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Crypto Weekly Roundup: BTC Paychecks For Mayors, $1B TRON Fund, Barca And Red Bull Racing Launch NFTs, And More

Crypto Weekly Roundup: BTC Paychecks For Mayors, $1B TRON Fund, Barca And Red Bull Racing Launch NFTs, And More

The aftereffects of the BTC surge are still being felt in the industry, as a backlog of crypto transactions on Binance forced the exchange to stop withdrawals temporarily. Keep reading to find out more about what else happened in the world of crypto and blockchain in the last week. 

Bitcoin

Miami’s Mayor Francis Suarez announces intentions to become the first politician ever to receive 100% of his paycheck in Bitcoin

Following Mayor Suarez’s announcement, New York Mayor-Elect Eric Adams has further revealed that he plans to collect his first three paychecks as Mayor in Bitcoin.

On Monday, Crypto exchange Binance temporarily suspended all crypto withdrawals following a backlog of crypto withdrawals that happened after BTC reached its all-time high.

Ethereum 

Following Facebook’s brand name change to Meta, Vitalik Buterin released a proposal for “crypto cities” via a paper in which he discusses the merits of using decentralized technologies in a metaverse.

DeFi

Following on from the meteoric rise and crash of the SQUID token over the last week, Binance is investigating the incident and trying to trace the developers who have abandoned the project. 

The Avalanche Foundation has launched a new $220 million fund to support the growth of decentralized finance, enterprise apps, NFTs, and culture applications.

BIFROST announced the launch of its Biport wallet, designed to give users access to multichain decentralized finance. 

Business

An executive from The Australia and New Zealand Banking Group commented on the growing crypto industry at the “State of Play” forum held by Blockchain Australia, noting that there will be a “major protocol shift for financial market infrastructure.”

NBA star Kevin Durant has launched a Special Purpose Acquisition Company, which will look at tying up with tech-driven firms, including firms in the crypto space. 

Altcoins

TRON founder Justin Sun has announced plans to establish a $1,111,111,111 fund to power the expansion of the TRON ecosystem.

The quarterly XRP Markets Report published for the third quarter of 2021 indicated a total of 88.8 million transactions executed on the XRP Ledger (XRPL). 

Regulation

Commonwealth Bank of Australia, which is the first mainstream bank in the world to offer crypto trading services, will be facing examination by regulatory authorities.

DarkSide, the ransomware group responsible for the Colonial Pipeline hack, is now the subject of a $10 million bounty promoted by the US Department of State.

NFT

Andrew Wilson, the CEO of EA, recently spoke about the gaming industry’s future, stating that he believed that blockchain-based games and NFTs would play a pivotal role in the industry.

FC Barcelona has collaborated with premium NFT marketplace Ownix to launch a set of digital collectibles featuring iconic moments from its history. 

Red Bull Racing teams up with official blockchain partner Tezos to launch an NFT collection based on the Mexican Grand Prix. 

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.

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