News Snapshot:
The co-founder and CEO of embattled crypto exchange platform BitMEX says that he’s rebalancing his portfolio in favor of leading smart contract platform Ethereum (ETH). In a new essay , Arthur Hayes says that unlike top blockchain Bitcoin (BTC), Ethereum is not a cryptocurrency that can be used as money, but rather an asset of the planet’s biggest decentralized network. “Ethereum is not money, it is a commodity that powers the world’s largest decentralized computer… The Ethereum community clearly decided that ETH is a commodity used to power this computer, not a pure monetary instrument.” Hayes notes that at the...
