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Coinbase Launches 14-Month ‘Stand With Crypto’ Initiative to Lobby US Lawmakers on Digital Assets

Coinbase, the leading US cryptocurrency exchange, is launching a 14-month lobbying effort to convince D.C. lawmakers to pass clearer regulations for digital assets.

According to a new blog post, Coinbase’s “Stand With Crypto” initiative includes several strategies, such as asking tens of millions of Americans who own digital assets to contact their representatives and advocate for pro-cryptocurrency laws.

“We are asking more than 52 million cryptocurrency owners and advocates to use their voices to defend cryptocurrencies. Stand with Crypto Alliance is doing this through a 14-month campaign that will have three elements:

  1. Leverage the Coinbase platform to mobilize cryptocurrency owners and turn them into cryptocurrency advocates with a single issue. Since Stand with Crypto was formed just a few weeks ago, over 100,000 people have already taken action through the decentralized app Stand with Crypto (accessible through the Coinbase app).
  2. A comprehensive paid media campaign across all platforms, including launching digital ads and billboards in Washington, D.C. today. to show what will be distributed nationwide.
  3. The campaign will specifically focus on nine key states that are also overindexed with respect to the number of cryptocurrency owners, including local organizing with full-time field organizers, in key states. In recent weeks, Stand with Crypto has hosted successful events in Ohio, Nevada, Georgia, and Montana that tested its ability to organize cryptocurrency advocates.

The overall effort to mobilize the 52 million Americans who own cryptocurrency will include an intense focus on the following states: AZ, CA, GA, IL, NH, NV, OH, PA, and WI. While we will share more about each state, in Georgia we will look to build a crypto club of at least 11,779 members.”

In June, the US Securities and Exchange Commission (SEC) sued Coinbase for allegedly “operating as an unregistered securities exchange, broker-dealer, and clearing agency.” The case is ongoing.

Coinbase said in a recent blog post that the SEC is taking an enforcement-only approach to the crypto space and this is “costing the US millions of jobs and creating opportunities overseas.”

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Institutions Are Moving Into Cryptocurrencies: Retail Investors Beware

As the queue for a bitcoin spot ETF grows longer, institutions are acutely aware that the time to finally get into bitcoin is drawing near. Are retail investors equally aware?

Will cryptocurrencies fall sharply?

A casual glance at cryptocurrency on Twitter or any other social media channel is enough to “confirm” that bitcoin and the cryptocurrency market are going to drop sharply and hit lows again or even go beyond them.

Rottweiler Gensler and his Securities and Exchange Commission (SEC) may have had some disappointments in their attacks on some of the biggest players in the crypto space, but the regulatory web is catching up and surely crypto can be stifled. enough to stop them in their tracks. …accompany and allow the legacy monetary system to continue its dominance without restriction.

Institutions are not stupid

However, Wall Street may be crooked, but money goes to money and institutions have finally realized that getting into Bitcoin is a no-brainer.

Of course, the likes of Blackrock and its other giants could find some way to try to manipulate bitcoin, just as gold and silver banks have done decade after decade.

Relatively small positions in the futures markets are leveraged to go short and force the price down, allowing banks to buy at lower prices and then rinse and repeat, year after year after year.

However, Bitcoin is a different animal, and manipulators should be careful, as their paper positions, with no ties to the underlying asset and cash-settled, are likely to be wiped out as Bitcoin is steadily bought.

The stars are aligning

Wall Street shenanigans or not, these institutions are still coming, and the SEC being forced to award the cash ETFs could come at the same time the US presidential race gets serious—and just right. when Bitcoin approaches its halving.

A monetary policy easing from the Fed and a bitcoin supply shock are potential factors in a bitcoin price explosion that will take the number one cryptocurrency to the top of its next cycle, perhaps in 2025.

Retail investors may be forced to pull out

No doubt retail is suffering badly as consumer prices remain unbearably high, house prices are falling, mortgages need to be refinanced (in the UK) at what could be 2-3 times current rates and jobs are declining as fast as AI. it is improving.

Bitcoin was created as an alternative asset to fiat currencies, which are controlled by central banks in our indebted monetary system. The mainstream media wants us to believe that all cryptocurrencies will eventually go to zero, and many of them could, but the reality is that “all” fiat currencies will go to zero and there is absolutely no question that this has to happen. mathematically.

On the other hand, Bitcoin is probably totally unstoppable right now. Holding $BTC and averaging is perhaps a good way to go. Time horizons should also be long, as widespread adoption may still take a few years.

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Next 100X Crypto

The Next 100X Crypto team pays special attention to experience and excellence. We bring together professionals who have combined global experience and a better understanding of creating business models which meets the needs of the market. Diversified expertise in investment, marketing, design and financial research. A variety of experiences at Smart Invest supports goals, objectives, and further plans of the company. The success of the Smart Invest team is a source of inspiration the founder’s guide.

Our mission

Our labor is to provide fast source of income via cryptocurrency deposits and tokens easy for newcomers and advanced users. Sucessfull funds management of the investments via the cryptocurrency market and provision the stable income with instant withdrawals, make Next 100X Crypto one of the largest investment platform on the market.

