CoinDesk Reports

In this week’s episode, CoinDesk’s Christine Kim and Consensys’ Ben Edgington discuss mounting concerns over the potential for block reorganizations on Ethereum. They also discuss the lack of supply growth in the world’s largest stablecoin, tether (USDT), and the annual Ethereum conference in Paris, France, EthCC. 

This episode is sponsored by Unique One Network and Mimo.

Time bandit attacks are a Miner/Maximal Extrable Value (MEV) strategy involving the reorganization of past blocks. If the reward is great enough, Ethereum miners may be incentivized to propose competing blocks containing altered transactions at the expense of users and other network stakeholders. 

Edgington highlighted the negative effects these attacks would have on the network, saying, “You think your transaction is confirmed and then suddenly it goes away, and it may or may not be included in the next block. So it breaks user experience to a certain extent, and is not really good for the stability of the blockchain.” 

Luckily, these types of network attacks are difficult to pull off. Kim said miners would need to “split the network” using vast amounts of computational power, also called hash power, in order to have their version of transaction history rewrite the main Ethereum chain. 

Miners would need approximately 40% of total network hash power in order to reliably utilize a time bandit attack. This is an exceptionally difficult task, especially in a zero-sum game where miners are competing with each other for block rewards. However, in light of the fact all Ethereum miners will need to retire as the network upgrades to a proof-of-stake consensus protocol, certain miners may not be so resistant to collusion for short-term profit. 

Early attempts to create an open-source application that facilitates time bandit attacks on Ethereum  were met with backlash last week on social media. The negative community response to “open exploration” exposing the root of this issue on the network in Edgington’s eyes sets a bad precedent for transparent discussion about the ways Ethereum needs improvement. 

This kind of reaction “discourages people from coming forward with creative ideas or speaking up about things and turns gray hats into black hats, which is not what we want,” Edgington said. 

To listen to the full conversation between Kim and Edgington, check out this week’s episode of “Mapping Out Eth 2.0.”

Links: 

The Ethereum Community Conference - https://ethcc.io/

Tether Hasn't Printed New USDT in Weeks - https://www.coindesk.com/tether-hasnt-printed-new-usdt-in-weeks-3-possible-explanations 

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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“One thing that is important is you separate the short term versus the long term,” recommends Kevin Kelly to digital asset advisers aiming to build their understanding of crypto.

This episode is sponsored by Unique One Network and Mimo.

In this episode of “On Purpose,” host Tyrone Ross delves into adviser education with Kevin Kelly, founder of Delphi Digital. With increased demand for crypto advice from traditional investors, Delphi brings institutional-grade analysis in the form of digital asset research, consulting and a big-picture fund investing in new technologies in decentralized networks. 

Kelly emphasizes the importance of maintaining a data-informed, long-term conviction on the direction of each crypto asset class. He recommends market metrics resources and providers to help build a numbers-driven outlook, but also to study macro trends as the world and crypto become more entwined.

Listen to this episode for essential educational resources, rewarding mindsets for advisers and a peek into Kelly’s own outlook on the state of crypto.

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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In this week’s episode, CoinDesk’s Christine Kim and Consensys’ Ben Edgington interview Elina Sinelnikova, the Co-founder and CEO of Metis and CryptoChicks, about her Layer 2 scaling project and her role in bringing women into crypto. 

This episode is sponsored by Unique One Network and Mimo.

Metis, named after the Greek goddess of prudence and wisdom, is a Layer 2 solution to help boost the speed and lower the cost of transactions on Ethereum. 

Sinelnikova called the Greek goddess the icon of her project and explained her goals to “move forward with the same spirit as Metis as well as hiring more women,” who make up half of the project’s team. 

Sinelnikova also heads up CryptoChicks, co-founded with the mother of Vitalik Buterin, Natalia Ameline. CryptoChicks is a non-profit organization with the goal of educating women of all ages about blockchain and cryptocurrency. Without outside funding, the team is made up of predominantly volunteers, but has secured sponsorships from the likes of Microsoft, IBM and the Royal Bank of Canada. 

Blockchain engineering jobs have typically been dominated by males and Kim noted that there are “implicit biases that females are less technically minded,” which makes foundations like CryptoChicks even more important. In Sinelnikova’s hiring experience, all of her female employees have been over-qualified for their jobs. 

