roadrunner

Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to adopt the Russian digital currency in trade, which will allow the country to circumvent sanctions imposed over the Ukraine war. Russian Federation Eyes Digital Ruble for Payments in Trade With China The Central Bank of Russia is gearing up to launch settlements with the digital ruble, the new incarnation of the Russian fiat currency that’s now being tested, as early as 2023. According to a statement by a prominent member of the lower house of Russian parliament, the sanctioned nation wants to use it in payments with China, which has become Russia’s main trading partner. Limited access to the global financial system due to financial restrictions introduced in response to its military invasion of Ukraine is forcing Russia to seek alternative means for foreign trade transactions. Alongside cryptocurrencies, the digital ruble is one of the options Moscow is considering in its efforts to bypass the sanctions. “The topic of digital financial assets, the digital ruble and cryptocurrencies is currently intensifying in the society, as Western countries are imposing sanctions and creating problems for bank transfers, including in international settlements,” the head of the Financial Market Committee at the State Duma, Anatoly Aksakov, recently told the Parlamentskaya Gazeta newspaper. The high-ranking lawmaker elaborated that the digital direction is key because financial flows can circumvent systems controlled by unfriendly nations. He added the next step for the central bank digital currency (CBDC) issued by the Bank of Russia would be to introduce it in mutual settlements with China. Also quoted by Reuters, Aksakov emphasized: If we launch this, then other countries will begin to actively use it going forward, and America’s control over the global financial system will effectively end. With the loss of markets in the West, including for energy exports, the importance of cooperation with China has increased significantly for Russia. Trade between the two countries has expanded and Russian companies have started issuing debt in Chinese yuan. Beijing is currently conducting domestic trials of its digital version, the e-CNY, and plans to use it in cross-border settlements, too. Russia is preparing to adopt comprehensive regulations for its crypto market in the coming months, including a new bill “On Digital Currency” that will expand the legal framework established last year by the law “on Digital Financial Assets.” Russian regulators are already developing a mechanism for international crypto payments and the respective draft provisions have been already agreed upon by the central bank and the finance ministry. Do you think China will accept the digital ruble in settlements with Russia? Share your expectations in the comments section below. View the full article

PRESS RELEASE. Finally, the moment has arrived. A dozen hours have gone into farming the materials needed for a brand-new mighty axe. The epic weapon crafted at the forge will take the player to unprecedented heights of power, but only for the player to discover it does not have any real value. This jarring feeling is all too familiar to gamers if they have spent hundreds of hours playing MMORPGs. Playing games takes time, effort, and sometimes even real money, but all that effort doesn’t change the gamers’ empty wallets. Instead, the gaming industry spends many resources on ensuring game items are worthless and circumventing that will result in RMT bans. In the game, Mirandus, however, not so much. Finally, an MMORPG where every item has value. The cache discovered by a player in the unexplorable glade has equipment not required for their gameplay? It is possible to put it up on the market for sale, so someone else can use it, and a lot more. The game brings a revolutionary era for MMORPG and blockchain gaming! The Fantasy RPG of the Future? Mirandus is a game where everything has real value beyond the confines of the fantasy world. As a fully Web3 integrated MMORPG, everything that makes the world in the game is wholly owned by the game players. Players can use items and game areas made and created by other gamers, like swords, to fend off monsters and hide in towns to stay away from goblins. It is a monumental thing for both Web3 and the whole RPG genre! Every player in Mirandus can play as any exemplar they own. These NFT characters can be freely traded on secondary markets and come with different races and special perks. Many are standard and readily available on OpenSea, but some exemplars are rare; for instance, out of the 50,000 total exemplars, only 1000 are elves. Mirandus is creating the future of the MMORPG genre here by being revolutionary and innovative. It is a game based on the idea that players own their character and everything that comes with building up their character in the game; and this gives a sense of ownership and eagerness to the gamers, who are encouraged to explore the game and discover different areas and items – since it will not be a waste of their time and for the time spent, present real-life worth outside the game too. The Adventurous Unknown The game Mirandus is a Web3 dream come true for many. To have total control over creating their gameplay and world, telling the story they want, crafting the weapons they want with real-world worth and exploring vast unexplored areas unrestricted is genuinely magical. Gamers will start in the world in a wild land, with mysteries waiting to be discovered by the adventurers of the unknown. Suddenly what a player does with their time in the game has real value. All the exploration and adventure can result in benefits in real life. Perhaps, in the game, a player’s character is a skilled craftsman, producing items that others need and can access; or some equipment/weaponry is useless to a gamer who can quickly sell it to someone else on OpenSea to save them hours of exploration and farming for materials. It is exciting to think about all these concepts in an MMORPG. Creating a real-world economy around time and success with your character could refresh a genre that has been stagnant for a long time. Many players are happy to spend their money on their RPG adventures, but game developers quash any effort to RMT and refuse to give real value to any in-game items. MMORPGs have always formed robust economies but have remained cut off from real value unless it was for the game publisher’s benefit. However, integrating Web3 within games could change the genre to something more beneficial for gamers. Mirandus Can’t Come Soon Enough Mirandus is still developing, but there is positive news about its progress. The development team has been updating the public about a few playtests so far and is transparent about their development with the game’s Discord community. For example, early game supporters who own an Exemplar have had the chance to participate in a playtest of the beta version and have earned Materium – the in-game currency. Overall, the game has some broad, sweeping goals for the future of Web3 gaming and MMORPG. It is a game with all the appeal of being epic, where gamers can genuinely make the gameplay their own – by having ownership of game assets that are real-value treasures and going on uncharted exploration and adventures. Learn more about Mirandus here: https://mirandus.game 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

TRON is a layer-1 blockchain utilizing a delegated proof of stake consensus mechanism. Its eco-friendly network, low fees, and easy to use developer tools have allowed it to attain a massive amount of user growth and innovative projects. Dave Uhryniak is the Director of Ecosystem Development at TRON DAO. He recently joined the Bitcoin.com News Podcast to talk about the technology: Dave joined the TRON DAO in January 2022 and has become a highly visible part of the team that drives global expansion as they identify key opportunities across the blockchain industry and ensure the TRON ecosystem is positioned to thrive. Involved in blockchain since 2016, Dave has provided strategic guidance for global payment companies and insurance companies, among others. He has led the successful development of multiple use cases in financial services, healthcare, and supply chain. He continually finds unique and creative ways to apply emerging technologies to enable corporations to achieve their strategic goals. Dave began his career as an equity research analyst at a leading U.S. mutual fund company, where he conducted thorough bottom-up analysis of global and regional financial service companies. Dave has often been quoted in leading media outlets, including the Wall Street Journal, Forbes, Bloomberg, and other publications. Dave is a Certified Blockchain Solution Architect, holds an MBA from Carnegie Mellon University Tepper School, and a BA from Westminster College (PA). Among the interesting topics discussed in this episode are the recent CCRI report, that TRON is one of the top eco-friendly blockchains, and the TRON Grand Hackathon 2022 Season 3. To learn more about the TRON network, check the latest developments on Trondao.org, Telegram, Discord, Reddit, GitHub, and Twitter. The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play. This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below. View the full article

