Web3 news: Stay Up-to-Date 💜
Welcome to our bi-weekly newsletter dedicated to exploring the world of Web3 and the decentralized web. Our objective is to keep you informed about the most recent developments, perspectives, and evaluations in regards to the rapidly advancing Web3 technologies and their influence on the internet’s future.
As the world becomes increasingly digital, there is a growing need for more secure, transparent, and decentralized systems that empower users and promote greater privacy and autonomy. We will cover a range of topics related to Web3
FedNow: The Raise Of FED-controlled Crypto?
US Federal Reserve to launch FedNow, an instant payment service in July 2023, giving the government more control over the payment system. Seen as a move towards a government-controlled blockchain and payment system to reduce the influence of decentralized cryptocurrencies. Significant development in the battle between centralized and decentralized payment systems.
ETH Shanghai Upgrade: April 12
Ethereum, the world’s second-largest cryptocurrency, is getting a major upgrade with the upcoming Shanghai hard fork on April 12th, 2023. This will introduce improvements to the gas fee structure, Ethereum Virtual Machine, and transaction format, making the network faster, more efficient, and more secure. The new fee structure will make it easier and more cost-effective for developers and users to interact with smart contracts on the network. With these changes, Ethereum is expected to become an even more important player in the world of decentralized finance and blockchain technology.
UBS and Credit Suisse Merger: A Solution or a Bailout?
UBS to buy Credit Suisse in a historic corporate solution aimed at containing a crisis of confidence that had started to spread across global financial markets. The deal includes government guarantees and liquidity provisions, with the Swiss National Bank offering 100 billion franc liquidity assistance to UBS and the government granting a nine billion franc guarantee for potential losses. The purpose of the solution is financial stability, but many are questioning whether it is truly a solution or merely a bailout. The success of the deal and measures taken to ensure financial stability could potentially attract more investment in various financial sectors, including crypto.
Bitcoin Hits $28K, Central Banks Coordinate to Boost $ Liquidity.
Bitcoin surged past $28,000 over the weekend, buoyed by coordinated efforts from major central banks to boost dollar liquidity in response to the global economic slowdown caused by the COVID-19 pandemic. Central banks are offering dollar swap lines to foreign banks to improve liquidity and prevent market turmoil. As investors seek alternative investments amid concerns over traditional fiat currencies, analysts predict a major bull run for Bitcoin, with some experts suggesting it could hit $100,000 by year-end. However, caution is advised, as the crypto market remains highly volatile and unpredictable, and underlying structural issues facing the global economy may persist.
Former Coinbase CTO Bets $2M on Bitcoin Reaching $1M in 90 Days!
Former Coinbase CTO Balaji Srinivasan predicts that a looming global banking crisis could push Bitcoin to hit $1 million in just three months. He has bet $2 million on the cryptocurrency’s value in the event of a US banking crisis leading to hyperinflation. While some experts agree that Bitcoin could rise during economic turmoil due to its decentralized nature and limited supply, others remain cautious of its volatility. Nonetheless, Srinivasan’s bet reflects the growing confidence of some crypto enthusiasts in Bitcoin’s potential as a valuable store of wealth and a hedge against inflation.
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