“We noticed that when the guys apply, they apply without experience and knowledge. When women apply, they’re 200% ready for that job,” said Sinelnikova. 

The female led Metis team is gearing up for a main network release of their product later this month. While boasting a higher transaction throughput than Ethereum, the Metis network will not sacrifice decentralization or security for its speed, according to Sinelnikova. 

Among the many technical solutions for blockchain scalability being developed on Ethereum’s Layer 2 such as state channels, side chains, zk-rollups, plasma and others, Metis uses a technology known as optimistic roll-ups to process and validate transactions in batches. 

To learn more about optimistic roll-ups, female empowerment in crypto, and Circle’s recent $4.5 billion dollar SPAC deal, listen in to this week’s episode of Mapping Out Ethereum 2.0 with Christine Kim and Ben Edgington.

Links:

Crypto Chicks (https://cryptochicks.ca/)

Dai Collateralization Data (https://daistats.com/)

Metis (https://metisdao.medium.com/)

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking to Jameson Lopp, developer and chief technology officer of Casa, a bitcoin custodian.

This episode is sponsored by Unique One Network and Mimo.

Lopp is a vocal bitcoin advocate and one of those people you probably think about when you hear “bitcoin maximalist.” In this conversation, Jameson explains his attitude toward non-bitcoin projects, DeFi projects and how he, himself, likes to kick the tires of various new projects to see what they are worth.

Lopp is a hardcore crypto anarchist. He believes that bitcoin is the kind of “F-you money” that allows financial autonomy unparalleled by any other financial tools. But are there many people ready to take the risks and responsibility of bitcoin self-custody for the sake of this freedom? For Lopp, it’s a “billion-dollar question” and a matter of constant work and improvement.

Listen to Ben, Anna and Danny talk to Lopp about his views on the challenges of bitcoin adoption, the quality of the DeFi projects he’s involved in and the most exciting project he is working on now.

Jameson Lopp’s Twitter handle: @lopp 

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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As we mentioned last week, this is part two of our two-part series of “Blockchain meet ESG,” an exploration of the challenges and opportunities that confront the crypto and blockchain communities as investors and businesses increasingly demand compliance with environmental, sustainability and governance objectives. This episode was recorded live Tuesday, May 25 2021 at Consensus 2021.

This episode is sponsored by Unique One Network, Mimo and Quantstamp.

In this second episode, our guests address subtleties and niches within environmental, sustainability and governance (ESG). Increasingly, blockchain technologies are employed in a variety of forms across the world to combat specific areas within ESG. These range from indigenous resource allocation and tracking to building sustainable supply chains from the ground up and applying big data to consumer water conservation. And that’s just a taste of what’s underway. At the same time, the blockchain back end’s impact on ESG is being refined, with initiatives angling to avoid worst-case scenarios of innovation, accurately quantify bitcoin energy consumption and reinforce incentives for using clean energy sources.

This time we’ll hear from a diverse array of fascinating guests:

 Julius Akinyemi, founder and CEO of UWINCorp, and Lucía Gallardo, founder and CEO of Emerge, discuss blockchain solutions for free and fair trade. The two companies both focus on resource assessment. UWINCorp encodes the data and location of indigenous plants onto the blockchain, while Emerge is building an agricultural resource database.

Tanya Stephens, senior innovation leader at Procter & Gamble, addresses ways to track sustainability through supply chains and a consumer-focused water conservation coalition. The “50L Home” initiative believes that if consumers have the right data at the right time, they will be able to reduce their water consumption to only 50 liters a day.

Austin Hill, founder of Brudder Adventures and the first CEO of Blockstream, explains the “Vulnerable World Hypothesis,” which investigates how current innovations could be abused or misused in the future. Though “Vulnerable World” predicts a dim future, Hill outlines several strategies to avoid the worst-case scenarios.

Meltem Demirors, chief strategy officer of Coinshares, and Anton Dek, research associate at the Cambridge Centre for Alternative Finance, outline methods for quantifying bitcoin’s energy consumption and interpret recent figures. A trend of co-locating mining facilities and renewable energy plants is placing decentralized, smaller-scale facilities on the grid.

Mike Colyer, CEO of Foundry (Foundry is owned by Digital Currency Group, the parent company of CoinDesk), and Jesse Morris, chief commercial officer of the Energy Web Foundation, present the miner’s perspective on the incentives of clean energy sources.

