POKKET: Crypto Market Update (Aug 3)
Bitcoin price is softer -2.4% to $39.3k, ETH is humming along +1% to $2625. Movers are BQX +19%, NKN +10%, rest are zzz.
All eyes on the US Infrastructure bill as the crypto clause gets updated, but its ‘not good enough’ according to insiders. Many politicians who are advocates of not only crypto, but for technological innovation, are voicing their concerns and constituents are getting active. The final bill’s language around crypto reads now: “any person who is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person” – this is an improvement over the previous version last Friday, but is still super vague and gives the IRS optionality on who to go after.
Miami is set to launch its own cryptocurrency and reward users in Bitcoin.
In a weird headline, ex-Monero dev ‘Fluffypony’ has been in jail for two weeks over theft at a cookie company.
NFTs are back, with proof coming from OpenSea which has done $100M in volumes over the past 2 days; they did $21M in all of 2020.
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