🚀Fancy bidding for a piece of Bitcoin art?

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🚀Fancy bidding for a piece of Bitcoin art?

How has your week been, Geckos?

 

In the past few months, the power of DeFi has become a force to be reckoned with. Permissionless and decentralized, anyone can interact with the various protocols that have mushroomed all over the scene. So much so that the DeFi space may have raised some eyebrows over at Big Brothers and co.

 

A joint research paper by global management consulting firm BCG Platinion and Crypto.com (CRO) has shown that DeFi's exponential growth has "made it ripe for money laundering".

 

The paper elaborated that the potential for the space to be abused for money laundering would draw attention from regulatory authorities.

 

Ironically, this "money laundering" argument was the very same one that was raised for Bitcoin, the Internet, heck.. even pigeons! (Editor: Banking Execs all over the world be like: "Please look away from us and our 2 Trillion Dollar money laundering ops")

 

In today's newsletter, we will be talking about a pretty pricey NFT, Gemini and an AMM for data?

 

Read on!

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To the yield farmers out there, we've heard what you had to say!


The yield farming craze has taken over CoinGecko and we wanted to find out what makes you guys go full degen over yield farming.


With interesting insights from the community, we've pulled out all the stops to provide you our most informative report on the yield farming scene.


Check out our Yield Farming Survey Report here!

NFT for Auction at Christie's

 

Christie's will be selling their first non-fungible token (NFT), which is part of the largest artwork in the history of Bitcoin (BTC).

 

The segment is from 'Portrait of A Mind' - a series of paintings which captures all 12.3 million digits of Bitcoin's original code.

 

'Block 21' of the series, which includes the unique fungible token, would be offered at an approximate value of $12000 to $18000.

 

CoinTelegraph

Gemini Arrives in The UK

 

Crypto exchange Gemini has gained the approval of the Financial Conduct Authority (FCA) to operate in the UK.

 

It has attained a license as an Electronic Money Institution.

 

For consumers in the United Kingdom, GBP can now be deposited into their Gemini accounts via Faster Payments, CHAPS, and wire transfers.

 

DeCrypt

Balancer & Ocean Team Up For Data AMM


Ocean Protocol (OCEAN) is partnering with Balancer to produce the first automated market maker (AMM) for data.


Trent McConaghy, the founder of Ocean, said "So our goal is to unlock this data economy with data marketplaces, connecting the buyers and sellers of data,"


The protocol creates the data tokens which can represent any dataset - such as DNA or population statistics - which will act as an on-ramp to the actual data which is stored off-chain. 


CoinDesk

Difficulty

In the context of Bitcoin's proof-of-work system, the difficulty is a relative measure on how difficult it is to correctly guess a new block though the mathematical equation performed. In Bitcoin, the difficulty is adjusted periodically based on the amount of hashing power (computing power) on the network.


Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free. DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joinLearn about other Crypto terms here

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