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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Quantstamp is the leader of blockchain security, having secured over 100 billion USD worth of digital assets. Visit quantstamp.com to learn why top DeFi projects like Maker, Compound and BarnBridge trust Quantstamp to secure the financial infrastructure of tomorrow. Learn more at quantstamp.com/blog.

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In this week’s episode, Christine Kim and Ben Edgington chat with CoinDesk Senior Markets Reporter Omkar Godbole about the evolution of ether trading markets. The duo also discussed the earnings of CoinDesk’s Ethereum 2.0 validator in recent months and the ways validator reward dynamics are expected to change after the network’s first system-wide upgrade, Altair.  

This episode is sponsored by Unique One Network and Mimo.

“Compared to 2017, the [ether] market has matured and we have more sophisticated players,” said Godbole. “I’m not surprised by just how fast the ether markets have grown because it’s actually the bitcoin market that first picked up the pace and now we are seeing activity flowing into ether and the [ether] options market.”

Increasingly sophisticated and deep-pocketed investors are turning to the ether derivatives markets as a way to diversify their crypto asset portfolios beyond just bitcoin, according to Godbole. In the process, certain market players are making millions. 

On Tuesday, June 22, 5,000 ether options contracts representing 5,000 ether were bought out at an estimated $5.44 million through a single trade on cryptocurrency exchange Deribit. As Godbole explained, the trade was executed by a market maker who bets on both sides of the market and profits from the spread between bid and ask prices for an option. 

Essentially, “they get commission for providing liquidity,” said Godbole. 

This particular market maker, according to Deribit CCO Luuk Strijers who spoke with Godbole about the events of June 22, made over $3 million from the trade. 

Outside of analyzing individual trades, Godbole also looks at aggregate data on trade activity in crypto derivatives markets in order to glean insights and hints about investor sentiment and broader market trends. 

The put-call skew is one metric measuring the price of put options relative to calls that can signal how worried investors are feeling about further potential sell-offs in bearish market conditions. 

“There is still considerable fear in both the ether and bitcoin options markets where put options are driving more demand or higher prices than calls,” said Godbole.  

Kim and Edgington also discussed a drought in block rewards for CoinDesk’s Eth 2.0 validator, Zelda. It has been over two months since Zelda has proposed a block on the network, which Edgington chalks up to being simply “super unlucky.”

To listen to the full conversation between Godbole, Kim and Edgington, check out this week’s episode of Mapping Out Eth 2.0. 

Links: 

• Ethereum Cat Herders (https://ethereumcatherders.com/index.html)
• How One Ether Options Trader May Have Lost $3M in a trade gone bad (https://www.coindesk.com/how-one-ether-options-trader-lost-3m-in-a-trade-gone-bad)

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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This week on “Opinionated,” Ben Schiller and co-host Anna Baydakova are joined by Paul Brody, head of blockchain at consulting powerhouse EY.

This episode is sponsored by Unique One Network and Mimo.

If you read CoinDesk in 2017 and 2018, you’d have come across many stories like this: 

Big Company joins Big Industry Blockchain Consortium to work on technology set to shake up Everything.

These days, many of those consortia are closed, others are barely issuing press releases, and “enterprise blockchain” is often struggling to take off. 

In recent months, IBM has laid off most of its blockchain services staff and Microsoft has shuttered its Azure-based blockchain-as-a-service platform.  

What happened?

Blockchain industry veteran Paul Brody unpacks why many corporate blockchain projects fail, and what works and doesn’t work when companies adopt decentralized technology.  

He pinpoints where blockchain is having a dramatic impact, the validation that comes from DeFi and how blockchains can re-engineer enterprises in the years ahead. 

Brody’s Twitter is: @pbrody

CoinDesk stories mentioned in this episode:

Brody: Web 3.0 Is Coming for the Sharing Economy

Brody: Public Blockchains Are Set to Reshape Global Commerce

IBM Blockchain Is a Shell of Its Former Self After Revenue Misses, Job Cuts: Sources

Microsoft to Shutter its Azure Blockchain Service This Autumn

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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With Sheila out on vacation, we’re doing something different on the Money Reimagined podcast this week and next. We’re bringing you remastered versions of two one-hour CoinDesk TV shows we recorded during the Consensus virtual conference in late May.

