Daily Crypto NewsEDITION #50, 13 October 2020

How helicopter money changed?

Hey #Moni Maker 👌

Today, in 1792, the first stone was laid in the foundation of the President of the United States' residence, which, since 1809, was called the "White House". Since then, the United States has been transformed into a powerful economic power, and its President is one of the most powerful figures of our time. But even he has no control over either the Fed chairman or the Reserve System itself. A handful of bureaucrats should not make critical decisions, such as printing $9 trillion in a single year. But we're not here to promote anarchy; we're just all in on decentralized finance, open (transparent) source projects, and the finite scarcity of financial assets. So while the "USD & Co" are depreciating to the sound of a humming printing press, let's better check out what another crypto day has to tell.

Let’s go!

Arie Paul, IT Director and Managing Partner at BlockTower Capital predicted that PayPal could announce buying Bitcoin by the end of this year:

In July, the payment giant PayPal said in a letter to the European Commission that it was researching cryptocurrencies and "developing and implementing cryptocurrency solutions".

Don't forget that MicroStrategy and Square announced purchases of Bitcoin some time ago.

So what?

Well, this is simply inevitable :). Companies look at Bitcoin and see the hedge from the coming inflation, so they are in a rush to buy it.

Usually, small and medium-sized businesses follow the giants. Make yourself comfy, and let's watch this thing unfold. 😉

Six months ago, the U.S. Congress approved a $6 trillion economic stimulus package (helicopter money), and the Americans were given out checks for $1200 under this program.

The infographics from Coinmetrics (just above) show what these $1200 would turn into if they were invested in the next assets: gold, S&P 500, Bitcoin, or Ethereum.

So what?

And... what would they be worth if they were put into UNI in early September?

Fiat is no longer an asset; it's an intermediary between sound money/assets and us, just humans who want to avoid inflation and other robberies.

According to The Block, the monthly volume of trading in Ethereum futures rose to a record $172.2 billion in September, an increase of 5.3% over the previous record - in August, the trading volume was $163.1 billion, and since the beginning of 2020, an increase of almost 320%.

So what?

And people talk about "decreasing interest in DeFi"...

Yes, yes, everyone knows about it. ETH must have missed the news :)

Important project events for this week (October 12-18). Do not miss them!

— Binance launches trading of perpetual REN/USDT futures contracts with up to 50x leverage tomorrow at 7:00 AM (UTC).