BabelFish’s Ecosystem News Summary: Feb. 1st — Feb. 14th, 2022

Bitcoin Updates:

This Is the Couple Charged With Laundering Billions in Stolen Bitcoin 🦹‍♀️
Ilya Lichtenstein and his wife, Heather Morgan (aka Razzlekhan) dominated Crypto Twitter earlier this month after the FBI arrested them for conspiracy to launder the 119,754 BTC stolen from Bitfinex in 2016. “Criminals always leave tracks, and today’s case is a reminder that the FBI has the tools to follow the digital trail, wherever it may lead,” said FBI Deputy Director Paul M. Abbate. And yes, Netflix will probably do a series about them.

Bitcoin Donations To Ukraine NGOs, Volunteer Groups Soar: Report 🇺🇦
The report highlights the importance of Bitcoin as a funding method for volunteer groups backing Ukraine’s government as fears of an attack by Russian troops massed near its border grow. “Cryptocurrency has proved to be a robust and growing alternative (to traditional currency) — especially when it comes to donations from other countries,”

Anti-Vax Mandate Truckers Have Raised $700K in Bitcoin 🇨🇦
In response to the GoFundMe blockade, BTC Sessions, a crypto YouTuber from Calgary, started a fundraiser for the protest using the Bitcoin native crowdfunding platform “Tallycoin.” The “Freedom Convoy” of Canadian truckers in Ottawa has raised nearly 16 Bitcoin from 4,877 donors after their GoFundMe donations were blocked.

Fitch Downgrades El Salvador to CCC Weeks Before Bitcoin Bond Issue 👎
“There is a high degree of uncertainty surrounding other sources of external financing, such as additional multilateral funding, given doubts surrounding an IMF program, as well as the capacity to issue bitcoin-backed bonds,” the rating agency said.

Russia Was Set To Crack Down On Crypto But Embraced It In A Bear Hug 🇷🇺
A document setting the principles for the regulation of cryptocurrencies appeared on the government’s official website on Tuesday night. Notably, the plan has the support of the central bank, which had called for a ban on crypto mining and trading.

Novogratz Launches ESG Programme To Tackle Bitcoin’s ‘Dirty’ Image ♻️
Founder of Galaxy Digital blames ‘misinformation’ for environmental concerns. “The world has a budget of power and I think if you’re in the crypto community you’d say this is a good use of a small amount of of power, which is providing an amazing amount of service”

RSK Ecosystem Updates:

Tropykus.Finance Protocol Launched 🥳
Tropykus is a much-awaited lending protocol targeting the growing hispanic market seeking to lend and borrow bitcoin and stablecoins, go check it out!

Two-Way FastBTC Now Available On Sovryn
FastBTC now allows you to convert your BTC to RBTC, and RBTC to BTC, in a matter of minutes. Only one block confirmation is required.

Fireblocks Platform Adds Support to RSK 🤝
This would allow more than 700 financial institutions around the world to have access to the RSK ecosystem via their platform.

BabelFish Readies To Start Governance 🗳️
Voting on BabelFish’s improvement proposals (stablecoins and chains to add, balancing curves, liquidity mining rewards, fees, et al) is expected to commence this week!

RSK February Executive Summary 📊
Total transactions: 8 Million
Active Accounts: 64,770
4 new Protocols/Integrations per month
13 DeFi projects built on RSK
18 wallets integrated with RSK

Merged Mining:
Net HashRate: Average 102.71 EH/S
BTC Hash Rate Mining RSK: Average 64%
Total BTC locked on RSK: 2,431 RBTC

Stablecoin Updates:

The House Talks Stablecoins 🏛️
It is painfully obvious that the banking industry is lobbying to limit stablecoin experimentation and issuance to licensed banks, the same ones responsible for the ongoing economic crisis Bitcoin can fix.

A “Narrow” Path To Efficient Digital Currency 🤓
A well-researched paper by Cato arguing the case that “a stablecoin industry open only to insured depository institutions may fail to provide strong incentives for ongoing digital currency innovation.” Recommended reading.

Silvergate Keeps Its Stablecoin Dream Alive After Diem Purchase 🏦
Silvergate, one of the most crypto-friendly banks in the USA, is well positioned to launch a regulated stablecoin after buying Diem. Silvergate first got involved with Diem in 2021, when it agreed to become the exclusive issuer.

MakerDAO’s DAI Surpasses $10bn in Circulation 🥳
The longest running decentralised stablecoin hit a milestone last week when it surpassed $10bn for the first time in the Ethereum blockchain. Centralised options USDC or USDT practically have a duopoly at the moment, but decentralised options like DAI and UST should not yet be discarded.

Nationals, Terra Create First-Ever Sports Partnership With DAO
The Washington Nationals baseball team will “explore” in-stadium payments of Terra’s UST stablecoin as part of a nearly $40 million sponsorship. For the next five years, the ballpark’s home plate VIP lounge will be called “The Terra Club” and feature crypto branding prominently.

Have you provided constructive comments to the FED’s research, anon? 📝
Comments on the FED’s research on stablecoins and digital payments are open until May 20th. If you have valuable opinions, share it with the FED!

What did you think of our first bi-weekly ecosystem news summary?
Comment below with your thoughts, share this post with others, and join the Discord and Telegram to be a part of the future of BabelFish.



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Babel Fish

Babel Fish - stablecoin aggregator and liquidity provider. Issuer of XUSD - meta-stablecoin with biggest MC on RSK chain.