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