This episode is sponsored by Unique One Network, Mimo and Quantstamp.

The theme for this two-part series was “Blockchain meet ESG,” an exploration of the challenges and opportunities that confront the crypto and blockchain communities as investors and businesses increasingly demand compliance with environmental, sustainability and governance objectives. A total of 14 guests over the two days helped us dive into how blockchain technology can help communities collectively address climate change or boost financial inclusion, and how the technology might overcome its own ESG challenges, such as Bitcoin’s carbon footprint and the crypto industry’s relative lack of diversity.

These issues have become more urgent for the crypto industry as public attention has grown on the heavy energy usage within Bitcoin’s and other protocols’ proof-of-work mining systems. These were especially aroused by Tesla CEO Elon Musk, who walked back the company’s initial intention to accept bitcoin for its cars, citing environmental concerns. As Wall Street banks and asset managers put ever more resources into ESG investment vehicles and as the Biden Administration puts environmental and other concerns at the center of its regulatory agenda, these matters will only become of greater importance to the crypto industry. 

Industry insiders are trying to flip the debate. With the right deals and policies in place, Bitcoin mining could be used to underwrite the rollout of renewable energy infrastructure, for example. And blockchain technology could help resolve what is arguably the biggest barrier to the effective deployment of ESG mandates: a consistent record-keeping system to accurately measure their impact. The technology could also help align incentives within an economic ecosystem so that all profit-seeking participants are motivated to achieve outcomes that serve the public good. 

This first episode, recorded on Monday, May 24, tackles the complexities of counting, tracking, and reporting ESG, including climate accounting, sustainable investing, Wall Street’s ESG movement, blockchains for ESG tracking and tokenizing ESG.

You’ll hear from the following guests, each in short 5-10 minute segments:

• Massamba Thioye, co-chair of United Nations Framework Convention on Climate Change, and Martin Weinstein, founder of Open Earth Foundation, discussed the planet’s carbon accounting needs. They offered a high-level view of the humanity-wide challenge of how to consistently measure our collective ability to meet the Paris Accord’s 2050 targets for carbon neutrality and of how blockchain technology could help.

• Kevin O'Leary, the Chairman of O'Shares ETF chairman and investor on CNBC’s “Shark Tank” show, explained how increasingly powerful ESG committees are making institutional investors more picky about the assets they funnel money into. He shared some of his ideas on how the Bitcoin community can better adjust to this new reality. 

• Mark McDivitt, CEO of Context Labs and former global head of ESG at State Street, ran with the mantra of “what we can measure we can manage” to argue for sophisticated blockchain-based models involving multiple calibrations and analyses to ensure that environmental data is trustworthy enough for investors. 

• Cristina Dolan, the CEO of InsideChains, spoke of her work for a forthcoming book about data science and ESG demands, in which she and co-author Diane Barrero Zalles, detail the need for standardization and how this technology might help. 

• Marc Johnson, senior associate at Rocky Mountain Institute, highlighted his organization’s work using a blockchain model for tracking cumulative carbon emissions and reductions at each stage along a supply chain. 

• And Paul Brody, global blockchain leader at Ernst & Young, outlined a vision for how tokenization based on trusted environmental and sustainability data can generate digital assets that economically incentivize both investors and the businesses that issue them to consistently strive for positive ESG outcomes. 

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s crosschain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

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Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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Quantstamp is the leader of blockchain security, having secured over 100 billion USD worth of digital assets. Visit quantstamp.com to learn why top DeFi projects like Maker, Compound and BarnBridge trust Quantstamp to secure the financial infrastructure of tomorrow. Learn more at quantstamp.com/blog.

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See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this week’s episode, CoinDesk’s Christine Kim and Consensys’ Ben Edgington discuss the activation of EIP 1559 on Ethereum’s test network Ropsten and two potential protocol-level changes impacting Ethereum 2.0 validators. 

This episode is sponsored by Unique One Network and Mimo.

The London upgrade containing Ethereum’s fee market change, otherwise known as Ethereum Improvement Proposal (EIP) 1559, was activated Friday, June 25, on the Ropsten test network.

Kim noted early statistics about the activation of London on Ropsten, saying, “It looks like about over 80,000 testnet ETH was taken out of circulation, that is burned, as a result of EIP 1559. And the base fee, which is this new mandatory minimum fee payment required to send a transaction … was trending at about 100 gwei.”

