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Crypto Weekly Roundup: Taproot Upgrade Live, Staples Center Renamed, MoneyGram+Stellar Pilot Project, TIME To Hold ETH, And More

Crypto Weekly Roundup: Taproot Upgrade Live, Staples Center Renamed, MoneyGram+Stellar Pilot Project, TIME To Hold ETH, And More

Last week witnessed the launch of the latest Bitcoin upgrade, Taproot, which aims to improve the privacy of this premier cryptocurrency network. Since all BTC transactions are fully traceable, Taproot will keep complex transaction details hidden without sacrificing transparency. 

Furthermore, there have been many other exciting developments in cryptocurrencies and blockchain. Let’s take a quick look. 

Bitcoin 

Bitcoin’s highly anticipated upgrade, Taproot went live. This will allow developers to integrate new features with the Bitcoin network for better scalability, privacy, and security on the network.

Privately-owned investment manager Fidelity has received approval from the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian regulatory body overseeing the country’s financial firms.

Ethereum

The Ethereum Foundation announced that it has set aside $1 million for grants to help fund organizations and non-profits that educate policymakers and government departments about Ethereum and blockchain technology.

In a partnership deal with Galaxy Digital, TIME Magazine will be sponsored in Ether to produce metaverse-related content. 

Business

Gemini Trust Co., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is seeking to raise $400 million at a company valuation of $7 billion. 

LA’s Staples Center is being renamed “Crypto.com Arena” after a $700 million naming rights deal with Crypto.com, a Singapore-based crypto exchange.

Altcoins

MoneyGram’s partnership with Stellar has launched a live cash-in and cash-out pilot in the US, where participants can deposit funds into their digital wallets at any participating MoneyGram location.

Acala has secured the first parachain on Polkadot after narrowly beating Moonbeam in the first candle auction on Polkadot. The Parachain auctions are scheduled to take place every week all through the months of November and December. 

Regulation

India’s PM Modi virtually delivered the keynote speech at the Sydney Dialogue, where he stated that it is the responsibility of democracies to ensure that cryptocurrencies do not end up in the wrong hands.

London’s public transport system has been called upon to ban crypto adverts that appear on Transport for London (TfL), over concerns of promoting an unregulated industry. 

NFT

In a partnership with Ticketmaster, NFL has launched a pilot program under which Virtual Commemorative Tickets will be distributed as NFTs to fans who attend certain games. 

Blockchain gaming unicorn Animoca Brands has announced its plans to collaborate with Korean record label Cube Entertainment to create a “K-pop Metaverse.” 

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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