A weekly look at the most important moves and news in crypto and what's on the horizon in digital assets.
Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch, and I’ll walk you through the latest and greatest in digital assets this week so far.Crypto in a snap Bitcoin... Hello! Welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday.
“We’re very selective at EY about which ecosystem to work in. We audit across many ecosystems, but we only do development in the Ethereum ecosystem,” Brody told Distributed Ledger in an interview. The firm uses Polygon, an Ethereum scaling platform, for its enterprise activities to lower transaction costs.
In terms of bitcoin, Brody said he is unclear of what the future of the largest crypto is, as it hasn’t provided a compelling case to be used as a hedge against inflation. “More importantly, Bitcoin isn’t a developer ecosystem,” Brody said. Terra 2.0? Terra’s validators have passed a proposal to “revive” the blockchain after its crash, according to Terraforms Labs, which backs the blockchain.
Of the $4.5 billion, about $1.5 billion will be used in seed investments while $3 billon will go towards venture investments, according to Dixon. The problem with crypto is that most coins are “junk” or “garbage,” according to Minerd. Although he believes that both bitcoin and ethereum will ultimately survive the downturn, Minerd said crypto likely hasn’t found the right “prototype” yet to help drive more widespread adoption.
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