Warren Buffett raised eyebrows this week when his agency, Berkshire Hathaway, upped its exposure to United States Treasury bills. If you’re one of the few remaining bulls out there, Buffett’s flight to safety is concerning because it signals that the Oracle of Omaha would rather get a 3% yield instead of playing the stock market. If equities go belly-up in the fall, as I’ve been predicting for months, count on Bitcoin (BTC) to comply with.

Wanting on the numbers, Berkshire’s T-bill publicity grew to $75 billion on the finish of June, up from $58.5 billion firstly of 2022. However, even with the 28% spike, Berkshire doesn’t maintain as many T-bill investments because the main stablecoin issuers. Stablecoins presently command a market capitalization of $153 billion, and a big share of their backing comes from T-bills. That is simply one other reminder that stablecoins are critical enterprise.

Stablecoin issuers maintain extra US debt than Berkshire Hathaway: Report

Warren Buffett’s Berkshire Hathaway holds an enormous quantity of short-term U.S. debt. Effectively, stablecoin issuers maintain extra. In accordance with information from JPMorgan, stablecoin issuers Tether, Circle and others maintain $80 billion price of short-term Treasury payments, in contrast with $74 billion for Berkshire Hathaway. These huge sums gather curiosity from the U.S. authorities, permitting holders to earn a passive revenue. When you’re stunned by this improvement, don’t be — stablecoins are a pressure to be reckoned with and are paving the best way for mass crypto adoption.

Iconic manufacturers together with Nike, Gucci have made $260M off NFT gross sales

Nike, Adidas, Gucci, Dolce & Gabbana, andTiffany & Co. — these firms have discovered actual worth and utility in nonfungible tokens (NFTs). Business information revealed this week that these firms generated a mixed $260 million in NFT gross sales. Nike’s income from NFTs amounted to a whopping $185.3 million, with volumes in secondary markets hitting practically $1.3 billion. Whereas no person denies how badly the NFT market has cratered in current months, the world’s most iconic manufacturers have efficiently included novel expertise into their enterprise engagement efforts. Anticipate much more NFT-focused buyer engagement sooner or later.

Nike’s NFT-related tasks have revamped $185M in income, positioning it as the most important incomes model from NFTs.@DuneAnalytics dashboard by @nlevine19. pic.twitter.com/UDD90kz8Af

— NFTgators (@NFTgators) August 22, 2022

DBS financial institution studies 4x progress in Bitcoin buys on DDEx trade in June

Are savvy buyers quietly shopping for the Bitcoin dip utilizing buying and selling platforms developed by main banks? Information from DBS Financial institution suggests so. The financial institution’s DDEx trade noticed an enormous inflow of patrons in June, as buyers seemed to capitalize on plunging BTC and Ether (ETH) costs. In truth, between April and June, BTC purchase orders on the trade rose by an element of 4. Whether or not these patrons turn out to be diamond-handed hodlers or speculators is but to be seen. However, within the depths of crypto winter, it’s a constructive signal nonetheless.

Bug bounty quadruples for Ethereum community — As much as $1M payouts forward of Merge

With pleasure and trepidation in full swing forward of Ethereum’s extremely anticipated Merge, the inspiration behind the sensible contract platform has introduced a $1 million bounty program to incentivize white hats to uncover “essential bugs” on the blockchain. The bounty program displays the high-stakes nature of the upcoming Merge, which is tentatively scheduled for Sept. 15. When you’re an ETH holder, all it’s worthwhile to do is sit again and loosen up — and maintain a detailed eye on scams.

Don’t miss it! What crashed the crypto aid rally?

What seemed like a promising aid rally rapidly turned bitter final week, as Bitcoin plunged from a excessive close to $25,000 all the best way again to $21,000. The place does crypto go from right here? On this week’s Market Report, I sat down with fellow analysts Marcel Pechman and Benton Yaun to debate the current worth actions available in the market. I additionally warned about September and October being risky months for conventional finance — and therefore crypto. You may watch the complete replay beneath.