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, the Bank of England noted that it was monitoring the “significant repricing” of U.K. assets very closely. Bank of England Opens the Stimulus Flood Gates Again — Central Bank Intervenes in UK Bond Markets The Bank of England (BOE) disclosed on Wednesday that it will start temporarily buying long-dated bonds and suspend the quantitative tightening tactics the central bank recently deployed. Two days ago, the U.K.’s native fiat currency, the pound sterling, slid to an all-time low against the U.S. dollar, and during the early morning (ET) trading sessions on Wednesday, the pound plummeted to 1.0541 nominal U.S. dollars per unit. Yields on U.K. government bonds have skyrocketed in recent times and are suffering from the same volatility as U.S. Treasury bonds. The yields in the U.K. experienced the largest rise since 1957 and in a statement Wednesday, BOE said it was monitoring the situation very closely. “Were dysfunction in this market to continue or worsen, there would be a material risk to U.K. financial stability,” the BOE said on Wednesday. The U.K. central bank added: “This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy. In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for U.K. households and businesses.” The BOE’s actions follow a similar move by the Bank of Japan six days ago. After the Japanese yen slipped to a 24-year low, the Japanese central bank decided to intervene in foreign exchange markets. The yen rebounded following the intervention, and on Wednesday, the pound sterling also rebounded against the greenback after the BOE’s announcement to begin temporary purchases of long-dated U.K. government bonds. At the time of writing, the pound is trading for 1.0661 nominal U.S. dollars per unit, down 0.61% during the last 24 hours. The BOE detailed that it plans to intervene “on whatever scale necessary” to “restore orderly market conditions.” What do you think about the Bank of England intervening in U.K. bond markets? What do you think about the pound’s performance against the U.S. dollar? Let us know what you think about this subject in the comments section below. View the full article

After bitcoin neared $25K roughly 44 days ago, the crypto asset’s price has lost more than 17.88% in value against the U.S. dollar. Onchain analysis from researchers at Glassnode details that the price drop has placed short-term holders into “severe unrealized loss.” Long-term holders, on the other hand, are holding strong and Glassnode researchers say numerous metrics are “displaying a full cycle detox.” Long-Term Bitcoin Holders Hold Tight The crypto bear market continues to plague short-term holders, according to a recent onchain newsletter written by Glassnode and Ukuria On-Chain. While bitcoin (BTC) has lost 17.88% in value against the U.S. dollar since August 14, 14-day statistics show BTC is down roughly 9.3%, and year-to-date, bitcoin has shed 53.2%. Furthermore, since the crypto asset’s lifetime price high, 11 months ago on November 10, 2021, BTC is down 71.3%. Glassnode’s newsletter published on September 26 highlights the Bitcoin Realized Cap HODL Waves chart which shows how BTC’s long-term holders remain steadfast. According to the data from Glassnode’s Telegram channel prior to publishing the onchain newsletter, “coins aged 3-months+ now account for an all-time high (ATH) of 86.3% of all USD wealth held by the BTC supply.” Glassnode’s report details that the Realized Capitalization HODL Waves chart shows the U.S. dollar wealth held by individual age bands. “With mature spending severely muted, the degree of HODLing behavior is historically high,” Glassnode details. “In a binary system of just Young and Mature coins, an increase in mature coin wealth held in BTC directly leads to an equivalent decrease in Young coin wealth.” In terms of long-term holders, Glassnode’s report called “The Great Detox” states: Currently, wealth held by mature coins is at an ATH, due to the dominant investor behavior being a refusal to spend despite exceedingly uncertain global markets. Thus, almost all market activity is being conducted by the same cohort of young coins repeatedly changing hands. As the number of young churning coins incrementally decreases, it can lead to an eventual supply squeeze if and when the market tides turn. Bitcoin’s ‘Bottoming Process’ and the 4-Year Trend There are many believers in bitcoin’s long-term game. “After months of waiting, for just the fourth time ever bitcoin’s short-term holder cost basis has fallen below its long-term holder cost basis,” Will Clemente wrote on September 24. “This indicates a bottoming process. The next cross to watch for is a bull cross of the short term back above the long term.” On many occasions, Microstrategy’s Michael Saylor has talked about BTC’s four-year cycles. On September 26, when the U.S. dollar continued to depress a large basket of fiat currencies, Saylor spoke about bitcoin’s relationship with the greenback across four years. “Over the past year currencies have collapsed against the dollar,” Saylor tweeted. “CAD -8%, CNY -9%, AUD -11%, ZAR -17%, KRW -18%, EUR -18%, PLN -21%, GBP -22%, JPY -23%, TRY -52%. Over the past four years, the dollar has collapsed -67% against bitcoin,” the Microstrategy executive added. What do you think about the fact that long-term holders have been holding strong in contrast to short-term holders? Let us know what you think about this subject in the comments section below. View the full article

Following a turbulent start to the week, bitcoin was back in the green on Tuesday, as the token climbed back above $20,000. The move saw prices race to their highest point in nearly two weeks, moving past a key resistance level in the process. Ethereum was also trading higher, as it neared the $1,400 level. Bitcoin Bitcoin (BTC) neared a two-week high on Tuesday, as the token rebounded following a recent bearish spell. Following a bottom of $19,006.11 to start the week, BTC/USD raced to an intraday peak of $20,294.34 on Tuesday. This is the highest point that the token has traded at since September 14, and is marginally above a resistance level of $20,250. As of writing, BTC is still trading slightly above this ceiling, with the 14-day relative strength index (RSI) also tracking above a similar threshold. Currently the index resides at a reading of 52.72, which is above its own resistance level of 49.00. Should price strength continue to move in an upward direction, then we could see BTC back above $21,000 in the coming days. Ethereum On Tuesday, ethereum (ETH) was also trading higher, with the world’s second largest cryptocurrency moving back towards the $1,400 level. ETH/USD rose to a high of $1,395.31 earlier in the day, which is the highest point the token has hit in the last five days. The move came following a breakout of a recent resistance of $1,335, with the RSI also moving past a ceiling of its own. In this instance it was the 39.50 point, which had been a major obstacle to prices rising over the past week. As of writing, the index is tracking at 45.00, which is yet another point of resistance, however, bulls have so far maintained their positions, despite the increased uncertainty. Many expect ethereum to surge past the $1,400 mark at some point in today’s session, with the $1,410 level a possible exit point. Register your email here to get weekly price analysis updates sent to your inbox: Could we see ethereum climb towards $1,500 this week? Leave your thoughts in the comments below. View the full article

