Bitcoin News Roundup for Jan. 27, 2021

Bitcoin News Roundup for Jan. 27, 2021

With BTC dropping below $ 30,000 and USDT saga (tether) receiving new attention, CoinDesk’s Market’s Daily is back with the latest round up of the news.

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Today’s stories:

First Mover: Risks Nobody Has Seen Before, From Fed To Tether (And GameStop)

The risks surrounding the stablecoin tether (USDT) have been known for years, but they are attracting new attention as the outstanding amount increases to USD 25 billion.

Silver Lake’s Glenn Hutchins (until recently a board member of the New York Fed) says it is “fundamentally wrong to say that bitcoin is most commonly used for crime”. (Finextra)

Social networks are turning to blockchain technology as centralized tech giants like Facebook, Google, and Twitter have concerns about power. (NYT)

Bitcoin is an incredibly dirty business with a carbon footprint comparable to that of New Zealand. (Bloomberg statement)

ARK’s Cathie Wood says approval of the bitcoin ETF is unlikely until its market capitalization climbs to around $ 2 billion. (CoinDesk)

Former CEO of Goldman Sachs, Lloyd Blankfein, said in an interview about: bitcoin: “If I were a regulator, I would kind of hyperventilate about the success at the moment and prepare myself to deal with it.” (CNBC via Twitter)

Colombia, Estonia upload the Bitcoin whitepaper to their government websites. (CoinDesk)

“Price bubbles accelerate the growth of the Bitcoin user base, the expectation of which then fuels the price bubble,” writes the marketing professor at the University of Southern California in op-ed. (CoinDesk statement)

Retailers pile into viral option calls at the highest levels, with massive buying of bullish contracts helping to crank up the GameStop price pump. (Bloomberg)

China’s asset bubble warning – and $ 12 billion dragged out of the financial system by open market deals on Tuesday – threatens equity hype in Hong Kong. (Bloomberg)

Blank check companies talk about Reddit and TikTok when private investors put money into SPACs. (Bloomberg Businessweek)

Amid the crisis in the aviation industry, the world’s largest jet leasing companies issued $ 15 billion in bonds this month with yields of 2% to 3%, up from about 5% last summer. (WSJ)

Consumer confidence in the US is improving the economic outlook more than expected. (Bloomberg)

The IMF estimates that nearly 90 million people are likely to fall below the extreme poverty line in 2020-21, with the pandemic wiping out projected production by $ 22 million by 2025. (Reuters)

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