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
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