Crypto Biz: JPMorgan enters the Metaverse, Marshall Islands legalizes DAOs, Feb. 10–16
Last week’s Crypto Biz newsletter explained how Wall Street is essentially marketing Bitcoin (BTC) for us after Wells Fargo said digital assets could “soon hit a hyper-inflection point” in terms of adoption. This week, JPMorgan Chase issued its own bullish outlook when it labeled the etaverse a $1 trillion a year opportunity.
In addition to JPMorgan, the New York Stock Exchange (NYSE) this week sent out a strong signal that nonfungible tokens (NFTs) and the Metaverse are part of its long-term plans. On the regulatory front, the Republic of the Marshall Islands took a bold step in becoming a leader in the blockchain arena.
The latest Crypto Biz newsletter explores these stories in greater depth. For a full breakdown of the top business stories in crypto, register for the full newsletter at the bottom of the page.
Related: Circle’s valuation doubles to $9B following revised merger agreement with Concord
JPMorgan’s foray into the Metaverse became official this week after the financial giant opened a virtual lounge on Decentraland. Visitors to the lounge are greeted by a digital portrait of CEO Jamie Dimon, an outspoken Bitcoin critic who lambasted cryptocurrencies for lacking “intrinsic value.” Isn’t it ironic that his bank is adopting the very technology spawned by Bitcoin? Nevertheless, JPMorgan believes the Metaverse represents a trillion-dollar opportunity that could impact virtually every sector of the economy.
Great development. U.S. banking giant JPMorgan Chase has unveiled research on a Quantum Key Distribution blockchain network that is resistant to quantum computing attacks. https://t.co/aIzxRikuDR
The Republic of the Marshall Islands, a tiny island state near the equator in the Pacific Ocean, has formally
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