This fun week in crypto: Arthur Hayes joined the most bullish bitcoin proponents with a USD 1m price prediction as part of “the doom loop”, Andreas Antonopoulos found a scenario in which BIP-199 could ‘kill’ Bitcoin, and Dan Morehead said that the BTC market is too large for any single actor to manipulate.
A crypto summit panel argued that regulatory clarity and more transactional use would boost stablecoin adoption, and a different panel said that more confidence by financial institutions could trigger the “second wave” of crypto adoption across Asia.
South Korea’s biggest crypto exchanges finally linked their rival Travel Rule solutions, Changpeng Zhao praised the Gulf Countries for ‘great’ regulations, the Bank of Mexico may seek to expand the scope of its crypto regulation, Emmanuel Macron’s re-election could boost a unified EU crypto regulation and the push for “European metaverse”, and a Panamanian MP explained that their crypto law is different from El Salvador’s Bitcoin Law.
Also, Goldman Sachs granted a lender a BTC-backed loan, while Robinhood opened its crypto wallets to 2m clients, and DeFi on Ethereum showed strong growth.