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This year’s EU-Startups Summit will take place online – on April 28-30

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Due to the ongoing pandemic, it seems that large, international in-person gatherings will still not be possible again in April of this year (safety measures, travel restrictions, et.). We really wish this were different, but case numbers continue to go up and in many European countries the vaccine will likely not be available for most people before the summer…

The good news is that we won’t postpone the EU-Startups Summit any further, since we decided to host this year’s edition fully online. We won’t pretend we’re super excited to host it as an online event, since we would have preferred to meet all of you in person. But you can rest assured that we’ll do whatever it takes to make this year’s EU-Startups Summit as worthwhile and exciting as possible.

So, instead of a two-day offline event, this year’s EU-Startups Summit will be a three-day online gathering (April 28-30) providing you with a ton of opportunities for networking, learning and inspiration. More info about the updated agenda and new event highlights will follow soon. We’ll soon also re-open the application phase for our big pitch competition, and the finals will be held at the EU-Startups Summit.

The other good news is that everyone with a ticket for this year’s EU-Startups Summit, will also get a big discount of 60% for our next in-person EU-Startups Summit in May 2022 in sunny Barcelona!

The annual EU-Startups Summit is our main revenue stream, and we hope you’ll join us in April of this year online and potentially in-person in May of 2022. Luckily, most of our speakers already signalled that we can count on their participation for the online edition of the EU-Startups Summit. We hope we can count on you as well, and we’re looking forward to meeting you (online) on April 28-30!

You’d like to join us at this year’s EU-Startups Summit but you haven’t secured your ticket yet? Tickets are available here.

Source: https://www.eu-startups.com/2021/01/this-years-eu-startups-summit-will-take-place-on-april-28-30-online/

Blockchain

CBDCs Are Not That Stable And May Eventually Kill Bitcoin, Says Financial Expert

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Edward Chancellor – a British journalist and financial historian, explained that the first central bank digital currencies are likely to raise inflation which can lead to the destruction of Bitcoin. He agreed that CBDCs are ”cool” but certainly not stable.

CBDCs Would Mean The End Of BTC

Nowadays, many central banks of numerous leading economies such as China, Japan, and the US, are researching the option of launching their own CBDC. In a recent interview for Reuters, Edward Chancellor opined that central bank digital currencies are highly risky projects.

He said that CBDCs might even kill Bitcoin. Chancellor explained that it is much easier to distribute and ”print” digital currencies rather than cash, and that will cause an utterly high level of inflation.

He then added that in order to solve the issue, the governments and central banks would have to fix the emission of their digital coins – which number would be much higher than 21 million bitcoins:

”When banks get it right with CBDCs this will kill Bitcoin.”

The historian analyzed that changes in the form of money are normal and have happened multiple times in the past. As an example, he pointed to the paper money which once replaced metal coins. Chancellor predicted that in the process of the financial revolution, digital currencies would invade the world, but he opined that Bitcoin would not be among one of them.


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In conclusion, the journalist said that central bank digital currencies are ”cool” as a project but can not qualify as stable.

Deutsche Bank on CBDCs

Recently, the multinational investment banking giant – Deutsche bank – shared similar thoughts. The CIO of the German institution – Christian Nolting – predicted that CBDCs could damage Bitcoin’s role as a payment instrument. He also suggested that the primary cryptocurrency could serve as a store of value.

According to Nolting, the crypto industry is ”here to stay.” On the other hand, he warned that ”governments and more digitally-aware populations might ultimately prefer to go with CBDCs,” instead of relying on the decentralized nature of BTC. Furthermore, some potentially harming legislative frameworks developed by world regulators could reduce digital assets’ chances of serving as international payment instruments:

”A widespread introduction of CBDCs accompanied by higher regulation of cryptocurrencies could create a more challenging environment for crypto assets as some of their advantages compared to traditional financial assets would fade in the longer term.”

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Source: https://cryptopotato.com/cbdcs-are-not-that-stable-and-may-eventually-kill-bitcoin-says-financial-expert/

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Blockchain

Bitcoin Inflows into Crypto Exchanges Grasp a One Year High

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According to CryptoQuant, the amount of Bitcoin being deposited into crypto exchanges has reached a one-year high. Bitcoin is comparatively old tech but still the market leader. However, Ki-Young Ju, CEO of CryptoQuant, said the whales still sending coins to exchanges more than usual pose a potential sign that the bearish phase is not over for good.

BTC’s Dominance on the Market

The crypto has performed exceptionally well as traders have been sending more coins to exchanges than at any time since the March 2020 crash. Bitcoin remains the top leader among cryptocurrencies, with 42% of total market value.

