The crypto world clearly didn’t sleep this week and once again we witnessed, drama, suspense and a few prophetic predictions about the future of the industry.
The week began with JP Morgan arguing that 2022 will be the year of “tokenization”. Meanwhile in the UK, MPs urged the government to once again rally its efforts and make stricter rules around crypto.
One of the arguments delivered by MPs was to include crypto as part of the Gambling Act review, a document designed to analyze and issue suggestions on the way the gambling industry in the country operates.
PayPal stepped forth and admitted that it’s working on stablecoins of its own. However, no exact date was given and for the time being, this is an internal project with no launch date set.
Drama was all part of this week’s ordeal as Mozilla reminded consumers that it would not mind being donated Doge or Bitcoin (BTC). Things got ugly very soon after, though, as co-founder Jamie Zawinski blasted the foundation in the most unflattering terms he could muster.
No amount of criticism has been able to stop the advance of the Chinese digital yuan. The special digital wallet created to accommodate this CBDC has quickly become one of the most downloaded apps on almost any mobile app shop in the country.
As Kazakhstan faced some of its worst political unrest, Spain decided to step forward and offer plans for establishing crypto mining – an unlikely idea given how much the Green Party opposes the industry.
Ethereum continues to pull ahead of other currencies with more developers tuning in to work on the protocol. And, speaking of mining, Tesla owners have been using their cars to mine BTC, which may not be a good idea, given that a new Tesla battery may easily cost you $30,000.
But perhaps the boldest move this week comes from billionaire Bill Miller who shifted half of his net worth into BTC, making t one of the biggest investments by anyone into the sector.
It’s not all work and no play in the crypto sector though, as Coinbase announced that it would give employees four mandatory weeks off during which the company will be running on a skeletal crew.