The R Roundup: Bored Ape Yacht Club x CryptoPunks — Issue #27
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In the interesting world of JPEGs, we have seen what was almost an unthinkable move by dominant NFT project Bored Ape Yacht Club as they expressed via YUGA LABS the purchase of CryptoPunks and Meebits.
Seeing Bored Ape Yacht Club expand their hand across the NFT space should fill all apes with confidence however amid this news were concerns regarding the proposed KYC for their recent collaboration with Animoca Brands.
Could this be a turn in the decentralisation of NFTs considering the response from many passionate Ape holders was certainly against the said proposal?
₿itcoin ATMs Declared Illegal ⛔️🇬🇧
Earlier this week, the news broke that Bitcoin ATMs in the UK have been ordered to shut down after being declared illegal.
An estimated 81 Bitcoin ATMs have received dialogue from the FCA (Financial Conduct Authority) updating providers they need to “cease operations or face enforcement action”.
Bitcoin ATMs have been a means of allowing users to deposit cash for $BTC which can then be transferred to desired wallets however regarding the lack of minimal background checks the FCA has concluded that to comply with the UK money laundering regulations.
On-Chain Update⛓: OpenSea Volume Capitulation 🎨
On many occasions we have referenced NFTs as a hot trend in the crypto-economy however amid uncertain market conditions, the Opensea volume has taken an interesting turn.
An interesting metric as this chart expresses the connection between the OpenSea volume which has seen a 72% drop from $250m to around $70m. The correlation between the NFT interest which has been drawn from google trends could also confirm that perhaps public interest has slowed down for our beloved JPEGs.
President Biden Issues Crypto Executive Order🇺🇸
For some time there have been utterances of an executive order coming out of the Whitehouse regarding the digital asset class and this week we saw that unfold.
America has been seen as a key player in the development of the crypto-economy with the SuperBowl ads and many different senators having conflicting opinions it felt like it was only a matter of time till we saw the issue become too big to ignore.
Interestingly, Biden’s response was quite dovish and there was no announcement of further regulations however there was a consistent tone throughout which expressed America’s intentions with digital assets.
You can find the executive order here 👉 https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/
DEGEN GALLERY OF ART OFFICIAL LAUNCH: MARCH 22ND 2022 🗓
The time is coming closer for the launch of our community gallery! We have put together the RRAFFLE which you can STILL secure your tickets for NOW!
This is not something you will want to miss. Invaluable knowledge in the prizes put together by The Russian Roundup to celebrate the community and express our creativity!
Secure your ticket now via our telegram chat👉https://t.me/RussianRoundupChat
As a reminder this is not a trading signal, it is an opinion and each trader/investor should know and understand the risks attached with trading. At no point should this be regarded as financial advice
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