Davide
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Davide
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molly.wiki
While cryptocurrencies were once viewed as a subversive financial instrument intended to be independent from governments, banks, or the traditional financial system, it’s become clear that the crypto world is deeply dependent on outside forces propping it up.
The crypto industry has gotten everything it could have dreamed of in the US after the elections, and yet the market has taken a dramatic turn for the worse. Bitcoin prices have been tanking, dropping more than 25% since the previous all-time high price, which was set on January 20. A 12% tumble last week became the new largest three-day drop since FTX exploded in November 2022.1 Although Trump has been hailed by the crypto industry as their knight in shining armor, and although he quickly got to work fulfilling the industry wishlist, prices have been on the decline since he took office. While cryptocurrencies were once viewed as a subversive financial instrument intended to be independent from governments, banks, or the traditional financial system, and although many in the industry still like to repeat that narrative when it suits them, it’s become clear that the crypto world is deeply dependent on outside forces propping it up. Earlier this week, crypto media outlet CoinDesk published a headline that would make Satoshi blush: “Crypto Market Faces Weak Demand, Needs Trump Initiatives to Kick In, JPMorgan Says”.2 (Satoshi inscribed into the first block of the bitcoin blockchain the text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”. This quote of that day’s Times headline has long been interpreted as a nod to bitcoin’s original ideology, and a rebuke of banks and government financial intervention.) And although many still describe bitcoin as “digital gold”, believing that it should serve as a hedge against economic turmoil in similar ways as some people view actual gold, bitcoin and other crypto assets are once again demonstrating that they are among some of the first assets to decline among broader economic uncertainty. With looming tariffs by the Trump administration against Canada, Mexico, and China, concerns from the Federal Reserve about those and other policies’ impacts on inflation, and continuing wobbles in the labor market, people are selling off risky assets like crypto in hopes of better weathering the economic storm on the horizon. The comparatively new bitcoin ETFs set new records for the highest single-day outflows on February 25, with investors withdrawing more than $1 billion in total from the eleven ETFs.3 Crypto Market Faces Weak Demand, Needs Trump Initiatives to Kick In, JPMorgan Says
March 3, 2025 at 1:12 AM
Reposted by Davide
runefar.bsky.social
I think that it will be possible that in a similar vein to how some fields of technology function and to a degree how many fields of science worked in the past; we may return to more decentralized models; but the flip side of this is ensuring the public trusts any science generated by such grants
February 24, 2025 at 11:45 PM
Reposted by Davide
pushalt88.bsky.social
4. DeSci (Decentralized Science)
-Research Hub
-Bio Protocol

Bio protocol is backed by Binance labs.
November 28, 2024 at 3:24 AM