Bitcoin is a shining City in cyberspace 

and you can go there once you understand it


a lot of different altcoins we're going to cover 

in today's video check the time stamps below also  


I want to clue you in into important news stories 

that affect us as cryptocurrency enthusiasts and  


cryptocurrency investors of course that's why 

you subscribe to our channel for the daily crypto  


content keeping you informed let's start right 

here the co-founder of polka dot Gavin wood also  


co-founder of ethereum is stepping down from 

the CEO role of polka dot actually the main  


builder of polka dot let me explain to you the 

details Gavin wood is shaking off his CEO title  


at parity Technologies which is the key backer 

supporting the polka dot ecosystem Gavin wood is  


a longtime crypto developer who co-founded polka 

dot After exiting the ethereum foundation in 2015  


he will remain a majority shareholder in parity 

Technologies and his co-founder Bjorn Wagner will  


become the new CEO so what's Gavin wood going 

to focus on well in in a statement shared with  


coindesk Woods said he will be focusing on making 

polka dot more relevant to large swaths of the  


population in his new role as Chief Architect 

quote this will Begin by helping the community  


design and build several interesting chain 

integrated social Primitives which I think are  


crucial for us to deliver a true web 3 platform 

so does this remind you of anyone to me this is  


reminiscent of Michael Saylor stepping down 

from CEO of microstrategy to take a different  


position so he can focus more on bitcoin Gavin 

wood stepping down from CEO role to focus more  


on polka dot so the real headline should read 

polka dot development Shop parody Tech appoints  


its co-founder and skilled business leader Bjorn 

Wagner to CEO allowing polkadot founder and  


Technical leader Gavin wood to focus efforts on 

technical strategy architect and development let  


me know if you like polka dot if you're bullish 

on the project let's talk about ethereum ethereum  


is going through quite a milestone and major 

change for the past 12 days ethereum Supply  


went deflationary with 10 000 eth taken out of 

Supply so understand the significance ethereum  


records its first deflationary month in history as 

circulating Supply declines ethereum Supply since  


the merge has risen only 3600 with a negative 

Supply growth over the past month indicating  


ethereum has achieved deflationary status and you 

can see the difference right here ultrasound.money  


I mean this was the the Pivot Point the changing 

point if we were to just simulate say ethereum  


didn't transition to proof of stake say it stated 

proof of work let's simulate that real quick and  


you can see the amount of eat issued is just 

orders of magnitude more let's switch back to  


proof of stake which it is and so much less Ethan 

on the open market big change tldr just six weeks  


after the merge ethereum has gone deflationary 

the network is producing negative issuance over  


the past 30 days and the now shrinking Supply 

is attracting institutional investors which  


institutional investors Fidelity to roll out 

ethereum trading for institutions next week  


Fidelity will officially make ethereum the second 

largest cryptocurrency by market cap available  


to all of its customers on October 28th now it is 

important to remember that this deflationary month  


for eth was actually caused by some hex variant 

Ponzi Zen crypto and while it's fantastic that EIP  


1559 increases ethereum security when ponzis Spam 

The Chain it also highlights that as a community  


we have a long way to go to produce real value 

let's check in on bitcoin Bitcoin is actually  


less volatile than the NASDAQ and S and P Bitcoin 

less volatile than the stock market for the first  


time since 2020 to help explain why Bitcoin is 

so stagnant and provide us some perspective and  


actually an Outlook as to some bullish catalysts 

going into the end of the year I really liked  


Kristen Smith's perspective she's the executive 

director of blockchain Association on cnbc's  


Squawk Box just this morning listen to her explain 

why Bitcoin has been so stagnant and her possible  


bullish catalysts going into end a year and I 

think Bitcoin has been largely stable for a couple  


of reasons um one you have the retail investor 

that has largely exited investing in Bitcoin as  


Frank was talking about before people are worried 

about paying for gas they're worried about paying  


for groceries they don't have the you know ability 

to put extra money away by investing in Bitcoin  


at the moment but um I do think that the the 

investors that are in there right now are holding  


out for a future date uh they're they're in it 

for the long run and that I think as we start to  


see the economy turn around and people putting 

more risk into their in investment portfolios  


we're going to see the uh the investment 

in Bitcoin rise and subsequently the price  


what kind of uh legislation do you foresee and 

what would any legislation at all be a positive  


or does it matter what what finally comes down 

the pike yeah yeah no listen I think what's really  


interesting right now is that Congress is actually 

actively working on legislation that would provide  


additional regulation for the underlying digital 

commodity spot market so including the Bitcoin  


spot market and this actually has a real chance of 

getting done before the end of the year that the  


chair and ranking member of the Senate agriculture 

committee has introduced the digital Commodities  


consumer protection act the dccpa and this 

is a pretty good framework for regulating  


centralized exchanges in the spot markets there 

is one outstanding issue around decentralized  


Finance these are software protocols that operate 

completely differently than custodial centralized  


exchanges but that's an issue that's being worked 

out I'm optimistic we'll come to a good resolution  


there but yeah it's uh there's I think there's a 

decent chance we could see legislation signed into  


the law before the end of the year step in move 

to earn step in competitor greety steps up in  


the move to earn space a new move to earn game 

is a arriving later this year with designs on  


setting a gold standard for mobile fitness apps 

key takeaways greedy and upstart competitor in  


the move to earn gaming space has closed its 1.7 

million dollar seed round previous attempts at  


such gaming models have enjoyed fleeting success 

but ultimately succumbed to poor token mechanics  


greedy is happy to boast its credentials but 

whether or not it can deliver remains to be  


seen so greedy I'm sure this is not going to 

be the last time you hear about it and just  


want to update you they secured some funding I'm 

sure the marketing is coming next and if it has  


better tokenomics hey this could be big Interpol 

launches first ever metaverse designed for Global  


law enforcement the global police organization 

unveiled its own metaverse indicating that more  


oversight of virtual worlds is imminent the 

international criminal police organization  


Interpol has announced the launch of its fully 

operational metaverse and initially designed for  


activities such as immersive training courses 

for forensic investigations I'm sure it will  


evolve as the metaverse evolves concerns are being 

raised about potential metaverse crimes including  


crimes against kids Data Theft counterfeiting 

ransomware sa and harassment quote for many the  


metaverse seems to Herald an abstract future 

but the issues it raises are those that have  


always motivated Interpol supporting our member 

countries to fight crime and making the World  


virtual or not safer for those who inhabit it it's 

from Interpol itself so we'll keep you updated on  


this and finally a little good news this is what 

I like to see this is positive regulation Japan  


to relax cryptocurrency listing rules the Japan 

virtual and crypto asset exchange Association  


plans to allow crypto trading platforms to list 

coins without going to through a lengthy screening  


process quote we hope the latest measure will 

help Revitalize Japan's crypto asset Market  


said the vice chairman of the association and 

these relaxed rules could take effect as early  


as December interesting to see a major country 

like Japan doing this while the US is just taking  


baby steps it seems subscribe to the channel join 

our team daily crypto coverage see you tomorrow