Governments are looking into regulating the currently decentralized cryptocurrency space, and that’s a good thing for the market.
So said Fortune senior writer Jen Wieczner.
“I think it’s going to be very good for prices, because you’re going to allow for investment in big companies that have already embraced regulations,” she said in an interview with Cheddar Friday. “I think you have a lot of investors now, especially institutional investors, who are waiting on the sidelines, because they don’t want to be involved in a scam or their compliance department don’t allow them to.”
Mexico was the latest to crack down on money laundering and illegal activities in cryptocurrency. Reuters reported the proposed legislation, which is waiting for approval from President Enrique Peña Nieto, will regulate fintech and promote financial stability in cryptocurrency.
Similarly, the SEC launched a probe into the operations of American tech companies handling crypto this week. The Wall Street Journal reported that the watchdog is looking into the process of Initial Coin Offerings, trying to weigh whether firms have been violating securities laws.
Wieczner said that some companies will not stand up to the scrutiny.
“For some of them, regulation is likely going to completely knock them out,” she said.
From the TikTok boom to social commerce shopping to livestreaming events, social media trends took on all different shapes and sizes this year. Stephanie Humphrey, technology and lifestyle expert, joined Cheddar to discuss the biggest fads of the year, as well as what to expect for next year.
If 2021 is any indication, 2022 will be a big year for social media. TikTok reached 1 billion users this year and is expected to grow even bigger. We got our first look at the Metaverse, NFTs soared in popularity, and the crypto craze starting hitting its stride - just to name a few fads. Mark Douglas, CEO and Founder of MNTN, joined Cheddar to discuss if these trends could continue, or if we'll see some surprises in the year ahead.
2021 was a big year for big tech, but it was also a wake-up call for the government. Lawmakers are still struggling to figure out how to regulate big tech companies as they grow bigger and get even more powerful. Evan Greer, director of the digital rights organization Fight for the Future, joined Cheddar to discuss key takeaways from the year, as well as what we can expect for big tech and regulation in 2022.
Bumble users are remaining active on the dating app and still linking up with potential matches despite the emergence of the omicron variant of COVID-19. CEO Whitney Wolfe Herd noted that no matter what is happening in the world, people will always need to connect.
There seems to be no stopping the crypto craze, and this week has been no exception. Dogecoin surged after ‘Time Person of the Year' Elon Musk tweeted that Tesla will accept some payments in the digital token. Everett Millman, Crypto & Metals Analyst at Gainsville Coins, gives Cheddar insight into just how much influence Musk has over the crypto world.
As the world of crypto evolves, the need from investors for some type of stability within crypto is also growing. Enter stablecoins. Stablecoins serve as a crypto-equivalent which hold their value, and allow investors to quickly move their profits across currencies. Patrick McConlogue, CEO of Overline and former Citadel Investment Group engineer, explains what to expect ahead of the U.S. Senate Banking Committee’s stablecoin hearing, as regulatory tensions between the crypto market and the government continue to hover in limbo.
Carlo and Baker cover the latest data showing the Omicron wave has likely started, Pfizer's Covid pill, Jan. 6 and a box office rescue attempt courtesy of Spider-Man.
