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The popularity of cryptocurrency as an investment vehicle is dwindling in the U.S., according to a survey made by Bankrate. The survey found that trust in crypto has diminished across several groups, with millennials losing 20% of their trust in the assets — more confidence lost than in the other generational groups surveyed. Investors Losing Confidence in Crypto According to Bankrate While crypto is still considered a new investment vehicle in the current market, some of its believers have started to lose faith. A survey made by Bankrate shows that the number of Americans comfortable with investing in crypto has dropped across generational groups. Millennials, who have traditionally been open and connected to new tech like crypto, have been one of the groups to lose the most confidence in crypto. The percentage of millennials that were “very comfortable” or “comfortable” investing in crypto went from 49% in 2021 to 29% this year. However, other groups also lost confidence in crypto, with the same metrics going from 37% to 21% among Gen Xers, and from 21% to 11% among baby boomers. In total, only 21% had some degree of confidence in crypto as an investment this year, compared to 35% in 2021. According to the report, this is the result of the recent cryptocurrency market downfall, produced by the United States Federal Reserve’s intervention, raising interest rates to combat inflation. Greg McBride, CFA and Bankrate’s chief financial analyst, stated: It is a lot easier to be enthusiastic and believe in something when you see the value going up continually. The real test of belief comes when the chips are down, and a lot of investors have realized they now feel differently about investing in cryptocurrency. Why Younger Generations Are More Inclined to Believe in Crypto The report also tries to reveal why younger groups tend to be more interested in investing in cryptocurrency. These younger groups, including Gen Zers and millennials, are said to be more inclined to get financial advice from less-than-ideal sources like social media and friends and family, instead of hearing from sources like actual investors. Even with this loss of trust in crypto, the ones that still believe in it also believe that crypto might make them billionaires in the future. A survey made by Harris Poll shows that the younger crowds, including millennials and Gen Zers, are the most confident groups in their ability to become billionaires through crypto. What do you think about crypto’s loss of popularity in the U.S.? Tell us in the comments section below. View the full article

PRESS RELEASE. Coorest, a Polygon-native project, is the first blockchain project to have a certified standard for carbon compensation entirely on-chain — allowing anyone with an internet connection to compensate for their carbon footprint, thereby demonstrating that the newly certified Coorest Carbon Standard (CCS) is an excellent alternative to other pre-existing standards. As a result of the new standard, all activities related to carbon compensation must be carried out through the blockchain; this ensures that all steps of the carbon compensation process are visible at all times and the process is transparent. The Floodlight Chainlink node introduces a new level of accountability by monitoring carbon capture projects via satellite and validating the carbon capture process with satellite data. This feature proves actual carbon capture, thereby ensuring that Coorest’s carbon tokens are provably backed by absorbed CO2. Furthermore, the standard guarantees the additionality of Coorest’s carbon tokens, backed by carbon capture. Before exploring the details behind the CCS, it is essential to understand what makes it a legitimate methodology for carbon compensation. Certified by an official United Nations auditor The CCS is certified by Earthood, an official United Nations auditor. Earthood recognises Coorest’s CO2 tokens as a valid carbon compensation method. The methodology of CCS includes a strict set of rules for carbon capture projects. Among these is the requirement for the additionality of carbon capture. Carbon capture projects can only tokenise carbon from newly planted trees that respect the region’s biodiversity. Therefore, planting native tree species is preferable, while using invasive species is strictly prohibited. Finally, the carbon capture project must submit to regular satellite monitoring and agree that its carbon capture can only be used as carbon compensation in the form of Coorest CO2 tokens; this guarantees the validity of Coorest’s carbon standard and ensures accountability right from the beginning. Carbon compensation secured by smart contracts Smart contracts are blockchain programs that automatically run when certain conditions are met. For example, Coorest carbon tokens are minted by smart contracts. It is done to secure the tokenisation of carbon and guarantees that all carbon tokens are backed by carbon capture. There are two main conditions required by Coorest’s smart contracts to mint carbon tokens — satellite data and CO2 absorption calculations. CO2 absorption calculations made by Coorest’s science team are the first requirement for minting carbon tokens. These calculations are entered manually into the smart contracts in a well-documented process. They consider the soil type, tree species, climate and geography of the carbon capture project and determine the rate at which it will generate carbon tokens. Carbon capture verified through satellite monitoring The second prerequisite for minting carbon tokens is satellite data — a product of Coorest’s recent partnership with Floodlight and integration of Chainlink. Floodlight tracks and monitors the trees of all carbon capture projects approved by Coorest. It collects data and sends it to Coorest’s smart contracts via the Chainlink network. Once a project is on-boarded, Floodlight takes a “snapshot” of its trees and uses it as a reference. Floodlight then does a monthly biomass check using satellites and compares the data to the initial “snapshot”. This monthly biomass check is done to ensure that the trees on the carbon capture project are present. They continue to absorb carbon at the rate determined by Coorest’s science team. In addition, the smart contracts stop generating carbon tokens if too many trees die or are removed from the carbon capture project. It guarantees that Coorest’s carbon tokens are backed by effective and continuous carbon capture. The satellite validation of carbon capture and the integral use of smart contracts provide Coorest’s carbon compensation method with unparalleled transparency and accountability. The approval of the Coorest Carbon Standard is an enormous milestone for Coorest. However, it is also an occasion with a colossal impact on the carbon market. About Coorest Coorest helps companies and individuals compensate for their CO2 emissions by offering transparent and traceable blockchain-based web3 solutions. As the first web3 project with an officially certified blockchain carbon standard, Coorest strives for global, unbiased and transparent compensation solutions, at the core of which is blockchain technology. By offering 100% traceable CO2 compensation solutions and a decentralised platform, Coorest aims to disrupt and innovate carbon compensation solutions. Learn more about Coorest by visiting coorest.io or following the social media channels: Twitter I Discord I Telegram I LinkedIn This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

YPF Luz, a subsidiary of the Argentine state oil company YPF, is currently piloting a project to power bitcoin mining operations with residual gas. The initiative, which is currently being tested in Vaca Muerta, one of the biggest oil fields in the country, seeks to take advantage of this byproduct from the initial stages of oil well drilling. Argentine Company YPF Luz Takes Bitcoin Mining to the Oil Wells Cryptocurrency miners are always looking for new forms of getting cheap and convenient power sources to run mining operations. YPF Luz, a subsidiary of the state-owned YPF in Argentina, is running a pilot project to take advantage of flare or residual gas to power bitcoin mining operations. This project, which has been running for three months in Vaca Muerta, a large oil field in the country, seeks to take advantage of this gas, which would be otherwise be burned. The gas in these oil fields cannot be taken to other sites to be used, so the only way is to bring interested parties to the zone. YPF Luz already has a series of customers that pay for this kind of power, which is being produced on-site with generators installed during the oil well drilling phase. Martin Mandarano, CEO of YPF Luz, stated: This first pilot, which is already operating, operates with 1 [megawatt] of generation and a second project is being developed simultaneously to start operating before the end of the year, with about 8 MW, in the Bajo del Toro area. Customers and Modus Operandi Mandarano also referred to the relationship the company has with these customers, and how they pay for this generated power. The payment varies, and is sometimes tied to the price of the asset mined on international markets, and sometimes the price is fixed by the company. However, he did not specify the conditions in which a company would pay in one way or the other. Given the nature of the operations, the equipment must be moved to new locations when the drilling of the well in which the generator is installed is finished. However, this is no problem, because the equipment is designed to be portable and modular to be able to be carried to other locations quickly. Mandarano clarified that this new focus is part of an atypical solution to the power problem. He stated: We are taking the demand to where the supply is, in this case in Vaca Muerta, when normally the supply is elsewhere, hundreds or thousands of kilometers away, for which it is necessary to build transmission, which is precisely one of the infrastructure problems. Other big mining companies have already established a presence in Argentina, like Bitfarms, which recently started operations in a facility located in Rio Cuarto. What do you think about YPF Luz’s onsite energy generation plans for Bitcoin mining? Tell us in the comments section below. View the full article

