Date: 09/03/2021
“Time is the ultimate currency.” — Elon Musk
Weekly News Report:
1. Solana skyrockets to a new high, amassing nearly $40 billion in market value as competition with ethereum heats up.
2. Fashion brand DKNY is updating its logo and launching it as an NFT to promote it. The brand will auction the NFT and donate the proceeds to the American Nurses Foundation.
3. South Korean telecommunication giant KT Corp announced its intent to launch a blockchain digital document initiative to tackle carbon emissions. KT Corp has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions.
4. Blockchain-based music streaming platform Audius announced Thursday that it had launched full Solana NFT integration, allowing its more than six million users to begin featuring digital collectibles from the Solana library.
5. The BNY Mellon Blockchain Innovation Fund aims to capitalize on growth in the blockchain space by targeting firms that are leveraging blockchain technology to either generate new revenue streams or reduce their cost structures by increasing their operational efficiency.
6. Twitter will soon let users send and receive Bitcoin in its “Tip Jar” platform. Twitter is using Strike’s services to generate Bitcoin invoices through the Lightning Network, which should offer faster payments with lower than usual fees for Bitcoin transactions.
7. Sberbank is expected to register its blockchain platform with the Bank of Russia by mid-September and says it has already created functionality in issuing digital financial assets (DFA) of third parties.
8. The US misses expectations in the August jobs report, pushing bitcoin to a 3-month high. Bitcoin hit $50K and ether approached $4K as risk appetite heats up. Bitcoin is up about 2% over the past week. ETH is up about 20% over the past week, extending its outperformance versus bitcoin.
9. Loot holders get $51K AGLD airdrop because of NFTs. An improbable, overnight rise has established a new token as a blockchain gaming heavyweight.
10. Argentina’s IOL invertironline plans to offer crypto exposure to its 213,000 users. The so-called E*Trade of Argentina said in its most recent earnings call that it will add crypto trading powered by a third party.
11. Programmable blockchain Solana’s SOL token rallied to a new high on Friday, replacing the meme-focused cryptocurrency dogecoin as the seventh-largest coin by market value. SOL climbed 12% to $145, establishing a foothold above Tuesday’s record of $130. The cryptocurrency’s market capitalization jumped to $42 billion, surpassing dogecoin’s $38 billion.
12. South Korean crypto exchange Bithumb is set to mandate ID verification from foreign users in a bid to tighten its KYC policy in the face of regulatory scrutiny. Bithumb will prohibit access to its platform for non-Korean nationals who fail to verify their identity with a mobile phone.
13. Australia, Malaysia, Singapore, South Africa are working on a joint project that will develop and test shared platforms for international settlements with multiple CBDCs.
14. The Monetary Authority of Singapore (MAS) issued a digital payment token license to local fintech company FOMO Pay. FOMO Pay can now provide payments services using digital currencies, including CBDCs and crypto tokens.
15. Nigeria’s securities regulator establishes a fintech unit to study crypto. With much of the Nigerian crypto market peer-to-peer by necessity, Nigeria’s Securities and Exchange Commission (SEC) now aims to introduce regulations that could regularize the industry and offer investors better protection.
16. Mark Cuban’s Dallas Mavericks offer cashback rewards on Dogecoin purchases. Dallas Mavs fans who spend more than $150 worth of Dogecoin in one transaction will receive a $25 e-gift card that they can use for purchases at the team’s online store.
