US crypto custody firm BitGo wins BaFin license in Germany: Report

November 1, 2023 Coin Telegraph

BaFin

BitGo originally announced it was setting up two regulated custodial entities in Germany and Switzerland in February 2020.

Major cryptocurrency custody firm BitGo is reportedly expanding its regulatory compliance in Germany more than three years after launching a dedicated local subsidiary.

BitGo has obtained a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin), according to a Nov. 1 report by Finance Magnates. The firm has been storing crypto assets like Bitcoin (BTC) for its clients since 2019 under the supervision of BaFin as part of a transitional regime, the report notes.

The German license secures BitGo's presence in the European market and is an important milestone for BitGo, BitGo Europe managing director Dejan Maljevic said.

“BaFin is recognized as one of the world’s key trendsetters in crypto regulation,” Maljevic noted, adding that the license “enables the progress that digital currencies entail while creating a secure regulatory framework.”

BitGo and BaFin have not yet responded to Cointelegraph’s request for comment.

Headquartered in Palo Alto, California, BitGo originally set up two regulated custodial entities in Germany and Switzerland in February 2020. BitGo’s German subsidiary, BitGo Deutschland GmbH, immediately started providing custody services in Germany and was expected to apply for regulatory approval in November 2020.

BitGo then secured a New York Trust license in March 2021, which allowed the firm to operate as an independent custodian in the state.

The news comes shortly after BitGo raised $100 million in a Series C financing round in August 2023, bringing the company’s valuation to $1.75 billion. Backed by major investment firms like Goldman Sachs and Galaxy, BitGo reportedly initiated discussions regarding at least two prospective deals using the new funding.

BitGo’s regulatory milestone in Germany is another sign of growing cryptocurrency adoption in the country. According to an October 2023 report by Chainalysis, Germany is the second largest cryptocurrency economy in the Central, Northern and Western Europe region after the United Kingdom.

TikTok, Snapchat, OnlyFans and others to combat AI-generated child abuse content

October 31, 2023 Coin Telegraph

Coin Telegraph

Major social platforms, AI companies, governments and NGOs issued a joint statement pledging to combat AI-generated abusive content, such as explicit images of children.

A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI.

On Oct. 30, the United Kingdom issued the policy statement, which includes 27 signatories, including the governments of the United States, Australia, Korea, Germany and Italy, along with social media platforms Snapchat, TikTok and OnlyFans.

It was also undersigned by the AI platforms Stability AI and Ontocord.AI and a number of NGOs working toward internet safety and children’s rights, among others.

The statement says that while AI offers “enormous opportunities” in tackling threats of online child sexual abuse, it can also be utilized by predators to generate such types of material.

It revealed data from the Internet Watch Foundation that, within a month of 11,108 AI-generated images shared in a dark web forum, 2,978 depicted content related to child sexual abuse.

The U.K. government said the statement stands as a pledge to “seek to understand and, as appropriate, act on the risks arising from AI to tackling child sexual abuse through existing fora.”

“All actors have a role to play in ensuring the safety of children from the risks of frontier AI.”

It encouraged transparency on plans for measuring, monitoring and managing ways AI can be exploited by child sexual offenders and on a country level to build policies regarding the topic.

Additionally, it aims to maintain a dialogue around combating child sexual abuse in the AI age. This statement was released in the run-up to the U.K. hosting its global summit on AI safety this week.

Concerns over child safety in relation to AI have been a major topic of discussion in the face of the rapid emergence and widespread use of the technology.

On Oct. 26, 34 states in the U.S. filed a lawsuit against Meta, the Facebook and Instagram parent company, over child safety concerns.

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G7 countries to launch AI code of conduct: Report

October 30, 2023 Coin Telegraph

Canada

The Group of Seven (G7) countries will agree on a voluntary AI code of conduct for companies developing AI to reference for mitigating risks and benefits of the technology.

The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters.

According to the report, the code has 11 points that aim to promote “safe, secure, and trustworthy AI worldwide” and help “seize” the benefits of AI while still addressing and troubleshooting the risks it poses.

The plan was drafted by G7 leaders in September. It says it offers voluntary guidance of actions for “organizations developing the most advanced AI systems, including the most advanced foundation models and generative AI systems.”

