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You can find more information on Gridex Protocol's website, Twitter, and Discord | | Learn more | | Bitcoin [BTC] could defy its March performances in 2023
|  | - Historically, March has seen BTC perform poorly on the charts
- 2023 has so far seen Bitcoin register a sharp uptick
After a bearish 2022, the new year saw Bitcoin register a significant incline on the price charts. In fact, in the month of January alone, the world's largest cryptocurrency appreciated by over 40%. Needless to say, this has fueled expectations that March will be positive for BTC too. Especially since historically, it has been the 2nd worst month in terms of performances for Bitcoin.
According to analysts, for instance, the month of March has seen average returns of -5.7% (exc. 2013). However, the position of the Exponential Moving Average at press time seemed to suggest this year might be different.
Additionally, there is now more BTC that hasn't moved over the last 10 years than there is on exchanges. Hence, it is no surprise then that some are expecting this to be the start of Bitcoin's bull market, especially since,
"We are at optimal halving cycle timing where Bitcoin typically bottoms (Q4 2022 and Q1 2023)." | | Learn more | | Vitalik Buterin comments on Ethereum's user experience
|  | | Ethereum co-founder Vitalik Buterin shared a blog post on 28 February in which he documented the sustained need to improve the network to better facilitate Ether (ETH) as a means of payment. Buterin shared two instances where he tried to pay for tea and encountered issues.
During the first instance in Argentina in 2021, he had to pay 0.01 ETH (around $40 at the time) which was a 3x overpayment, as that was the minimum deposit for the owner's exchange account. He added that on a second occasion in 2022, two separate transactions failed due to requiring "extra gas to process the transfer" and a UI glitch in his mobile wallet. He added,
"Good user experience is not about the average case, it is about the worst case"
Buterin also went on to comment on the issue of unpredictable transaction times, the risk of the base fee spiking up, transactions not getting accepted and the UI's lack of indication of the same, among other issues.
| | Pro-Ripple lawyer rebukes 'consensus' claims
|  | - Attorney John Deaton rebuked Michael Saylor for his latest comments
- Only Gary Gensler, Bitcoin maxis believe other cryptos are securities, he said
Attorney John Deaton, a pro-Ripple lawyer, rebuked MicroStrategy's Michael Saylor for his position on Bitcoin [BTC] and the market's cryptocurrency market. This, after a recent interview where SEC Chairman Gary Gensler stated that with the exception of Bitcoin, he considered all digital currencies to be securities.
Saylor commented on the aforementioned, suggesting that consensus is building on the same and Bitcoin is the only crypto suitable to be used as global money. John Deaton responded to Saylor's comment by saying that claims of consensus are false. He added that only Gary Gensler and Bitcoin maxis believe that other cryptocurrencies are securities.
Here, it's worth noting that Deaton found it difficult to blame Saylor and stated,
"He's a brilliant guy and he knows what he's saying is not true."
However, according to Deaton, "this narrative" drives money away from alternative coins and into Bitcoin. | | Learn more | | FTX's Nishad Singh pleads guilty to 6 charges
|  | | Nishad Singh, the former Director of Engineering of bankrupt crypto-exchange FTX, pleaded guilty to the criminal charges filed against him. As per the disclosure made at a court hearing today, these charges include - Wire fraud, conspiracy to commit fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States by violating election financing laws.
Additionally, Singh was accused of altering FTX's code in order to allow Alameda to borrow unlimited funds from the crypto-exchange. His decision to plead guilty comes days after reports of an undisclosed plea deal between him and the U.S. Attorney's Office for the Southern District of New York surfaced.
Singh previously made headlines for contributing nearly $8 million to Democrats during the 2022 election. He is the third person in Sam Bankman-Fried's (SBF) inner circle to plead guilty to criminal charges.
For his part, Sam Bankman-Fried has been accused of making illegal donations through straw donors. In fact, he's alleged to have directed an unnamed FTX executive to contribute over $21 million to a pro-LGBTQ group. | | Learn more | | France votes for stricter crypto-licensing rules |  | | The vote for legislating more stringent licensing rules for new cryptocurrency firms passed with 109 votes in favor to 71 against. The French National Assembly has already passed the bill to President Emmanuel Macron, who will either approve it or send it back to the legislature.
The new law would oblige French cryptocurrency service providers to abide by stricter anti-money laundering rules, adhere to new guidelines on reporting to regulators, and provide more detailed risk and conflict of interest disclosures as a means to strengthen consumer protection.
The legislative push for stricter licensing rules was initiated by a member of the French Senate's finance commission, Hervé Maurey, to eliminate a clause allowing crypto-companies to operate without a full license until 2026. The agenda also received a push from Bank of France governor Francois Villeroy de Galhau, citing the need to respond to the recent turmoil in the cryptocurrency market. | | Bank of England lacks technical expertise to issue CBDCs |  | In a recent committee hearing, Bank of England Deputy Governor Jon Cunliffe announced that the UK lacks the technical expertise and skills required to issue a central bank digital currency (CBDC).
The BoE expects to get the necessary expertise to move forward with the CBDC development in the next phase of testing a working prototype before the implementation. The central bank of the United Kingdom also shared its position on issuing a CBDC as a priority. According to the exec, micropayments would have a major potential use case for a Digital Pound.
Previously, BoE Governor Andrew Bailey had reportedly expressed doubts about the necessity of a CBDC in the short term. This, while European finance ministers once again showed support for a retail version of the Digital Euro. | | Visa, Mastercard put a stop to new crypto-launches
|  | Visa, Mastercard will pause the launch of crypto-related products, services Visa has 70 partnerships with crypto-focused firms, including FTX
Visa and Mastercard – leading payment processing firms – will pause the launch of crypto-related products and services amid the collapse of several notable crypto-firms. In fact, they will wait until the market condition improves. The firms were planning on offering debit cards to nearly 40 countries, with Latin America, Europe, and Asia being the focus.
Visa has more than 70 partnerships with crypto-focused firms. Visa also partnered with the now-bankrupt crypto exchange – FTX in October 2022. Meanwhile, FTX users in the United States, before FTX filed for bankruptcy, could directly link their cards to their cryptocurrency accounts.
Mastercard too has forged several partnerships in the digital currency market. Last year, Mastercard partnered with Nexo to launch the world's first crypto-backed payment card. The card was initially released to only a select few European countries. It allowed users to spend without having to sell their cryptocurrencies. | | Bitcoin, Ethereum barely see green |
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