Episode Details

01st May: Crypto & Coffee at 8
💥2 Million Ordinal Inscriptions 🚀US debt ceiling update🚀Global Crypto numbers 🔻 PayPal for Venmo Customers🔥
 

💥 The U.S. Department of the Treasury has an excellent explanation of Debt Limit here https://lnkd.in/dZXcFbta House Republicans narrowly passed sweeping legislation on Wednesday that would raise the government’s legal debt ceiling by $1.5tn in exchange for steep spending restrictions, a tactical victory for the House speaker, Kevin McCarthy, as he challenges Joe Biden to negotiate and prevent a catastrophic federal default

❗ How does this impact the price of Bitcoin & Cryptocurrencies?

🔥 The current Debt ceiling is $31.4 trillion
- Fortunes article quoting Standard Chartered Bank states If the U.S. defaults on debt Bitcoin could rise nearly 70%

- Peter Schiff has warned the US will default on its Debt & that raising the debt ceiling will make the problem worse. More info via Bitcoin.com here https://lnkd.in/dJFRHVrG

Global crypto numbers: Check out Blockchain DXB’s Crypto & Coffee at 8 podcasts where we explain this in detail and share our commentary on it. See slides 1 & 2 below for detailed info. Some concerning metrics are:
- Global market
- Stablecoins
- Defi
❗ We also explore Defi project DODO, explain what the project is and questions about its Total Value Locked & 24hr volume

👀 NFTs on Bitcoin Blockchain: 2 Million Ordinal Inscriptions Milestone in Just Over 4
🚨 Bitcoin.com has reported As of April 28, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain has exceeded 2 million, according to current statistics. This milestone has been reached within just over four months since the first Ordinal inscription was minted on December 16, 2022, at block height 767,753. In total, inscription minting fees have amounted to 196.22 bitcoin, equivalent to $5.78 million. Article here https://lnkd.in/dmtXqbFD Will the trend continue heading in 2024?
 

⚡ PayPal is introducing crypto transfers for Venmo customers. The new feature enables customers to transfer cryptocurrency to friends and family on Venmo or PayPal, and other wallets and exchanges in the crypto ecosystem. Official info https://lnkd.in/duZv78dQ
 

🚨 Two UAE news: (See slides below for more info & listen to our podcast to get our commentary on it
⚡ Dubai metaverse company Everdome.io secures $60m pledge from investment group GEM
⚡ Dubai leads the way in Web 3.0 adoption-