The eyes of the world have been on India this week as Prime Minister Narenda Modi hosted leaders from around the world for the G20 summit. But what's been happening with the G20 of crypto this week? Read on to find out...
Fresh ideas abound this week, as Coinbase head honcho Brian Armstrong put forward a number of suggestions for the future of crypto when calling out for Web3 builders to apply for development funds tied to the exchange's L2 blockchain, Base. We aew legally obliged to say that "other ideas are available, of course"... such as Vitalik Buterin's co-authored paper on the potential for Privacy Pools to overcome the DeFi dilemma of balancing the need for privacy against the need to dissuade bad actors.
The distribution of wealth was also a hot topic as we discovered that only 0.02% of crypto hodlers are millionaires, and the new government in Thailand had to follow through with its election promise to distribute 10,000 baht ($280) to every citizen in the country aged 16 or over.
Not everyone was so harmonious this week however as years of beef between Gala Games CEO and the company director finally bubbled over into a very public spat and counter court actions. And Bitcoin magazine CEO David Bailey very publicly accused Barry Silbert of market manipulation with the Greyscale Bitcoin Trust.
Big name payment processors continued along the path to a blockchain-based future, with Visa extending its adoption of USDC as a settlement tool to include merchant acquirers and the Solana blockchain, and the Swift network teaming up with Chainlink to pilot a platform connecting the traditional banking world to digital assets held on distributed ledger technology.
In DeFi, MakerDAO also seems to looking towards Solana, or a potential fork thereof, for its promised forthcoming standalone governance chain, NewChain, although not everyone is a fan of the idea. And we continued our series on staking with a look at some of the biggest Staking-as-a-Service providers.
And finally, it wouldn't be a Sunday Review without at least some news about the SEC. Despite a partial victory for Ripple in the ongoing court action between the pair, the SEC seems determined to take its claim to appeal, although Ripple is of course appealing against the appeal.
And that was the week that was... ever onward to the week that would be.
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