Additionally, it suggests that companies should publicize reports on the capabilities, limitations, use and misuse of the systems being built. Robust security controls for said systems are also recommended.

Countries involved in the G7 include Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union.

Cointelegraph has reached out to the G7 for confirmation of the development and additional information.

This year’s G7 took place in Hiroshima, Japan, with a meeting held between all participating Digital and Tech Ministers on April 29 and 30.

Topics covered in the meeting included emerging technologies, digital infrastructure and AI, with an agenda item specifically dedicated to responsible AI and global AI governance.

The G7’s AI code of conduct comes as governments worldwide are trying to navigate the emergence of AI with its useful capabilities and concerns. The EU was among the first to establish guidelines with its landmark EU AI Act, which had its first draft passed in June.

On Oct. 26, the United Nations established a 39-member advisory committee to tackle issues related to the global regulation of AI.

The Chinese government also launched its own AI regulation, which began to take effect back in August.

From within the industry, the developer of the popular AI chatbot ChatGPT, OpenAI, announced that it plans to create a “preparedness” team that will assess a range of AI-related risks.

Magazine: AI Eye: Get better results being nice to ChatGPT, AI fake child porn debate, Amazon’s AI reviews

How major German firms like Mercedes and Lufthansa are using NFTs

October 27, 2023 Coin Telegraph

Coin Telegraph

German brands embrace NFTs, exploring new ways to engage with customers and build brand loyalty.

For the most part, nonfungible tokens (NFTs) have two primary use cases: Buying and selling digital products (digital art, virtual fashion items) and building digital communities (exclusive memberships, access to events).

These use cases can be easily adopted by brands and companies, such as fashion brands selling digital clothes, various companies offering NFT-based club memberships and musicians holding exclusive concerts for their fans.

Traditional German companies are also jumping on the bandwagon, recognizing the potential of NFT technology to innovate and market their products and services.

Deutsche Post combines NFTs and AI

Deutsche Post, the German postal service, will release its first limited-edition collectible stamp on Nov. 2, 2023. A classic self-adhesive stamp will come with a digital image — an NFT representing ownership of the stamp.

The first stamp features a pixellated image of the Brandenburg Gate generated by artificial intelligence (AI). Upcoming stamps in the collection will feature other iconic German landmarks.

It remains to be seen whether the NFT stamp collection will be a commercial success. However, it is a significant step for Deutsche Post, which is looking to expand its reach into the digital world.

Erste offizielle Deutschland-#Krypto-#Briefmarke kommt. Mehr: https://t.co/IqcouOeygG pic.twitter.com/XS4y5nkFCo
— Deutsche Post und DHL News (@DeutschePostDHL) October 12, 2023

Lufthansa takes to the skies with NFT art

NFTs can also be used for various loyalty programs, offering customers a more rewarding and engaging experience while providing businesses with a new way to connect with their customers and build brand loyalty.

An example of such a program is Lufthansa’s NFT loyalty program on the Polygon network. In collaboration with Lufthansa Innovation Hub and Miles & More, its frequent flyer program, Lufthansa has developed the Uptrip mobile application that allows passengers to turn their travel experiences into NFTs. These NFTs can then be redeemed for rewards such as mileage bonuses and business lounge vouchers.

Lufthansa's @Uptrip_app loyalty program is building #onPolygon to turn flights into rewards
Collect NFT trading cards for every flight and claim rewards

Learn more about the new Miles & More and @LHInnovationHub experience: https://t.co/MjQihK8xUx pic.twitter.com/JfUEoUJxNR
— Polygon (Labs) (@0xPolygonLabs) August 31, 2023

According to Christopher Siegloch, head of program development and services at Miles & More, the app has already generated significant interest among Lufthansa customers. Since its launch, over 20,000 users have registered, and more than 200,000 collectible cards have been issued. Siegloch highlights that gamification elements play a crucial role in introducing participants to Web3 technologies like NFTs, and the app successfully translates the enthusiasm for collecting into the digital realm.

Furthermore, in the second half of 2023, the app will introduce a digital marketplace where users can trade and sell their NFTs, with special NFT reward offers planned for the future.

Adidas and Hugo Boss reimagine fashion

NFTs are also reaching out to fashion brands. For example, German apparel company Adidas continues to refine its Web3 strategy by actively using NFTs to find new ways to engage with its community of athletes, sneakerheads and sports enthusiasts.

