JP Morgan Calls Bitcoin a ‘Stablecoin’?

TL;DR

• OpenSea just launched a bunch of new features in what the platform is calling ‘OpenSea Studio.’

• Easy payment processing, basic platform compatibility, ‘no code’ design, and a user experience that’s so intuitive it doesn’t require a manual? These are all staples of the Web2 space.

• Here’s what else we would have liked to have seen: A way for creators to program their NFT art/functionality to be removed/paused if a seller lists them on a zero royalty marketplace – and switched back on the moment the NFT is de-listed.

Full Story

We just listened to Tyrone Lobban (the head of JP Morgan’s blockchain division) talk at the Digital Asset Summit, so you don’t have to!

The big takeaway from Ty-Lo’s talk?

The traditional financial world ain’t all that excited about crypto…but they are very keen on tokenization!

According to Ty-Lo, 99.9% of his conversations with clients are about tokenized assets, not crypto.

What does that mean?

Crypto = digital currency, tracked using blockchain technology.

Tokenized assets = traditional investment assets (think: stocks, bonds, and real estate) tracked using blockchain technology.

Which, ok, if the headline here is: “Banker not that into crypto, but keen on making the stuff he already trades more efficient” – it’s not all that surprising.

What came from left field, for us, were his comments on Bitcoin:

“Bitcoin may be more like a stablecoin nowadays”, and “the days of massive returns on Bitcoin are possibly behind us for a while.”

…which seems like a weird take, right? For an asset like BTC, which has almost doubled year-to-date: