The Brief for August 31, 2020

Wow! What a month. The crypto market gained another $30 billion after a $70 billion bump in July. What will September bring?

Read below for two interesting articles.

• Cryptowriter: Circle Center Consortium Launches USD Coin Version 2.0

  • Bottom line: you will soon not need ETH gas to send USDC, the #2 stablecoin.

  • My take: brilliant move. It’s annoying to have to keep ETH in your wallet simply to move your stablecoins, and the extra step makes it hard for no-coiners and banks.

  • Why we care: if you want lots of people using crypto, you need it to be easy and/or familiar. Gasless USDC gives people a tap-and-go experience they can port to any wallet without ever touching Ethereum.

• Congress Asks White House For Briefing On Largest Crypto Seizure Ever From Terrorists

  • Bottom line: Some members of Congress want to learn more about how anti-U.S. groups got $2 million in bitcoin and how the Department of Justice busted them.

  • My take: Much ado about nothing. The real work happens behind the scenes, and we will never know about it until a bill goes to the committee for review and amendment.

  • Why we care: because people think these things matter when they don’t. Once we have actual legislation, then we can worry about these things.

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