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Using years of experience and professionalism of our traders in trading on various digital exchanges, as well as the use of competent trading strategies, we have developed an innovative offer with a fixed and guaranteed interest rate, with simple conditions of withdrawal of received dividends.
Management of trading processes is brought to perfection in Next 100X Crypto and steadily increases the level of profit of our investors. When you entrust us with your assets, you entrust them to the best professionals in the field. In our work we use only cutting edge technology, competent calculations and the safest trading strategies.

Now we can offer 3 investment plans:
Plan Deposit Return
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Coca Cola Introduces New NFT Collection on Coinbase Blockchain

As soon as the cryptocurrency exchange Coinbase launched the Layer-2 Base platform last week, the American multinational Coca-Cola announced its new NFT collection on the platform.

Coca-Cola’s NFT ‘Masterpiece’ collection consists of some iconic artworks by emerging talents in the digital and on-chain art space. Timeless art treasures like “The Scream” by Edvard Munch and “Girl with a Pearl Earring” by Johannes Vermeer share the space seamlessly with modern pieces by expert artists like Aket and Vikram Kushwah.

These works now take on a new dimension as they are made into collectibles on the blockchain, open to art enthusiasts participating in the Onchain Summer event. Using “Masterpiece”, Coca-Cola® acts as a curator, bringing together stories from around the world and celebrating different types of art.

The Coca-Cola® ‘Masterpiece’ is more than just an art collection. It represents how art, technology and people come together in the chain. By bringing it into the digital world, Coca-Cola® is showing other companies how to connect with the digital age. This collection goes beyond the usual art galleries and reaches people all over the world.

French artist Aket said: “Coca-Cola® is a very important generational milestone. Your ads encourage us to live our dreams every day.”

Coinbase Blockchain Base

Last week, on August 9, cryptocurrency exchange Coinbase released its main base to the public. The Coinbase Base platform hosts over 100 decentralized applications (dApps) and service providers, while also addressing the challenges that users would face with the Ethereum blockchain network.

The Base platform is based on Optimism’s OP Stack software and works as a stacked network. This allows you to handle transactions separately from the main Ethereum blockchain. The aim is to provide a more efficient platform for dapps, making use of Layer-2 solutions. These solutions aim to address the scalability and expense challenges associated with blockchain backbone networks, reflecting a broader industry trend.

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Bank of America predicts that PYUSD will not be easily adopted

Bank of America reacts to the launch of PayPal’s PYUSD stablecoin, pegged to the US dollar, arguing that the asset is unlikely to be widely used, at least not anytime soon.

PayPal’s recent groundbreaking announcement about the launch of its US dollar-denominated stablecoin PYUSD has sparked much criticism around the world. While it seems like a significant step toward cryptocurrency adoption, some say PayPal won’t be very successful any time soon.

One of the largest banks in the US, Bank of America, outlined the main reasons why PayPal USD is unlikely to see immediate adoption in its recent research report.

Competing against CDBCs

First, Bank of America analysts Alkesh Shah and Andrew Moss explained that PayPal’s stablecoin could face intense competition in the market:

“Longer term, we expect PYUSD to experience additional hurdles to adoption as competition from central bank digital currencies (CBDCs) and yield stablecoins increases.”

It is true that several countries are actively exploring Central Bank Digital Currencies (CBDCs) that could compete with stablecoins, as both are based on similar technologies and are pegged to fiat currencies. Only this year, countries like Brazil, South Korea, Russia, Japan, the United Kingdom, among others, have reported news about the launch of their CBDCs. There is speculation that the US may also be working on its CBDC, although some of the country’s presidential candidates have claimed to be against it.

Competing against other stablecoins

Also, there are many other stablecoins that PYUSD will have to compete with. Profitable stablecoins are now especially attractive to investors, according to Bank of America:

“Investors may have been fine holding non-yielding stablecoins like USDT and USDC when rates were close to zero, but it is likely that yielding stablecoins will become increasingly available and attractive with short-term rates above 5%.” .

Dealing with regulatory scrutiny

Finally, the analysts also suggested that PayPal could face regulatory problems if traditional banks are prohibited from issuing stablecoins:

“Investors are likely to be indifferent to the stablecoins they own, as long as the stablecoins are perceived as safe and accessible on major trading platforms. We do not expect the launch of PYUSD to lead to accelerated regulatory clarity, as stablecoin issuance does not change the systemic risk for traditional markets, but stablecoins could face regulatory hurdles if nonbanks are prevented from issuing stablecoins. ”.

Just one day after PayPal unveiled its stablecoin project, the US Federal Reserve released new guidelines on the use of “dollar tokens” by US banks. According to the notice, to engage in any type of stablecoin-related activity, US banks will now need to receive a written supervisory no objection from the Federal Reserve.

Meanwhile, cryptocurrency scammers didn’t wait long to try to cash in on the big news and flooded decentralized exchanges with fake PayPal tokens.