The Recap: Crypto Winter, NFT Instagram, Institutional DeFi …

L’crypto winter it’s hard for DCG, Dapper Labs And Coinbase; UBS throw a obligation of a new kind; the Bank of France try to Challenge; instagram becomes a NFT market .. Back to the news of the week.

Global warming may be more relevant than ever, but in cryptocurrencies it is Winter which is strict. And this is particularly vigorous after two years of sunshine. During this week alone, several major players have announced restructurings.

For Coinbase, the winter of cryptocurrencies is first and foremost synonymous with falling revenue. The $ 2.5 billion in revenue at the end of 2021 seems long gone. Over the past 3 months, the exchange has posted a Turnover of 576 million. The the decrease is accentuated in 2022. The news is no longer positive on the side of Venture Protocol, Dapper Labs, Digital galaxy And DCG. However, not everything is black in the photo. Thereby, Fidelity observes a resilience of interest in cryptocurrencies among institutional.

An obligation on the blockchain and the TradFi market

UBS she is quite proud of her announcement. The Swiss bank simply claims a world first. The institution is proud of the commercialization of a 100% digital obligation.on the issue side, with winnings.

But this obligation of an amount of 375 million Swiss francs has other features. It will in fact be listed and traded both on the blockchain platform (SIX Digital Exchange or SDX) and on the “traditional” stock exchange. SIX Swiss stock exchange. Settlement takes place on SDX CSD and will be “instant and automatic”. Farewell to the central clearing counterparty.

Moss makes Dogecoin spin

Just at the helm of Twitter, Elon Musk already take the opportunity to tickle the community Dogecoinalready sensitive to billionaire tweets and cryptocurrency holder. DOGE jumped again following a tweet from Musk that included a photo of a shiba inu dog breed wearing a Twitter T-shirt.

During the previous week, the same coin doubled in value. Since then, the souffle has declined slightly. Dogecoin remains a very volatile token, like the moods and tweets of Tesla’s CEO.

Instagram provides the NFT kit for creators

Half choice instagram multiply the experiments and developments on NFT. The social network is therefore the first to welcome new functions. This is also the case this week with the availability of a end-to-end management tool for non-fungible tokens for creators.

The application therefore allows them to coin, or create and sell their NFTs, both directly on the platform and on a third-party service. The pilot starts in the US with a small circle of users and on the blockchain polygon. Then, if the test is successful, Meta will expand it to other countries, as it did in early 2022 with the exposure function.

The future of DeFi for institutions

“I’m not sure if the Web3 developers today want to work for the Bank of France “, Launched during a conference an executive of a private bank engaged in his shift crypto. This is not so sure given the innovative experiments underway within these institutions, such as the projects Guardian Where is it Mariana.

If the Challenge intrigues and defies regulators and legislators, the central banks however they begin to grasp it as part of their explorations around the CBDC. The MAS (Monetary Authority of Singapore) signs a first success in the context of the Guardian. He thus carried out his first direct operations. These involved trading in foreign currencies and government bonds on cash pools. The BoF is preparing for similar pilot projects through Mariana, a project led by the BRI.

Also not to be missed:

Every Sunday morning onwards look at the main news of the week with the ” Summary of cryptocurrencies “.

To follow Corners.Fr On TwitterLinkedin, Facebook Where is it Telegram not to lose anything. Subscribe to our cryptographic newsletter receive a news summary every week.

Leave a Comment