In this episode of Coin Street headlines, we dive into the latest developments in the world of cryptocurrency and the evolving financial landscape. Highlights include: The launch of the first regulated stablecoin tied to the international version of the Chinese yuan, marking a significant step in the global stablecoin race. Insights from Balaji Srinivasan, former Coinbase executive, on the transition from a traditional economy to an internet-first economy dominated by tech and digital platforms. Flora Growth’s ambitious $401 million Treasury initiative to support Zero Gravity, a blockchain project aimed at decentralized AI infrastructure. Market analyst Jordi Visser’s perspective on bitcoin’s potential for growth and adoption amidst a looming financial reset, as discussed in the context of the “fourth turning” theory. Jane King with the latest from the NYSE.
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The first regulated stablecoin tied to the international version of the Chinese yuan met for foreign exchange markets, and the South Korean one stablecoin launched this week as the global stablecoin race heats up.
Financial tech company Anchor X debuted its stablecoin at the Belt and Road Summit in Hong Kong, according to Reuters, following a regulatory pivot in China, embracing stablecoins for international markets.
Well, the traditional.
The economy is being phased out in advanced countries that are transitioning to internet first economy dominated by the tech industry and digital platforms.
That's according to Vallaji Shrinivasan, a former executive at Crypto exchange Coinbase and the author of The Network State.
He shared a chart showing the price divergence between the magnificent seven tech stocks, which are enjoying meteoric growth, and the remainder of companies in the S&P 500, which have remained fairly.
Flat since 2005, these network states will require internet native money in the form of cryptocurrencies and represent a pivotal shift in the human story.
And cannabis firm Flora Growth has launched a $401 million treasury initiative to back Zero gravity, a blockchain project focused on powering decentralized AI infrastructure.
The move comes through a private placement deal combining $35 million in cash with $366 million in in-kind digital.
That's primarily denominated in those tokens.
Now, as part of the transaction, Flora will rebrand as zero stack while retaining its NASDAQ ticker FLGC, according to the announcement, and Bitcoin is poised to grow in price and adoption regardless of the macroeconomic scenarios that will unfold in the coming years and decades.
This is the global financial system heads for a 4th turning style reset.
That's according to market analyst Jordi.
Viser Visser told Anthony Pomliano that the average person has lost confidence in legacy institutions, which should drive investment into Bitcoin, a neutral permissionless global asset not tied to governments or traditional organizations.
The fourth turning is a reference to a book written by William Strauss and Neil Howe that describes the cyclical rise and fall of nations due to predictable intergenerational patterns, and that is the latest Coin Street headlines.