Crypto Daily Roundup, 15 Feb: Global market cap soars

Crypto prices have skyrocketed over the last 24 hours

Top 5 Gainers Coins

Crypto News Key Highlights:

• SEC Chair Gary Gensler's remarks on Bitcoin's economic differences ignite discussions on decentralized currencies' societal impact. SEC Chair Gensler noted big economic differences between Bitcoin and fiat currencies.Bitcoin's decentralization challenges traditional monetary concepts, emphasizing regulatory clarity. Amidst evolving regulations and societal shifts, embracing cryptocurrencies could reshape finance towards fairness and inclusivity.

• New Zealand Central Bank Governor Orr criticizes stablecoins, deeming them "misnomers" and "oxymorons." He cites concerns over their stability, rooted in reliance on private entities rather than central authorities. Orr advocates for traditional fiat currencies backed by governments and calls for smart regulations to preserve financial stability and trust.

• Justin Sun unveils groundbreaking Bitcoin Layer 2 solution, aiming to enhance blockchain interoperability. TRON plans to bridge $55 billion to Bitcoin network, injecting vitality into crypto landscape. Strategic roadmap includes cross-chain connections and collaboration with Layer 2 protocols to bolster Bitcoin ecosystem.

• Ark Invest, led by Cathie Wood, adjusted portfolios, selling Coinbase shares worth $35 million ahead of Q4 earnings. The move, amidst COIN price surge, raised speculation. Wood's firm also bought Tesla and Meta shares while offloading Robinhood and Nvidia shares, indicating strategic shifts in digital asset-related investments.

• Speculation mounts on Bitcoin ETF inflows, pitting Bitcoin against Gold. Kiyosaki predicts gold crash, favors Bitcoin. Bitcoin ETFs surge, Gold ETFs see outflows. Bitcoin encroaches on Gold's territory, signaling potential dominance. Analysts foresee fierce competition, reshaping safe-haven assets. Bitcoin's disruptive potential challenges traditional investment landscape.

• Ripple's XRP sparks debate on potential stablecoin status. McBride hints at World Bank's recognition. Analysts skeptical, citing XRPL's stablecoin plans. Wrath of Kahneman supports XRP stability. Ripple's focus on CBDC bridge currency speculated as reason for no stablecoin rollout. Debate on strategic direction continues amidst utility defense.

• Telefónica partners with Chainlink Labs to integrate Telco capabilities with blockchain using Chainlink Functions. This collaboration enhances Web3 data transmission reliability and security. The GSMA Open Gateway initiative further strengthens security protocols against SIM swap attacks, ensuring trust in decentralized networks through enhanced authentication and fraud detection.

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Also read- 24 Crypto Update, 14 Feb: BTC Climbs Above $52000 Threshold