Date: 08/27/2021
“… something more than a game but less than the real world. The metaverse is to virtual worlds as a website is to the internet.” — Herman Narula, CEO of Improbable
Weekly News Report:
1. Square and Twitter CEO Jack Dorsey, tweeted on Friday that TBD, payment giant Square’s new division focused on creating an open developer platform, is planning to build a decentralized bitcoin exchange to make it easier to offer non-custodial, decentralized financial services.
2. The U.S. Securities and Exchange Commission has reportedly signed a $125,000 deal with blockchain analytics firm AnChain.AI to help monitor and regulate the decentralized finance industry.
3. On Friday, Federal Reserve Chairman Jerome Powell reiterated that the central bank could taper asset purchases later this year as inflation gains appear to be temporary. Powell’s comments contributed to a weaker dollar and higher bitcoin price as concerns about a more immediate taper, or a winding down of the Fed’s monthly bond purchases, were put at ease.
4. Miller Opportunity Trust, the flagship fund offered by noted hedge fund manager and bitcoin bull Bill Miller, disclosed in an Aug. 27 SEC filing a $44.7 million stake in the Grayscale Bitcoin Investment Trust (GBTC).
5. Cryptocurrency expands into Illinois politics as a candidate accepts bitcoin donations. Lake County Treasurer Holly Kim, a Democrat who is running for reelection next year, became the first Illinois political candidate to accept the digital currency.
6. Illinois’ 43rd governor, JB Pritzker, announced the expansion of Coinflip, the leading cryptocurrency ATM operator, at a press conference in Chicago Tuesday.
7. Binance, the largest cryptocurrency exchange in the world, has named former Singapore Exchange executive Richard Teng as CEO of its Singapore affiliate, underscoring the city-state’s growing status as a hub for digital currencies.
8. Spain prepares registry for cryptocurrency exchanges and custody providers. This registry is specified by the Prevention of Money Laundering and Financing of Terrorism Law, approved last year. The process, which started in April, gives these service providers until October to register.
9. Cuba’s government said on August 26 it will recognize and regulate cryptocurrencies for payments on the island. A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba.
10. Afghans hold on to cryptocurrency as Taliban takeover triggers an economic crisis. Some Afghan citizens who had invested in cryptocurrency assets will be protected from the ongoing economic crisis in the country due to the Taliban takeover.
11. TGU Consulting Group, a Honduran company based in the capital of Tegucigalpa, has reportedly installed the country’s first Bitcoin ATM. The “la bitcoinera” machine allows crypto enthusiasts to purchase BTC and ETH using the local fiat currency provided they are willing to scan their IDs and disclose certain personal information.
12. Hoping to benefit from the success of the blockchain game, merchants in the Philippines are now accepting Axie’s Smooth Love Potion (SLP) token.
13. Cardano’s ADA token surged Friday, pushing the gains this month to 112%, as the price fast approaches its all-time high.
14. The report by Allied Market Research published Tuesday projects a compound annual growth rate of 12.8% from 2021 to 2030 and the global cryptocurrency market will hit $4.94 billion by 2030, more than triple its estimated size of $1.49 billion in 2020.
15. In July this 12-year-old boy, Benyamin Ahmed sold a collection of digital art he coded, called Weird Whales, as NFTs. He’s already made $350,000. And by the end of August, his earnings for those are expected to top $400,000.