Nubank, a Brazil-based digital bank, has announced a new milestone in its operations. The company announced that it has reached 70 million customers in Latam, making it one of the biggest financial institutions of its kind in Brazil. The company also announced that almost 2 million of its customers are cryptocurrency investors. Nubank Reaches 70 Million Customers; Crypto Customers Reach 1.8 Million Latam has become fertile ground for companies providing alternative finance and cryptocurrency-based services, due to its unique set of circumstances. Nubank, a Brazil-based digital neobank, has recently reached a milestone in the region, announcing it now serves 70 million customers. Most of these customers, as expected, are based in Brazil. However, the neobank has also managed to get into other markets, such as Mexico, where the company has 3.2 million customers, and Colombia, with 400,000 customers. The products of the company that have experienced the most significant growth include Money Boxes, which are investment and planning options that have registered more than 1.7 million users as investors. Another area that has powered the growth of Nubank is its cryptocurrency division, which allows customers to purchase, hold, and sell digital assets from the same app. According to a press release, more than 1.8 million customers have already made at least one cryptocurrency purchase using Nubank’s app. About the growth of the company and the services offered, David Velez, CEO and founder of Nubank, stated: Our accelerated growth is driven by an ongoing search for efficiency, which balances expansion, new products, and increased revenue per customer. Nubank is a project for the next decades and we remain firm in our purpose of freeing all people from any complexity in financial services in Brazil, Mexico, and Colombia. Crypto Market Thrives in Brazil The company opened its cryptocurrency trading services for more than 54 million customers in Brazil in June, also holding bitcoin as part of its balance sheet. This announcement opened the floodgates for more companies in Brazil to follow in Nubank’s footsteps and also enter the cryptocurrency services market. One of the biggest rivals of the company is Mercado Libre, an e-tailer company that started offering crypto services last year, and that recently issued its own cryptocurrency, called Mercadocoin. Other companies have also followed suit, including Rico, a financial brokerage platform that aims to offer cryptocurrency services for 2023, and Picpay, a payments platform that plans to roll out its own Brazilian real-based stablecoin. Even traditional banks like Santander have announced they will include cryptocurrency in their service portfolio in the coming months. However, crypto is still not regulated in the country, as the national cryptocurrency bill has failed to be discussed by the Brazilian Congress due to election-related matters. What do you think about the crypto-powered growth of Nubank in Brazil? Tell us in the comments section below. View the full article

PRESS RELEASE. RebusChain, a platform set to take DeFi mainstream, is going public by announcing its public coin distribution (PCD) late this Summer. The PCD means those supporting its mission can now acquire coins via liquidity bootstrap pool (LBP) on the Osmosis network, and this marks a significant milestone in the Rebus project, following successful announcements of various financial and platform partnerships. The founding team at Rebus features unique foundations in entrepreneurship, cyber security, traditional finance, and the emerging DeFi field. CTO and COO Pier Stabilini and Nicola Onassis, respectively, have experience working together and starting new businesses. When introduced to Paolo Baroni, Financial Product Lead, the three saw an immediate opportunity to do something big, and Rebus was born. Typical of new technology markets, the DeFi space is quite nuanced and still developing. However, all people should have access to blockchain-based transaction tools–it’s the most trustworthy transaction method humans have developed. The demand for access to DeFi was more significant than participation, and the problem was the complexity. Rebus was born to provide better answers to two tough questions “How do I get into DeFi, and what can I do with it?” Rebus is opening up a significant growth path for the entire DeFi space by eliminating the complexity and paving the way for more utility. Rebus ($REBUS) is a utility currency within the RebusChain platform that satisfies regulations and allows for fast, secure, and low-cost transactions. $REBUS (along with the Rebus Investment Platform) is the regulatory vehicle by which all this is possible. The team continues to grow and build a strong community around the goal of improving the world of business transactions. RebusChain is a platform that will provide DeFi (Decentralized Finance) investment opportunities to traditional investors clearly and conveniently. By making a platform that allows TradFi houses like Asset Managers, Financial Planners, et al. to carry DeFi products, the adoption of crypto investing will be opened up to the entire markets of both institutional and individual investors. The demand for existing crypto assets will increase as offers are made to the traditional clientele of the Rebus Financial Partnerships (accounting for $5B+ in assets and growing) and yield new opportunities for existing crypto investors to put their assets to work earning income via Rebus Platform Partners. A Public Coin Distribution will kick off the public trading of $REBUS, which will be available on a handful of centralized and decentralized platforms. On September 12th, 2022, the $REBUS airdrop took place, an event that officially kicked off the launch of the RebusChain platform. The coin will also be available via LBP on the Osmosis platform, a type of automated market-maker (AMM) designed explicitly for token launches and sales. With an LBP, tokens are distributed to achieve the initial price discovery of $REBUS. $REBUS’ role on the RebusChain platform is to regulate transactions. The token’s value will be derived from the number of transactions on RebusChain, making $REBUS an attractive prospect as crypto moves toward a hyper-adoption phase with the rise of utilities and a decrease in complexity. Essentially, it supports and hedges any investments made in the Cosmos ecosystem. Additionally, $REBUS will use blockchain technology to satisfy regulatory requirements without relinquishing liquidity. Overall, the $REBUS token will have three primary functions on the RebusChain platform: Paying for all transactions, fees, and services, that occur within the RebusChain ecosystem Securing the network through proof-of-stake Provide on-chain governance for the RebusChain Ethical fund pool and the Community fund pool Visit the website for more information about the project, its founders, partners, and to-be-released financial products (Q1 CY23’). RebusChain believes it must bring decentralized investment opportunities to traditional investors in a convenient and easy-to-understand manner. The project aims to implement a range of financial products suited to the needs of its users and customers. RebusChain is active on several social media platforms, including Telegram, Discord, and Twitter. Or visit the project at its official website. 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

