🐕 Shiba Inu To Launch Stablecoin & Reward Token

Discover the news of the week [View in Browser]( [Gif Ledger Bites]( You Can Now [Swap]( Your Crypto With FTX Through Ledger Live! With the [integration]( of FTX services into the ‘Swap’ section of your Ledger Live app, you can now swap 120+ digital assets with low fees, self-custody and world-class security. It’s a world first. [Swap with FTX Now!]( [Figures] [Chivo remittance amounts]( [Fed increase rates]( [In the know] [A fake job offer takes down Axie Infinity.]( According to The Block, a senior engineer at Axie Infinity was duped into applying for a job that did not exist. The ‘fake’ offer was delivered in a PDF document which the Axie engineer downloaded, allowing spyware to infiltrate Ronin’s systems. [Shiba Inu to launch a SHI algorithmic stablecoin.]( For its lead dev, S. Kusama, the SHI won’t be affected by market fluctuations, like what happened with Terra. This new stablecoin is set to be released this year. Shiba Inu also announced a new token, TREAT, with wide applications including rewards. [The Central African Republic rolls out its ‘Sango Coin’ planned for the third quarter.]( The “Sango Coin will be the currency for the next generation,” President Faustin-Archange Touadera said, adding that his country “sits on a mountain of resources -- gold, diamonds, rare minerals, unexploited resources. Sango Coin will enable direct access to our resources for the whole world.” [Bitcoin eyes its biggest weekly gain since October.]( largest crypto is up more than 13% for the week. The global crypto market cap has retaked the $1 trillion landmark amid a relative rebound. Will this trend continue? [… and Aave’s company introduces a new dollar-pegged decentralized stablecoin to the protocol’s DAO.]( The “GHO” stablecoin would be minted by borrowing against assets locked as collateral on Aave. For Stani Kulechov, “the main vision is to pursue organic adoption via L2s to solve real life payment opportunities across the internet.” [The Chinese Central Bank may apply smart contracts to the Digital Yuan.]( In a context where the Chinese government said that the Digital Yuan would not be built on blockchain, this could be an indication that blockchain could still end up playing a larger role than expected. [Swap with FTX Now!]( Wanna share our Biiiiiites with a friend ? [Send →]( [Insight of the week] Is Bitcoin The Next Monetary Standard? [bitcoin image] [Answering]( questions about record-inflation levels, Janet Yellen, the Treasury Secretary, recently said “she was wrong about the path that inflation would take,” highlighting that beyond Central Banks’ paramount powers, flawed decision-making occurs at the highest level. The once dominant “gold standard”, a monetary system that pegged money to gold, came to an end with Nixon’s decision back in 1971. Since then, Central Banks have been printing money frantically, depegging its creation from anything valuable, and driving volatile inflationary cycles. Is Bitcoin a technical fix? A Broken Fiat System Back In 1952, Mises, an Austrian economist, was already[skeptical]( of governments’ monetary management due to their temptation to debase money “whenever it begins to accrue wealth.” Saifedean Ammous, a famous Bitcoin writer, shares the view. Creating new pieces of paper and digital entries does not necessarily boost society’s capital stock, it “only devalues the existing money supply and distorts prices,” [he believes](. Inflationary episodes have flourished, not only today, but throughout the 20th century.[Steven Hanke’s work]( shows that more than 50 events of hyperinflation have taken place around the world in the past century. Does the current fiat-based system need a fix? A Two-Step Tale for Bitcoin That’s where Bitcoin comes in. With decentralized [nodes]( it does not rely on [policy-makers]( making flawed decisions. With a limited supply, it is inflation-resistant. With divisibility into Satoshis, ever-smaller units can be transacted (as opposed to gold). With encoded rules, it automates the functions of modern central banks. With such features, Bitcoin is a credible candidate to become the next monetary standard, but needs to go through two fundamental steps beforehand. First, Bitcoin has to gain investor legitimacy as a [store of value](. An increasing number of retail & institutional investors have to realize that Bitcoin’s digital scarcity makes it an adequate store of value. They also have to tolerate Bitcoin’s volatility and have faith in the capacity to earn long-term returns. Fundamentally, a store of value needs to appreciate when demand surges and, just like gold, to be inflation resistant. Fortunately, these are Bitcoin properties, too. The second step is for Bitcoin to become a global unit of account. This one is rocky. High volatility underpins Bitcoin’s cycles, preventing it from becoming a reliable unit of account… for now. There is room to believe that Bitcoin’s volatility could gradually tame as the global financial sphere adopts it and as its liquidity increases, making it more suited for daily payments. Bitcoin is a digital software reinventing money. It still needs to go through numerous steps before reinventing financial systems. [I wanna know more] Ledger travels around the world. During NFT NYCNFT.NYC, we hosted our own Op3n event. Watch everything you shouldn’t miss [here](. [Listen]( to our Twitter Space with [Dan Held]( and [Alex Gladstein]( about use cases of BTC for developing countries and in times of crisis. There are different reasons why a bear market can be an opportunity. Find out how [here.]( [Inside Ledger] You can’t miss our newly launched Ledger Market, our NFT Distribution Platform. Watch the trailer [here](. As centralized exchanges scrambled, our hardware crypto wallet sales increased. Learn why [here](. [Images of the week] Something you’ll never see with Bitcoin. [Breaking news image] How did you like our newsletter this week? [😍 I buy! 😐 I hodl! 😭 I sell!](//surveys.hotjar.com/ed5551c5-7004-42b8-81dd-ff6f5f399685) [unsubscribe]( [Ledger]( Follow us on: [Ledger YouTube]( [Ledger Twitter]( [Ledger Instagram]( [Ledger Facebook]( [Ledger TikTok]( & listen to our podcast [here](. This email was sent to you because you signed up at Ledger.com or purchased a Ledger product. We respect your right to privacy. Read our [Privacy Policy]( and [Cookie Policy](. © Ledger SAS 2020. All rights reserved. Ledger brands are registered trademarks of Ledger SAS. Ledger SAS, 1 rue du Mail, 75002 Paris