So far this week has not disappointed. The markets took a tumble, the New York Attorney General settled with Bitfinex/Tether, the Fed is looking into a Digital Dollar, and banks are researching other banks on holding their clients crypto. Things are getting interesting, but is their ever a dull moment in crypto? Pertaining to the NYAG v. Bitfinex, is it a case of Tether being too big to fail or the NYAG not having the proper resources to fully prosecute the matter? Something tells me a little of both, but let me know your opinions in the comments section as there are so many people who either love Tether or hate it. Fed Chair Jerome Powell reiterated today that the central bank is examining a digital dollar, which looks like it could be signaling the end of an era for crypto. Bank of America research published Tuesday shows banks like JPMorgan and Citi use blockchain technology. Other smaller banks said they are open to allowing clients to hold cryptocurrencies in the future. The research sheds on light on where traditional financial institutions stand on blockchain amid bitcoin's massive rally. Hester Peirce, the commissioner for the U.S. Securities and Exchange Commission known by the nickname "Crypto Mom," welcomes the challenge of regulating decentralized finance. In a speech for a George Washington University Law School event on the digital economy, Peirce said decentralized finance, or DeFi, could be the alternative legacy financial system many are seeking given the surge in anti-Wall Street sentiment surrounding the short squeeze of GameStop stocks. All of these stories and more can be found in the link below:
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