Mastercard and Paxos help banks offer crypto, Jack Dorsey details new social platform and Tesla hodls BTC: Hodler’s Digest, Oct. 16-22

1 year ago

Coming each Saturday, Hodler’s Digest volition assistance you way each azygous important quality communicative that happened this week. The champion (and worst) quotes, adoption and regularisation highlights, starring coins, predictions and overmuch much — a week connected Cointelegraph successful 1 link.

Top Stories This Week

Mastercard taps Paxos to motorboat crypto trading for banks

Banks volition soon beryllium equipped to connection clients crypto trading and custody acknowledgment to a caller programme called “Crypto Source” from Mastercard and Paxos Trust Company. As portion of the program, Mastercard volition screen immoderate of the compliance, information and interface details portion Paxos handles crypto custody and trading. Expected successful the last 4th of 2022, the Crypto Source programme volition fundamentally supply the underpinning that volition fto banks connection crypto trading and custody to their clients.

Jack Dorsey unveils decentralized societal with algo prime and portable accounts

Under the supervision of erstwhile Twitter CEO Jack Dorsey, a caller societal media level called “Bluesky Social” has entered its backstage beta signifier aft years of anticipation. Underpinning the level is simply a protocol known arsenic the Authenticated Transfer Protocol (formerly named ADX). The protocol fundamentally removes the walls astir idiosyncratic data, letting users determination their accounts from level to level alternatively than having their profiles and accusation locked connected a azygous platform.

Hodl! Tesla hangs onto each its remaining $218M successful Bitcoin successful Q3

After offloading 75% of its Bitcoin holdings successful Q2, Tesla decided to clasp its remaining BTC successful Q3, according to the company’s latest net report. The Q3 net study elaborate Tesla’s equilibrium expanse carrying $218 cardinal successful integer assets. In February 2021, Tesla notably unveiled holding $1.5 cardinal worthy of Bitcoin, but sold astir of its holdings the pursuing twelvemonth owed to China-related COVID-19 concerns.

Not similar China: Hong Kong reportedly wants to legalize crypto trading

Although a peculiar administrative portion of China, Hong Kong is reportedly looking to easiness its crypto regulations to favour the industry. China has taken regulatory steps to discourage crypto manufacture enactment successful the past. Crypto trading successful Hong Kong itself is mostly constricted to nonrecreational investors, acknowledgment to Hong Kong’s Securities and Futures Commission (SFC). However, the SFC is present taking steps to let retail crypto trading, arsenic good arsenic different crypto-friendly pursuits.

‘Performing arsenic expected’ — Aptos Labs defends time 1 criticism

Aptos, a blockchain constructed utilizing programming connection that was erstwhile intended for Meta’s Diem project, launched its mainnet connected Oct. 17. The well-funded blockchain created by Aptos Labs claims a processing capableness of 160,000 transactions per 2nd (TPS). However, conscionable 4 TPS was observed astatine the clip of Cointelegraph reporting connected Oct. 18. The archetypal debased numbers were expected, according to Aptos connected Twitter. Oct. 20 reporting revealed numbers for the blockchain had risen to 16 TPS.

Winners and Losers

At the extremity of the week, Bitcoin (BTC) is astatine $19,115, Ether (ETH) astatine $1,299 and XRP astatine $0.44. The full marketplace headdress is astatine $916.20 billion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the apical 3 altcoin gainers of the week are Casper (CSPR) astatine 32.19%, Lido DAO (LDO) astatine 16.23% and Maker (MKR) astatine 16.07%.

The apical 3 altcoin losers of the week are TerraClassicUSD (USTC) astatine -24.65%, Axie Infinity (AXS) astatine -16.18% and EthereumPoW (ETHW) astatine -15.52%.

For much info connected crypto prices, marque definite to work Cointelegraph’s marketplace analysis.

Most Memorable Quotations

“Well, I mean, determination are a fewer reasons [for having Bitcoin successful space]. One, due to the fact that it’s cool, and you can.

Adam Back, co-founder and CEO of Blockstream

“Now is the clip to archer your friends and explicate the benefits astir crypto, due to the fact that erstwhile they’re FOMOing astatine $70,000 [per Bitcoin] you should beryllium telling them not to participate the market.

Marcel Pechman, markets expert and Cointelegraph contributor

“Right now, hacking is surely the biggest contented that we’re reasoning astir that’s happening successful the manufacture that’s a existent menace to security.

Kim Grauer, manager of probe astatine Chainalysis

“We judge everything [in museums] volition beryllium an NFT, conscionable similar a serial number, for each merchandise determination volition beryllium an NFT.”

Hussein Hallak, CEO and laminitis of Next Decentrum Technologies

“PoW was a dormant extremity for Ethereum.

Tansel Kaya, CEO of Mindstone Blockchain Labs

“Price manipulation is simply a relative of misrepresentation, and successful galore jurisdictions, engaging successful misleading and deceptive behaviour is unlawful and grounds for ineligible claims.

Michael Bacina, spouse astatine Piper Alderman

Prediction of the Week

Bitcoin terms ‘easily’ owed to deed $2M successful six years — Larry Lepard

Bitcoin’s terms traded comparatively sideways for astir of this week yet again, according to Cointelegraph’s BTC terms index.

Equity Management Associates laminitis Larry Lepard sees Bitcoin reaching $2 cardinal per coin implicit the adjacent 5 oregon six years, helium said connected a Quoth the Raven podcast occurrence published connected Oct. 16. “Bitcoin could spell to zero, but I personally judge Bitcoin’s going to spell up 100x,” according to Lepard. He also, however, noted the anticipation of Bitcoin dropping to $14,000 earlier then.

FUD of the Week

Report: Half of each DeFi exploits are cross-bridge hacks

Cross-chain bridges are the weakest information constituent successful decentralized concern (DeFi), according to a Token Terminal report. The crypto information supplier elaborate that cross-chain span exploits, mostly connected Ethereum Virtual Machine blockchains, person accounted for astir $2.5 cardinal successful mislaid funds implicit the past 2 years. Cross-chain span exploits correspond astir fractional of each DeFi hacks during that period.

77.1% of Salvadorans surveyed deliberation the gov’t should ‘stop spending nationalist money’ connected Bitcoin

Most Salvadorans are not pleased with their government’s Bitcoin spending, according to residents polled arsenic portion of a survey from El Salvador’s José Simeón Cañas Central American University. The state made Bitcoin ineligible tender successful September 2021, though conscionable 24.4% of Salvadorans polled person utilized Bitcoin for payments since then, arsenic of polling successful September 2022. Additionally, little than 40% of those polled favored El Salvador’s determination to marque Bitcoin ineligible tender.

4,400 disgruntled investors are hunting for Terra’s Do Kwon

Formerly organized to initiate lawsuits from Terra investors, the UST Restitution Group (URG) has present shifted absorption to searching for Terra caput Do Kwon. The URG Discord radical has 4,400 participants who are discussing and searching for Kwon arsenic a effect of the Terra project’s illness earlier successful 2022. Authorities person taken assorted measures to find the Terraform Labs co-founder. Kwon said information precautions drove him to permission Singapore, according to an interrogation published this week by writer Laura Shin.