A huge south Korean company is starting a crypto exchange. Vitalik weighs in on crypto payments and an altcoin comes from nowhere to become the #2 earner. My name is Ben and this is your nightly crypto news wrap-up. Let’s get it.
Vitalik Buterin tweeted yesterday that “People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they’re so much more convenient. – (A) Big boost to international business and charity, and sometimes even payments within countries.” This happened around the same time Buterin was being interviewed at Korea Blockchain Week 2022 where he was touting the new level of crypto payments via Eth 2.0. He went on to mention that transaction fees in for crypto payments in lower-income countries is essential for the growth of crypto. Earlier in the year Sam Bankman Fried expressed a similar opinion that crypto payment projects have huge untapped potential.
There is always opportunities in the market, whether it’s bullish or bearish. Let’s check in with our in-house “chartist” Frankie Candles for a market update.
Thanks Frank. If you want to trade like the pros, be sure the click the Phemex link in the description to get an exclusive sign-up bonus for the Bitsquad.
Ankr protocol shocked traders yesterday after it pumped 80% off the news that it was partnering with Binance Labs. Speculators moved in to make a quick buck but the coin quickly corrected. The price action was a blip on the radar but the partnership with Binance is very good news for the project and shows a renewed interest in Defi from the biggest player in crypto. Ankr was started in 2017 with the goal to harness the power of blockchain in cloud computing. So far it’s stuck around for two bear markets and has shown consistent growth which is more than can be said about the Atlanta Falcons.
Electronics Behemoth Samsung is gearing up to enter crypto next year and bring its own exchange to the market. It’s going to be bringing the full weight of South Korean blockchain development talent to the space as well as a keen understanding of the strict securities laws in South Korea. They are looking for a slice of the pie that FTX, Binance and Coinbase have been eating up over the past few years. But an entity like Samsung entering crypto brings a lot of hope to the industry as South Korea is a country that boasts some of the highest levels of crypto adoption. Samsung is already one of the biggest investors in blockchain and just a few weeks ago announced a partnership with Theta to bring NFTs to their Galaxy phones. Looks like crypto is going to be getting some Gangam style in 2023.
That’s all I got. Be Blessed. Bitboy Out.