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Month in Review — September 2022

Welcome to Month in Review, where the team behind STASIS & EURS shares updates from the past month and some thoughts on key events and issues in the cryptocurrency, DeFi & stablecoin space. Sign up to receive it here.

About the STASIS Newsletter

Your inner circle might often ask you: what’s your final destination in the crypto space? New information is raining cats & dogs in crypto. If you want to stay tuned on what’s going on in this chaotic realm and not get overwhelmed with confusing information of all sorts, please subscribe to our newsletter!

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Uneasy Red September Opens the Autumn Show

Welcome to Autumn! Are you back from the holiday, expecting an encouraging newsfeed? Not likely. Just as the leaves on the trees outside the window turned red, the crypto market continued its steady decline. The market hasn’t recovered after the devastating showdown earlier this year.

Aside from the highly-expected milestone in the Ethereum ecosystem development — the Merge — this September was packed with all sorts of negative news.

First of all, ⁠an expected interest rate hike by FED continues to rattle the crypto market. The Federal Reserve has once again increased interest rates by another 75 basis points to tame multi-decade highs in inflation. It looks like turbulent times ain’t going to be over soon, folks.

In addition, the bearish trend doesn’t seem to lose power as investments continue to be on a steady decline as the latest data suggests. For the first time since the beginning of 2021, the rate of project financing has sharply decreased by 3 times per quarter. Funds began to select projects more carefully, cutting the opportunity for startup teams, as this is no longer possible to raise $50–100 million just by adding the prefix “meta” to the brand’s name.

A never ending depressing picture of the market unraveled many problems in the crypto realm regarding the “crème de la crème” of the crypto industry. Not only Bitcoin-maxi Michael Saylor lost the throne: we saw the resignation of the FTX.US President Brett Harrison, Celsius founder Alex Mashinsky reportedly withdrew $10M before bankruptcy filing, and even Kraken CEO Jesse Powell Is Stepping Down.

Infamous creator of the Terra ecosystem and the mastermind behind LUNA, Do Kwon was targeted last month by authorities due to an arrest warrant. Recently, he told more than one million Twitter followers that he had not seen his name on Interpol’s Red Notice list, but not all names are made available to the public. Meanwhile, the community-driven move to bring the original Luna back from the grave by implementing the cryptocurrency burn tax turned out to be a circus of its own.

However, despite the overall depressing background, some good news made the way to headlines. More cases on government stablecoin development arise as Australia plans to run a CBDC pilot in 2023. After successful implementation of the Digital Yuan, it seems that other countries will advance on this front faster and people will soon enjoy digital currencies available in their everyday lives during this decade.

The apex of DeFi, Curve Finance plans to launch native stablecoin. Curve is planning to roll out its own stablecoin — crvUSD and its preliminary code for the token has already been uploaded on GitHub.

Next, the real world seems to heavily advance into the NFT realm despite the hype cooldown as Starbucks partnered with Polygon to offer an NFT-based loyalty program. We’re seeing another great example of how blockchain tech can disrupt existing industries and can be used for things beyond money transfers or investments.

Meanwhile, the STASIS team is working hard to deliver some exciting updates next month, all user-centric ones. Thanks for bearing with us! More updates on what we’ve achieved down below!

Project News

Despite the slow period after vacations, we managed to secure new partnerships.

STASIS x SimpleHold

We are pleased to further expand our partner network!

SimpleHold is a secure crypto wallet and pass to crypto universe. Start collecting NFTs, storing, receiving, sending & swapping 200+ currencies today. Use your crypto assets to the fullest!

Store your EURS in SimpleHold ➡️ https://click.simplehold.io/0nEk/5k5fi3r7.

Stay tuned for more updates regarding this partnership!

STASIS X Guarda

Stablecoin issuer platform STASIS and European wallet developer Guarda announced a partnership in September by launching support for the largest crypto euro — the EURS stablecoin.

The STASIS-issued stablecoins is now available in one of the most popular cryptocurrency wallets. Read more about partnership here. Do expect some cool news soon!

Thanks for bearing with us!

Thanks for reading this letter and staying with us! The usually slow period is now over as we’re approaching the beautiful period of Uptober. Yes, you heard that right! We expect the second month of Autumn to be packed with more exciting revelations. Our team is refreshed and ready to handle more ambitious tasks than ever before!

Before you leave, subscribe to “Month-in-review” Digest to stay updated on what’s coming in the crypto world, and read our “Month in Review” to read the 4-week summary of our achievements!

Moreover, make sure you subscribe to our socials on Telegram, Facebook, Twitter, and LinkedIn to stay tuned to what we’re up to!

Thanks for reading the STASIS Blog! Want to learn more about what we do? Check out our website, or download the STASIS Wallet.

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Spearheading crypto and beyond. Marketing supremacy and future-driven tech content production.