One of the world’s biggest cryptocurrency exchanges by volumes traded, Binance, has said its futures products are now available to eligible South African users. In a message to its users, Binance suggested it has rectified issues with the regional regulator and that its activities in South Africa are now above board. Products Offered Unchanged Almost a year after Binance blocked South African users from accessing its futures trading platform, the crypto exchange has said perpetual and delivery futures contracts are now available to eligible users from the country. In a statement, the crypto exchange told its users that the type of futures products being offered has “not changed from Binance’s previous futures offering in South Africa.” The cryptocurrency exchange however said it had altered the way such product offerings are provided to South African users. As reported by Bitcoin.com News in October 2021, Binance said it would stop South African users from accessing its “futures, options, margin, and leveraged tokens products.” The crypto exchange’s abrupt decision came shortly after a regulator, the Financial Sector Conduct Authority (FSCA) warned the public against having dealings with Binance. At the time, the regulator revealed that the crypto exchange was not authorized to offer any financial advice or render any intermediary services in South Africa. Juristic Representative However, in a message to users, Binance suggested it has rectified issues with the regulator and that its activities in South Africa are now above board: From 2022-09-26 USDS-M and COIN-M perpetual and delivery Futures contracts will be available to South African users on Binance through a juristic representative arrangement with FiveWest OTC Desk (Pty) Ltd (FiveWest). Fivewest is a licensed financial services provider in terms of the Financial Advisory and Intermediary Services Act, 2002, and its FSP number is 51619. To ensure that Binance complies with local laws, the crypto exchange’s statement said Brickhouse — a member of “the Binance group of companies” — will be offering “derivative products to users in South Africa in its capacity as a juristic representative of Five West.” 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

Telefonica, one of the largest telecom carriers in Spain, and Qualcomm, the fabless chip designer, have inked a partnership to advance joint extended reality and metaverse initiatives. Telefonica will use Snapdragon Spaces, a new technology from Qualcomm, to bring these metaverse experiences to its customers. The agreement also includes the possibility of pursuing joint commercial opportunities. Telefonica Partners With Qualcomm to Bring Metaverse Experiences to Its Customers Telefonica, one of the biggest telecom carriers in Spain and Europe, has announced a partnership with Qualcomm, the chip maker, in order to collaborate in the production of metaverse-related initiatives. The agreement establishes that the telecom infrastructure of Telefonica will serve as a platform to deploy experiences produced with Qualcomm technology. This technology, named Snapdragon Spaces, is a full stack of programs that allow designers to focus on developing these experiences, especially for augmented reality headsets. Spaces is also a device-independent technology, so the metaverses designed using it can be run with any headset on the market, including the Meta Quest line of devices. Telefonica will include this tech in initiatives to be developed via its Metaverse Hub, a location dedicated to Web3, augmented reality, and metaverse initiatives. About this partnership and what it means for the future of the company, Telefonica’s VP of devices & consumer IoT, Daniel Hernandez, stated: XR (extended reality) will bring a new dimension to the digital and real world, allowing people to communicate, do business, socialize and be entertained in new ways. We are preparing for this future, building the infrastructure, upgrading equipment, evolving our services, and establishing the partnerships that will allow us to bring innovative new devices and services to customers. Two Brands in the Metaverse The interest of these two companies in the metaverse and augmented reality tech is not new, as they have previously invested and made partnerships in the area. Qualcomm CEO Cristiano Amon gave his take on the metaverse in May, stating it will be a very big opportunity for the companies involved. The company recently closed a deal with Meta to develop metaverse-specific silicon to be used in Meta’s next line of headsets. Telefonica has also been involved in metaverse projects already. The company invested an undisclosed amount in Gamium, a Spanish open world, through Wayra, an open innovation platform of the company. What do you think about the latest partnership between Qualcomm and Telefonica? Tell us in the comments section below. View the full article

Nanjing University in China has reportedly launched one of the first majors in the country dedicated to the study of metaverse-related knowledge. The university, located in eastern China, stated that this new push is directed to impart new metaverse-related courses that will help more students to fulfill the needs of metaverse companies. Nanjing University to Train Metaverse Workers More universities and educational institutions are including the metaverse as an element in their courses worldwide. This time the university of Nanjing, located in the east of China, will launch one of the first metaverse majors in the country in its latest metaverse push. The Nanjing University of Information Science & Technology is renaming one of its main departments, the Information Engineering Department, to the “Metaverse Engineering Department,” with the objective of integrating more metaverse-related courses into the university. According to sources, this might be the first department that includes the word “metaverse” in China. Pan Zhigeng, dean of the renamed department, stated this move will contribute to the integration of the institution with metaverse-related enterprises, in order to identify the needs of these groups and train more talent to fill their rosters. Zhigeng also stated that students would be more qualified to serve in three different areas including smart healthcare, smart education, and digital tourism. To advance the university in these areas, the department will establish three different working groups: the metaverse research institute, the smart meteorological research institute, and the smart medical research institute. Metaverse and Education Other universities are also using the metaverse as a tool to facilitate the relations and integration of students. In July, The Hong Kong University of Science and Technology announced the construction of an online metaverse campus called Metahkust, that would allow remote students to attend classes together as if they were in the same venue. This would yield better results than using 2D video apps (like Zoom) for the same approach, according to university personnel. Also in July, the University of Tokyo also announced it would offer metaverse engineering courses later this year. Earlier this month, Meta also reported its participation in the creation of 10 online metaverse campuses, in partnership with a metaverse construction company named Victoryxr. This is part of the Immersive Learning project, a $150 million initiative that seeks to introduce the metaverse in educational environments. What do you think about Nanjing University and its metaverse focus? Tell us in the comments section below. View the full article

The global law enforcement agency the International Criminal Police Organization (Interpol), issued a notice for Terraform Labs co-founder Do Kwon just a few weeks after a warrant for his arrest was issued by South Korean authorities. The red notice enables South Korea to receive help from global law enforcement bodies in locating and “provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.” Global Manhunt for Terraform Labs CEO Just a few weeks after South Korean authorities issued an arrest warrant for Do Kwon and his associates, the global law enforcement agency the International Criminal Police Organization (Interpol) has reportedly issued a red notice for the Terraform Labs co-founder. The issuing of the notice follows reports that Kwon is not residing in Singapore as Korean authorities initially thought. According to Interpol, red notices are “issued for fugitives wanted either for prosecution or to serve a sentence.” The red notice enables South Korea to receive help from global law enforcement bodies in locating and “provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.” Do Kwon’s Silence As reported by Bitcoin.com News, South Korean prosecutors accuse Kwon and five other Terraform Labs affiliates of violating the country’s capital markets law. Kwon also faces other charges that prosecutors have not divulged. In his initial response to reports that Korean authorities had issued an arrest warrant for him, Kwon insisted in a September 17 tweet that he was not on the run. Instead, he claimed that he was cooperating with “any government agency that has shown interest to communicate.” The Terraform Labs chief executive officer has not issued a response to the reports that show Interpol has issued a red notice. Earlier this afternoon at 1:05 p.m. (ET), Kwon responded to a tweet that said: “[Do Kwon] where [are] you hiding fam?” Kwon replied that he was “writing code” in his “living room” and further told the individual to come and visit, and that they should have a cigarette soon. What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state securities regulators concerning the company’s Earn Interest Product (EIP). The state of California insists that since June 2020, Nexo has “offered and sold unqualified securities, in the form of Earn Interest Product accounts, to the United States public at large and to California residents.” The state of New York and attorney general Letitia James filed a lawsuit against Nexo. Similarly, the state of New York and James say that Nexo started offering the EIPs around June 2020, up until the present day. James claims Nexo violates New York’s Martin Act, and acted as “unregistered securities brokers or dealers.” Washington is saying the same and Washington’s securities division mentioned several states are in on the law enforcement actions together. Kentucky, Vermont, South Carolina, and Maryland have all filed similar actions against Nexo, and many of the complaints are ordering Nexo to cease and desist current operations tied to the firm’s interest-bearing accounts. Similar law enforcement actions took place in 2021 against Celsius before the company went bankrupt. Blockfi was also targeted by several state securities regulators in 2021 and in February 2022, Blockfi was charged by the U.S. Securities and Exchange Commission (SEC). Blockfi decided to settle with the SEC and paid $100 million in penalties. Crypto lenders have had significant issues this year, and when rumors circulated that Celsius was insolvent, Nexo offered to purchase the company’s assets. Blockfi explained that it had zero exposure to Celsius but when Celsius paused withdrawals, the move caused a significant “uptick in client withdrawals” on the Blockfi platform. Blockfi did, however, have exposure to the now-defunct crypto hedge fund Three Arrows Capital (3AC) and Blockfi’s CEO said the firm lost $80 million from the bankrupt company. Nexo has been tweeting on September 26, but the crypto lender has not issued a statement concerning the securities regulators issuing cease and desist orders. Three days ago, the NFT lending desk held an ask-me-anything (AMA) session featuring the co-founder of Nexo and the firm’s managing partner. What do you think about the eight regulators that targeted Nexo on Monday? Let us know what you think about this subject in the comments section below. View the full article