Recently, Adidas introduced a series of limited-edition NFT sneakers inspired by their iconic footwear designs. These digital sneakers can be showcased in virtual environments, allowing users to express their love for the brand in the metaverse.

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Adidas is also discovering new ways to use the full potential of NFT to encourage its community. The last example is The Adidas /// Studio, or Triple Stripes Studio, which launched a Web3-based digital artist-in-residency program to showcase and support budding creators in the NFT space. According to Adidas, the goal is to support and nurture creative talents in the digital realm, providing artists with an opportunity to showcase their work and collaborate with the sportswear giant. This collaboration extends beyond digital projects and may include physical products in the future.

Another German fashion brand, Hugo Boss, has also entered the NFT arena with a focus on fashion in the metaverse. The company collaborated with renowned digital fashion designers to create a series of exclusive NFT clothing items. These digital fashion pieces can be worn by avatars in virtual worlds, allowing users to dress in style even in the digital realm.

Mercedez-Benz digitalized its history

Mercedes-Benz boasts a rich history spanning more than 130 years, attracting a dedicated following of nostalgia enthusiasts and collectors. The brand’s iconic models, vintage cars and related artifacts, whether in their original form or as miniature models and toys, continue to hold appeal. In line with its strategic direction, the German automaker is venturing into the Web3 space through the launch of Mercedes-Benz NXT to enhance its engagement with the community.

In September, Mercedes-Benz launched its third NFT collection: The Era of Luxury. These collectibles created by Mercedes-Benz NXT Icons are digital reinterpretations of the most remarkable designs from seven design eras. The collection spans from the present day to the early history of automobiles.

1/ What a fantastic reveal on Wednesday! In this thread, we would like to show you a selection of combinations of the Mercedes-Benz NXT Icons from “The Era of Luxury”.

Let us start with Mercedes-Benz NXT Icons #41 collected by Pakwalker. ↓ pic.twitter.com/ogyubfA9M8
— Mercedes-Benz NXT (@MercedesBenzNXT) September 29, 2023

All three NFT collections show how Mercedes-Benz actively explores opportunities to blend the digital realm with automotive design. This endeavor is spearheaded by the brand’s chief design officer, Gorden Wagener, who guides the Mercedes-Benz design team in creating digital collectibles. The primary objective is to reinterpret the brand’s most iconic designs, presenting them in the digital format of NFT cards.

Ritter Sport, Haribo and Katjes create sweet NFTs

Ritter Sport, a German chocolate brand, also ventured into the NFT world by launching a limited series of digital chocolate bars as NFTs in August 2023. The NFT collection is called Art of the Square and consists of 256 digital pixel art pieces, each depicting a square Ritter Sport bar.

gm! Ganz im Sinne von Clara Ritter haben wir eine Kollektion an Digital Collectibles entworfen: „Art of the square“ geht am 23.08. um 16 Uhr in den Verkauf, die Allowlist ist schon online! Hier entlang: https://t.co/oSYzlJqKb8 & https://t.co/WnzbYI3c71 #web3 #digitalart #hodl pic.twitter.com/9gIEcKpkNe
— ClaraRitter.eth (@clararittereth) August 9, 2023

Not only Ritter Sport uses such creative marketing strategies to engage with a tech-savvy audience. Other German food brands have also released their NFT collections. For example, confectioner Katjes released its NFT collection of three unicorn babies named Dash, Willow and Sparkles in April 2023.

This was Katjes’ second NFT campaign after releasing a limited-edition collection of 777 unicorn NFTs in May 2022. Both campaigns were a way for Katjes to reach a younger audience, as unicorn babies are a popular character among children and teenagers.

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Haribo, a German confectionery company famous for its gummy bears, has also entered the NFT world. In April 2023, the company filed for NFT trademarks in the United States, indicating its plans to expand its brand into the digital world. The trademarks cover a wide range of digital assets, including digital avatars, multimedia files with confectionery-related artwork, cartoons and other items authenticated by NFTs.

