Daily Crypto NewsEDITION #EP 13, 31 August 2020

FRS versus CRISIS

Hey #Moni Maker 😁

The past week has brought a lot of optimistic news! The Fed looks set to keep running its printing press, the IMF is promoting crypto, and Blockfolio now has additional resources to work on an app to make purchasing cryptocurrencies even more convenient. In general, the conditions for the next bull run are becoming more favorable week by week.

Let's take a closer look at what happened in the crypto universe!

Chairman of the US Federal Reserve System, Georgy Powell, announced measures to support the economy. He delivered his speech in the framework of the virtual symposium on economic policy in Jackson Hole, Wyoming.

Main takeaways of the speech:– Powell announced a major policy change to "target average inflation." It means that the central bank is inclined to allow inflation to exceed the standard target of 2% before raising interest rates.– The Fed will change its approach to employment, focusing on the poorest workers; it will support the labor market and try to return it to pre-crisis levels.

Gold and BTC skyrocketed on expectations of statements regarding the continuation of printing money. But then fell after the Fed Chairman didn't say so in plain text.

So what?

For example, CNBC named this market intervention the Fed's most aggressive ever. It can be said that the Fed has simply exhausted traditional methods of dealing with the crisis and moved on to severe methods.

Investors all over the world observe the assets' behavior, just like we do. Join us!

Mexico's Financial Intelligence Unit recently published the results of its second National Risk Assessment. The report highlighted that the risk of money laundering in the banking sector far surpasses the issues encountered by fintech companies.

So, yes! Money laundering risks in the banking sector are now significantly higher compared to a similar problem faced by fintech companies. Mexico's largest banks (BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa) reveal more suspicious transactions in the country than cryptocurrency companies.

So what?

It is extremely entertaining! Not so long ago, fat-bellied bankers, choking on marble steaks, were pointing their fingers at the cryptocurrencies and yelling that they are the tools for criminals. But it turned out that the old money regime is still dirtier than the new one. When will the old world find its peace? We think it will take hundreds of such reports to be released all over the world ... It will be time to run and prepare for the crypto-massadoption!

International Monetary Fund (IMF) has published a video about cryptocurrencies.

In a two-year-old reposted video, the IMF spoke about cryptocurrencies, how they work, and their benefits and risks.

And at the end of the video, it is said that digital currencies can become the next milestone in the evolution of the traditional monetary system.

So what?

IMF, why would you repost your old video? So much has changed since you released the first one! DeFi, stablecoins, new impressive projects ... so, if you don't have ideas on making a new video, please contact us. We will give you a hand!

The piece of news appeared on Cointelegraph, but then was immediately removed. FTX crypto exchange (which received investments from Binance) bought a cryptocurrency tracking app named Blockfolio for $ 150 million. The press release was probably posted a little earlier than necessary and was removed, but another thing is interesting here: why should FTX buy Blockfolio?

So what?

We wanna remind you that the Moni team is currently developing a similar (but much better😉) product. You can join the waitlist here; the release is coming soon!

On July 7, the amount of funds blocked in DeFi exceeded 2 billion, and now it is 7 billion! If we come to average values, almost every week, investors have put a billion dollars in this sector.

So what?

For some people, such deafening success may smell like the future, but for some, it may remind of a bubble.

Our advice! Learn DeFi, it's VERY interesting. A new generation of cryptocurrency projects is emerging literally in front of our eyes. When compared, Coinbase, Binance, Bitfinex, and others look outdated.

Well, the numbers, especially the large ones, are great, of course. But you shouldn't rely solely on the growing numbers. Think for yourself!