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Bank of England Deputy Governor Warns Crypto Could Cause 2008-Level Meltdown
Jon Cunliffe, the Bank of England’s deputy governor for financial stability, warns that cryptocurrencies could spark a global financial crisis. “The Hash” hosts challenge his arguments. “Crypto is not the problem,” host Naomi Brockwell said. “Crypto is the solution.”
Morgan Stanley CEO Says Crypto Isn’t a Fad, Though Not Seeing Much Client Demand
James Gorman, CEO of Morgan Stanley, said cryptocurrency isn’t a fad and is not going away. Though, he said his bank isn’t seeing much client demand. In April, the firm confirmed it is offering wealth management clients exposure to bitcoin through a pair of external crypto funds.
Polkadot Sets Date for Hotly Anticipated Parachain Auctions
The much-anticipated parachain auction process, where projects are allocated slots for building on the Polkadot smart contract blockchain, is slated to begin on Nov. 11. “The Hash” squad discusses the outlook for the Polkadot network following the latest step signaling the vision for an interconnected blockchain framework could be realized soon.
SEBA Bank Exec on Launching Program for Clients to Earn Yield With Crypto
Digital asset platform SEBA Bank has introduced a product that will let clients earn a yield on their crypto holdings. Institutions can generate rewards from proof-of-stake protocols such as Polkadot, Tezos and Cardano, with other networks to be added over time. Urs Bernegger, Co-Head of Trading and Investment Solutions at SEBA Bank, discusses the launch, the role of Europe in DeFi, and his crypto markets assessment.
Putin Signals Tolerance of Cryptocurrencies
CoinDesk’s Nikhilesh De discusses the specifics, reactions, and implications for Russian President Vladimir Putin saying crypto has value but cannot yet replace the U.S. dollar in settling oil trades.
Putin: Crypto Can’t Yet Replace Dollar in Settling Oil Trades
Reacting to Russian president Vladimir Putin saying he doesn’t think crypto can replace the U.S. dollar in settling oil trades yet, though he believes it has value. Merkle Science’s Mary Beth Buchanan discusses the implications for Russia potentially warming up to crypto.
Coinbase Prime Now Supports Stacking for STX
Coinbase Prime, crypto exchange Coinbase's trading platform serving institutional investors, is now introducing a way to passively earn bitcoin using the stacking feature of STX, the token used by the bitcoin-focused Stacks ecosystem. Brittany Laughlin, executive director of The Stacks Foundation, explains how Stacks works and its connection to bitcoin, the Coinbase partnership, MiamiCoin, and the broader crypto industry.
US Becomes the New Bitcoin Mining King Following China Crackdown
According to the Cambridge Centre for Alternative Finance (CCAF), the U.S. has become the world’s leader in bitcoin mining following China’s renewed crypto industry crackdown, accounting for 35.4% of the global hashrate as of the end of August, more than doubling from 16.8% at the end of April.
Bitcoin Miner Profits Recover
New data on bitcoin mining profitability reveals the Antminer S9 and S19 mining machines have been following the price of bitcoin up in recent weeks. Arcane Research said the increasing bitcoin price coupled with a stagnating hashrate, or blockchain computational power, has made 2021 a lucrative year for bitcoin miners. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Coinbase and Binance Move to Diversify, Stablecoins Under Scrutiny
Coinbase announces NFT platform. Binance launches US$1 billion growth fund. Stablecoins are under greater scrutiny. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”