Inflows to exchanges show the desire to sell BTC pressingly. Some may not divest themselves of their holdings for cash. They instead take a stablecoin position and then buy back in once prices stabilize. As such, outflows may soon start to rise as apprehensive investors join those “buying the dip.”

CryptoQuant’s CEO stated that if you’re a long-term $BTC investor, you should be calm as your portfolio is the same as institutional investors in the States.

If you’re a derivative trader, you should be cautious in the short term as whales are depositing $BTC to exchanges.

Bitcoin Whales are Piling

Inflows to exchanges tapped 30,000 BTC ($1.47 billion) on Thursday, while liquidations totaled $200 million in just one 10-minute period during the height of the price volatility.

According to an analyst, William Clement, yesterday was the largest day of exchange inflows since the March crash last year.

A few days ago, inflows into cryptocurrency funds and products hit a record $4.5 billion in the first quarter. According to Coinshare, this suggested increased institutional participation in the once-maligned sector.

U-turn on Tesla Payments

Tesla announced that the company would no longer accept the digital asset for payments, followed by rumors that an investigation of Binance by United States regulators was enough to send BTC/USD to lows of $46,000 before stabilizing.  

Elon Musk explained that the reason behind the decision was that Bitcoin mining was costly to the environment and needed to be more energy efficient.

Prices in the entire crypto market tanked soon after Musk’s announcement. Bitcoin descended by 19.2%, from $57k. At the time of writing, Bitcoin is trading at $50,676.

Still, not all Bitcoin whales are selling as CryptoQuant statistics showed 10,044 BTC leaving Coinbase on May 13th. The Bitcoin, worth about $0.5 Billion, was purchased at an entry price of $49k. This purchase suggests that the $52k to $46k price zone is another possible area of accumulation by Bitcoin whales optimist for another spike.

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Source: https://btcmanager.com/bitcoin-crypto-exchange-one-year-high/

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Blockchain

XRP lawsuit update: SEC claims Ripple execs were aware of their ‘wrongful’ offers

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The SEC v. Ripple lawsuit is inching ahead with every passing day. Right after Ripple filed its Memorandum of Law in opposition to the SEC’s motion to strike on Thursday, the regulatory body reverted back with its own Memorandum of Law, one requesting the court to deny the individual defendants’ motions.

In the same, the SEC alleged that Ripple executive Chris Larsen “approved and directed” Ripple’s unregistered offers and sales of XRP. Claiming that he personally promoted XRP as an investment with an expectation of profit from Ripple’s efforts, the SEC asserted that Ripple’s exec was aware that Ripple’s offers of XRP were “investment contracts.”

According to the regulatory agency, Larsen was aware that such offers and sales could be “wrongful under certain circumstances.” It added,

“The Complaint pleads that Larsen was aware of his overall role in Ripple’s illegal distribution, that his own financial interests were aligned with Ripple’s interests and that he took steps to further them.”

As for Ripple CEO Brad Garlinghouse, the SEC alleged that he treated XRP like an investment and was incentivized to increase XRP’s trading price and volume. According to the same, Garlinghouse “understood the nature of the asset” and made extensive sales to “monetize” his compensation. The aforementioned submission also blamed the execs for violating Section 5.

The execs, in the SEC’s opinion, have been making “meritless arguments” in their own submissions.

In its latest filing, the SEC also reiterated an argument it had made previously, namely, “Knowledge means awareness of the underlying facts, not the labels that the law places on those facts.”

The defendants, the SEC finally argued, engaged in domestic offers and sales of securities that “failed to comply with regulations.” According to the SEC, the defendants and Ripple Labs made extensive “offers” of XRP to U.S investors through marketing statements on Ripple’s website, Twitter account, and YouTube channel, and U.S based finance programs, while also pointing out that they had discussed the risks and potential rewards of buying XRP.

Larsen, on the contrary, has previously argued that the SEC had not provided guidance in the digital asset space prior to 2017. The SEC, however, clarified that the claims for monetary compensation against Larsen were “timely” for conduct between 1 September 2015 to the date of filing the complaint. It argued,

“Larsen “explicitly acknowledged” that he was running risk that he would be considered the issuer of securities by the SEC in exchange for significant financial compensation… Larsen committed a discrete violation of Section 5 with each unregistered offer and each unregistered sale.”


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Source: https://ambcrypto.com/xrp-lawsuit-update-sec-claims-ripple-execs-were-aware-of-their-wrongful-offers

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