Grayscale Investment’s Bitcoin Trust (GBTC) has dropped to a new low this week as the bitcoin fund tapped a record 35.18% low against bitcoin spot prices. GBTC’s discount to spot has been underwater for a total of 577 consecutive days. GBTC Discount to NAV Widens by 35% — Fund Reaches an All-Time Low Against BTC Spot Price The Grayscale Bitcoin Trust (OTCMKTS: GBTC) is the oldest, and one of the most popular, bitcoin (BTC) funds on the market today. However, in recent times GBTC has been suffering from a discount compared to BTC’s spot market values. Unfortunately, GBTC has been trading at a discount rather than a premium since February 26, 2021, or for roughly 577 straight days. GBTC’s current pre-market value is $11.20 and according to Securities and Exchange Commission (SEC) filings, there’s 643,572 BTC held by the trust. Metrics indicate that the 643,572 BTC equates to 3.065% of the 21 million bitcoin supply cap. GBTC’s 35.18% discount is the fund’s all-time low against BTC spot price values since the fund started. Many people believe GBTC’s discount derives from the fact that there are several exchange-traded funds now, and Grayscale’s efforts to transform GBTC into an ETF (exchange-traded fund) have failed so far. The U.S. SEC rejected the company’s latest attempt in June, and Grayscale decided to sue the SEC over the rejection. Trader and entrepreneur Bob Loukas discussed the GBTC situation on Saturday. “Grayscale bitcoin discount widened record 35%,” Loukas tweeted. “At Oct 2020 blow-off point. Meh institutions. If BTC falls to lower teens coming months, this [is] a good option. Have to be willing to hold to [the] point where a redemption option unlocks value. Even so, must be limit to discount,” Loukas added. GBTC neared a 30% discount last March according to Glassnode statistics, and at the time institutional investors were flocking to acquire GBTC at the discount. Grayscale and its parent company Digital Currency Group (DCG) have attempted to fix the discount as well, by leveraging share buybacks. While institutional investors flocked in the past and Loukas explained that GBTC could be a good option, investors don’t seem to be rushing toward GBTC’s discounted price. “Who thought gaining exposure to [bitcoin] through GBTC was a good idea in the first place?” Tom Mitchelhill tweeted on Monday. “They’re literally selling it at a 36% discount and the market still refuses to touch it,” Mitchelhill added. If the SEC approved GBTC to transfer into an ETF, the discount to BTC’s spot prices could be erased. The U.S. regulator, however, has yet to approve a spot market exchange-traded fund and the SEC has cited market manipulation as one of the main reasons to reject a fund with such elements. In the meantime, many traders wholeheartedly believe BTC spot prices in the lower teens are coming. “Some of us have been talking about needing to see $8-12K BTC before we can reset and get a new bull [underway],” the Twitter account Classical Ape tweeted last week. “Still not there yet. My firm has had this target set for about a year+. Oh, and the GBTC discount is an issue too.” What do you think about GBTC trading at a 35% discount from bitcoin spot prices this week? Let us know what you think about this subject in the comments section below. View the full article

On Wednesday, the Japanese financial holding company and principal member of the Nomura Group, Nomura Holdings, announced the launch of a crypto-focused venture capital unit called Laser Digital Holdings. Nomura’s move follows a number of financial giants entering the cryptocurrency industry this year. Nomura Introduces Laser Digital Holdings The investment banking giant from Japan, Nomura Holdings, is stepping into the world of crypto assets and in the coming months the new venture will reveal a slew of “new services and product lines.” Nomura is one of the largest investment banks in Japan and one of the oldest in the country. The investment company established itself 97 years ago in Osaka in 1925 as Nomura Securities. The new Laser Digital Holdings is a Switzerland-incorporated holding company that aims to establish three vertical product offerings including secondary trading, venture capital, and investor products. The new venture will be led by Jez Mohideen as CEO and Steven Ashley as Laser Digital’s chairman. Switzerland was chosen for the country’s established and “robust regulatory regime,” Nomura’s press release discloses. “Staying at the forefront of digital innovation is a key priority for Nomura,” the investment bank’s president and CEO Kentaro Okuda remarked on Wednesday. “This is why, alongside our efforts to diversify our business, we announced earlier this year that Nomura would be setting up a new subsidiary focused [on] digital assets.” Nomura’s latest offering follows Nasdaq’s new crypto custody venture announced on Tuesday. Furthermore, before Nomura and Nasdaq’s announcements, Fidelity Digital Assets, Citadel Securities, and Charles Schwab Corp. announced a collaborative effort with plans to launch a crypto exchange that will deal with both retail and institutional clients. The three financial companies are calling the exchange EDX Markets (EDXM), and former Citadel Securities executive Jamil Nazarali was named the trading platform’s CEO. The Japanese financial giant Nomura detailed on Wednesday that the first product Laser Digital plans to drop is a venture capital (VC) unit called Laser Venture Capital. “[The new unit] will invest in companies in the digital ecosystem, with a focus on decentralized finance (defi), centralized finance (cefi), Web3, and blockchain infrastructure,” Nomura’s press announcement concludes. What do you think about Nomura Holdings stepping into the world of crypto assets? Let us know what you think about this subject in the comments section below. View the full article