The United Kingdom-based gold dealer, Ash Kundra, has claimed that he recently ran out of gold coins and bars after the demand for the precious metal skyrocketed. The pound’s plunge to a record low versus the dollar, as well as the turmoil in financial markets, is said to be the cause of the sudden increase in demand for the precious metal. Demand for Gold ‘Increased Exponentially’ A United Kingdom-based gold dealer, Ash Kundra, has revealed that he repeatedly ran out of gold coins and bars in the days that followed the United Kingdom treasury chief Kwasi Kwarteng’s mini-budget proposal. Kundra, who operates from London’s Hatton Garden jewelry quarter, is quoted in a Bloomberg report suggesting that demand for the precious metal had “increased exponentially” following Kwarteng’s controversial proposals. According to the report, the rush to gold by Britons came at a time when the precious metal’s U.S. dollar value was approximately 20% lower than its March peak of just above $2,060 per ounce. However, the turmoil in the U.K. financial markets, as well as the pound’s slide to a record low versus the dollar, meant gold was again a more alluring alternative. This, in part, is said to explain why those in the United Kingdom were scrambling to get their hands on the precious metal. As Kundra observed: I keep running out of coins, I keep running out of bars. Gold Collateral At Bullion Vault, a member of the London Bullion Market Association, the number of Britons who opened accounts to buy gold was reportedly more than double the usual rate. In addition to buying gold, many British residents are believed to have sought safety in cryptocurrencies. As noted by a leading provider of crypto market intelligence products, Messari, a record number of investors from the U.K. and the EU are thought to have acquired bitcoin using their respective currencies on the same day that the pound touched an all-time low versus the dollar. Meanwhile, in addition to using gold as a hedge against currency depreciation, many in the U.K. are now reportedly using the precious metal as collateral. Commenting on Britons’ reported use of gold as collateral, Jim Tannahill, the managing director of Suttons and Robertsons, said he expects to see more and more of this. “We anticipate we will continue to see an upward trend in people using gold as loan collateral in the coming months whilst this period of extreme uncertainty exists,” Tannahill is quoted explaining. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The Central Bank of Kenya appeared to rebuke the country’s new deputy president Rigathi Gachagua, after it rejected the latter’s claims the East African nation lacks enough foreign exchange to import oil. According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. Central Bank Only Sources Forex for the Government The Kenyan central bank has pushed back against remarks made by the country’s deputy president Rigathi Gachagua which implied the East African nation lacks foreign exchange reserves to import fuel. In a statement, the bank said it “does not supply foreign exchange for transactions other than for the national government.” According to the bank, all the foreign exchange used in private transactions and for oil imports is sourced from commercial banks. This has been the case since the complete liberalization of the foreign exchange market in the 1990s, the bank’s statement added. In addition, the Central Bank of Kenya (CBK) insisted that it is mandated to adhere to the requirements of the country’s central bank act. Known as the Central Bank of Kenya Act (26), the law requires: [The CBK] at all times use its best endeavours to maintain a reserve of external assets at an aggregate amount of no less than the value of four months’ imports as recorded and averaged for the last three preceding years. Kenya’s Bleak Prospects According to the CBK, Kenya’s import cover stood at 4.64 months as of September 26, 2022. The statement also revealed that the CBK had usable foreign exchange reserves valued at $7.42 billion as of September 29, 2022. In an interview with Citizen Digital, Gachagua, who was recently sworn in as Kenya’s deputy president, said Kenya’s economic prospects were dim. He said the dire situation had forced the new government to end the fuel subsidy. Gachagua added that President William Ruto’s government is going to prioritize increasing food production. However, in its statement that dismisses Gachagua’s claims, the CBK insisted that it will “continue to provide adequate cover and a buffer against shocks in the foreign exchange market.” Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

Samsung Latam, the regional division of the electronics giant, has decided to present its own space in Decentraland, an Ethereum-based metaverse platform. The space, which will be named “House of Sam,” will allow users to have virtual contact with different products of the brand, and play mini-games to win Samsung-branded rewards for their avatars. Samsung Latam Dives Into the Metaverse Samsung Latam, the Latin American regional division of the electronics company, has decided to dedicate an online space to increasing the visibility of its brand in the digital world. The company will maintain a space called “House of Sam” in Decentraland, one of the biggest Ethereum-based metaverse platforms. According to reports, the goal of this move is to bring the brand closer to a new generation of consumers using the metaverse as a tool. The space is already open for users, being launched on September 1 with a virtual show from the Brazilian trio, Melim. About the launch of this new digital space and its objectives, Arthur Wong, marketing director for Samsung Latam, stated: Our customers will be able to interact with each other and participate in exclusive shows, courses, and events that we will offer for free at Decentraland, one of the most democratic and open spaces in the metaverse. Our goal is to be ever closer to Gen Z, our younger consumers who no longer draw boundaries between what is physical and what is virtual. Activities and Prizes The House of Sam will offer a series of mini-games related to the brand, that will also present prizes to users in the form of exclusive wearables for its avatars in Decentraland. Some of the most iconic products of the Samsung brand are also present in the virtual space, including the Freestyle portable projector. This is one of many moves Samsung has already made directly into the metaverse, though the company has also been active in the NFT (non-fungible token) marketplace and the bitcoin mining chip business. In July, the company launched another metaverse experience named Space Tycoon as part of the Roblox platform. In January, the company opened its own store in Decentraland. What do you think about Samsung Latam’s dive into the Decentraland metaverse? Tell us in the comments section below. View the full article

