What you need to know today in crypto and beyond March 29, 2021 If you were forwarded this newsletter and would like to receive it, sign up here.
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Today's must-reads Top Shelf VISA TAKES USDC: Visa will allow users to settle transactions in USD coin, a stablecoin. The payments giant also announced it had completed its first transaction on the Ethereum blockchain in a trial conducted with Crypto.com. This move will remove hurdles for crypto firms that previously had to switch between crypto and fiat to interact with Visa. WIDE WORLD: Cosmos' long-awaited inter-blockchain communication (IBC) integration, a messaging standard for the varied world of decentralized protocols, has been voted in. Now, other chains just have to implement it. BITCOIN-BACKED LOANS: Silvergate Bank will be the second lender to extend bitcoin-backed loans to investors who custody their crypto with Fidelity. The product targets investors who are interested in using their bitcoin without selling it, hedge funds, miners and over-the-counter trading desks. CRYPTO BATTLES COVID: A blockchain-based COVID-19 app is live in New York state. New York Gov. Andrew Cuomo said the IBM-developed health app can be used to prove COVID-19 vaccination and test results. Meanwhile, Miami wants to be a hub for bitcoin mining. – Daniel Kuhn
Overheard on CoinDesk TV Sound Bite "Frankly, you look at a lot of the challenges facing crypto right now and it's interfacing. You have crypto and you want to go buy bread or you have bread and you want crypto. How do you make that happen?"
– Sam Bankman-Fried, CEO of Alameda Research and FTX, said on CoinDesk TV's First Mover.
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A message from CoinDesk Introducing 'Coin Toss,' debating the future of money on CoinDesk TV
From the world leader in crypto news and events, the all-new CoinDesk TV covers the rapidly evolving world of digital finance and its role in the global economy.
Hosted by CoinDesk Podcasts Managing Editor Adam B. Levine, "Coin Toss" sets the stage for debate between guests with opposing views on policy and regulation, privacy and data integrity, fraud and crime and more.
Watch "Coin Toss" Wednesdays at 10:30 a.m. ET on YouTube or CoinDesk.com.
What others are writing... Off-Chain Signals DeFi TVL surges to $79 billion (a record) as Binance Smart Chain-powered protocols come online. (Cointelegraph) Forbes' Crypto 'A List' (USA edition) It's not just Square's Jack Dorsey that caught the bitcoin bug, CFO Amrita Ahuja thinks: "There's absolutely a case for every balance sheet to have bitcoin on it." (Fortune)
– D.K.
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BTCS: Proof of Stake: A stake through Proof of Work's heart?
Putting the news in perspective The Takeaway Don't Follow the Suits The cryptocurrency industry was created by a guy who liked message boards.
But basically we have a bunch of smart contracts written by an enigmatic DeFi artiste that attracted a bunch of other savvy degens to get involved and start suggesting ways to juice the already considerable profits on assets dropped into Yearn.
On the other end of the spectrum, we have Facebook's foray into crypto: born as libra, downgraded to diem.
– Brady Dale
A message from CoinDesk What are bitcoin and ether's value propositions for investors? A new report by CoinDesk Research explains how the two most popular cryptocurrencies by market capitalization behave in the market, how their infrastructure differs, and what on-chain metrics say about them.
Download "Bitcoin + Ether: An Investor's Perspective" from the CoinDesk Research Hub.
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