Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. MetaMask's Debit Card with Mastercard: MetaMask, in partnership with Mastercard and Baanx, has launched a pilot self-custody debit card in the UK and EU.

2. Circle CEO on Harris Crypto Campaign: Circle CEO Jeremy Allaire talks about Harris’ campaign's growing interest in cryptocurrency policies ahead of the 2024 U.S. elections.

3. 📈Technical Analysis Masterclass - Recent inflation data shows a decrease, yet the cryptocurrency market remains stable. Watch UseTheBitcoin’s latest Youtube video “Inflation Eases, But Crypto Market Remains Unmoved” and see how this data could influence crypto or join our Official Telegram Channel for more alpha!

4. Crypto.com x UEFA Champions League: Crypto.com has partnered with the UEFA Champions League as its official global sponsor, a move expected to boost cryptocurrency adoption.

5. 💡Feature of the Day - Telegram Creators Way to Earn TON: Telegram has introduced a feature allowing content creators to earn Toncoin (TON) through in-app reactions called Stars, which can be converted into TON or used for advertising.

   
   All this and more in today’s headlines!

📰 News Highlights:

MetaMask's Debit Card with Mastercard [Source][Source][Source]

MetaMask, the popular decentralized finance (DeFi) wallet, has partnered with Mastercard and digital payments company Baanx to launch a pilot self-custody debit card program in the UK and the EU.

This initiative aims to provide over 1 billion unbanked individuals, as identified by the World Bank, with access to banking services. The new debit card allows users to self-custody their funds until the transaction is processed, converting their digital assets into fiat for payment at various retail outlets.

The card offers flexibility in terms of crypto assets used for payment, and users can set spending limits via the Linea network.

Lorenzo Santos, a senior product manager at Consensys, explained that transactions are processed through an on-chain transaction system that authorizes payments through a "Crypto Life" smart contract, finalized over Mastercard’s network.

While currently restricted to European markets, this pilot could significantly impact financial inclusion globally by providing essential banking services to those in high inflationary environments.

Circle CEO on Harris Crypto Campaign [Source]

Circle CEO Jeremy Allaire has highlighted the Harris campaign's efforts to better understand cryptocurrency policies ahead of the 2024 U.S. elections. Following an August 8 video call with industry leaders, White House officials, and U.S. lawmakers, Allaire shared that the Harris campaign is actively engaging with the crypto industry.

Allaire described crypto as a "purple" issue, gaining attention from both Democrats and Republicans.

As Harris and Trump prepare for a televised debate on September 10, Harris is reportedly leading in key battleground states, according to Polymarket.

📈Technical Analysis Masterclass:

Inflation Eases, But Crypto Market Remains Unmoved

Key Takeaways from the Inflation Report

• Inflation Rate Drop: Inflation has decreased to 2.9%, the lowest since 2021, aligning with Wall Street’s expectations.

• Interest Rate Implications: This decline could prompt the Fed to consider cutting interest rates, reducing borrowing costs and potentially boosting spending and investment.

Impact on Cryptocurrency

• Alternative Investments: Lower interest rates might reduce returns on traditional investments like bonds, leading investors to explore alternative assets such as cryptocurrencies.

• Increased Capital Inflows: If rate cuts occur, the crypto market could see increased demand, potentially lifting prices.

Institutional Interest in Bitcoin

• Goldman Sachs Investment: Goldman Sachs reported holding over $400 million in Bitcoin ETFs during Q2, highlighting growing institutional interest.

• Market Maturation: Institutional involvement, especially from major financial players, adds legitimacy and confidence to the crypto market, attracting more investors and contributing to market stability.

Market Outlook

• Cautious Observations: Despite positive inflation data, the crypto market remains subdued as investors wait to see the Fed's next moves and other economic indicators.

• Future Trends: The possibility of rate cuts raises questions about their impact on cryptocurrencies. A lower interest rate environment could enhance the appeal of crypto investments relative to traditional assets.

Crypto.com x UEFA Champions League [Source][Source]

Crypto.com has taken a significant step in its mission to expand its user base by securing an exclusive partnership with the UEFA Champions League, one of the world’s most popular sports leagues.

Announced on August 14, this multi-year partnership makes Crypto.com the official global sponsor of the UEFA Champions League, a move expected to significantly boost cryptocurrency adoption among mainstream users.

According to Steven Kalifowitz, Crypto.com’s Chief Marketing Officer, the partnership aligns with the company’s strategy of connecting with engaged sports fans, which has already helped grow its user base to over 100 million.

Kalifowitz believes that large sporting events like the UEFA Champions League can introduce millions of new users to cryptocurrency, potentially driving substantial capital into the crypto market.

💡 Feature of the Day: 

Telegram Creators Way to Earn TON [Source][Source]

Telegram is deepening its involvement in the crypto space by introducing a new feature that allows content creators to earn Toncoin (TON), the native cryptocurrency of The Open Network.

Announced recently, users can now send reactions in Stars—an off-chain, in-app currency tied to TON—to content creators, who can then convert these Stars into TON or use them for advertising.

This feature is part of Telegram’s broader strategy to become a crypto-friendly platform, with nearly 1 billion users worldwide.

This move allows Telegram to integrate more crypto features without directly managing the network, aligning with its vision of creating a versatile platform for both messaging and crypto transactions.

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And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com