As a result of DeFi protocols, access to finance has been democratized, allowing anyone with an Internet connection to gain access to opportunities and services. However, they only gained popularity after the ‘DeFi summer of 2020’ and the yield farming craze that followed. The concept of yield farming has changed the way people view savings by becoming the standard means of generating passive income in the cryptosphere. Consequently, numerous DeFi protocols have developed their architecture and functionalities around yield farming. However, yield farming has remained virtually unchanged over the years despite its value. Introducing Animal Farm Animal Farm is a DeFi protocol that is modelled after George Orwell’s novel of the same name that criticizes centralized power. Unlike its competitors, it is the first and only decentralized ownership lending and yield aggregation protocol in the DeFi industry. The platform uses two native tokens, DOGS ($AFD) *live October 18th*, the reward asset, and PIGS ($AFP), the governance token, which represents the platform’s ownership stake. Dynamic Supply In contrast to other DeFi platforms, Animal Farm utilizes a dynamic supply control algorithm. By employing this innovative algorithm, the supply of the DOGS ($AFD) token, which will launch on October 18th, and the PIGS token, is determined in a trustless, decentralized manner. As a result of the supply control algorithm and tokenomics of DOGS ($AFD) and PIGS ($AFP), the supply is designed to remain stable and even become deflationary during times of low demand, thereby allowing for optimal pricing performance in all market conditions. $AFP Giveaway – Join the Animal Farm Craze The Animal Farm team will be conducting a giveaway contest in celebration of the full launch of the protocol on October 18th. After completing a series of tasks, one user will be awarded exactly $5,000 worth of BUSD. In order to avoid adding to the circulating supply of tokens, Animal Farm does not pay for promotion or marketing with native tokens. Therefore, the reward will be in BUSD. Animal Farm Tokenomics & Reward Model Launching on October 18th, DOGS ($AFD) has a unique vesting model which does not lock users’ tokens. By instead using a variable tax model, it has created an incentive structure that rewards those who secure profit in the form of BUSD and BNB dividends by staking DOGS ($AFD) instead of selling it on the market. Stakers in Animal Farm’s ‘DogPound’ have the tax associated with transacting their DOGS ($AFD) reduced at a rate of 1% daily. This model perfectly aligns incentives for optimal performance. It rewards users for removing AFD tokens from circulation while allowing them to earn as the wealthy do by accumulating assets; this allows them to earn a dividend paid out in BNB. 70% of taxes placed on DOGS ($AFD) token transactions are swapped for BNB and paid out to the ‘DogPound’ loyalty staking contract, allowing DOGS ($AFD) stakers to reduce their DOGS ($AFD) transaction tax while earning a high yield BNB dividend. 30% of taxes on transacted DOGS ($AFD) tokens are swapped for BUSD and paid out to the ‘PigPen’ as a high-yield BUSD dividend. The platform owners receive 75% of the fees generated from deposits and withdrawals in BUSD, which are then distributed as a high-yield dividend to $AFP stakers in the PigPen. 25% of fees generated on the platform from deposits and withdrawal fees are utilized to buy DOGS ($AFD) and add AFD/BUSD liquidity, generating a consistent flow of DOGS ($AFD) buy pressure and locked decentralized liquidity. Whenever $AFP or $AFD tokens are sold, 3% of the transaction is burned, which removes them from circulation forever, making them deflationary. Higher Yield Through Lending Decentralized lending is achieved by lending collateralised TVL (Total Value Locked) to Pancakeswap, the largest decentralized exchange on Binance Smart Chain (BSC). Thus, Animal Farm offers low-risk yield aggregation compounded on top of yield natively generated by the protocol. Yield generated through lending to Pancakeswap is converted to BUSD and paid out to ‘PigPen’ stakers. The users gain all the benefits of earning yield on Pancakeswap while earning additional cash flow on Animal Farm with improved incentive structures. Governance Not only are stakers of the $AFP token earning platform fees and taxes as owners of the platform, but they also have a vote on future roadmap proposals. Sustainability & Performance With all of the mechanics detailed above, rewarding users for removing $AFP & $AFD tokens from circulation and paying out a dividend for doing so in the non-native token (BUSD & BNB), and dynamic control of the supply based on underlying demand, Animal Farm and it’s native tokens are designed to be the highest performing yield generating assets ever created. Closing Thoughts Animal Farm is ready to become one of the leaders in the DeFi world. There is an extensive roadmap, which includes already developed products, generous incentives, an appealing referral program, an elegant user interface, a distinctive architecture, and an innovative yield-generating system that performs at all market levels. To learn more about Animal Farm, how to purchase $AFP now, and prepare for the full launch on October 18th, visit the official website and socials (Twitter, Discord, Youtube). This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Public records show that Shopify’s CEO Tobias Lütke has purchased close to $3 million in Coinbase shares during the last 60 days. Lütke became a Coinbase board member last February and because he is a Coinbase associate, he’s required by law to submit his trades to the U.S. Securities and Exchange Commission (SEC). Since August 11, Shopify’s Tobias Lütke Purchased a Significant Quantity of COIN Shares Coinbase Global Inc. (Nasdaq: COIN) shares have seen better days as statistics show during the past 12 months, COIN has lost 73.47% or a loss of 184 nominal U.S. dollars in value. On Monday, October 3, 2022, COIN gained 2.11% during the past 24 hours and ​​0.93% over the last five days. Today, COIN’s current market value has been hovering around 66.61 nominal U.S. dollars per share. Public records indicate that during the last two months, Shopify CEO Tobias Lütke has picked up a touch less than $3 million worth of COIN shares. Lütke acquired 3,930 shares of COIN on August 11 and he paid $97.24 per share. Five days later, Lütke purchased 4,023 shares on August 16 at $90.55 per share. From August 11, up until September 27, Lütke purchased thousands of Coinbase shares approximately six times. The acquisition records show he paid an average of around $369K every week on COIN shares since August 11. The billionaire founder and CEO of Shopify is extremely fascinated with technology and he’s a core team member of the Ruby on Rails project. A year ago, Lütke and a few other Shopify executives, with the help of Celtic House Venture Partners, invested $3 million into a global print-on-demand platform called Creative Layer. Lütke and Shopify have shown interest in bitcoin (BTC) and cryptocurrency assets for quite some time. In February 2020, Shopify joined Meta’s Libra Association, and the same year, the company started accepting crypto payments as a payment method. Lütke is the director of the five-member Coinbase Global board, which includes a16z founder Marc Andreessen, Coinbase CEO Brian Armstrong, Coinbase co-founder Fred Ehrsam, and the former CSO of Cisco Kelly Kramer. Disclosures show that Ehrsam is the only other Coinbase insider who has purchased shares this year, as the co-founder acquired 1.1 million shares for roughly $76 million. Last May, Ehrsam paid just over $68 per share on average for the 1.1 million COIN shares. Records show that Lütke owns approximately 65,815 shares and his cheapest purchase was his most recent for $62 per share. What do you think about the Shopify CEO purchasing $3 million worth of COIN shares during the last two months? Let us know what you think about this subject in the comments section below. View the full article

Just recently the developers behind the Bitcoin Cash-centric project Anyhedge released the alpha version of the Anyhedge Whitelabel and since then, 284 smart contracts were created onchain, and more than $32,900 in funds hedged using the alpha protocol. Furthermore, this month, General Protocols, the engineers behind Anyhedge, revealed the team plans to launch a decentralized application (dapp) on the Bitcoin Cash blockchain that allows anyone to long bitcoin cash against a myriad of tradeable assets. General Protocols to Launch a Decentralized Application That Allows Users to Hedge or Long Bitcoin Cash, Anyhedge Alpha Whitelabel Recently Released In recent times, there’s been a few different projects building within the Bitcoin Cash (BCH) ecosystem. One protocol called Anyhedge just released the protocol’s alpha version, which allows users to create smart contracts onchain. Furthermore, the team behind Anyhedge, General Protocols, recently summarized the Anyhedge Extension, which was made possible after the new ruleset changes were applied to the BCH network last May. This month, General Protocols has plans to launch a dapp called BCH Bull, an application that allows people to long BCH against a number of tradeable assets. BCH Bull is a permissionless and noncustodial dapp built on the BCH chain. Tradeable assets that can be used to long or hedge bitcoin cash include assets like the U.S. dollar, bitcoin (BTC), ethereum (ETH), or the precious metal gold. “Utilising the AnyHedge protocol (built by General Protocols), BCH BULL will allow users to instantly create up to 10x leverage smart contracts directly with their own wallets without the need for any sign-up,” General Protocols BCH Bull announcement explains. The team’s dapp announcement adds: On the other side of the contract, those users wishing to stabilise their purchasing power will also be able to create hedging positions against those same assets, thus providing a trustless and novel crypto stability solution, essential for risk-averse users such as merchants, miners, and other businesses operating with cryptocurrency. General Protocols details that because Anyhedge smart contracts leverage the unspent transaction output (UTXO) properties offered by the BCH network, the smart contracts have an advantage. Benefits included “being able to handle high volumes with low fees, whilst all contracts are stateless and remain independent of each other, thus improving privacy and reducing any systemic security risk.” So far, the project’s creators detail that the alpha testing saw more than 100 onchain contracts and every one of them executed “perfectly” and “seamlessly.” The Alpha testing of Anyhedge ended on September 28, and General Protocols summarized the achievements. “284 smart contracts created onchain with over $32,900 hedged,” the team explained on October 2. The BCH Bull beta release is set to launch at some point this month and interested parties can check out the project’s updates via the General Protocols Telegram channel. What do you think about the upcoming BCH Bull application built by General Protocols? Let us know what you think about this subject in the comments section below. View the full article

