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- Financial Crisis and the Birth of Bitcoin
Financial Crisis and the Birth of Bitcoin
EU Advances Digital Ecosystem
Welcome to ChainDecoded —Your guide to the world of Web3, Crypto and Blockchain. You will receive one email every Thursday with various news, concepts and facts going on in this week.
Financial Crisis and the Birth of Bitcoin
In the early 2000s, a hidden financial problem erupted into one of the worst crises since the 1930s, rooted in the U.S. housing market and risky subprime mortgages. Banks, driven by greed, bundled these risky loans into complex financial products, causing a global collapse in 2008, notably with the bankruptcy of Lehman Brothers.
Governments and central banks intervened, printing billions to bail out over-leveraged banks. The crisis exposed the lack of rules for preventing such disasters and fueled distrust in traditional banking.
Amid this chaos, Bitcoin emerged as a radical reimagination of money. Operating independently of banks and governments, Bitcoin's decentralized nature, driven by complex mathematics and transparency on the blockchain, offered a stark contrast to the opaque traditional financial system.
Bitcoin symbolized monetary independence, offering a transparent and sovereign alternative during a time when trust in traditional banking was at an all-time low.
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👋 Cornell R.S.H. College Scholar Program Approves Bitcoin-Focused Study LINK
Ella Hough, a 20-year-old Bitcoin advocate, led the approval of Cornell University's first independent Bitcoin-focused study and the establishment of its inaugural Bitcoin club.
She co-founded Generation Bitcoin (GenB), a grassroots movement providing educational resources for younger generations interested in Bitcoin.
Ella's academic journey is shaped through the Robert S. Harrison College Scholar Program, with her honors thesis focusing on global Bitcoin adoption and implications.
The newly approved study and Bitcoin club aim to draw in more Gen Z participation in the Bitcoin ecosystem and set a template for other student-led organizations.
💡 Hong Kong Emerges as Hotspot for Bitcoin ETFs Amid Crypto Market Surge LINK
Cryptocurrency prices, including Bitcoin and others like Ethereum, have surged, prompting JPMorgan's unexpected optimistic prediction.
Hong Kong's securities regulator received its first spot Bitcoin ETF application from a major Chinese fund manager, with approval expected after the Lunar New Year holiday.
Hong Kong's Securities and Futures Commission may follow the U.S. SEC's path for spot Bitcoin ETF approval, allowing multiple funds to trade simultaneously.
Hong Kong is embracing crypto-friendly policies, attracting mainland Chinese investors seeking offshore opportunities despite China's crypto ban.
How Cryptocurrency ACTUALLY works?
Bitcoin, Dogecoin, Ethereum, NFT's, all explained in one simple guide!
⚡️ The Bitcoin Spot ETF: A Catalyst For Change In Bitcoin-First Companies. LINK
SEC approves 11 spot Bitcoin ETFs from industry leaders like Bitwise, Grayscale, and Fidelity.
Positive impact expected on bitcoin-first companies in market reception, talent acquisition, and industry perception.
Spot ETF approval may broaden investor base, attract funding, and elevate talent quality in the bitcoin industry.
Anticipation of improved product marketing and enhanced regulatory compliance with major players like Fidelity entering the bitcoin market through spot ETFs.
📺The EU Lays The Techno-Legal Tracks For Its Rising Digital Ecosystem LINK
The EU is introducing the eIDAS2 Regulation, enabling digital identity wallets for citizens to enhance online interactions securely without unnecessary data sharing.
Digital identity wallets act as a "super app," allowing users to share identification and credentials with high trust levels, controlled by the EU government, and Member States.
The regulation expands the marketplace for trust services, enabling individuals to certify attributes, potentially replacing the need for physical documents.
The technology infrastructure initially relies on traditional Public Key Infrastructure (PKI), with potential consideration for blockchain, and the legislation is expected to become law by March, with digital identity wallets provided by Member States by 2026 or 2027.