German confectionery company #HARIBO has registered its name as a trademark for:

✅ Smartwatches
✅ VR Glasses
✅ Media verified by NFTs
✅ Jewelry and Toys

... and much more!#NFT #MetaverseNFT #GoldBears #Trademark #Candy #NFTs #VR pic.twitter.com/y7WqNVJC7c
— Mike Kondoudis (@KondoudisLaw) April 26, 2023

Adidas, Haribo, Lufthansa, Deutsche Post and other traditional German brands have joined the growing list of businesses venturing into the NFT space. This expansion marks a significant shift in the perception of NFTs, as they are no longer viewed solely as a niche investment opportunity.

Instead, NFTs are increasingly being seen as a mainstream marketing tool and a way to experiment with new concepts that bridge the virtual and physical worlds and build new communities.

Head of Portugal central bank deems crypto unsustainable, calls for global regulation

October 3, 2023 Coin Telegraph

Coin Telegraph

Mário Centeno praised the European Union’s first comprehensive crypto framework, MiCA, but insisted on further international consolidation of regulatory efforts.

Mário Centeno, the governor of Banco de Portugal, joins a chorus of regulators claiming that national efforts to oversee crypto wouldn’t work correctly without a global framework.

*A section of Mário Centeno’s speech. Source: Publicnow.com*

In his opening speech at the 2023 Banco de Portugal Financial Stability Conference on Oct. 2, Centeno called for international cooperation to set up a “robust framework” and avoid the possibility of “regulatory arbitrage:”

“It would be short-sighted to believe that regulating and supervising these global risks and international players at the national level will suffice.”

Speaking of crypto assets and decentralized finance, Centeno mentioned the “undeniable risk” of their inviability in the long run. The official expressed his disbelief in the democratizing potential of digital assets and even their ability to ultimately survive:

“These volatile products experienced an enormous surge in popularity during the COVID-19 pandemic but proved to be unsustainable and, unsurprisingly, culminated in the collapse of several products.”

Centeno praised the European Union’s first comprehensive crypto framework, the Markets in Crypto-Assets (MiCA) regulations, but insisted on further international consolidation of regulatory efforts under the principle of “same risk, same regulation.”

Roughly the same sentiment was recently expressed by the executive director of strategy, policy and control at the German Federal Financial Supervisory Authority. In a blog post, Rupert Schaefer acknowledged the apparent progress in regulating crypto with MiCA adoption in the EU but prompted about the inconsistencies existing on a global scale.

In August, Indian Prime Minister Narendra Modi also called for global collaboration on formulating crypto regulations during the annual G20 summit.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Tether acquires stake in Bitcoin miner Northern Data, hinting at AI collaboration

September 21, 2023 Coin Telegraph

Bitcoin mining

The strategic investment into Northern Data through Tether group company Damoon may involve collaborations leveraging AI, P2P communications, and data storage solutions.

The firm behind stablecoin Tether (USDT) has invested an undisclosed amount into German-based crypto miner Northern Data Group in a move backing artificial intelligence (AI) initiatives.

In a Sept. 21 blog post, Tether said the strategic investment into Northern Data through Tether group company Damoon was intended to demonstrate “its determination to support emerging technology”, hinting at collaborations involving AI, peer-to-peer communications, and data storage solutions. The company denied a report from Forbes regarding a $420-million investment, but did not specify the exact amount when reached for comment. Cointelegraph also reached out to Northern Data, but did not receive a response at the time of publication.

Northern Data announced in July that it had reached an agreement with Tether to acquire Damoon, a deal in which the stablecoin issuer “agreed to capitalize Damoon prior to completion of the acquisition with the funds needed to acquire latest-generation GPU hardware". Tether chief technology officer Paolo Ardoino described the investment as a ”fresh venture into new technological frontiers”.

Tether Makes Strategic Investment into Northern Data Group - Set to Become the Biggest Independent AI Player in Europe

Read more:https://t.co/L4F6V10ruk
— Tether (@Tether_to) September 21, 2023

Tether claimed the investment was “separate from [its] reserves” and would not impact customer funds. The firm previously faced legal action in the United States following accusations it had not been fully transparent about its reserves, resulting in millions of dollars in fines and orders to provide reports on USDT’s backing.

As the largest stablecoin issuer by market capitalization at more than $83 billion, Tether has made many investments globally, from partnering with KriptonMarket in Argentina to signing a memorandum of understanding to help develop peer-to-peer infrastructure with the government of Georgia. In August, Ardoino revealed some of the firm’s mining operations were based in Latin America, though it's unclear if they could expand to Germany following the deal with Northern Data.

