Content:
Please Sir, Can I Have Some More?
Personal Journey Update
Weekly Fact
Quote of the Week
Please Sir, Can I Have Some More?
BlackRock, the world's largest asset manager, is contemplating a significant expansion of its Bitcoin investment portfolios, foreseeing substantial upside potential for the cryptocurrency. Rick Rieder, BlackRock's Chief Investment Officer of global fixed income, recently shared insights on the firm's evolving stance on Bitcoin. Here's a breakdown of the key highlights:
Key Points:
Potential Bitcoin Expansion:
BlackRock is considering increasing its Bitcoin holdings.
The firm acknowledges the cryptocurrency's growing role in the investment landscape.
Rieder highlighted the importance of providing accessible avenues for investors to engage with Bitcoin.
He emphasized the potential for significant growth as investor confidence in the asset strengthens.
Rising Interest in Cryptocurrency Vehicles:
BlackRock's contemplation coincides with a broader trend of rising interest in cryptocurrency investment vehicles.
The firm has already taken proactive steps in this direction by launching a spot Bitcoin ETF Fund, managing over $3 billion worth of the digital currency.
Spot ETF Approvals:
The recent approval of bitcoin exchange-traded funds (ETFs) has further fueled interest in cryptocurrency investments.
BlackRock and Fidelity have surged into the top ten largest US ETFs by asset inflows, collectively attracting $6.39 billion in Bitcoin.
Grayscale Bitcoin Trust Outflows:
Despite the surge in spot ETFs, Grayscale Bitcoin Trust ETF (GBTC) has experienced significant outflows.
Totalling over $6.8 billion since the spot ETF approvals.
CEO's Optimism:
BlackRock's CEO, Larry Fink, expressed optimism about Bitcoin's expanding adoption and the company's role in democratizing investing.
Fink emphasized BlackRock's commitment to providing straightforward and accessible investment options for clients.
Personal Thought:
Not financial advice,
but the more these big guys buy Bitcoin, the harder it will be for the little guy to buy any.
With Bitcoin’s limited supply and with usual supply and demand mechanics that usually only means one thing.
Binance’s Anti-Insider Trading Initiative
Binance has rolled out a groundbreaking initiative aimed at combating insider trading and unauthorized information leaks. Spearheaded by Binance's co-founder, Yi He, this initiative offers a $10,000 reward to employees who unveil instances of unethical behaviour within the organization.
Key Points:
$10,000 Reward Program:
Binance's co-founder, Yi He, has introduced a reward program offering a minimum of $10,000 and up to $5 million to employees who uncover insider trading or unauthorized information leaks within the organization.
No-Tolerance Policy:
Yi He emphasizes a strict no-tolerance policy towards employees found disclosing confidential information. Violators will face termination after receiving a preliminary warning.
Proactive Safeguards:
In response to unusual trading patterns observed with the Ronin token, suspected to be due to premature information leaks, Binance has implemented rigorous safeguards. Crypto listings affected by leaks are promptly cancelled or postponed, underscoring the platform's commitment to upholding market integrity.
Industry-Wide Battle:
Binance's initiative mirrors the broader industry's ongoing battle with insider trading, reminiscent of the scandal that rocked Coinbase. Former Coinbase employees misused privileged information for personal financial gain.
Cultivating Integrity:
Through incentivizing whistleblowers, Binance aims to foster an environment of integrity and transparency among its staff. This initiative underscores Binance's commitment to leading by example in market fairness and may set a new standard for ethical practices within the global cryptocurrency market.
Personal Thoughts:
I think this is a great way to weed out any unwanted unfairness Binance employees are creating on their exchange.
The current lawsuits Binance is facing with US regulators might have something to do with why this program has been set up. Binance hopes that these types of actions will probably help them in court.
ENS Collaborate with GoDaddy
Ethereum Name Service (ENS) and GoDaddy have joined forces to revolutionize web domain linking with blockchain names. Here's what you need to know:
Key Points:
Integration of Traditional DNS with ENS:
ENS and GoDaddy are teaming up to link domain names to blockchain-based ENS names.
This integration aims to seamlessly connect the DNS protocol used by traditional websites with blockchain-based names, eliminating the need for extra costs or technical knowledge.
Bridging the Gap:
The collaboration seeks to bridge the gap between traditional DNS and blockchain technology, ensuring a smooth transition for users.
Over 20 million GoDaddy users will gain access to ENS blockchain infrastructure benefits, including the ability to receive crypto payments.
ENS Functionality:
ENS is the most widely used naming protocol in crypto, enabling users to associate human-readable names with complex Ethereum addresses.
Users can now connect their domain (e.g., .com) to their ENS-compatible crypto wallet, simplifying crypto payments.
Streamlined Interaction:
According to Nick Johnson, founder of ENS, pairing ENS names with GoDaddy domains will streamline user interactions with web domains, merging DNS familiarity with blockchain technology's potential.
Addressing Barriers:
New smart contracts deployed by the collaboration address previous barriers like high gas fees, offering cost-free DNS to ENS domain linking and facilitating a smoother transition process.
Ongoing Efforts:
ENS continues to bridge with the traditional web, with ongoing efforts such as adding support for (.box) domains functioning like standard internet domains.
Personal Journey: Realising Improvements
So I had my first leadership program lesson this week.
Although it was online, in the past I usually get nervous about things like this.
I didn’t even realise until a couple of days after the lesson but I recognised that I had no worries going into that situation at all.
Recognising improvements in yourself is just as important as recognising when something needs improving. If you don’t recognise improvements how can you judge that what you’re doing is working?
I believe this elimination of nerves is from a steady amount of experiences in situations that make me nervous or at least anxious.
It’s something I’ve been trying to improve for a long time. It’s like an irrational fear where the only way to overcome it, is to face it. That’s why I have been accepting invites and putting myself forward to experiences I know will make me uncomfortable.
The habit of dealing with nerves makes it easier every time.
Humans find comfort in habit, so if you make a habit of putting yourself in beneficial but uncomfortable situations, they’ll soon become a routine in which you’ll find comfort.
Weekly Fact
The name Google was created accidentally.
The name Google was created accidentally, it was originally supposed to be named ‘Googol’. (Googol is the digit 1 followed by 100 zeroes).
The founders checked to see if that domain name was taken, but accidentally searched for ‘google.com’ instead of ‘googol.com’. They liked that name even better and registered the domain name on September 15, 1997.
Quote of the Week
Let me know any ways you think this newsletter can be improved.
Also, feel free to drop your newsletter links down below, I’m always grateful for more inspiration.