Daily Digest - 30th September 2022

Policies

▌CFTC Chairman: BTC Price “May Double” With More Regulation of Crypto Markets

CFTC Chairman Rostin Behnam has raised the prospect of Bitcoin getting a boost if Congress gives the committee more direct powers over the crypto market. "If there's a CFTC-regulated market, bitcoin's price could double," Behnam told a panel at NYU. These incumbents in the crypto space see a huge opportunity for institutional influx, which can only happen if there is a regulatory structure around these markets. Former Treasury Secretary Larry Summers also told an audience at Circle’s Converge22 event last night that increased regulation could be good for the digital asset industry.

Cryptocurrency

▌Deutsche Telekom Provides Ethereum Blockchain Staking

Deutsche Telekom is the latest institution to launch an Ethereum staking service following the Ethereum blockchain’s switch to proof-of-stake earlier this month. Its T-Systems MMS subsidiary will host validator nodes for the blockchain and provide custody solutions for liquid staking solution StakeWise. Deutsche Telekom will also participate in the governance of the StakeWise Decentralized Autonomous Organization (DAO). Dirk Röder, head of the Blockchain Solutions Center at T-Systems MMS, said: "As a node operator, our entry into liquid staking and the close cooperation with the DAO is a new thing for Deutsche Telekom."

▌European Bitcoin Miners Move to Norway and Sweden to Reduce Electricity Costs

Bitcoin miners across Europe are fleeing to the northern parts of Norway and Sweden to reduce electricity costs as European energy prices skyrocket and Bitcoin flatlines. European natural gas prices hit a record high of 321 euros ($309) per megawatt-hour (mWh) in August, compared with 27 euros a year ago. Energy prices are 10 times cheaper in the northernmost regions of Norway and Sweden. Fiorenzo Manganiello, founder of Switzerland-based mining company Cowa Energy, said the current macroeconomic situation is a disaster for the mining industry in Europe

▌Survey: 17% of Voters in 4 US States Hold Digital Assets

According to a survey released by Haun Ventures, a venture capital firm in the crypto industry, 13% to 19% of voters in Ohio, New Hampshire, Nevada, and Pennsylvania hold digital assets. 19% of voters in Ohio and Nevada said they own digital assets, compared with 13% in New Hampshire and 16% in Pennsylvania. The results of the poll show dissatisfaction across the political spectrum over the state of digital privacy and the level of power held by major digital platforms.