Two days ago, U.S. president Joe Biden was criticized for claiming inflation in America hasn’t increased during the past few months. “I’m telling the American people that we’re going to get control of inflation,” Biden stressed during his “60 Minutes” interview that aired on Sunday night. Amid Biden’s claims, ahead of the next Federal Reserve meeting on Wednesday, the U.S. Dollar Index (DXY) crept up to the 110.776 region. Meanwhile, a recent report published by CCP-backed Global Times is pressing for de-dollarization as the U.S. dollar’s rise “might be the beginning of another nightmare” for “many countries in the world.” Biden Highlights That US Gas Prices Are Back to March Levels After His Administration Drained the US Strategic Petroleum Reserve by 190 Million Barrels Inflation has been awful in the United States but U.S. president Joe Biden has told the American people it will be tamed. His commentary during a “60 Minutes” interview was aired a few days before the Federal Reserve meets to hike the benchmark interest rate by 75 or 100 basis points (bps). Biden took a lot of flak from economists and market strategists after he noted that he believes the country’s inflation rate hasn’t spiked for months. Furthermore, the U.S. president has been taking pride in the fact that America’s gas prices have dipped. “Folks, gas prices are now back to levels they were at in early March,” Biden tweeted on Tuesday. “That means nearly all of the increases since the beginning of Russia’s war in Ukraine have been wiped out.” However, the Biden administration hasn’t really explained why gas prices have dropped amid the Ukraine-Russia war and the highest inflation in 40 years. The U.S. president has failed to mention that petroleum prices in the U.S. have dropped because he’s been tapping into the U.S. Strategic Petroleum Reserve (SPR). While Biden mentions gas prices are back to levels they were at in early March, he forgets to mention that the administration started draining the SPR on March 31, 2022. In fact, the SPR is at its “lowest level since 1984,” according to various reports published nationwide. The Ukraine-Russia war is still ongoing and Europe is still dealing with a significant energy crisis. While Biden has complained about carbon emissions the SPR has shrunk from 640 million barrels of oil to 450 million barrels. Furthermore, despite the U.S. funneling billions to Ukraine, Russian president Vladimir Putin detailed this week that he is not backing down, vowing to use “all means available” to win. While DXY Creeps Higher, CCP-Backed Editorial Claims US Bureaucrats Have Committed ‘Financial Looting’ and a Strong Dollar Is a ‘Nightmare’ for Other Nations Moreover, a CCP-backed Global Times opinion editorial is urging foreign nations to lean toward de-dollarization as the rising dollar may become “the beginning of another nightmare.” The editorial was published the day before the U.S. Federal Reserve meets to raise the federal funds rate. “A super strong U.S. dollar and the fall of other currencies will, to a certain extent, ease the scorching inflation in the U.S. economy, but the world will have to pay for it,” the Global Times says. Since the end of World War II and the start of the Bretton Woods agreement, the Global Times opinion piece author claims U.S. bureaucrats have committed “financial looting” and have exported crises to foreign nations. After the U.S. Dollar Index (DXY) dropped for three consecutive days, the DXY has risen on Wednesday to 110.776 ahead of the Fed’s meeting. The DXY is a gauge against six major fiat currencies and during the past few months, the greenback has been stronger than ever. The Global Times editorial says America’s problems will not be solved by the Fed and Washington because these entities are not willing to see the “root cause.” “If people dig the root cause, this is an inevitable consequence of U.S.’ blind and unlimited money printing to temporarily maintain ‘prosperity,’” the opinion editorial notes. “In other words, in the face of the deep-seated problems exposed by the 2008 financial crisis, Washington has been powerless, and unwilling as well, to solve them.” The author adds: While the political elites in Washington boast of the ‘myth of the American system’ and take credit for ‘alleviating the crisis,’ thousands of poor families around the world are being trampled by them. What do you think about Biden’s claim regarding gas prices in the U.S. while he depletes the SPR? What do you think about the editorial published by Chinese state media that argues a strong dollar will be a nightmare for foreign nations? Let us know your thoughts about this subject in the comments section below. View the full article

The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21, 2022, the U.S. central bank and Fed chair Jerome Powell increased the benchmark bank rate by 75 basis points (bps). The Fed’s federal funds rate is now coasting along at 3.25%. The decision follows the recent CPI report published by the U.S. Bureau of Labor Statistics and Fed officials like Powell noting that that the American economy may feel “some pain.” The Fed’s 75bps rate hike is the third three-quarters of a percentage point raise in a row. During the last rate hike, senator Elizabeth Warren (D-Mass) said if the Fed wasn’t careful the central bank could “trigger a devastating recession.” Prior to the 75bps rate hike in July, the U.S. central bank increased the federal funds rate by three-quarters of a percentage point on June 15, 2022. It was the largest Fed rate hike since 1994 when the 13th chair of the Federal Reserve Alan Greenspan codified the 75bps hike that year. On Wednesday, the Fed said: “The committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the committee decided to raise the target range for the federal funds rate to 3 to 3-1/4 percent and anticipates that ongoing increases in the target range will be appropriate.” The Fed added: The committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Many investors and economists believe the rate hike was priced in already by markets. Prior to the Fed’s three-quarters of a percentage point hike, a few economists and analysts predicted there was a slight chance the U.S. central bank would raise the rate by a full-percentage-point (100bps). What do you think about the Fed hiking the federal funds rate by 75bps on Wednesday afternoon? Let us know what you think about this subject in the comments section below. View the full article

The world’s largest producer of application-specific integrated circuit (ASIC) bitcoin miners, Bitmain Technologies, has revealed the company is offering a discount on Antminer S19 Pro mining rigs. The 100 terahash per second (TH/s) machine is selling for $19 per terahash or $1,900 per unit. The Antminer mining rigs are 80% cheaper than they were five months ago on March 28. Bitmain Cuts S19 Pro Prices Down to $19 per Terahash Amid the crypto winter and the crypto economy’s market capitalization hovering around $927.21 billion, Bitmain Technologies has decided to sell its Antminer S19 Pro mining rigs at a discount. At the same time, the price of bitcoin (BTC) is down 5.52% during the last seven days and is currently trading for under $20K per unit. The cryptocurrency network’s mining difficulty is at an all-time high and the network’s hashrate is coasting along today at 223.73 exahash per second (EH/s). “Bitmain is offering an Antiminer S19 Pro special discount for only $19/T,” Bitmain tweeted on Tuesday. “For bulk orders, please contact [a] Bitmain sales representative directly. Customers who have already purchased S19 Pro will be eligible for coupons,” the company added. Bitmain’s 100 TH/s Technology Is 80% Cheaper Than 5 Months Ago, Crypto Winter Highlights ASIC Purchases at a ‘Discounted Price’ Bitmain’s sale is a lot cheaper than the Antiminer S19 Pro’s original prices. On March 29, 2022, a customer could purchase an Antiminer S19j Pro with 104 TH/s for $9,984 per unit. The 100 TH/s S19, which produces a slightly smaller hashrate than the S19j Pro, is 80.96% cheaper — at $1,900 per unit — than S19 prices five months ago. Lower prices may be contributing to the massive expansion from a number of operations and Bitcoin’s sky-high hashrate in recent times. This week, the Nasdaq-listed and Gwyneth Paltrow-backed Terawulf (Nasdaq: WULF) revealed its Lake Mariner mining data center now has 12,000 Mining Rigs operating at the facility and a great deal of Terawulf’s rigs are Antminer S19s. Cleanspark Inc. (Nasdaq: CLSK) has also detailed that the crypto winter has brought “unprecedented opportunities” after it acquired 1,061 ASIC mining rigs at a “discounted price.” What do you think about Bitmain dropping the price of the Antminer S19 Pro units this week? Let us know what you think about this subject in the comments section below. View the full article

