This Week In Crypto | 2nd September 2022

Hello everyone!

Welcome to another episode of crypto weekly, where you get updated on the significant events shaking the cryptoverse over the past few days.

In today’s episode of crypto stories and happenings, we bring you the following;

  • Nassim Taleb – “Crypto Winter Might Develop Into An Ice Age”
  • Mayo Clinic Taps into Blockchain Technology for Clinical Trial Design
  • Crypto.com Backs out of $495M sponsorship deal with UEFA Champions League

Let’s jump right in;


1. Nassim Taleb – “Crypto Winter Might Develop Into An Ice Age”

Risk analyst, former options trader and author of “Black Swan”, Nassim Taleb took to Twitter to give his opinion on Barry Silbert, cryptocurrency tycoon & creator of the Digital Currency Group and its sister company, Grayscale.

He is of the opinion that Silbert is awaiting Bitcoin’s charting to above $100,000.

Taleb had tweeted earlier this year that Bitcoin would still be a failure even if its price reached $100,000.

To him, the cryptocurrency has demonstrated ineffectiveness as an inflation hedge.

According to Taleb, the current “crypto winter” might turn into a “full blown ice age”.

However, the Digital Currency Group’s creator has remained a proponent & investor of the cryptocurrency.

He in fact, is looking forward to selling Bitcoin at $100,000 to Taleb as expressed in his tweet.

2. Mayo Clinic Taps into Blockchain Technology for Clinical Trial Design

Triall, a Dutch blockchain startup announced on Thursday that it has partnered with Mayo Clinic, America’s non-profit medical center for optimization of clinical trial design and management of study data.

The partnership features Triall’s eClinical platform supporting a 2-year multi-center pulmonary arterial hypertension clinical trial which includes 10 research sites & above 500+ patients across the United States beginning this September.

Also, the software will support activities like data capture, documents management, study monitoring and consent.

According to Triall, the aim of the collaboration is to show immutable public ledger audit trail through its blockchain technology for boosting clinical trial integrity.

3. Crypto.com Backs out of $495M Sponsorship Deal With UEFA Champions League

According to reports on Wednesday from SportBusiness, Crypto.com has pulled out of a $495 million agreement with UEFA.

This is due to its legal team citing regulatory concerns with the exchange’s licenses in the United Kingdom, France, and Italy.

Crypto.com was reported to have stepped in as a potential sponsor after the Champions League dropped Gazprom, a Russian state owned energy firm as a result of the country’s invasion of Ukraine.

4. Bitcoin Marks 9th Consecutive Month Of Sluggish Funding Rates

During the past two months, Bitcoin funding rates may have entered one their worst streaks yet.

There is yet to be positive funding rates, rather the best so far has been neutral rates.

However, currently the neutral levels are proving incredibly hard for funding rates, taking a deeper dive with each week that passes.

Also, the cryptocurrency has now hit nine months of funding rates below or at neutral levels on various exchanges.

This has put the perpetual swaps at a continuosly lower rate compared to spot market prices.

Traders of Bitcoin have since began reducing their risk exposure to the digital asset, a result of the culmination of such wariness.

5. Crypto Call Centers Duping People Across Europe Busted By Ukranian Cops

In the midst of the ongoing Ukranian crisis, a group of scammers have decided to take advantage of the situation and seperate victims from their money through technological means.

The police and Security service of Ukraine, launched an operation against a call center defrauding people.

They utillized a software which hides their actual phone number in a bid to appear legit, coupled with bogus websites for institutions & exchanges that facillitates trading of fiat currency, crypto, gold and securities.

The rise of fraudulent call centers is an indicator of what may occur if enforcement efforts are not maintained.

According to the Ukraine’s Criminal Code, those found guilty of the aforementioned call center fraud might be sentenced to 12 years in jail.


Heads up!

If you want to learn how to trade cryptocurrencies profitably, then enrol in our Crypto Trading Mastery Course by going to www.ctmastery.com

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Conclusion

We seem to be at a point of support on the BTC price chart.

BTC Chart

Whilst fundamentals look good for the coming weeks, technicals spell gloom.

Where will the market go? HODL On!

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