The Financial Conduct Authority (FCA), Britain’s top financial regulator, has revealed that many crypto firms are still seeking licenses to operate in the U.K. despite failing to meet regulatory requirements the first time. “They know we have a good system of regulation and if they meet our standards that’s important for every jurisdiction that they seek to apply for around the world,” said the regulator. FCA on Crypto Regulation Financial Conduct Authority (FCA) executive director for competition and consumers, Sheldon Mills, talked about cryptocurrency regulation at a City & Financial conference Thursday. British lawmakers and the crypto industry have criticized the country’s top financial regulator for being slow in processing license applications and for rejecting many applicants despite the government previously stating that it wants to make the U.K. a global hub for crypto assets. Mills explained that crypto companies are not deterred by strict licensing requirements, noting that many of them are reapplying for a license to operate in the U.K. even after being rejected the first time. “It’s no surprise that I still see many crypto firms still seeking to get licenses here in the U.K. even though some have been denied those licenses at the first pass,” she said, elaborating: They know we have a good system of regulation and if they meet our standards that’s important for every jurisdiction that they seek to apply for around the world. “That is a benefit to the U.K. economy and U.K. financial service industry, and is good for competition, inward investment, and growth,” Mills added, noting that 95 people have been hired to join the FCA’s licensing team and the number of pending applications has fallen by 40%. The FCA previously said that 90% of crypto firms seeking a license to operate in the U.K. have either withdrawn their applications or been refused because they could not meet the standards. Mills emphasized: Over time, we expect faster, better decisions will support us in bringing down the costs of the regulatory system. Crypto regulation may be undergoing changes in the U.K. under the new prime minister, Liz Truss. Several key officials who previously worked on the country’s crypto policy resigned from government before she took office, including Former Chancellor of the Exchequer Rishi Sunak and Economic Secretary to the Treasury John Glen. The British government introduced the Economic Crime and Corporate Transparency Bill in the House of Commons last week. It “aims to strengthen the U.K.’s fight against economic crime,” the government detailed. In May, the U.K. government outlined its plans to support crypto adoption and confirmed its commitment to regulate stablecoins. What do you think about the comments by the FCA executive director about crypto regulation? Let us know in the comments section below. View the full article

PRESS RELEASE. On 15 October, England men will face the Samoa men at St James Park in the opening match of the Rugby League World Cup (RLWC) 2021, which will conclude in Manchester on 18 November with the wheelchair final and a spectacular doubleheader at Old Trafford on 19 November for the men’s and women’s finals. For the first time in tournament history, the men’s, women’s, and wheelchair competitions will take place simultaneously, with the BBC broadcasting all 61 matches live. More than 600 players and 32 teams will compete across 17 host cities and 21 stadiums, including London, Manchester, Newcastle, York, Leeds, Coventry, and Sheffield. Having been postponed from 2021 to 2022 due to the Covid-19 pandemic, this year’s Rugby League World Cup will be the 16th edition, and CoinEx, the leading cryptocurrency exchange, will be cheering all teams on as the tournament’s exclusive cryptocurrency trading platform partner. Cryptocurrencies are becoming more prevalent in the sports industry. By providing easy-to-use crypto products and pleasant, convenient crypto trading experiences, CoinEx is committed to making crypto trading easier for all crypto users. Currently available in 16 languages, including Chinese, English, Spanish, French, and Portuguese, CoinEx offers products and services, including spot trading, futures contracts, margin trading, mining, AMM, CoinEx Dock, Pledging, etc. With over 3 million users across more than 200 countries and regions, the exchange provides an easy-to-use, secure, and reliable crypto trading service. Furthermore, it offers trading sections for Bitcoin, Bitcoin Cash, and stablecoins, as well as 600+ excellent, innovative cryptos, giving crypto users a wider variety of trading options. In the past year, CoinEx has won the recognition of users because of the ease of use of its products, the speed of its service, the stability of its performance, and the smoothness of its deposits/withdrawals. It is now CoinEx’s pleasure to be part of the biggest, most exciting, and most inclusive Rugby League World Cup in history and to witness the extraordinary performances of the participants at RLWC2021. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in the world of cryptocurrency. Rich Dad Poor Dad author Robert Kiyosaki says the “end is here” for fake money. This and more just below in the latest Bitcoin.com News Week in Review. While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback last week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020. Read More Report: Gap Between Ethiopian Currency’s Official and Parallel Market Exchange Rate Grows to New Record The Ethiopian birr currency’s parallel exchange rate against the U.S. dollar recently dropped to a low of 92 birr per dollar, a report has said. The report added that following this latest plunge, the gap between the birr’s official and parallel market exchange rates has widened to a record high. Read More Robert Kiyosaki Says End of Fake Money Is Here — Shares 3 Lessons to Help Investors Amid Market Crashes After predicting the biggest crash in world history, Robert Kiyosaki, the famous author of the best-selling book Rich Dad Poor Dad, says the “end is here” for fake money. He reiterated three lessons that will help investors “do well in market crashes.” Read More South Korea Seeks to Freeze 3,313 Bitcoin Allegedly Linked to Luna Founder Do Kwon South Korean prosecutors are seeking to freeze 3,313 bitcoins at two cryptocurrency exchanges allegedly tied to luna founder Do Kwon. The coins were moved soon after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. Read More Do you think the end is nigh for currencies like the USD? Let us know in the comments section below. View the full article

The Uganda-based digital lending fintech startup, Numida, has said it will start offering its services to micro, small, and medium-sized enterprises in other African countries. Numida’s plans to offer its services to businesses beyond Uganda’s borders came shortly after it was announced that the startup had raised a total of $12.3 million in its pre-Series A funding round. Serena Ventures, a venture capital firm founded by American tennis player Serena Williams, led the funding round. Unlocking the Potential of Small Businesses in Africa Numida, the Uganda-based fintech, has said it plans to take its digital lending business outside the country, using part of the $12.3 million it raised via its pre-Series A equity-debt funding. The round was led by the U.S. tennis star Serena Williams’ venture capital firm Serena Ventures. Also participating in this funding round were Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator. In comments following Numida’s successful capital raise, co-founder and CEO Mina Shahid reportedly touted the impact of the financial products his company has been availing to small businesses in Uganda, and how this can be replicated in other African countries. Shahid said: I’m most excited about continuing to build and provide financial products for these micro and small business owners …. There are so many of these businesses across the continent, we really do believe that we’ve proven a model in Uganda that can be Pan-African and unlock the potential of these businesses to grow and achieve great things. Prioritizing Small and Medium-Sized Enterprises As explained in a Techcrunch report, Numida has prioritized serving micro, small, and medium-sized enterprises (MSMEs) because they are continually marginalized by traditional financial institutions. Using the recently raised capital, Numida said it plans to increase its active client base to 40,000. The fintech startup plans to do this by expanding its operations in two countries, the report said. According to the report, Numida, which raised $2.3 million in 2021, has so far granted $20 million in working capital to MSMEs. With the backing of Lendable Asset Management, which recently lent $5 million to the startup, Numida will increase the value of its loans and will at the same time remodel its products to ensure their affordability. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The monetary policy committee of the Kenyan central bank recently revealed it increased the central bank rate by 75 basis points from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. Growing Inflationary Pressures Following its latest meeting, the monetary policy committee (MPC) of the Central Bank of Kenya (CBK) announced it approved increasing the central bank rate (CBR) from 7.50 percent to 8.25 percent. The MPC, which is chaired by the central bank governor Patrick Njoroge, approved the interest rate adjustment to shield Kenya from the imploding global economy. With the upward adjustment of the CBR, the Kenyan central bank appeared to follow in the footsteps of the Central Bank of Nigeria which recently increased its monetary policy rate by 150 basis points. However, unlike the CBN, which hiked interest rates after seeing its inflation rate jump from 17.01% in July to 20.52% in August, the Kenyan MPC took the step to increase the CBR by 75 basis points even when the East African nation’s inflation rate only went up by 0.2% from 8.3% in July to 8.5% in August. Justifying its decision, the MPC cites growing inflationary pressures and the increased global risks, as well as their likely impact on the domestic economy. In a statement, the MPC revealed it took the step after observing there was “scope for a tightening of the monetary policy to further anchor inflation expectations.” ‘Stronger Optimism’ While Kenya, just like its African peers, is facing significant global uncertainties, the findings of two studies — a CEO survey and a Private Sector Market Perceptions Survey — appear to suggest that there is “stronger optimism about business activity and economic growth prospects for 2022.” In the meantime, the CBK warned it may be forced to take further steps should the situation demand it. “The Committee will closely monitor the impact of the policy measures, as well as developments in the global and domestic economy, and stands ready to take additional measures, as necessary. The Committee will meet again in November 2022 but remains ready to re-convene earlier if necessary,” the statement said. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

