MasterCard Opens CBDC Discussion 💳

GM. This is Degen Scoop. It’s Friday, here’s the scoop:

• MasterCard Opens CBDC Discussion 💳

• SEC to Greenlight ETH Futures 🚦

• Shibarium Sees $1.8M in Locked Funds 🔒

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

MasterCard Creates CBDC Forum For Industry Giants

MasterCard is making its move in the CBDC space by creating a forum for industry leaders. This forum will be utilized as a space for CBDC collaboration as more nations choose to pursue digital currencies. Forum participants include Ripple and Consensys amongst other names, but more are likely to join as CBDCs gain favor.

Alongside the efforts in collaboration, MasterCard hope that the forum will help to spur innovation in the space as CBDCs see increased usage. A digital future is very much inevitable, the question is when and how fast. MasterCard has been a frontrunner in this sector in that they created a card for users in the Bahamas to use their CBDC which was the first.

The SEC is Expected to Pass ETH Futures ETFs

The prospect of ETH futures received renewed interest yesterday once Valkyrie filed for their ETF. It has come out that the SEC intends to accept the applications. This is notable for one major reason: ETH by default will be recognized as not a security. While other tokens aren’t saved, the token of the largest smart contract chain will effectively be untouchable by the SEC.

While it’s not clear which ETFs will be accepted by the SEC, even one being accepted is all that needs to happen. Once an ETH futures ETF is passed, it helps to pave the way for a spot ETF down the line. That being said, we expect a spot Bitcoin ETF to come first.

Launch of Shibarium Results in $1.8M of Locked Funds

This past week saw the launch of Shibarium, a new L2 on Ethereum. There’s one issue: the funds are locked. One project dev claimed they can’t recover the bridged funds as you can see below. Needless to say, this is a terrible start for the project if not the cause of its death.

It’s also been observed that users on the project’s Discord have been blocked from posting message ever since the issues with the chain became noticed. Typical behavior of a quality project. Knowing that $SHIB was a major performer during the last cycle, the token’s weakness seems to have paved the way for both $PEPE, $BITCOIN, and other memecoins to make their own runs in the coming cycle.

Notable NFT Sales in the Last 24 Hours:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.