If these figures were also seen on Ethereum after activation of London, it would mean average fee payments at minimum double from roughly 50 gwei to 100 gwei and about 30% of new coin issuance gets counterbalanced on the network through fee burning. 

Edgington warned these figures shouldn’t be taken too seriously as the high gas prices on Ropsten are partially a result of deliberate spamming in efforts to battle test the upgrade for main network deployment. 

“Also, Ropsten ETH is free, right? It’s costless. It’s testnet ETH. Sending a million transactions costs nothing except a bit of time so it differs from mainnet in that respect as well,” said Edgington.  

Looking further down the road to upgrades on the Ethereum 2.0 Beacon Chain, Edgington and Kim discussed the recurring idea to potentially lower the amount of ETH required to become a network validator. While this would make it less costly for users to validate and earn rewards on Eth 2.0, it would also require an “immense” engineering effort on the part of protocol developers, according to Edgington. 

“You can’t just change it to 16 ETH because what about all the people who have already got 32 ETH staked. They now have two validator entities. What a nightmare,” he said. 

Kim also noted that changing the required amount of ETH for validators would not be a long-term solution for encouraging a greater number of validators given the price volatility of the crypto asset, as well as the protocol-level decisions that still need to be made about the overall size of the Eth 2.0 network. 

Edgington and Kim also touched on the recent dispute between cryptocurrency custody provider Fireblocks and Eth 2.0 staking pool StakeHound. For the full overview on the dispute and what Eth 2.0 developers are considering to help users in similar situations, listen to this week’s episode of “Mapping Out Eth 2.0.” 

Links mentioned in this podcast: 

• Camila Russo’s The Infinite Machine (https://www.harpercollins.com/products/the-infinite-machine-camila-russo?variant=32123333836834)   
• Matthew Leising’s Out of the Ether (https://www.amazon.com/Out-Ether-Amazing-Ethereum-Destroyed/dp/1119602939) 
• Data about EIP 1559 on Ropsten (http://watchtheburn.com) 
• Legal Dispute Between Fireblocks and Stakehound (https://www.coindesk.com/fireblocks-being-sued-for-allegedly-losing-over-70m-of-ethereum-report)

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Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network’s crosschain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.

-

Mimo is home of the world’s #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.

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This week, “Opinionated” co-hosts Ben Schiller and Anna Baydakova are talking to Dovey Wan, partner at San-Francisco-based VC Primitive Ventures. 

This episode is sponsored by PumaPay.io.

China is getting serious about banning crypto. In a fresh onslaught on the industry this month, the country has blocked bank transfers related to crypto, and five regions, including the key hydropower province of Sichuan, have shut down the local miners. OTC desk operators are getting arrested en masse and mentions of crypto exchanges are getting censored on social media.

The market responded with another downfall starting June 21, Chinese miners are reportedly relocating to other countries, including the U.S., and crypto firms are looking for ways to survive in China without serving Chinese clients.

Dovey Wan has a good grasp of the way things operate in China, and she aptly unpacks the intricacies of the country’s power structure and the main forces behind the political and economic events.

Listen to the “Opinionated” co-hosts Ben Schiller and Anna Baydakova talking with Dovey about this latest crackdown, what it might be driven by and why it should be taken very seriously. Is China letting its crypto dominance go? How can this change the global crypto market, for good or bad?

Dovey Wan’s Twitter handle is: @DoveyWan.

CoinDesk stories mentioned in this episode:

• China Says Banks Must Block Crypto Transactions; Market Falls
• Sichuan Becomes Latest Chinese Province to Order Bitcoin Miner Shutdown
• Chinese Police Arrest 1.1K People on Crypto-Related Money Laundering Charges
• Chinese Internet Services Are Censoring Binance, Huobi and OKEx-Related Keywords
• Ether Drops Below $2K, Bitcoin Wilts as China Tells Banks to Cut Off Crypto Transactions
• Chinese Logistics Firm Airlifting Bitcoin Mining Machines to Maryland: Report
• Chinese Brokerages Look Overseas to Offer Crypto Trading: Report

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750,000,000 PMA tokens are now up for grabs. By depositing today, you will become part of the next evolution of DeFi payments. Go to PumaPay.io.

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