Crypto firms in Uzbekistan will have to pay fees to the state under new legislation proposed by regulators. The charges vary depending on the business activity and can reach $11,000 a month in the case of digital asset exchanges. Failure to pay will result in license suspension. Crypto Operators in Uzbekistan to Be Charged Fixed Fees for Their Business Activities Authorities in Uzbekistan have adopted a law which obliges entities working with cryptocurrencies to make special contributions to the state budget. The legislation, put forward by the country’s main crypto regulatory body, has come into force after registration with the Ministry of Justice, as required. According to the bill authored by the National Agency of Perspective Projects (NAPP) under the President of Uzbekistan, licensed crypto companies will have to pay the charges each month. Different rates have been set for the various categories of cryptocurrency operators. Crypto exchanges, for example, will be charged the highest tariff of 120 million Uzbekistani soum (almost $11,000) while cryptocurrency stores will pay around $540, the Russian crypto news outlet Bits.media detailed in a report. The tariff for individual miners will be around $270 per month and mining pools will have to transfer to the government a little over $2,700, at current exchange rates. At the same time, custodial service providers will enjoy the lowest fee — $135. “Failure to pay the fee within one month constitutes grounds for suspension of the license. If the company does not pay the fee for two months within a year, the license may be canceled,” according to one of the law’s provisions. The NAPP will deduct 20% of each payment and the rest will go to the government coffers. This year, Uzbek authorities have been quite active in their efforts to regulate the country’s growing crypto economy. In the spring, President Shavkat Mirziyoyev signed a decree expanding the regulatory framework for the Central Asian nation’s digital currency market. It provided legal definitions for crypto assets, exchange, and mining, and assigned oversight duties to the NAPP. In June, the government in Tashkent presented a set of new registration rules for companies involved in the extraction of digital currencies and obliged miners to use renewable energy. Following a spike in activities of online platforms providing crypto services to Uzbekistanis without a local license, the NAPP took measures to block access to foreign crypto exchange sites in August. What’s your opinion about the new fees imposed by the government of Uzbekistan on crypto companies? Tell us in the comments section below. View the full article

With the new Ethereumpow (ETHW) network launch, ethereum holders are eligible to receive a single ETHW for every ether they own. The following is a simple guide that shows ethereum holders how to access their ETHW tokens using a wallet like Metamask. Accessing the ETHW Network via Metamask’s Network Settings 16 days ago, Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network, and ethereum miners chose to mine a few different coins like ethereum classic and ravencoin. Some miners transitioned over to the new Ethereumpow (ETHW) network, and the blockchain has been live for more than two weeks since it launched. At the time of writing, there’s 52.27 terahash per second (TH/s) of hashrate dedicated to the ETHW network. Moreover, the ETHW token has been trading for prices between $10.96 to $12.16 per unit during the last 24 hours. The USD value of ETHW is up 20.6% during the last two weeks, and seven-day statistics indicate the token is up 49.1%. However, during the past 24 hours on October 1, 2022, ETHW has lost roughly 7% against the U.S. dollar. Because ETH owners are eligible for ETHW at a 1:1 rate, after the ETHW network went live, ether holders have been gaining access to their coins. The following post is a simple way to access ETHW using a Metamask wallet by simply updating the network. ETH owners can also leverage different methods like importing their seeds into Metamask or a wallet that supports the ETHW network. Some wallets like Crypto.com’s defi wallet has a toggle switch that checks for balances, and if you held ETH on Crypto.com’s defi wallet, simply check for balances and the ETHW token can be added. To leverage the Metamask route, it’s assumed you already have ETH in a Metamask wallet throughout the rest of this guide, but if you don’t, it’s also possible to import your ETH wallet into the Metamask platform and access the funds from there. Assuming you already have a Metamask wallet that held ethereum (ETH) before The Merge or before September 15, the next step is accessing Metamask’s settings section in the wallet. In order to access the settings simply click the account icon and press “settings.” In Metamask’s “settings” section, on the left side of the screen another section called “network” will be visible, and there’s an icon of a plug right beside it. Press “network,” and the section will take you to an area that shows all the networks your wallet is connected to, and from here simply press “add network.” After pressing the “add network” button, Metamask will warn you about malicious networks as the platform states: A malicious network provider can lie about the state of the blockchain and record your network activity. Only add custom networks you trust. Below the warning are the fields of entry that are needed to access the ETHW network. There are five fields to fill out, which include: “Network Name,” “New RPC URL,” “Chain ID,” “Currency Symbol,” and the “Block Explorer URL.” In order to connect to the ETHW chain simply leverage the RPC data written below. Network Name- ETHW-mainnet New RPC URL- https://mainnet.ethereumpow.org Chain ID- 10001 Currency Symbol- ETHW Block Explorer URL- https://mainnet.ethwscan.com After filling in all the fields, simply press “save” and connect to the ETHW network. When the wallet is connected to the network, it should now display a balance of ETHW, depending on how much ether was originally in the wallet. From here, the ETHW balance can be saved, transferred to a different wallet or address, or sent to an exchange to be sold. If you plan to sell the new tokens, make sure the trading platform supports the ETHW chain. In addition to accessing the ETHW network via Metamask, the hardware wallet company Ledger has published a blog post that describes how ETH owners can obtain their Ledger ETHW account via Metamask. Disclaimer: Walkthrough editorials are intended for informational purposes only. There are multiple security risks and methods that are ultimately made by the decisions of the user. There are various steps mentioned in reviews and guides and some of them are optional. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online. Have you tried to access your ETHW tokens after The Merge? Let us know your method and how you did it in the comments section below. View the full article

