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Crypto Flipsider News – September 16th – EU to Invest $177B into Blockchain, Hedge Boomers Shilling Crypto, AMC accepting BTC, Cardano Teases Partnership(s), OpenSea Scandal, Vitalik on Time 100

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Crypto Flipsider News – September 16th – EU to Invest $177B into Blockchain, Hedge Boomers Shilling Crypto, AMC accepting BTC, Cardano Teases Partnership(s), OpenSea Scandal, Vitalik on Time 100

Read in the Digest

  • EU to Invest $177B into Blockchain Services
  • Hedge Boomers Shilling Crypto, Boomer News, AMC Accepting Alts and BTC
  • Some Big Partnerships Could Be Coming to
  • OpenSea Admits Insider Trading Scandal
  • Vitalik Buterin Features in Time’s Top 100

EU to Invest $177B into Blockchain

Since 2021, the European Union has made more moves to enter the crypto industry without final confirmation.

Just a week following the announcement by IOTA Foundation that the foundation had been selected to create EBSI infrastructure (European Blockchain Services Infrastructure), the EU decided to invest $177B into blockchain technology.

The report states that the EU has created a $177B investment fund to invest in data infrastructure, blockchain services, digital innovation, low-power processors and 5G communications.

The investment funds will likely be used in blockchain, but there is no detail on how much. Additionally, reports suggest that the EU might collaborate with the United States to develop standards for blockchain and crypto regulations.

Flipsider:

  • Despite the investment into blockchain report, the ESMA has still maintained a negative stance towards crypto
  • In its recent report, “Trends, Risks and Vulnerabilities“, the ESMA called cryptocurrency both financial innovation and a possible threat due to the cost of crypto mining

Why You Should Care

Blockchain has been identified as one of the most crucial technologies for the future. Blockchain technology can be used to create more efficient payment systems, and share infrastructure.

Hedge Boomers Shilling Crypto, Aussie Baby Boomers, AMC Accepting Alts and BTC

Gen Z and Millenials have made the news as the top investors in crypto. However, in Australia, we are seeing an increase in interest from baby boomers – those born between 1946 and 1964.

BTC Markets reported that over 65s have seen a 15% increase in their investment. In addition, baby boomers now comprise 5% of the BTC markets’ estimated 325,000 customer base.

Similar to the US, hedge-boomers are also selling cryptos. Ray Dalio, a billionaire investor and Steven Cohen are two examples of boomers entering the cryptocurrency space. During a Wednesday conference in New York, Dalio stated that “I have more crypto than gold.”

American movie theatre chain, AMC, has revealed that it will begin accepting altcoins in addition to . According to the announcement made by the CEO, Adam Aron, AMC will accept , , and before the end of the year.

Flipsider:

  • While some boomers are backing cryptos, a great percentage of them have stuck to traditional assets
  • The popular debate Bitcoin vs Gold continues, with more boomers favouring the later

Why You Should Care

The popularity and adoption of cryptocurrencies are increasing by the day. With more companies beginning to accept payment in Bitcoin, it won’t be much longer before paying with cryptos becomes the norm.

Some Big Partnerships Could Be Coming to Cardano

Following the successful launch of the Alonzo hard fork upgrade, the Cardano network has entered a new era. Cardano is now able to launch smart contracts. This puts it right in the direct competition of Ethereum and Solana.

Cardano’s life after Alonzo seems to be great, as the Cardano Foundation teases big partnerships.

Sidney Vollmer, the Head of Brand and Comms at the Cardano Foundation, tweeted, teasing the community with what’s to come;

The good news about the announcement is that the Cardano Summit will occur next weekend on September 25-26th. Cardano’s community will now have the details about the partners they are as well as their place in the ecosystem.

Flipsider:

  • Despite the developments around Cardano, ADA has not met the expectations of many
  • ADA was predicted to hit $12.12 by October 2021. However, it is currently valued at $2.47

Why You Should Care

Cardano is the third-largest crypto by market capitalization with $79 billion. Cardano will grow further with the Alonzo upgrade, and future partnerships.

OpenSea Admits Insider Trading Scandal

Since the onset of the crypto industry, there have been different shades of scams and frauds. OpeanSea recently had a valuation of $1.5 billion and admitted that it was part in an illegal trading scam.

The NFT marketplace, OpenSea, confirmed rumors via a blog post that one of their employees “purchased items that they knew were set to display on our front page before they appeared there publicly.”

Flipsider:

  • While OpenSea refused to mention names, the transaction receipts were traced back to a user known as Chastain.
  • After the NFT was listed on OpenSea’s main page, he bought it and then sold it.

Why You Should Care

The insider trading scandal of OpenSea shows that fraudsters are evolving their methods. OpenSea has stated that it will “update everyone eventually after an internal investigation is complete.”

Vitalik Buterin Featured in Time’s Top 100

According to Time magazine, the co-founder of Ethereum, Vitalik Buterin, the world’s second-largest cryptocurrency, has been recognized as one of the 100 most influential people of 2021.

While the Ethereum network, which has a market cap of over $420 billion, couldn’t have been built by Buterin alone, Time cited his role in building the Ethereum network. Time’s magazine now recognizes crypto as a business and already accepts crypto payments for digital subscriptions.

Flipsider:

  • Despite Ethereum becoming close to being all about DeFi, Buterin has cautioned its growth
  • Buterin warned that DeFi might be becoming too much of a gambler’s den

Why You Should Care

The inclusion of Vitalik Buterin in Time’s most influential people of 2021 shows that the world is embracing crypto more than ever before. Time appears to be accepting the cryptocurrency space as an actual business.

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