The Major Roundup On The Latest Crypto News In The World
The last month has been full of events and brought even more pressure on local business pretty much everywhere. Due to the current global situation and uneasy social norms, people have to rapidly adapt to the new standards. The crypto world can be deemed unstable if taken skin-deep. Now you’re welcome to check the relevant information on the most recent affairs in this digital industry.
Blockchain Capital is the new governing member at The Libra Association
Since its establishment in 2019, The Libra Association made a swift journey towards its legality and acceptance worldwide. Blockchain Capital is a prominent venture capital firm with full command in cryptocurrencies and the blockchain sector. In April, it has become the 27th member of the Association and, along with other international advisory firms, it’s on its way to help them develop their global equitable payment system. Moreover, The Libra Association will also have access to the Blockchain Capital’s vast network of financial experts and valuable figures of the crypto world.
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Crypto industry shifts its priority to Stablecoins development
Stablecoins have accelerated its growth in DeFi this year. Thus, more crypto players see it as a progressive industry perspective. The service providers recognize it to be valuable in multiple parts of the world. Moreover, it’s believed that stablecoins development is more important for such smaller financial entities rather than large corporations. The total market capitalization of stablecoins is currently around $20bn, which is double the size of its amount in May. Can stablecoins really become one of the most popular crypto coins nowadays and continue its substantial impact?
Paypal agreed to authorize crypto payments for merchants
With today’s global development and latest economical situation, it’s easy to say that more people start discovering cryptocurrencies and using them in their day-to-day life. Therefore, more merchants are interested in expanding into this market and accepting various payments and currencies. As a leading online payment exchange system, Paypal is about to introduce cryptocurrency into its platform and attract even more investors. Such online commerce will benefit all parties and minimize numerous payment and transaction fees. Furthermore, its partnership with Paxos will positively influence such a transition, as Paxos legally holds Bitcoin and Ethereum and issues regulated Stablecoins.
Digital dollar is planned to be introduced by the US Federal Reserve
To better control the economy and take an active part in its newest developments, the US Federal Reserve has initiated a multi-year plan of CBDC (Central Bank Digital Currency) implementation . They’re yet to assess all of its parts according to the overall use and immediate economic advantage. The digital dollar has to catch up with other newly introduced digital currencies like Libra by Facebook, along with China’s digital yuan. American CBDC is formed to bring more certainty for citizens in times of emergency and during more general payment transactions.
Social media may distort crypto perception and understanding
Following the 21st-century pace, social media takes a big part in affecting consumers’ behavior and judgment . Fake and provocative news are all around the net. Sometimes it’s hard to assess what’s true and what’s put out there to overthrow the already existing financial norms. Major social media platforms, such as Facebook, Twitter, Reddit, LinkedIn, and Youtube are full of fake profiles that spread misinformation and share dubious facts. There are whole groups of dedicated engineers who form bots that later will be trying to attract your attention and confuse you. It’s important to ensure your crypto safety and only trust the reliable, official sources.
Having a gist over the latest financial news is crucial in the modern world, whether you’re an already existing crypto investor or a newbie trying to comprehend the industry. Did you predict any of these happening? It may only be the beginning of something greater and more valuable for your capital and financial stability. Stay up to date with monthly crypto roundups!