Happy Friday, Blockfolians
The Libra Association has just added a new member - one of crypto’s OG venture firms, Blockchain Capital.
This is the most recent announcement of a new member since Singapore investment giant Temasek and venture firms Paradigm and Slow Ventures joined 3 months ago.
Libra has had a bit of a rough start, coming out the gate to significant skepticism on the part of global regulators and monetary authorities. Since then, it has scaled back some of its ambitions and recruited a new network of Association members, many of them from the technology space and accordingly more closely aligned.
It would be a mistake, however, to consider the project over or irrelevant. Libra represents one of the loudest and most aggressive moves of the private sector getting into the business of money. Whatever happens with that project specifically, the trend they embody is something that is just beginning.
Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.
Highly Relevant Reading
Months after settling with the SEC, Engima registers a new token
A South Korean judged has summoned a Bithumb exec around fraud allegations
Bitcoin’s Lightning Network sees a slew of upgrades
NY judge rules Bitfinex and Tether still have to turn over documents
Another side of the fascinating MicroStrategy story — how the trade was executed
Michael Saylor @michael_saylorTo acquire 16,796 BTC (disclosed 9/14/20), we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each 3 seconds. ~$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike.
Coinbase Pro is now making users pay the gas fees
Coinbase Pro @CoinbaseProStarting today, Coinbase Pro will pass along network fees directly to our customers. These fees (sometimes referred to as “gas fees” on the Eth blockchain) are paid directly to crypto miners that process transactions and secure the respective network. https://t.co/hcuPoejwCz
A Really Big Number We Should Be Paying Attention To
That was the size of the hack that *nearly* brought Ethereum down. A forthcoming book tells the story.
Carve out the 30 minutes it takes this weekend to read this. You won’t be disappointed.
Lyn Alden @LynAldenContactLatest article on monetary policy vs fiscal policy, inflation vs deflation: https://t.co/a0PbU8sppA The crux of it is that the "is QE inflationary or not?" debate usually ignores the fiscal side, which is more important. https://t.co/uNbYpXirBA