Google, leader in crypto-blockchain investment

Analyst

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A graduate of Montpellier Business School and Paris 1-Sorbonne, with experience in the worlds of banking and insurance, Laurent Pignot maintains such a passion for cryptocurrencies that he aims, one day, to launch a medium dedicated to the popularization of these alternative assets. What attracts this fan of sport and gastronomy? As a good representative of his generation, the decentralized and disintermediated dimension of these currencies. What drives it? Adrenaline is linked to the investment game.

The cryptosphere is full of crisp news daily. To keep you up to date with the main information revolving around this sector, I have condensed for you the essentials of the most important news of recent days.

  • Alphabetthe parent company of Google and Youtube, has invested over $1.5 billion in crypto-blockchain companies between September 2021 and June 2022. An amount that clearly exceeds the holdings made by the largest banks such as Morgan Stanley, Goldman Sachs, Citi Bank or even those made by the world’s largest fund manager BlackRock. Alphabet has mainly invested in FireBlocks, a company that offers institutional cryptocurrency custody solutions. We also find Samsung and Microsoft in the biggest rounds over this period, which proves the desire of the tech giants to seize the cryptosphere with the blows of billions of dollars. We might have guessed it, but the decentralization of blockchain systems is therefore gradually passing back into the hands of the Web2 giants. More information in the article: these stock market giants invest heavily in the Blockchain
  • Coinbasethe leading US cryptocurrency exchange, has announcement what would suspend all ether (ETH) deposits and withdrawals as well as the tokens that are backed by the Ethereum blockchain (ERC-20 token) during the network merger. This much-anticipated merger by the crypto community, called The Merge, is set to take place on September 15 and will move Ethereum’s consensus model from Proof-of-Work to Proof-of-Stake. of-Stake). The company explains that this exchange freeze is necessary so that it can “properly ensure the transition of its systems”. So we will surely see some turmoil and maybe some panic or euphoria on ether around September 15th.
  • The Canadian pension fund (CDPQ), one of Canada’s leading pension plan managers, wrote off its $150 million investment in bankrupt crypto lender Celsius Network. The firm reported a total loss of over $26 billion for the first half of 2022, a negative return of -7.9% according to the CDPQ press release. Alexandre Synnett, head of the pension manager’s technology department, said the company added Celsius Network to its portfolio in October 2021, a month before the market crash began. Bad pick for the Canadian pension fund and by repercussion for all its subscribers.
  • Buenos Airesthe capital of Argentina, announced via a city councilor that the city would become one of the first public entities in the world to manage Ethereum’s network infrastructure. Concretely, private companies will contract with the city to deploy one or more nodes allowing them to become a validator on the Ethereum network. An announcement that comes a few months after the mayor, Horacia Rodriguez Larreta, announced that citizens could pay taxes using cryptocurrencies. With inflation that could reach 90% in 2022, the country has no choice but to offer alternatives to its citizens, but it is also an opportunity to attract crypto-investors.
  • The European Union plans to create a new Anti-Money Laundering and Terrorist Financing Authority (AMLA) on financial markets, including cryptocurrencies. In other words, it will be a regulator whose objective will be to monitor, among other things, companies that offer services in the field of the cryptosphere in order to reduce money laundering and terrorist financing operations as much as possible. . A announcement which comes in addition to the Crypto Asset Markets Agreement (MiCa) which took place in early summer 2022. Sign of a tightening and more precise regulation of the crypto regulatory framework in Europe in the coming months .
  • The team Houston Texans of the National Football League (NFL), the Dallas Cowboys, has announced that it is becoming the first entity in the league to sell tickets with digital assets in order to attend games from the boxes of the stadium and, at this time, it has not been indicated that it would be possible to buy ordinary seats with cryptocurrencies. The partnership was forged with BitWallet, a crypto exchange founded in 2017 in Houston. For information, a place in the boxes of the stadium costs between 14,000 and 25,000 dollars. It will therefore be necessary, at present, to sell a little more than one bitcoin to take advantage of the best boxes.
  • The CEO of Meta, mark zuckerberg, posted a photo on Facebook featuring his own avatar in front of miniature models of Barcelona’s Tibidabo Cathedral and our dear Parisian Iron Lady in the “Horizon Worlds” metaverse. The opportunity for the Californian boss to announce the launch of his metaverse in France and Spain. But the graphical quality displayed is far from what one would expect in a 3D virtual world in 2022. Internet users had a great time on social networks to make fun of the tech giant across the Atlantic, especially since the company recently announced that it has racked up more than $16 billion in losses over the past 18 months on its dedicated Metaverse division, Reality Labs. But that will most likely not discourage the American giant, determined to offer its Ready Player One with Zuckerberg sauce.

Source: Mark Zuckerberg’s Facebook account

  • We end this Crypto Recap with an unusual news straight fromElon Musk. fraudulent cryptocurrency Manchester United Fan Token (MUFC)implying that, according to her name, she could belong to the Mancunian football club, jumped 3000% after a tweet from Mr. Musk. The whimsical boss of Tesla published on August 17 on twitter that he was going to buy the English club before admitting a little later that it was a joke. A lapse of time that was enough to blow up the course of the MUFC. But by digging into the dark corridors of this cryptocurrency, we notice that behind it hides a team of programmers who scammed users by promising them mountains and wonders in August 2021 which, once this scam was brought to light in the past year, drops the price by 100%. A year later, in 2022, the American billionaire’s tweet once again led to a surge of enthusiasm for the asset in question from some speculators. An increase to be minimized by the volumes, since they reached a peak of $39,000 within 24 hours of the tweets. A volume in dollars therefore to be qualified with the 25 billion dollars of Bitcoin exchanged over the last 24 hours at the time of writing this article. In short, Musk’s strong influence continues to make waves in the cryptosphere.

The evolution of the Top 20 cryptocurrencies in terms of capitalization over a week.
(Click on the heat map below to better visualize the variations)

Readings:

The Crypto Geniuses Who Blazed $3 Trillion (Intelligent, in English).

Crypto-fans try their hand at carbon offsetting (The Verge, in English).

The Ethereum merger is a big deal for crypto and the planet (Wired)

NFTs conquer football (Wired, in English).

Zonebourse.com 2022

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