India’s Directorate of Enforcement (ED) says it has frozen more cryptocurrencies, including bitcoin, tether, and the Wazirx token. The action is part of its investigation of the mobile gaming app E-nuggets. In its latest announcement, the ED revealed that nearly 86 bitcoins found at crypto exchange Binance were frozen. Indian Authority Freezes More Cryptocurrencies: Bitcoin, Tether, Wazirx Token India’s Directorate of Enforcement (ED) announced Friday that it has frozen two more cryptocurrencies under the country’s Prevention of Money Laundering Act (PMLA). The ED is the Indian government’s law enforcement and economic intelligence agency. The announcement details: Directorate of Enforcement (ED) has freezed the crypto currencies WRX (utility token of Wazirx) and USDT (tether, an Ethereum token that is pegged to the value of a U.S. dollar) equivalent to Rs 47.64 lakhs. The ED initiated a money laundering investigation of Aamir Khan and others relating to E-nuggets on the basis of an FIR dated Feb. 15, 2021. Aamir Khan, S/o Nesar Ahmed Khan launched E-Nuggets, “which was designed for the purpose of defrauding public,” the Indian authority said. “Further, after collecting handsome amount from the public, all of the sudden, the withdrawal from the said app, was stopped, on the pretext of one and other excuses.” The agency explained that its investigations have revealed that the accused transferred the amount earned through the E-nuggets gaming app using a cryptocurrency exchange, elaborating: Amount equivalent to Rs 47.64 lakh was found in the wallet of Wazirx (crypto exchange) belonging to Aamir khan and its associates and the same has been freezed under PMLA. In addition, the ED noted that during searches conducted earlier against Amir Khan, Rs 17.32 crore cash was found and seized from the residential premises. Indian Authority Freezes More Bitcoin at Binance The latest announcement by the ED states: 85.91870554 bitcoins equivalent to USD $1,674,255.7 (equivalent to Rs 13.56 Cr approx. as per market exchange rate) found in balance in Binance exchange was freezed. In an earlier announcement, the ED said it had frozen 77.62710139 bitcoins on Binance. That means the ED froze 8.29160415 more BTC. Binance was believed to have acquired Wazirx in 2019. However, Binance CEO Changpeng Zhao (CZ) recently said that the acquisition “was never completed,” emphasizing that “Binance has never — at any point — owned any shares of Zanmai Labs, the entity operating Wazirx.” The ED froze the bank assets of Wazirx worth more than $8 million in August. However, earlier this month, Wazirx said that its bank accounts have been unfrozen. Following Wazirx, the ED froze crypto and bank assets worth $46 million of Vauld, a crypto platform backed by Peter Thiel. In August, the agency searched crypto exchange Coinswitch Kuber. However, the exchange’s CEO said that it was not related to money laundering investigations. What do you think about the Indian authority freezing more cryptocurrencies amid money-laundering investigations? Let us know in the comments section below. View the full article

A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, United States Code.” No Digital Dollar Act Introduced U.S. Senator James Lankford (R-OK) announced Thursday that he has introduced a bill titled “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency if a digital currency is adopted and makes certain individuals can maintain privacy over their transactions using cash and coins.” The bill will “amend the Federal Reserve Act to prohibit the Board of Governors of the Federal Reserve System from discontinuing Federal Reserve notes if a central bank digital currency is issued, and for other purposes,” according to the text of the bill. Furthermore, “the Secretary of the Treasury may not discontinue minting and issuing coins under this section if a central bank digital currency is issued,” the bill details, adding: No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, United States Code. Senator Lankford explained that residents in his state have expressed to him their concern that the Treasury “could phase out paper money and transition to a digital dollar.” He stressed that many Oklahomans “still prefer hard currency or at least the option of hard currency.” The lawmaker added, “There are still questions, cyber concerns, and security risks for digital money,” emphasizing: “There is no reason we can’t continue to have paper and digital money in our nation and allow the American people to decide how to carry and spend their own money.” Lankford stressed: As technology advances, Americans should not have to worry about every transaction in their financial life being tracked or their money being deleted. The lawmaker explained that “There is currently no federal statute that prohibits the Treasury from only having a digital currency.” While the Federal Reserve is working on a digital dollar, Fed Chair Jerome Powell said this week that a U.S. central bank digital currency (CBDC) will take at least a couple of years. “We are looking at it very carefully. We are evaluating both the policy issues and the technology issues, and we are doing that with a very broad scope,” Powell said. What do you think about this No Digital Dollar Act? Let us know in the comments section below. View the full article

The U.S. Securities and Exchange Commission (SEC) has taken action against two firms and four individuals allegedly perpetrating a crypto pump-and-dump scheme. “Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme,” said the SEC. SEC Charges 2 Firms in Crypto Pump-and-Dump Case The U.S. Securities and Exchange Commission (SEC) said Friday that it has filed charges against two firms and four individuals allegedly perpetrating a cryptocurrency pump-and-dump scheme. The two companies are Bermuda-based Arbitrade Ltd. and Canadian firm Cryptobontix Inc. The other defendants are their principals — Troy R. J. Hogg, James L. Goldberg, and Stephen L. Braverman — and Max W. Barber, founder and sole owner of SION Trading. SION is named a relief defendant in the case. The defendants allegedly perpetrated a “pump-and-dump scheme involving a crypto asset called ‘dignity’ or ‘DIG,’” the SEC detailed, adding: Although this case involves crypto assets, it bears the hallmarks of a classic pump and dump scheme. The securities watchdog explained that between May 2018 and January 2019, the two companies, through the four defendants, “issued announcements falsely claiming that Arbitrade had acquired and received title to $10 billion in gold bullion.” They further claimed that “the company intended to back each DIG token issued and sold to investors with $1.00 worth of this gold, and that independent accounting firms had performed an ‘audit’ of the gold and verified its existence.” The SEC said: In reality … the gold acquisition transaction was merely a sham to boost demand for DIG. This allowed the defendants to sell at least $36.8 million of the crypto token, including to U.S. investors, “at prices fraudulently inflated by the public misstatements about the supposed gold acquisition,” the SEC detailed. The regulator added: The SEC’s complaint charges the defendants with violating the antifraud and securities registration provisions of the federal securities laws. The SEC “seeks permanent injunctive relief, disgorgement plus prejudgment interest, and civil penalties against all of the defendants, and officer-and-director bars against the individual defendants.” What do you think about the SEC taking action against this crypto pump-and-dump scheme? Let us know in the comments section below. View the full article

On Wednesday, the decentralized oracle network platform, Chainlink, announced the launch of a market-wide interest rate product for Web3 protocols and the decentralized finance (defi) economy, called the CF Bitcoin Interest Rate Curve (CF BIRC). Chainlink revealed the new product at Smartcon 2022 in New York City, and the newly launched CF BIRC product aims to provide “a reliable and transparent base rate” for Web3 market participants. Chainlink and CF Benchmarks Launch Manipulation-Resistant Base Rate CF BIRC Chainlink has made a number of announcements during the Smartcon 2022 event in New York City. For instance, on Wednesday the smart contract and oracle network project revealed a program called the Sustainable Chainlink Access for Layer 1 & 2 Enablement otherwise known as SCALE. “SCALE is a holistic and win-win economic model for both blockchains and the Chainlink Network,” Chainlink tweeted on September 28. “As [layer one and layer two] userbases expand, fees from [decentralized applications] can eventually cover the full on-chain costs of Chainlink oracle nodes—driving long-term viability across different ecosystems,” the project’s team added. Additionally at the Smartcon 2022 event, Chainlink further revealed the “CF Bitcoin Interest Rate Curve—in association with Chainlink.” Chainlink has partnered with the crypto benchmark prices and indices provider CF Benchmarks to launch the CF BIRC product. “CF BIRC is a replicable, market-representative, and manipulation-resistant base rate that will help remove uncertainty around crypto asset valuations while enabling increased capital efficiency and more predictable lending and borrowing across digital markets,” Chainlink’s announcement details. “With this data delivered reliably onchain through the Chainlink Network, all market participants will be able to engage with the Web3 economy with greater certainty and in exciting new ways,” co-founder of Chainlink Sergey Nazarov said on Wednesday. Moreover, Chainlink Labs is working with Coinbase Cloud as the two firms plan to provide non-fungible token (NFT) floor price feeds in real-time. This means NFT proponents and traders can get real-time floor value stats tied to NFTs like Bored Ape Yacht Club (BAYC), and the Cryptopunks. The CF Bitcoin Interest Rate Curve product aims to bolster transparency for lenders and borrowers, consistency, and better clarity for Web3 market participants. Sui Chung, the CEO of CF Benchmarks believes CF BIRC is a “major milestone for the crypto industry as a whole.” “This base rate will help unlock innovation across lending and borrowing platforms, asset valuation models, swap markets, and other financial primitives,” Chung added. What do you think about the CF BIRC product launched by Chainlink and CF Benchmarks? Let us know what you think about this subject in the comments section below. View the full article

