EXCITING THINGS FOR CRYPTO OWL’S NEWSLETTER!
CBDC alternative to be next summer. Vitalik became a writer. Crypto.com’s epic failure. Advice from JPMorgan and more.
Coo to all of you! It’s me, Crypto Owl, and I’m coming back with fresh news. What happened today? Let’s see!
On Today’s Menu:
🥣 VEGETABLE SOUP: Exciting Stuff!!!
🫓QUICHE: CBDC Alternative To Launching Next Summer
🥯️BAGEL WITH HAM AND HOMEMADE MAYO: Vitalik Wrote A Book!
🍗 GRILLED CHICKEN WITH SALAD: Crypto.com Failure
🍠 BAKED SWEET POTATO: Wednesday’s Facts (whale wallet and JPMorgan)
🍓 FRUIT SALAD: More Crypto News Around The Web
EXCITING STUFF!!!
As I mentioned yesterday, this newsletter is about to level up. And this time, I’m asking for your help!
At this step, we’re changing the newsletter’s name (because we’re also changing our Youtube Channel name), so your opinion is critical here! I’ll be very grateful if you would vote for your favorite option. Thank you for your time and care 🤗 💕
FED TO LAUNCH CBDC ALTERNATIVE IN SUMMER’23
“FedNow” - this is the name of a new instant payment service that is going to be a real thing in the summer (as it is said now, it should happen between May and July 2023) next year.
This new payment system should allow transferring payments in seconds. Could this mean that FED tries to say politely that Central Bank’s CBDC is not that necessary?
What else do we know about FedNow System?
FedNow pilot program is currently tested in more than 120 organizations, including U.S. Bank, several payment processors, etc.;
Federal Reserve Vice Chair Lael Brainard said that she called for various financial institutions, software companies, and so on to adopt FedNow to adopt the system smoothly;
FedNow should provide lots of advantages for users: it will help financial institutions “broaden the reach of instant payments and communities nationwide”; institutions may “be able to provide businesses and consumers with the ability to send and receive instant payments efficiently and securely”;
Users will have a “greater flexibility to manage their money and make time-sensitive payments”;
This system is built with cloud technology, so all payment systems should scale without losing resiliency.
Everything sounds pretty good and very convenient for both financial institutions and consumers.
Brainard said, “The FedNow Service will transform the way everyday payments are made throughout the economy, bringing substantial gains to households and businesses through the ability to send instant payments at any time on any day, and the funds being immediately available to recipients to make other payments or manage cash flow efficiently”.
Well, if there are any updates, I’ll let you know.
VITALIK WROTE A BOOK!
There are some books about Vitalik, and in some of them, we can find his forewords; but now, he has written his book, Proof of Stake (which took him to do around 10 years!), and the Ethereum founder’s fans are excited!
So as you can see, this book will be available this Fall (September 27th), so - soon. But right now, there is a possibility to order a physical copy, or a signed digital copy after making a pledge. As it is said on the website, “fund will go 90% to the Gitcoin Grants matching pool and 10% to publishing partner”.
So, this book is made out of Buterin’s essays that he wrote before and during the “rise of Ethereum”; there, we will find details on how Vitalik was working “through the problems and possibilities of crafting an Internet-native world” as well as some insights from his studying times.
I guess it’s a great time to release this book, as everyone is already waiting for the Merge. Good for Vitalik.
CRYPTO.COM FAILURE AT ITS BEST
Personally, it made me smile. You’ll see why.
So, the story is that Crypto.com, a well-known crypto platform based in Singapore, accidentally sent $10.5 million to a woman. I mean, it’s better than a lottery.
After she suddenly got really rich, this woman decided to spend this money with her sister; the woman also bought a luxurious 5-bedroom house as a gift.
Now she and her sister are being chased by the courts as Crypto.com sued her; originally, this woman asked for a $100 refund from the platform (back in May 2021), and instead of that got this tremendous amount of money. This mistake was noticed during an audit after seven months;
According to this legal action, Victoria’s Supreme Court ordered to sell the house and return the money to Crypto.com.
But… at the end of the day, who can blame this woman? You get big money, and you use them silently. And, of course, share it with your sister.
P.S. this is an irony.
WEDNESDAY’S FACTS
It has been almost a year since a mysterious whale wallet has held 50% of Axie Infinity, one of the most popular play-to-earn games, SLP (smooth love potion token) supply (around 22 billion tokens). The community is confused and quite on edge because it is unclear who is behind this wallet and what intentions this whale has. It is believed that this whale wallet does not belong to anyone from Axie Infinity or Sky Mavis (the company behind the Axie Infinity) because “all tokens in existence have been created by players”, says Sky Mavis COO Aleksander Larson. The situation is quite dangerous because the game’s economy belongs to a significant part of the whale wallet.
We all know that the FED is now really hawkish with its decisions - thanks to the inflation. To help investors make the right decisions on their investments, JPMorgan Asset Management’s chief global strategist David Kelly gave some bits of advice. One of them is to sell crypto and stay away from Bitcoin; there was also advised to invest in value stocks and focus on valuations. There you go.
MORE CRYPTO NEWS AROUND THE WEB
Indonesia's Largest Tech Firm GoTo Acquires Local Crypto Exchange
OptiFi’s Developer Error Leads to $661K Locked In The Platform
Ethereum miner balance reaches four-year high weeks before the Merge
Singapore court rules in favor of Bithumb founder in acquisition case
Busan City announces FTX partnership to build a local exchange
ORANGE JUICE WITH PULP
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Disclaimer: This newsletter is strictly educational. None of this information is intended to be financial advice. Always do your research and act responsibly with your profits.