The Ledger: Attitudes crypto diverge globally

As regulators continue to agonize over the nature of cryptocurrencies, consumers are not relenting from acquiring more.

Shiba Inu (SHIB), the meme token that is set to rival Dogecoin (DOGE) – and briefly did in terms of market capitalization earlier in November – reached its one millionth user. Yet, the US continues to cherish DOGE as its most searched cryptocurrency, at least based on search engine data by Google.

Meanwhile, the week started with some interesting analysis of decentralized finances. It seems that DeFi has been buffeted by scams over the last year, costing the network some $10.5bn. Rug pulls, hacking attacks and phishing have been in the root of the massive losses. SHIB was not spared from crypto scams as a matter of fact, prompting developers to issue a warning.

In the absence of Chinese mining operations, the US based Foundry has become the second largest BTC mining pool in the world, no surprises there. The US is pushing hard to be a crypto leader, although most of the initiative is chalked up to private endeavors whereas regulators are still fiddling with the details.

The country continues to see an increased number of Bitcoin ATMs delivered all over, which is another reason for positivism. Speaking of regulator, the most earth-shattering event for the industry is India’s plan to ban crypto, which is a complete U-turn from current developments in most of the world.

Regulatory woes have been felt across most of the world, including Australia where the country’s financial watchdog has called on crypto investors to be careful with such assets, citing their volatile nature and lack of a solid financial bedrock.

The country’s stock exchange has denied many promising crypto startups to trade on it, often calling crypto “money for criminals”. Meanwhile, Rest Super has become the first retirement fund in the country to openly broach a taboo topic – investing money in crypto.

While the fund is not carrying on with the investment right away, it’s already exploring options. High-profile crypto people talked about the industry this week as well. Ripple Labs’ Brad Garlinghouse cautioned that cryptocurrencies such as Dogecoin may not be entirely good for the crypto ecosystem, citing its “inflationary” qualities as the reason why.

Not least, the US Navy is now jumping in on blockchain  and ready to leverage the technology to advance internal operations. Meanwhile, not everyone is rushing towards crypto partnerships. In fact, FC Barcelona and Manchester City have opted out of deals with crypto establishments.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

Similar News

The Ledger: US election attracts $100m in bets

22/03/2024|17:45

Crypto prediction market Polymarket reported this week that it had seen as much as $100m worth of cryptocurrency wagered on...