Humans have sought to preserve memories since prehistoric times, etching images into cave walls and tying knots into a crudely fashioned cord. Tribes and clans gave birth to language that could preserve the past in words, and words found their way into print forms, thereby conceiving history. In the information age, the Internet has become the carrier of historical records, which achieved an almost geological level of permanence through the power of immutable “blocks” recorded on blockchains. Blockchain was a timely development–a solution, in fact, to certain curses of history. What are the curses of history? Centralized historical records: From ancient times to the present, the power to record history has been in the hands of centralized entities. Unofficial history and folk records may be available but are obscured by media nobility. Yet, despite the “information age,” this situation remains unbroken and arguably worse, as powerful centralized media accumulate more power than ever before. Meanwhile, the crypto world has produced a means to record that any central authority cannot access. The volume and complexity of information are overwhelming: Under the massive pile of data defining the information age, it is nearly impossible to either judge or asserts what is true. Ordinary people whose voices are minimized lack the means to assert their history. Perhaps in the future, as little will survive that can be believed about us as has survived from centuries before. HistoryDAO aims to solve the above through Web3 & blockchain technology. Using blocks to carry history During his exile, Herodotus wrote the book Ἱστορίαι (History) from his perspective, recording what he heard and saw during his travels throughout the Persian Empire in the 5th century BCE. This is the first entirely handed down the historical record in Western history. The Roman orator Cicero called him “the father of history.” As objective as Herodotus may have intended, all that he recorded was necessarily subjective from his point of view. Historical records typically lack certain fairness in this regard. Famously, “history is written by the victors,” but the truth is known by those who experience it. Even the ancient Greek historian Thucydides attempted to overcome the issue with a commitment to rigorous data collection and causal analysis. He consciously avoided reliance on third-hand impressions, noting, “The events described are either what I saw, or what I have carefully examined after hearing from those who have seen them in person.” Herodotus and Thucydides were great historians, but how might average witnesses be more involved? Blockchain may have an answer. Just as Bitcoin decentralizes minting power, HistoryDAO decentralizes the power of historical records. Thanks to blockchain technology, HistoryDAO allows users to issue, query and trade NFTs of any record on Ethereum and BNB Chain: ● HistoryDAO supports various data formats in the form of historical records, allowing users to record multi-dimensional information; ● HistoryDAO has a secondary market for NFTs that allows users to discover efficiently, evaluate, trade, manage, and ultimately value moments or histories; ● HistoryDAO is entirely owned and managed by the community, and the community agenda entirely drive the development of the DAO; In a nutshell, HistoryDAO is an NFT platform powered by DAOs, i.e. decentralized community organizations. While HistoryDAO provides the service of recording history for individuals, it also has a history that has been agreed upon by the DAO organization – the community is responsible for recording weekly, monthly, and annual historical figures, historical processes, historical albums and significant historical events. How does HistoryDAO organize products and commercialize them? Let’s explore the functions and services of HistoryDAO in depth from three aspects. Minting History NFTs and Secondary Markets As mentioned above, HistoryDAO lets users record diverse historical information, which will be kept in the user’s blockchain wallet in the form of NFTs, which are open, transparent, and 100% tamper-proof. Again, the data recorded by the user can be anything. Any bits and pieces of life will do, good memories with friends and loved ones, and great game moments. When people of the future reproduce the life of our contemporaries through NFTs recorded by HistoryDAO, they’ll be far more confident of dates and intact preservation than we are of the ancients by studying the map of the Qingming Festival. When minting NFTs, HistoryDAO users pay 0.01 ETH between a service fee and a gas fee. The service fee is directly transferred to the market liquidity reserve controlled by the DAO, which is the DAO treasury. The historical NFT minted by users can then be circulated and traded in the secondary market, paying the HistoryDAO market a 2% commission on the trade, which is also transferred to the DAO treasury. The HistoryDAO market will also sort various historical NFTs, and the sorting will refer to multiple properties, such as the listing time, page views, and favourites of the corresponding NFTs. In addition, each new algorithm change must be proposed in the DAO and supported by the community to ensure that the exposure of each historical NFT is as fair as possible. Initial NFT Offering (INO) To make history recording more efficient, HistoryDAO introduces the concept of “Initial NFT Offerings,” or INOs. Any user can contribute a topic to a collection of NFTs, which is done by co-building the collection of NFTs with other community members. Let’s take sporting events as an example. In a season of basketball, or whatever sport, users can create NFTs for each game, and as the season progresses, record the details of each game through information such as pictures, video clips, and player data. Of course, the NFT of a beautiful game is more collectable than the NFT of ordinary games, and the NFT of the final is more collectable than earlier playoffs. Users can always choose the best moments of any number of games to mint NFTs after the season. For brands, the INO campaign is a re-use of the influence of previous events, which is very cost-effective. Of course, this is just an example from the wide world of sports. But an INO campaign launched on HistoryDAO can be under any category imaginable. Brands with innovative marketing ideas can use HistoryDAO as well, commemorating their campaigns with NFTs and giving them longer life through trading and audience engagement. DAOs and Tokens Unlike other NFT platforms, HistoryDAO focuses more on community interaction and community power. HistoryDAO is a platform for recording history, not an NFT trading market. Therefore, HistoryDAO pays more attention to the algorithm for community activity in product design, hoping to build a strong community product like Reddit. Community power, in part, means preventing the centralization of historical records and freedom of speech. Decentralized communities can resist the censorship of historical records by powerful interest groups. They will increase people’s enthusiasm for decentralized historical records, enhancing the value of HistoryDAO NFTs. The governance of HistoryDAO will be facilitated by its native token $HAO. Holding $HAO is the entry qualification for DAO participation. After entering the DAO, community members can perform governance actions such as submitting proposals, commenting, and voting. In addition to governance, $HAO will be applied to all aspects of HistoryDAO products. For example, when the market conducts NFT transactions, if $HAO is used to pay, the market will only charge a 1.5% commission rather than the standard 2%. From Witnessing to Writing: How HistoryDAO Empowers Web3 There is no doubt that history has a special meaning for humanity and each human being. As Tang Taizong Li Shimin said, “Take copper as a mirror, and you can correct your clothes. Take people as a mirror; you can know the gains and losses. Take history as a mirror, and you can know the rise and fall.” History is the foundation on which we move forward. But relevant interest groups often revise historical records, covering up scandals and bending the record for private purposes. In any case, historical records are often guided by subjective emotions and lose their original fairness. Today, HistoryDAO is reversing the shortcomings of historical records through blockchain and NFT technology. But, just as Bitcoin decentralizes minting power, HistoryDAO decentralizes the power of history. Decentralized and tamper-resistant historical records will record history from multiple perspectives and pursue the fairness and authenticity of historical records. This is the embodiment of the spirit advocated by Web3 – Web3 advocates individual sovereignty and individual value in a diverse community context, in which case we believe the victors may no longer write history, and all human beings can participate equally. NFTs connected with topics in the real world will enhance the relevance of Web3 to the real world, attracting more people to understand the Web3 world actively. Enabling NFT adoption through accurate historical records will also drive the further development and maturity of the Web3 world. In addition, the INO campaign led by HistoryDAO can also provide strong marketing support for various brands. It has become a trend for Web2 brands to be marketed through Web3 means. Tiffany’s launch of CryptoPunks custom NFTs and Starbucks’ Starbucks Odyssey program are good examples. As the Web3 world grows in influence, more Web2 brands will be thinking about how to use Web3 for their marketing campaigns and community growth. For unfamiliar Web2 brands, a simple and intuitive Web3 marketing plan is all that is needed. And the INO campaign launched by HistoryDAO meets this need. This type of demand will likely be one of the main drivers of HistoryDAO’s future growth. Once in stone, next in text, now in block HistoryDAO’s founding mission was to allow everyone to record history without encroachment by any centralized power. The essence of HistoryDAO is to allow the decentralization of the power of historical records. This is undoubtedly groundbreaking, and it is also a deconstruction of the spirit of Web3 – Web3 is far more than decentralized finance, as it includes multiple levels of thinking, application, and integration into human culture. With the power of decentralized historical records endowed by blockchain technology, everyone in this world will have the opportunity to say, like Caesar: I came, I saw, I recorded! This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed: We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking. Villeroy de Galhau added that “unduly complex” crypto regulations could fall short of investor protection and money laundering prevention. The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in September 2020 as part of its digital finance strategy to bring crypto assets, issuers, and service providers across the EU under one regulatory framework. The European Parliament and Council reached a provisional agreement on the MiCA bill on June 30, but MiCA is not expected to be implemented until 2024. The European Central Bank (ECB) outlined in August its plan to harmonize the regulatory framework governing crypto activities and services in the EU. “There is currently no harmonized regulatory framework governing crypto-asset activities and services in the EU,” the regulator explained, adding that banks are increasingly considering whether to offer crypto products and services, and it is the ECB’s role to “ensure they do so safely and soundly.” The European Securities and Markets Authority (ESMA), the EU’s top securities markets regulator, warned in May that soaring inflation may drive retail investors into cryptocurrencies. ECB Vice President Luis de Guindos said Monday that eurozone inflation is becoming increasingly broad while growth is weakening. “We are seeing that in the third and fourth quarters there is a significant slowdown and we may find ourselves with growth rates close to zero,” he detailed. What do you think about the comments by Banque de France Governor François Villeroy de Galhau? Let us know in the comments section below. View the full article

