Blockchain Bites: Ripple’s Case, SushiSwap’s Migration, Ether’s Bears
A DBS Bank economist thinks the coronavirus pandemic will accelerate digital asset adoption, Mastercard announced a CBDC testing ground and SushiSwap has a temporary governance structure in place.
Top shelf
Digital adoption
Singapore-based DBS Bank thinks the coronavirus pandemic may speed adoption of digital assets, according to a quarterly report filed in August.
“Post-pandemic [investing] is beyond speculative. It’s more about, ‘This thing has fixed circulation, it will not be debased.’ People are worried about dollar outflow and wondering if they should hold crypto in addition to gold as a safe-haven currency,” DBS Chief Economist Taimur Baig told CoinDesk.
Baig also noted how cryptocurrencies can help to understand the dynamics of dollar-pegged currencies, while blockchain-tied CBDCs are another front in the politicized battle between the U.S. and China, CoinDesk’s Ian Allison reports.
Ripple scams
Ripple has contested YouTube’s claims that it knew nothing about the XRP “giveaway” scams, in an attempt to keep its ongoing court case against the platform on the docket.
In a motion filed Tuesday, responding to YouTube’s attempt to dismiss the suit, Ripple said it sent 350 takedown notices to YouTube regarding XRP scams using its logo and likeness of CEO Brad Garlinghouse to extort millions from unsuspecting investors.
YouTube is accused of “willful blindness,” with Ripple alleging it disregarded or ignored explicit warnings about the scams happening on its platform,” CoinDesk report Paddy Baker said.
Trade war?
Crypto firms and investors may avoid the brunt of the trade war between China and the U.S. In recent months sanctions employed by both countries have interrupted the flow of capital between the nations’ tech industries affecting non-crypto startups.
Decentralized ownership structure and unique fundraising models makes crypto projects immune to geopolitical risks, said Sharlyn Wu, chief investment officer at Huobi.
Jump Trading, Paradigm and Pantera are among the U.S.-based firms that successfully invested in Hong Kong crypto startups, while Hashkey participated in BlockFi’s Series C.
Read the full topic at
https://www.coindesk.com/blockchain-bites-ripple-sushiswap-ether
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