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Recap: Cryptowinter, NFT Instagram, DeFi institutional…

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L’cryptowinter is difficult for DCG, Dapper Labs y Coinbase; UBS launches a bonus of a new type; the Bank of France tries the DeFi; Instagram becomes NFT Market. Back to news of the week.

Global warming may be more topical than ever, but in crypto. winter which is de rigueur. And it is proving to be especially strong after two sunny years. This week alone, several major players have announced restructurings.

For CoinbaseCryptowinter is initially synonymous with falling revenues. The $2.5 billion in revenue by the end of 2021 already seems far away. Over the past 3 months, the stock market has recorded a 576 million. The Decline steepens through 2022.. The news is no more positive for Business Protocol, Dapper Labs, Digital Galaxy y DCG. However, the picture is not all black. For example, the situation is not all bad, Fidelity sees a resurgence of interest in cryptocurrencies among institutional investors.

A bonus on blockchain and the TradFi market.

UBS is proud of its announcement. The Swiss bank simply claims a world first. The institution boasts the launch of a 100% digital bondOn the issuance side, with profits to be made.

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But this 375 million Swiss francs has other special features. It will be listed and traded on the blockchain platform (SIX Digital Exchange or SDX) and on the “traditional” exchange SIX Swiss Exchange. Settlement is done on the SDX CSD, and will be “instantaneous and automatic”. No more central counterparty clearing.

Musk tides over Dogecoin

Barely in front of Twitter, Elon Musk Is already taking advantage of this to excite the community. Dogecoinhave long been sensitive to the billionaire’s tweets and cryptocurrency holder. DOGE jumped up again after Musk tweeted a photo of a shiba inu dog with a Twitter t-shirt.

In the previous week, the the same corner doubled in value. Since then, the wind has died down a bit. Dogecoin remains a very volatile token, like Tesla CEO’s moods and tweets.

Instagram offers NFT kit to creators.

Meta has chosen Instagram to multiply the experiments and developments on NFT. The social network is thus the first to welcome new features. This is the case again this week with the availability of a comprehensive management tool for non-fungible tokens. for use by creators.

The application therefore allows them to mine, i.e. create and sell their NFTs, either directly on the platform or on a third-party service. The pilot starts in the U.S. with a small circle of users and on the blockchain Polygon. Then, if the test is successful, Meta will extend it to other countries, as already happened in 2022 with the exposure function.

DeFi’s future for institutions

“I’m not sure that Web3 developers today would want to work for the Bank of France “A private banking executive, at a conference, who is committed to change, said. crypto. This is not so sure considering the innovative experiments being carried out at these institutions, such as the Guardian o Mariana.

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If the DeFi Intriguing and challenging regulators and legislators, the central banks They are, however, beginning to be taken up as part of their explorations of the CBDC. MAS (Monetary Authority of Singapore) has achieved its first success with Guardian. It conducted its first live transactions. These transactions consisted of trading foreign exchange and government bonds in liquidity pools. The BdF is preparing to conduct similar pilots through Mariana, a BIS-led project.

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