XRP remained close to a four-month high on Wednesday, following a recent breakout of a key resistance level. The token was above $0.4000 for a second consecutive session, which happened for the first time since June. Litecoin also edged higher, after prices rebounded following recent losses. XRP XRP continued to trade close to a four-month high on Wednesday, as bullish sentiment remained strong within the token. Following a low of $0.3774 earlier in today’s session, XRP/USD raced to a peak of $0.4215 on hump day. The move comes after the token broke out of its key price ceiling of $0.4000 on Tuesday, hitting its highest point since June 1 in the process. Although prices have since declined, and as of writing are trading at $0.4044, many still believe that further rallies could come. Some believe that bulls are targeting the $0.4500 point, which appears to be the longer-term resistance point in XRP. However, with the 14-day relative strength index (RSI) tracking at 62.45, prices may currently be overbought, leading to an influx of bears, opposed to bulls. Litecoin (LTC) Litecoin (LTC) was also in the green in today’s session, and prices rebounded following recent losses. Following a drop to a two-month low of $50.01 to start the week, LTC/USD rose to an intraday peak of $54.17 on Wednesday. The drop led to the token falling below a key support point of $52.00, however bulls reentered the market, sending prices higher. Historically, once above the aforementioned floor, bulls typically take prices towards a ceiling of $60.00. In order for this to happen on this occasion, we will need to see LTC climb above another ceiling, this time within the RSI. As of writing, the index is tracking at 43.18, however it is fast approaching a resistance of 44.20, which would need to be overcome if litecoin were to move higher. Register your email here to get weekly price analysis updates sent to your inbox: Do you expect litecoin to climb back above $60.00 this week? Let us know your thoughts in the comments. View the full article

On Tuesday, the liquid staking firm Alluvial revealed a consortium of organizations will collaborate on the “first enterprise-grade multi-chain liquid staking protocol.” Alluvial’s announcement detailed the protocol will be known as the “Liquid Collective” and the cryptocurrency exchange Kraken has joined as a foundation member. Liquid Collective Aims to Bolster a Multi-Chain Liquid Staking Standard In a blog post published by the liquid staking company Alluvial, the startup introduced the new enterprise-grade multi-chain liquid staking protocol called the “Liquid Collective.” The Liquid Collective also has a Liquid Foundation, which includes participants such as Kraken, Coinbase Cloud, Staked, Kiln, Figment, and Alluvial. “[The] Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants,” Alluvial’s announcement on Tuesday notes. Liquid staking has been a prominent trend in the world of decentralized finance (defi). Lido Finance is the largest liquid staking provider today, and the wrapped ethereum token Lido offers is called lido staked ether (STETH). At the end of August, Coinbase announced the launch of its own liquid staking token called CBETH. The Liquid Collective’s enterprise-grade token will be called LSETH and KYC/AML will be standardized into the protocol. “Liquid Collective, a multi-chain liquid staking standard, seeks to address the need for the highest guarantees of security and KYC/AML checks for institutions, Web3 native enterprises, and other regulated entities to meet regulatory obligations and best practices while unlocking new liquidity and increased capital efficiency on leading proof of stake blockchains,” Alluvial’s blog post details. The Liquid Collective brand and protocol will be impactful according to the CMO of Alluvial, Mark Forscher. “Liquid Collective’s brand symbol is a group of liquid droplets repeated in a circle. A graphical representation of ‘one from many,’ the resulting shape is harmonious and balanced with a star formed in the middle, symbolizing the formation of Liquid Collective and our intended impact. The sum is greater than its parts,” Forscher remarked on Tuesday. What do you think about Alluvial’s announcement introducing the Liquid Collective and Liquid Foundation members? Let us know your thoughts on this subject in the comments section below. View the full article

Bitcoin fell below $19,000 on Wednesday, as markets prepared for a potential 100 basis point interest rate hike from the United States central bank. Although the consensus for a rate increase remains at 0.75%, some believe that with inflation remaining at historically high levels, a 1.00% hike could be on the cards. Ethereum remained lower on the news, trading marginally above $1,300. Bitcoin Bitcoin (BTC) fell below $19,000 earlier in the day, as traders began to prepare for today’s Federal Open Market Committee (FOMC) meeting. Market uncertainty remains rife as speculation grows on whether the Fed could go as far as raising rates by 100 basis points. As a result, BTC/USD fell to a low of $18,813.46 earlier today, a day after hitting a peak above the $19,600 level. Looking at the chart, this most recent drop has pushed the 10-day (red) moving average on the brink of a downwards cross with its 25-day (blue) counterpart. Should this happen, we could see bitcoin not only slip below $19,000, but potentially drop under $18,000 for the first time since June. As of writing, the token is trading at $19,153.66, as prices continue to consolidate prior to this afternoon’s announcement. Ethereum Ethereum (ETH) was also consolidating on hump day, with the token trading marginally above the $1,300 level. Following a high of $1,378.68 on Tuesday, ETH/USD moved to an intraday low of $1,319.20 earlier today, as sentiment in crypto markets remained bearish. Traders have been tentative in recent days, opting to liquidate positions as opposed to holding onto longs ahead of the rate hike. The rise in uncertainty also came following a collision on the 14-day relative strength index (RSI), with the index hitting a resistance point. As of writing, the index is tracking at 38.43, which is marginally below a ceiling of 39.00, currently the main obstacle preventing prices from climbing. Although there remains a high level of fear in the marketplace, should we see a breakout of the aforementioned ceiling, ETH bulls may reenter the market, and attempt to take price above $1,400. Register your email here to get weekly price analysis updates sent to your inbox: Will the Federal Reserve decide to hike rates by 0.75% or 1.00% today? Leave your thoughts in the comments below. View the full article

