Advertisement

Advertisement

Home opinion

Crypto Weekly Roundup: ‘Bitcoin City,’ FUD In India, ‘NFT’ Word Of The Year, And More

Crypto Weekly Roundup: ‘Bitcoin City,’ FUD In India, ‘NFT’ Word Of The Year, And More

A new bill seeking to regulate all cryptocurrencies in India was recently introduced in the Parliament. This has caused widespread panic and FUD, leading to a sharp drop of leading cryptos like BTC and ETH. Let’s find out more about this and the other exciting events in the global crypto and blockchain markets in the last week. 

Bitcoin

El Salvador, the first and only country to use BTC as legal tender, will be looking into building an oceanside ‘Bitcoin City’ at the base of a volcano. 

Los Angeles Rams’ new wide receiver, Odell Beckham Jr., has announced that he will be receiving his full salary in Bitcoin, thanks to his partnership with CashApp.

Kazakhstan is considering turning to nuclear power to address the issues faced by the power grid due to the influx of Bitcoin miners into the country after the Chinese ban on cryptocurrencies. 

Business

A parcel estate of virtual real estate in the Decentraland metaverse has sold for a record $2.4 million leading the MANA token to reach an all-time high shortly after the sale.

Fintech firm Stripe is considering re-introducing blockchain integration and cryptocurrency payments almost three years after closing their Bitcoin payment option. 

Crypto exchange and blockchain services firm Coinbase has acquired BRD Wallet, a free and open-source crypto wallet platform.

French football league club AS Monaco has partnered up with Chiliz, the leading blockchain service provider in the sports and entertainment industry, to launch the $ASM Fan Tokens on Socios.com. 

Altcoins

Israel-based crypto exchange eToro has announced that it will be removing the two cryptocurrencies, ADA and TRX, from its listings for US customers. 

After losing the first parachain auction to Acala, Moonbeam has announced that it has won the second Parachain auction, thanks to a hugely successful crowd loan campaign. Moonbeam’s community contributed over 35 million DOT ($1.4 billion) to help Moonbeam secure the slot. 

Solana, a high-performance blockchain designed for energy efficiency, recently published its Energy Use Report, which detailed how its design decisions for its blockchain protocol have created an impact on the crypto industry.

Regulation

Former presidential candidate Hilary Clinton has warned of the dangers of allowing new technologies, including cryptocurrencies, to go on unregulated. She claimed that crypto markets needed regulation to prevent manipulation from nations such as Russia and China.

According to a LocalCircles survey, 71% of Indians have little or no confidence in cryptocurrencies, with one in every two Indians standing against crypto legalization in the country. 

Bank of England governor Andrew Bailey has termed El Salvador’s decision of adopting Bitcoin as legal tender “concerning,” adding that its volatility would catch out citizens and users of BTC in the country.

NFT

The Christies and OpenSea collection is open for viewing from 1 December and will feature artists such as Andre O'Shea, Recur, Oseanworld, GMUNK, Ash Thorp, and others.

According to Collins dictionary, the word “NFT” is the new word of the year after pushing down “crypto” to a second position. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Tags: 

Advertisement

Advertisement