SEC chair nominee Gary Gensler calls BTC “catalyst for change”, and PayPal may buy Curv
SEC Chair Nominee: BTC is a “catalyst for change”
SEC chair nominee Gary Gensler is optimistic about the prospects for the development of the cryptocurrency industry and the blockchain. During his speech at the hearings, timed to the consideration of his candidacy for the post, the financier called Bitcoin “a catalyst for change.”
“Bitcoin and other cryptocurrencies have brought new thinking to payments and financial inclusion, but they’ve also raised new issues of investor protection… If confirmed at the SEC, I will work to promote innovation,” Gensler said.
In addition, the financier stressed that if he is elected as chairman of the SEC, he intends to work on “promoting innovation.” Gensler believes that “financial technology can be a powerful force for good.”
PayPal may buy cryptocurrency storage infrastructure provider Curv
PayPal is considering buying an infrastructure provider for storing digital assets, Curv.
“PayPal has made some great acquisitions in the past such as Vemno, and now they want to own something in crypto”- said one of the sources familiar with the situation.
The size of the transaction, according to preliminary data, can vary from $200 million to $500 million. Market participants believe that the decision to purchase Curv was made by PayPal after unsuccessful negotiations with the BitGo custodian in 2020.
Charlie Lee draws a parallel between today’s NFT boom and the ICO hype in 2017
Charlie Lee compared the NFT boom in 2021 with the ICO boom in 2017 and altcoins in 2013.
“I see a lot of parallels between 2021’s NFTs with 2017’s ICOs and 2013’s altcoins:
- easy to create new ones with no barriers;
- simple to understand & explain;
- brings tons of new people into crypto;
- high prices & pumps create hype/FOMO;
- few will hold & have value, most won’t, ” the creator of the Litecoin cryptocurrency tweeted.
During the first weeks of 2021, NFTs received tremendous attention from both cryptocurrency market participants and the media. For example, one of the latest deals involving non-fungible tokens was the sale of Beeple Crossroads NFT for $6.6 million, which was more than 100 times higher than the starting price.