Weekly Roundup 07/08/22 (Voyager files for Chap. 11, 3AC files Chap. 15, EU agrees on MiCA regulation) (EP.333)
On The Brink with Castle Island
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Cryptocurrency Capitalization Is Down 60, 70 %
Stable coins represent around 14 % of all outstanding sort of crypto capitalization. So there's a lot of cash sitting there waiting for a narrative. It is objectively a better payment rail than using just any a c h denominated payment. The final leg back into fiat is not occurring, and cryptoperms are still staying in stables.
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