Bankless ROLLUP: The Debate | 1st DeFi Congress Hearing | ENS joins PayPal/Venmo | Coinbase’s cbBTC
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Sep 13, 2024 This week in crypto, the first U.S. congressional hearing on DeFi shook things up. The integration of Ethereum Name Service with PayPal and Venmo is a game changer. Friend.tech's surprising move to abandon its keys leaves many questioning its future. Plus, Coinbase rolled out its new cbBTC, while discussions about Bitcoin ETFs spark contrasting opinions. Amidst all this, how will the markets react to political debates? The excitement continues as regulatory frameworks evolve and the crypto landscape shifts.
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ETF Flows and Sentiment
- Ethereum ETF flows have turned positive, breaking a streak of outflows.
- However, some analysts like Jim Bianco remain bearish, arguing ETFs are not attracting significant institutional investment.
Counterpoint on ETF Adoption
- Matt Hogan counters Jim Bianco's bearish view on Bitcoin ETFs, citing strong adoption by investment advisors.
- He argues that advisor adoption is the fastest in history for any new ETF.
Watch the Fed's Balance Sheet
- Don't just focus on rate cuts; watch the Fed's balance sheet for true easing.
- Balance sheet expansion alongside rate cuts signals easy money policy, potentially boosting crypto.