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🚨🚨🚨 THE EL SALVADOR BITCOIN BILL HAS OFFICIALLY PASSED🚨🚨🚨
Nayib Bukele, the President of The Republic of El Salvador, has sent his “Bitcoin Law” to congress. THE BILL PASSED!
President Nayib Bukele hosted a Twitter Spaces with over 22,000 people tonight. @ChainLinkGod provides a recap here (thread):
Weeks after banning crypto for the ___th time, China will work on accelerating the development of a blockchain-based infrastructure. China will likely be the first country to roll out their Central Bank Digital Currency (CBDC) and aims to integrate blockchain tech into its economic and development plans.
The World Economic Forum released a new Whitepaper on Decentralized Finance (DeFi).
SEC Commissioner Hester Peirce, lovingly dubbed “Cryptomom” for her crypto advocacy, is pushing back against overly-strict cryptocurrency regulations.
Goldman Sachs joins in on a $28 million funding round of DeFi infrastructure firm Blockdaemon.
This news comes a month after Goldman re-opened their trading desk.
1% of all Bitcoin is now on Ethereum.
Bitcoin as is can’t be used outside of the Bitcoin blockchain. On the Bitcoin blockchain, all you can do with bitcoin is either a) send it, or b) receive it.
By “wrapping” your bitcoin, you deposit your Bitcoin and receive $WBTC, which is a 1:1 backed ERC-20 token (a token on the Ethereum blockchain). By wrapping your Bitcoin, you can now use $WBTC in DeFi - meaning you can use it to provide liquidity on decentralized exchanges, use it as collateral to take out a loan, or use it to pay for NFTs on NFT marketplaces.
That’s all for today.
Onward,
Josh