Circle Explains How USDC Is a Dollar With Superpowers at WEF

• Circle attended the World Economic Forum to explain why USDC is a dollar with super powers.
• USDC has grown from zero to $45 billion in four years and is supported by wallets from 190 different countries.
• Circle hosted over a dozen conversations with the participants of the WEF to reset the crypto narrative with an emphasis on inclusive growth, sustainability and use cases.

At the World Economic Forum (WEF) in Davos, Switzerland, which took place between Jan. 16 and Jan. 20, 2023, USD Coin (USDC) founder Circle spoke to leaders from all over the world about the use of cryptocurrencies, and why USDC is a dollar with superpowers.

Circle hosted over a dozen conversations with the participants of the WEF to discuss their vision for an inclusive future of money. During their talks, they emphasized the need for responsible innovation, sustainability, and the utility value of USDC and blockchain technology.

The impressive growth of USDC in the stablecoin market is evident from their recent report, “The State of the USDC Economy” which was published on Jan. 17. It showed that USDC has grown from zero to $45 billion in four years, and is supported by wallets from 190 different countries. Additionally, it is the native currency of eight blockchains, and has over 200 integrated protocols.

The WEF talks were an effort from Circle to reset the crypto narrative and promote their vision for a future of money that includes everyone. They pointed out the potential of USDC and blockchain technology to create a more transparent, efficient, and inclusive financial system.

This was an important event for the company, as it not only gave them the opportunity to talk with industry leaders and government representatives, but also to showcase how USDC can be a powerful tool for economic growth and development.

Monex Group Expresses Interest in Buying FTX Japan Exchange

• Investment advisory firm Monex Group expressed interest in buying FTX Japan, the Japanese subsidiary of bankrupt exchange FTX.
• Monex CEO Oki Matsumoto noted that the crypto market in Japan has a lot of potential due to liberal Japanese regulations.
• The US court approved the sale of FTX’s Japanese and European subsidiaries while the firm is still in bankruptcy proceedings.

The investment advisory firm Monex Group has expressed interest in acquiring FTX Japan, the Japanese subsidiary of the bankrupt exchange FTX. The news was reported on Jan. 16 by Bloomberg News.

Monex CEO Oki Matsumoto told Bloomberg that less competition within the local market would be a “very good thing” for the firm. Matsumoto said, “Generally speaking, we naturally are interested.” He also noted that the crypto market in Japan has a lot of potential due to its liberal regulations. Companies may use non-fungible tokens for marketing campaigns or invest in digital assets. Matsumoto hopes to establish Monex as one of the most preferred options for local customers.

Monex has made several acquisitions in recent years. In July 2022, the firm bought 100% shares of ChatBook Ltd. The company had also acquired Coincheck Inc., the exchange that was hacked in 2018, as part of its diversification efforts.

The US court had earlier approved the sale of FTX’s Japanese and European subsidiaries while the firm is still in bankruptcy proceedings. FTX Japan offered spot and derivative trading services and held 10 billion Yen ($78 million) in net assets and 17.8 billion Yen ($13.88 million) in liabilities at the end of September. The exchange had allowed customers to withdraw funds.

Monex Group’s announcement of interest in buying FTX Japan could be a major step for the crypto market in Japan. With its liberal regulations, the country has a lot of potential to grow as a major player in the digital asset industry. Time will tell if Monex will be successful in its endeavor.

Decentraland’s Price Soars 73%, Aussie Open Partnership Boosts Growth Prospects

• Decentraland (MANA) has recorded a strong performance over the past week, growing 73% to $0.7090 at the time of press.
• The total crypto market cap has grown substantially, adding $156 billion to set off a spike in token prices across the board.
• Decentraland has been trending higher since hitting a local bottom of $0.2858 on December 2022, culminating in a peak price just below the pre-FTX collapse level today (Jan. 16).

Cryptocurrency project Decentraland (MANA) has experienced a strong performance over the past week, with its price increasing 73% to $0.7090 at the time of press. This marks a significant recovery from its pre-FTX collapse level of $0.7137. The market sentiment has been buoyed by the total crypto market cap adding $156 billion and setting off a spike in token prices across the board.

Decentraland’s price has been trending higher since hitting a local bottom of $0.2858 on December 2022. On Jan. 13, the price swung 34% to the upside before closing the day marginally lower. Subsequent days have all resulted in significant upside swings, culminating in a peak price just below the pre-FTX collapse level today (Jan. 16).

Even with the strong performance, Jan. 16’s daily candle pattern has printed a small candle body with a long top and bottom wick, indicating market indecision at the current price. Furthermore, the limited data set does not yet confirm an end to this bear cycle, leaving the year ahead uncertain.

The strong performance of Decentraland has been further bolstered by its partnership with the Australian Open and strong GitHub activity. The partnership with the Australian Open is intended to provide new virtual experiences for fans and participants of the tournament. As for the GitHub activity, Decentraland’s development team has been continuously pushing out updates to the project’s codebase, indicating a strong commitment to the project.

Overall, Decentraland has recorded an impressive performance over the past week and looks to be in a strong position to weather out the bear cycle and continue to grow in the future. With the strong activity on its GitHub, the partnership with the Australian Open, and the potential for further price growth, Decentraland is definitely one to watch in the coming year.