1) Terra diversifies stablecoin reserves with $200M AVAX joint purchase * The deal makes AVAX the first major cryptoasset, besides BTC, to be added to the UST Reserve, marking the beginning of a diversified and non-correlated asset pool supporting the UST peg. * It also shows Terra's commitment to building and supporting new UST-native protocols within the Avalanche ecosystem to maximize its cross-chain footprint.
Titan’s Takeaway: We love Terra's ethos on building mutual collaborations amongst ecosystems and communities, rather than competition. As a cherry on top, Terra and Avalanche will also be collaborating on a new gaming subnet. We are excited to see such a strong partnership between two of our favorite coins.
2) Payments company Bolt to acquire digital currency provider Wyre in massive $1.5B deal * This will be the largest merger in the crypto industry, excluding SPACs. * The acquisition will fuel Bolt’s efforts to become “the dominant checkout service for crypto and NFTs,” in the Web3 space.
Titan’s Takeaway: Integrated crypto payments are going mainstream, and this acquisition has the potential to introduce crypto-as-payments for thousands of merchants on Bolt’s network.
3) Peter Thiel slams revered financial figures and praises the ‘revolutionary youth movement’ around Bitcoin
- In his Bitcoin 2022 keynote, Thiel cast Warren Buffett, Jamie Dimon, and Larry Fink as part of a ‘finance gerontocracy,’ and even called the Oracle of Omaha a ‘sociopathic grandpa’.
- Thiel claimed Bitcoin, worth slightly under $900B, could reach a level that would rival the world’s gold market, valued around $13T.
Titan’s Takeaway: Contrarian Thiel’s comments will not come as a surprise to the crypto community—but we think it’s worth acknowledging that old-school names in finance are playing an increasingly major role in bringing crypto to the masses.
Learn with titan
Investment articles and resources
Become the smartest investor you've ever been through straightforward, easy-to-read investment articles.
Ready to become a client?
It's time to focus on the future of your wealth.