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German crypto regulator calls for global rules to also govern niche finance centers

September 19, 2023 Coin Telegraph

BIS

BaFin's top executive stresses the risks of crypto and calls for global regulation to apply to all financial centers, without exceptions.

While the European Union has made significant progress toward regulating crypto by approving its comprehensive framework, Markets in Crypto Assets (MiCA), the need for global regulation still remains, according to one of the top executives of the German Federal Financial Supervisory Authority (BaFin).

In a blog post on Sept 18, Rupert Schaefer, Executive Director of Strategy, Policy and Control at BaFin, highlighted the importance of unitary global regulation of the crypto industry.

Citing the unfortunate example of the FTX, Schaefer compared regulators to air traffic control, and “some crypto assets and decentralized finance projects” to unidentifiable flying objects.

Schaefer acknowledged the obvious progress in regulating crypto with MiCA adoption in the EU, the Financial Stability Board’s (FSB) and the International Association of Securities Commissions’ (IOSCO) sets of recommendations, as well as the Basel Committee's new international supervisory standard for treatment of cryptoasset exposures.

However, the official reminded about the inconsistencies existing on a global scale, where there is still a place for exceptions from global regulatory push:

“Now the common principles must be implemented consistently and consistently worldwide. There should be no white spots in the flight radar: the global rules should also apply to niche financial centers.”

The same sentiment was recently expressed by Indian Prime Minister Narendra Modi who pushed for global collaboration on formulating crypto regulations among G20 member states.

Meanwhile in Germany, as in a number of other European markets, the crypto and blockchain sector became a leader among the fintech companies in investments, attracted during the first half of 2023.

Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines

Germany proposes screening Chinese investment in AI and related sectors: Report

August 22, 2023 Coin Telegraph

China

The German government proposed tighter export controls on China for semiconductors and AI technology similar to measures from U.S. regulators.

The vice chancellor of Germany has reportedly proposed tightening the screening process for foreign direct investment from China, according to reports from local media outlets.

Rober Habeck, a member of the Green coalition and federal minister for economic affairs and climate action, said the tightening of restrictions on Chinese foreign investment would be in “critical sectors,” which include semiconductors and artificial intelligence (AI).

It aims to consolidate and simplify a number of existing rules pertaining to sectors in which China is dominant, such as those mentioned above. He also reportedly proposed cracking down on Chinese efforts to bypass existing rules.

This proposal comes a month after comments from Annalena Baerbock, Germany’s minister for foreign affairs, during a speech warning of China becoming increasingly “repressive internally and more aggressive externally.”

China hat sich in den letzten Jahren so rasant verändert, wie vielleicht kein anderes Land. Wer #China zuhört, weiß, mit welchem Selbstbewusstsein es die Entwicklung dieses Jahrhunderts prägen wird. Mit der #ChinaStrategie geben wir uns für unsere Beziehungen den Kompass. 1/5
— Außenministerin Annalena Baerbock (@ABaerbock) July 13, 2023

Reportedly, the measures proposed by Habeck don’t focus on outbound investment into Chinese tech industries. This, however, was of primary focus in recently finalized rules coming from the United States, which are being considered by many European countries, including Germany, France and the United Kingdom.

The proposed legislation is awaiting remarks from various government departments before becoming official. German officials are also in the process of discussing AI regulations.

Germany is the largest economy in Europe and China is its largest trading partner, according to official statistics from the German government.

Cointelegraph reached out to the German Ministry of Economic Affairs and Climate Action for further comments.

These moves out of Germany follow an ongoing quid pro quo regarding AI development and deployment between China and the United States.

After multiple instances of the U.S. tightening export controls and investment opportunities, China announced it would be tightening controls around the export of crucial chip-making materials.

The U.S. then responded by revealing plans to restrict China’s access to cloud computing services. Most recently, it has released a series of new rules regarding investments both from and to China in these two “critical sectors,” among others.

Meanwhile, in China, lawmakers have officially released and implemented regulations surrounding the development and deployment of AI in the country.

Magazine: Real reason for China’s war on crypto, 3AC judge’s embarrassing mistake: Asia Express

Kenya forms parliamentary committee to investigate Worldcoin

August 21, 2023 Coin Telegraph

Coin Telegraph

The controversial crypto project’s launch has been marred into controversy and it's already facing investigations in nearly half a dozen countries.

