Christine Lagarde Attacks Bitcoin - CRYPTO FRIDAY

Jan 15, 2021

Hey DEFI TIMES community,

On January 13, European Central Bank President Christine Lagarde gave an interview in which she expressed her thoughts about Bitcoin. In short, she said:

1) Bitcoin has been used for money laundering

2) Bitcoin must be regulated

3) There should be global rules for Bitcoin

It was interesting to hear her thoughts. Take a moment and listen to a small clip of the interview.

Reuters @Reuters

ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: reut.rs/2LHcDBr

For me, this is as bullish as it can get. Even though Lagarde's comments were mostly negative, it shows how much Bitcoin has established itself over the years.

There's a famous quote that I keep thinking about when I read news like this:

"First they ignore you, then they laugh at you, then they fight you, then you win" - Mahatma Gandhi.

We are already in the fighting phase! Big central institutions like the ECB are recognizing the value Bitcoin has to the world. They consider Bitcoin as a threat and try to bring it down.

It's only a matter of time until we win. But don't expect the battle to be easy. Central banks and governments will fight. They will try to ban Bitcoin and crypto, and they will overly regulate it.

But in the end, crypto will succeed.

When you see Christine Lagarde talking bad about Bitcoin, you know that we have already won!

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Permissionless Curve Pools

Andre Cronje @AndreCronjeTech

Summary on permissionless pool creation; Uniswap ✅ Sushiswap ✅ Balancer ✅ Bancor ✅ Curve 🔜 Any ideas what happens to TVL and fees when anyone can create stable coin pools for their new stable coins? For the algos, get_virtual_price() is flash loan proof. 😉

In one of his recent tweets, Andre Cronje hinted that the Curve Pools might become permissionless. Any stablecoin could be added without asking for permission. This could enhance liquidity. YFI will also profit from this because it depends on Curve trading fees.

Umbrella Protocol

Umbrella Protocol @UmbrellaByYam

We're happy to share that our internal alpha testing has begun! Umbrella, by the @YamFinance community, has the potential to become a critical lego for DeFi by offering - customizable pool creation - intuitive experience - reliable NFT-based protection

Umbrella Internal AlphaWe are excited to share that internal alpha testing has begun for the Umbrella protocol. Umbrella has the potential to become a critical lego block for the DeFi ecosystem by offering customizable…medium.com

Yam Finance announced the launch of Umbrella Protocol, a permissionless insurance protocol. The coverage will be tokenized using NFTs. The pools for the insurance funds can be created in a permissionless way.

AAVE launches new tokenomics

Aave @AaveAave

AIP-7 has been voted on and executed: 💫Stake slashing has been activated 💫Safety Incentives have been increased to 550 $AAVE/day More details👇 medium.com/aave/aavenomic…

Aavenomics Quarterly UpgradeIn September, 2020, the Aave Protocol began the initial phase of the Aavenomics. In this genesis phase, $AAVE holders could stake their AAVE in the Safety Module and earn Safety Incentives, but…medium.com

The risk for AAVE stakers will increase because the recent AIP introduced stake slashing. That's why the rewards for stakers have increased to 550 AAVE per day.

Gemini considers IPO

Ryan Sean Adams - rsa.eth 🏴 @RyanSAdams

Gemini is considering an IPO This bull market is gonna be nuts

Gemini was one of the first crypto exchanges. According to a teet by Ryan Sean Adams, Gemini is considering going public in 2021. Gemini could be the second crypto exchange to go public after Coinbase.

Ledger data hacked again

Ledger @Ledger

Recently, we shared news of a data dump. On December 23, we were alerted by our e-commerce provider Shopify about an incident in April & June '20 where their rogue team members exported merchants' customer databases. Ledger was included. More details: bit.ly/3qf8BPL

Ledger's data was hacked again, but this time from Shopify. As Andreas Antonopoulos tweeted out, Ledger continues to fail to learn:

Andreas M. Antonopoulos @aantonop

#LedgerHack expands to 20,000 more customer records leaked from Shopify. I received a notice from Ledger, with inadequate advice or clarity (again). They continue to fail to learn. Learn what to do to protect yourself: aantonop.io/ledgerhack

CoinDesk @CoinDesk

.@Ledger has revealed rogue actors at e-commerce partner @Shopify exposed 20,000 additional customer records, including emails, names, postal addresses and phone numbers. https://t.co/XLVf5gZnNO