Bitcoin touches $29K! Why BTC is unaffected by regulatory pressure

In this week’s occurrence of Market Talks, Cointelegraph welcomes Brent Xu, laminitis and CEO of Umee — a decentralized concern hub built connected the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy astatine Tendermint portion mounting the strategical roadmap and partnerships for the Cosmos Ecosystem.

We commencement things disconnected with our main taxable for today: Bitcoin (BTC) touched $29,000, a caller precocious for 2023, contempt caller United States regulatory crackdowns connected crypto firms and related uncertainty. This could besides suggest the crypto marketplace does not look excessively bothered astir the Commodity Futures Trading Commission’s lawsuit against Binance and its CEO Changpeng “CZ” Zhao. Even the Crypto Fear & Greed Index — which aims to numerically contiguous the existent “emotions and sentiments” toward Bitcoin and different ample cryptocurrencies — has been steadily expanding implicit the past period contempt wobbles successful the planetary banking sector. What does each this truly mean for the crypto space, though? Should investors not beryllium truthful disquieted astir regulations?

This week Saudi Arabia, Kenya, Pakistan, Russia, India and Brazil decided to settee commercialized successful their ain currencies alternatively than the United States dollar. Why person they decided to bash this, and volition it person a important interaction connected the U.S. and the dollar? Will determination beryllium immoderate ramifications for the crypto space, if any?

We inquire Xu what his imaginativeness is for however DeFi protocols and crypto exchanges mean to physique retired their ain banking services successful the future. Centralized crypto exchanges are nether each sorts of unit from regulators astatine the moment, yet we inactive spot Fidelity Investments expanding its offerings, and Nasdaq is getting adjacent to launching its crypto custody platform. We besides get Xu’s thoughts connected Fidelity Investment’s caller expansion.

There is simply a batch going connected astatine the infinitesimal arsenic acold arsenic regulations successful the crypto abstraction are concerned, mostly cracking down connected the crypto sector. We inquire Xu what his semipermanent imaginativeness is for the aboriginal of the regulated crypto abstraction successful the United States.

The United States Federal Reserve seems to beryllium successful an unending combat against inflation. The involvement complaint hikes don’t look to person an extremity successful show either. Is the Fed losing its fight? At what constituent volition we spot a intermission successful involvement complaint hikes, and however realistic is it for the Fed to execute its objectives for this year?

We screen each this and more, truthful marque definite to enactment tuned until the end. Market Talks airs each Thursday astatine 12:00 p.m. ET (5:00 p.m. UTC). Each week, it features interviews with immoderate of the astir influential and inspiring radical from the crypto and blockchain industry. So, caput connected implicit to Cointelegraph Markets & Research’s YouTube page and smash those Like and Subscribe buttons for each our aboriginal videos and updates.