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In this episode, Brendan McShane discusses Coinbase purchasing $500M in crypto and their future of purchases, mayor giving away BTC, tokenization of cattle, and the 200% increase in AVAX.
“Coinbase is ready to purchase $500 million worth of crypto on its balance sheet”
On top of the $500 million purchase of crypto, Coinbase will be investing 10% of all future profits in cryptocurrency. They will be the first publicly traded company to hold Ethereum PoS and other DeFi altcoins.
“Missouri mayor suggests giving residents up to $1K in Bitcoin”
The Mayor of Cool Valley is suggesting giving $1.5M of worth of Bitcoin it its 1,500 residents. The residents will be required to hold the Bitcoin for 5 years. This will be coming from the federal governments pandemic relief fund for the town.
“‘A16z Leads Yield Guild Games $4.6 Million Investment Round”
A16z's new chairman stated, "There is a large untapped economic opportunity in emerging markets to provide jobs by building a virtual economy in the digital world. The way we define "job" is quickly evolving because of crypto and gaming."
“Tokenization of Cattle is Proving Real-World Blockchain Use”
Finka Token is looking to tokenize their 3,200-hectare ranch La Padera in Bolivia. The owner of one of the ERC-20 tokens will have claim to the top-line revenue of the ranch. This a new alternative investments for investors to have a stake in beef prices. It also helps the ranch reduce their financial risks.
“3 reasons why Avalanche (AVAX) price is up 200% this month”
First, Avalanche Rush launched on Aug 18th promising to invest $180M into Avalanche's DeFi ecosystem. Second, the Avalanche-Ethereum bridge makes it easy for users to move their WETH over to the Avalanche blockchain. Third, transaction burning of AVAX tokens decreases the supply of tokens over time.
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