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The Highlight of the Week

Bitcoin for Safety

While studying the existing macroeconomic conditions, we came across an excellent blog post by James O'Brien called Bitcoin for safety. The blog post examines how buybacks are fueling equities, how cheap credit is helping buybacks, increasing deficits, the strength of the US dollar, and alludes how bitcoin is a hedge against other countries deciding enough is enough regarding the dollar.

"The writing's on the wall. The rest of the world is getting tired of funding another country's obviously-unsustainable programs like social security and medicare while simultaneously being vulnerable to dollar-based sanctions."

What happens when other countries stop funding the US deficit? The fed has to crawl out of this debt through printing, and then inflation catches on. Some economies are already troubled with inflation. Their currencies have taken a beating against the US dollar in the last five years.

Bitcoin becomes important when inflation strikes. Before the bitcoin era, citizens did not have an option to seek refuge against inflation. Therefore, bitcoin becomes more critical as a hedge against inflation and the existing financial system.

Top News From Last Week

Binance Launches Dollar-Backed Crypto Stablecoin With NYDFS Blessing

Another week, another announcement by Binance. The Malta-based exchange that was found pushing the regulatory envelope seems to be cognizant of the law of the land. The US is by far the most challenging regulatory landscape for innovative financial products. Moreover, Binance seems to embrace US regulations because of the business potential. Binance is launching the USD based stablecoin with Paxos. Paxos will act as both the custodian and the issuer for BUSD and is supposed to audit the dollar holdings regularly.

Telegram nears the awaited launch by releasing the code for its TON blockchain

Telegram has a contractual obligation to launch the mainnet by October 31st. Thus, it is no surprise that the codebase was released. The block explorer and test network portal don't appear to be a finished product, and it seems that they have released these due to the approaching deadline. As Telegram has raised a lot for their project and it is present in all the major countries, it's likely going to be on the regulators' watchlist. The regulatory oversight faced by Telegram will serve as a guide as to what to expect for Libra.

Top Performing Tokens

Top performing tokens from AUG/31/2019 to SEPT/06/2019 were:

Worst Performing Tokens

Top performing tokens from AUG/31/2019 to SEPT/06/2019 were:

ROI of Recent IEOs

ROI of recent IEOs until SEPT/04/2019:

Tokens with Most Volume

Tokens with the most volume from AUG/30/2019 to SEPT/05/2019 were:

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