The Worldcoin cryptocurrency project has run into another roadblock, this time in Kenya where the government has formed a 15-member parliamentary committee to investigate the controversial asset.

The Kenyan government formed a 15-member parliamentary committee headed by Narok West MP Gabriel Tongoyo to look into the controversial crypto project, reported a local daily. The parliamentary committee has 42 days to investigate the project and submit its report to the House committee.

Cointelegraph reached out to the MP to get some insights into their concerns and case against Worldcoin but didn’t get a response by publishing time.

The parliamentary investigation into the crypto project comes nearly three weeks after Kenya suspended Worldcoin's operations after the project failed to comply with government orders to stop scanning users' iris.

The Interior Cabinet Secretary Kindiki Kithure who has played a key role in suspending Worldcoin operations told the House committee that the government is concerned by Worldcoin's activities registrating citizens and collecting eyeball/iris data, all of which he claims pose serious security risks.

Apart from the parliamentary committee, the Worldcoin project has faced an all-out rejection from the various regulatory bodies in Kenya. The court also suspended Worldcoin’s activities after a case filed by the office of the data commissioner. The court ordered that the data already collected by Worldcoin between April last year and August 2023 must be preserved pending completion of the lawsuit.

Worldcoin, a digital ID-focused crypto project that offers its native cryptocurrency WLD coin for scanning the iris of users, launched amid controversies and hype. The project onboarded nearly 2 million users during its trial phase. However, as the project launched for the public in more than a dozen countries, various reports of the project's controversial tactics surfaced, prompting governments in Nigeria, the UK, Argentina, Germany and Kenya to investigate the project.

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Germany is dragging Europe’s economy down — and that’s great for crypto

August 4, 2023 Coin Telegraph

Bitcoin Price

Cointelegraph analyst and writer Marcel Pechman explains how a weakening German economy — Europe’s largest — is a positive for cryptocurrencies.

In the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman discusses the recession in Germany, Europe’s largest economy. According to a recent headline in The Wall Street Journal, “Germany is dragging down Europe’s economy.“ The article explains how the country heavily depends on manufacturing, which has been hurt as foreign governments rush to protect domestic industries.

According to Pechman, Germany’s gross domestic product (GDP) ranks fourth globally, 42% bigger than France’s GDP. Moreover, manufacturing is responsible for nearly 20% of its economy. To make things worse, the manufacturing industry in Germany employs 10% of the workforce.

As the surplus (exports minus imports) reached its lowest level in 23 years, it is causing a GDP contraction for Germany, which affects the government’s capabilities to pay for its costs, including pensions and public workers. Pechman then shows how the German government threw gas on the fire with recurring interventions to save the manufacturing industry.

Pechman reminds us that the euro has a mere seven-year head start versus Bitcoin (BTC) and that an eventual weakening of Germany represents a considerable risk for the European Central Bank and the euro. Consequently, regardless of how the United States dollar is doing, the euro represents a more imminent risk and is potentially positive for cryptocurrency adoption.

Shifting the focus to the Asian market, Japan’s central bank has raised the interest rate buyback cap to 1%. According to Pechman, the bank is trying to convince the markets that it is not raising interest rates, but that’s precisely what happened. The Japanese economy has been stagnant for the past 20 years, and its debt ratio has been above 200% of the GDP since 2010.

According to a Bloomberg article, “Japanese investors are major holders of US government bonds and own everything from Brazilian debt to European power stations.“ According to Pechman, the rest of the world is concerned that Japan will have to offload its holdings in bonds, stocks and other assets, likely causing a crash in those markets.

The conclusion is that global economies are strongly interconnected, evident after the U.S. helped Europe during the banking crisis of 2023 by offering special liquidity agreements. Pechman says that at some point, the trust in this system will break, regardless of the trigger. That’s why positioning in Bitcoin makes sense, even though it is impossible to predict the timing of those events.

Check out the full episode of Macro Markets exclusively on the new Cointelegraph Markets & Research YouTube channel, and make sure to like and subscribe today!

Germany

Deutsche Post combines NFTs and AI

Lufthansa takes to the skies with NFT art

Adidas and Hugo Boss reimagine fashion

Mercedez-Benz digitalized its history

Ritter Sport, Haribo and Katjes create sweet NFTs

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