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” Powell explained that the Federal Reserve is looking very closely at “the potential costs and benefits” of issuing a central bank digital currency (CBDC) in the U.S. He detailed: We are looking at it very carefully. We are evaluating both the policy issues and the technology issues, and we are doing that with a very broad scope. However, Powell clarified: “We have not decided to proceed and we don’t see ourselves making that decision for some time.” The Fed chairman explained: “We see ourselves as working in collaboration with Congress … but also with the executive branch which brings expertise to many of the issues that we have to deal with here.” He added, “At the end of the day, we will need approval from both the executive branch and Congress to move ahead with a central bank digital currency,” elaborating: We see this as a process of at least a couple of years where we are doing work and building public confidence in our analysis and in our ultimate conclusion. Noting that the Fed has not reached a decision on whether to issue a digital dollar, Powell concluded: “That’s where we are, we’ve got a lot of work to do.” Do you think the Federal Reserve should issue a digital dollar? Let us know in the comments section below. View the full article

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto asset’s market valuation is around $​​48.82 billion. Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12% In mid-June, Bitcoin.com News reported on the largest stablecoin asset tether (USDT), as USDT’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%. However, USDC’s market cap has shrunk a great deal during the last 83 days, as it has dropped by $6.7 billion since July 7, 2022. At the time of writing, at 4:15 p.m. (ET) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 billion. USDC’s market cap today is under the $50 billion zone but for most of 2022, the stablecoin’s market valuation remained above that region. On February 1, 2022, USDC captured the $50 billion mark, in terms of market capitalization, and it remained above that region until April 17. After May 13, USDC once again reclaimed a market valuation above the $50 billion zone, and it remained that way for roughly 130 consecutive days. While USDC’s market valuation shrunk by 12.05% during the last 83 days, 6.6% of the loss was erased from the market cap during the past 30 days. USDC’s market cap drop follows the company’s recent partnership with Robinhood Markets, but it also follows the recent auto-conversion moves by Binance and Wazirx. Both Binance and Wazirx auto-converted their customer’s USDC holdings (and other stablecoins) into BUSD if they did not withdraw the USDC by a specific date. Today, on September 28, statistics indicate that USDC has roughly $4.31 billion in 24-hour global trade volume. The stablecoin’s market cap dominance represents 4.985% of the crypto economy’s $983 billion in fiat value. USDC’s top trading pair today is tether (USDT) as it accounts for 32.25% of today’s usd coin trades. Tether is followed by EUR (27.16%), USD (22.56%), and GBP (6.51%) in terms of USDC’s top pairs on Wednesday. Stablecoins like tether (USDT) and usd coin (USDC) have seen a significant rise in euro and pound trading pairs since both fiat currencies started to slide against the greenback. What do you think about USDC’s market valuation sliding by more than 12% during the past 83 days and 6.6% over the last 30 days? Let us know what you think about this subject in the comment section below. View the full article

Following the latest meeting of the monetary policy committee, the Central Bank of Nigeria says it has hiked the monetary policy rate to 15.5%. By increasing the key interest rate by 150 basis points, the central bank hopes to “narrow the negative real interest rate gap and rein in inflation.” The rate increase came just days after the naira’s parallel exchange rate against the dollar plunged to a new low. Narrowing the Negative Real Interest Rate Gap According to the Central Bank of Nigeria (CBN), members of the bank’s monetary policy committee (MPC) have voted “unanimously to raise the policy rate to narrow the negative real interest rate gap and rein in inflation.” Following the vote, Nigeria’s key interest rate — the monetary policy rate (MPR) — now stands at 15.5%, up from 14%. In a statement, the CBN said the decision to increase MPR by 150 basis points was made because members of the MPC felt that any attempt to loosen the policy rate would be detrimental. At this [MPC] meeting, the option to loosen the policy rate was not considered as this would be gravely detrimental to reining-in inflation … The Committee thus voted unanimously to raise the Monetary Policy Rate (MPR) and the Cash Reserve Requirement (CRR). Ten members voted to raise the MPR by 150 basis points, one member by 100 basis points, and another member by 50 basis points. Nigeria’s inflation rate, which has now grown by 280 basis points in just four months, stood at 20.52% in August 2022. To stop it from growing further, the MPC said it is necessary for the CBN to ensure that “significant focus [is] be given to taming inflation.” Meanwhile, the bank’s decision to hike the MPR came just days after the Nigerian currency’s exchange rate against the U.S. dollar plunged to a new all-time low. According to a Bloomberg report, the naira’s parallel market exchange rate had dropped from 715 naira for every dollar to 720 naira per dollar. On the formal market, one U.S. dollar was buying just under 440 naira. Following the naira’s latest significant depreciation, the spread between the currency’s official and parallel market exchange rate has now widened to over 280 naira. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article