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Janet Yellen goes after Bitcoin?! - CRYPTO FRIDAY

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Janet Yellen goes after Bitcoin?! - CRYPTO FRIDAY

Fabian Klauder
Jan 22, 2021
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Janet Yellen goes after Bitcoin?! - CRYPTO FRIDAY

newsletter.defitimes.io

Hey DEFI TIMES community,

Treasury Secretary nominee Janet Yellen was interviewed on Wednesday. 

Yellen is known for appearing in the famous "Buy Bitcoin" photo.

One of the questions in the interview involved Bitcoin. 

As you can guess, she wasn't very positive about it. She said that cryptocurrencies were mainly used for "illicit financing" and suggested that lawmakers should "curtail" Bitcoin use. You can listen to it yourself.

Twitter avatar for @DocumentBitcoin
Documenting Bitcoin 📄 @DocumentBitcoin
Treasury nominee Yellen says cryptocurrencies like #Bitcoin are of particular concern.
Image
6:12 PM ∙ Jan 19, 2021
476Likes120Retweets

For me, this is just another sign that regulators are going to give us a hard time. In last week's CRYPTO FRIDAY edition, we talked about Christine Lagarde claiming that Bitcoin was mainly used for money laundering.

Both Lagarde and Yellen are dead wrong. In fact, they couldn't be further from the truth. Only 0.5% of all Bitcoin transactions have been spent on the dark web. 

Last week we also talked about the famous quote by Mahatma Gandhi:

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

Yellen's negative comments are another confirmation that we are currently in the fighting phase. Big regulators, especially leaders of the central financial system, are increasingly going after Bitcoin.

Don't expect this to stop. The fight will become worse, and it will be brutal. But in the end, the best form of money will win. 


Subscribe to our newsletter to level up your crypto game!


Synthetix Optimism transition

Twitter avatar for @kaiynne
kain.eth @kaiynne
Check out the transition plan for Synthetix migrating to OΞ.
blog.synthetix.ioThe Optimistic Ethereum TransitionWith the launch of Optimistic Ethereum (OΞ) mainnet in a few days we are entering a new era for the project, OΞ presents an opportunity to scale the protocol but it also presents a number of challenges. One of the most critical is how to gracefully transition from L1 to a protocol running on both L1…
4:20 AM ∙ Jan 14, 2021
680Likes149Retweets

Synthetix has released its plan to migrate to the L2 solution "Optimism". Just like ETH 2.0, Synthetic will also migrate in several steps. The first step involves:

- One-way SNX bridge from L1 to L2 including escrowed SNX

- SNX & sUSD will be non-transferrable on L2

- Minting of non-fungible sUSD

- Claiming of SNX (funded via the sDAO)

YAM ends rebase

Twitter avatar for @YamFinance
Yam Finance @YamFinance
To All YamV2 Holders. Yam.Finance will be ending the migration function on 2/15/2021 00:00 UTC. Yam has also ended the rebasing function of the token. The supply is no longer elastic. Migrating 1 YamV2 will return 2.5 Yams. yam.finance/migrate @HuobiGlobal
yam.financeFarm YAM tokens.For the YAM farming community.
8:15 PM ∙ Jan 15, 2021
33Likes6Retweets

YAM ends its rebase functionality. From now on, it will focus solely on the YAM ecosystem.

Optimism mainnet

Twitter avatar for @optimismPBC
Optimism @optimismPBC
Our knees are weak and our palms are sweaty, but Optimistic Ethereum is finally ready.
11:23 PM ∙ Jan 15, 2021
1,779Likes456Retweets

Optimistic rollups are now on the mainnet. Optimism hasn't rolled out all features yet. However, this is a big step in the right direction: a scalable Ethereum ecosystem. Optimistic rollups are currently the most promising L2 solution. This news could be a gamechanger for the whole DeFi ecosystem.

Furucombo integrates SushiSwap

Twitter avatar for @furucombo
FURUCOMBO @furucombo
We are very pleased to announce our partnership w/ @SushiSwap 🍣 The partnership will be a huge milestone for us as it'll be the first cube that is built by the non-Furu team! We believe that our synergy will bring tremendous value to both of our users!🥢go.furucombo.app/zB3of
go.furucombo.appAnnouncing Furucombo and SushiSwap PartnershipSushiSwap is an automated market-making (AMM) decentralized exchange (DEX) currently on the Ethereum blockchain. It’s a community-run project that is governed by the vote of the community for all…
8:09 AM ∙ Jan 20, 2021
394Likes80Retweets

Furucombo is now partnering with SushiSwap. They will soon integrate SushiSwap's Automated Market Maker into their platform.

Cointelegraph fake news

Twitter avatar for @aantonop
Andreas M. Antonopoulos @aantonop
In case it needs to be said: no double spend happened. Some very bad reporting full of incorrect information happened, but that's a common occurrence. A block was reorganized, that's also a common occurrence.
12:59 PM ∙ Jan 21, 2021
3,110Likes770Retweets

Cointelegraph published an article with false claims about a double-spend attack on the Bitcoin blockchain. The news was spread by a BSV user. 

After the article was released, Andreas Antonopoulos invited his followers to boycott Cointelegraph.

Twitter avatar for @aantonop
Andreas M. Antonopoulos @aantonop
I hope more people doing honest work in Bitcoin and other blockchains boycott @Cointelegraph This is not the first time they have published irresponsible clickbait that is poorly sourced and contains misinformation. They do a disservice to the entire industry.
1:34 PM ∙ Jan 21, 2021
2,310Likes428Retweets

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All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.


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Janet Yellen goes after Bitcoin?! - CRYPTO FRIDAY

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