclear fusion. For the first time ever, researchers with the U.S. Department of Energy at the National Ignition Facility gained 150% in total energy from a nuclear fusion reaction. Prior to this, it would take more energy to start the reaction than the reaction would produce. However, it will require time, funding, and additional engineering breakthroughs to scale the science to a level of sustained production and economic feasibility.
NewScientist: Experimental CRISPR Technique Has Promise against Aggressive Leukemia. A 13-year old girl is cancer free thanks to the latest development in CRISPR technology called base editing. After traditional methods were unable to treat her leukemia, scientists were able to modify current methods of gene editing to fundamentally change her DNA. While these results are still new, they are extremely promising, with three other base editing trials underway.
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