The takeaway:
Cryptocurrency exchanges are doing their best to gain increased legitimacy in the world of finance by hiring advocates with knowledge of Washington or taking their increasing valuations on to publicly traded stock exchange platforms. Meanwhile, the Federal Reserve’s decision today to maintain its fed funds rate may continue to drive more investors toward cryptocurrencies as the dollar continues to fall in value relative to other currencies. With low-rates expected through 2023, there is no end in sight for increased crypto valuations, although hiccups are expected along the way. This is not to say that crypto will maintain its hold on the digital currency space. Bitcoin, for example, is not truly anonymous, according to Digitex CEO Richard Byworth. If that is the case, does that give non-anonymous central bank digital currencies less competition in the future?
Also, cryptocurrency saw another fall in valuation as of 11:07 pm EST 17 March 2021.
To see what we’re following, follow the links …
CFTC should review crypto because it’s exploding: Baucus. https://www.bloomberg.com/news/videos/2021-03-12/cftc-should-review-crypto-because-it-s-exploding-baucus-video
Goldman, Citi lead U.S> banks plowing billions into China. https://www.bloomberg.com/news/videos/2021-03-17/goldman-citi-lead-u-s-banks-plowing-billions-into-china-video
Bitcoin may rise to $175,000 by year end. https://www.bloomberg.com/news/videos/2021-03-15/bitcoin-may-rise-to-175-000-by-year-end-diginex-ceo-video
Coinbase Global, the largest cryptocurrency exchange in the US, on Wednesday revealed that the company now has a valuation of $68 billion ahead of its planned direct listing due in large part to recent private transactions, Reuters first reported. https://markets.businessinsider.com/currencies/news/coinbase-ipo-valued-68-billion-ahead-direct-listing-bitcoin-cryptocurrency-2021-3-1030220737
Creator who sold NFT house for $500,000: “We’ll be living in an augmented reality lifestyle soon.” https://www.cnbc.com/2021/03/17/creator-of-first-nft-digital-house-krista-kim-on-augmented-reality-.html
Cryptocurrency exchange rates as of 17 March 2021 11:07 pm
BTC/USD=56,150.30 ETH/USD=1,771.60
BTC/EUR=47,097.80 ETH/EUR=1,485.99
BTC/GBP=40,364.90 ETH/GBP=1,273.55
BTC/AUD=72,505.00 ETH/AUD=2,287.61
BTC/CAD=69,904.10 ETH/CAD=2,205.55
BTC/CHF=51,975.70 ETH/CHF=1,639.89
BTC/JPY=6,124,550.00 ETH/JPY=193,236.00
BTC/CNY=365,010.00 ETH/CNY=11,516.50
Source: OANDA
18 March 2021 12:14 am EST
Alton Drew, Consiglieri 