The largest non-fungible token (NFT) marketplace by sales volume, Opensea, has announced a new “immersive and secure minting experience” by giving NFT creators the ability to showcase “collections with dedicated drop pages and greater discoverability” on Opensea’s new homepage. Moreover, the company also announced on Tuesday that the NFT marketplace will soon support the layer two (L2) protocol Arbitrum. Opensea Announces NFT Drop Improvements and Arbirtum L2 Support Opensea has made a number of changes and it just recently revamped the NFT market’s homepage. The NFT marketplace is the largest NFT platform by sales volume as statistics show Opensea has settled $32.34 billion in all-time sales. On September 19, the company announced the marketplace is adding new features that aim to offer an “easier, safer and more immersive” new drop experience. Essentially, Opensea has added three features which include: Creators will soon be able to launch their collections with dedicated drop pages and greater discoverability on the (new) Opensea homepage. Collectors will now be able to mint directly from an Opensea page. Drops on Opensea will have access to Seadrop, a new, secure open source contract that powers the drops experience so that creators don’t need to create custom smart contracts. Furthermore, Opensea has also revealed the NFT marketplace will support Arbitrum, the Ethereum-compatible layer two (L2) blockchain network. “We’re excited to share that Opensea will soon support Arbitrum,” Opensea said on Tuesday. “This is a first step in building our goal of a web3 future where people have access to the NFTs they want on the chains they prefer,” the company added. The plan is to launch Opensea’s Arbitrum support on September 21, and following the launch “creators will need to find their collections in Opensea and set their creator fees directly,” Opensea explained. Opensea has been opening up to new blockchains as the marketplace has already integrated with Polygon and Solana. Just recently, the NFT marketplace competitor Rarible announced integration with Immutable X, another L2 scaling effort that’s compatible with Ethereum. Opensea’s latest additions follow the migration over to Seaport, an open-source Web3 marketplace protocol. What do you think about Opensea’s new features and the marketplace adding Arbitrum support on September 21? Let us know what you think about this subject in the comments section below. View the full article

Africa-focused crypto exchange Yellow Card recently revealed it has closed its $40 million Series B funding round. The exchange’s announcement of its latest capital raise comes just over a year after it raised $15 million from its Series A round. Funds to Be Used for Development of New Products Yellow Card, an Africa-focused cryptocurrency exchange, recently disclosed it had closed its $40 million Series B funding round. The crypto exchange said it will use the funds raised to finance the development of new products as well as to “advance strategic partnerships across Africa.” According to a press statement, the exchange platform’s latest funding round was led by Polychain Capital with the participation of Valar Ventures, Third Prime Ventures, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, Jon Weiner, Alex Wilson, and Pat Duffy. As reported by Bitcoin.com news in September last year, Yellow Card had raised $15 million in its Series A funding round. This round was led by Valar Ventures with the participation of Third Prime, Castle Island Ventures, Square, Coinbase Ventures, and Blockchain.com Ventures. Africa’s Appetite for Crypto Meanwhile, in remarks accompanying the statement, Chris Maurice, the chief executive officer and co-founder of Yellow Card, said: For the past three years, our team has worked tirelessly to make this technology accessible to anyone and create a world-class product. This fundraise in this market not only showcases the resilience of our team but also reiterates the appetite and necessity for cryptocurrency in Africa. For his part, Will Wolf, a partner at Polychain Capital, praised the Yellow Card team for the way it adjusts and adapts “to the unique opportunities and demands of the various African markets.” According to the crypto exchange platform, since the last capital raise Yellow Card launched operations in four more African countries: Gabon, Senegal, Rwanda, and the Democratic Republic of the Congo. This brings the number of African countries where Yellow Card has operations to 16. 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

China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this year. Government to Increase Digital Yuan Coverage in 4 Provinces of China Chinese authorities are going to expand the digital yuan’s area of application in four of the first pilot cities in the project to the rest of their respective provinces. These are Shenzhen in South China’s Guangdong Province, Suzhou in the eastern Jiangsu Province, Xiongan New Area in Hebei Province in the north, and Chengdu in Southwest China’s Sichuan Province. With the upgrade to province-wide testing in these regions, the government in Beijing hopes to “continue to push the innovation of China’s recognized cryptocurrency,” the English-language newspaper Global Times wrote, quoting a report by the Cnstock.com business news portal published on Monday. The plan was announced by Deputy Governor of People’s Bank of China (PBOC) Fan Yifei during an economic forum this week. The high-ranking official emphasized that the monetary policy regulator has been accelerating financial digitalization since the beginning of this year. He noted that the authority has outlined the country’s financial technology development for the period until 2025. Fan also underscored the importance of securing key technologies in order to enhance China’s financial system and build financial infrastructure that can adapt to the development of the digital economy and support the transformation of the Chinese economy. The PBOC executive pointed out that the digital yuan has been implemented across multiple economic sectors, including retail and wholesale, catering, leisure, tourism, and government payments, via both online and offline channels. He insisted that the utility of the digital yuan in the first four trial cities should be expanded to the provincial level. Fan Yifei’s latest statements come after earlier this month the deputy governor urged for widening of the array of use-case scenarios for China’s central bank digital currency (CBDC). He also called for improving the integration between the digital yuan system and traditional tools for electronic payments to increase convenience for users of the e-CNY platform. Do you expect China to further expand the test area for the digital yuan this year? Tell us in the comments section below. View the full article

A crypto company working with the central bank of Norway has published the source code for the sandbox created to trial the digital version of the Nordic nation’s fiat currency. The prototype digital krone is being built on the Ethereum network and the regulator wants to test various technologies and evaluate the potential impact on financial stability. Norges Bank, Nahmii Fintech Provide Access to Source Code for CBDC Sandbox Developed for Norway Norway’s monetary authority, Norges Bank, and the Norwegian company Nahmii AS have made public the source code for the sandbox for the Scandinavian country’s central bank digital currency (CBDC). The two are working together on the prototype of the state-issued coin. The code is now available on Github, offered under an open-source Apache 2.0 license, Nahmii recently announced in a blog post on its website. The fintech’s main task is to create a sandbox environment with open-sourced services for the digital krone. “This allows for the testing of basic token management use cases, including minting, burning and transferring ERC-20 tokens,” explained the firm, which is a developer of a Layer-2 scaling solution for the Ethereum blockchain. The sandbox features a frontend, which has been designed to offer an interface for interacting with the test network, and network monitoring tools. It will facilitate the deployment of smart contracts and provide access controls, Nahmii detailed. The company intends to add complex use cases in the future, including batch payments, security tokens and bridges, while further developing the custom frontend of the sandbox. It plans to deliver the second part of the project to Norges Bank by mid-September. The central bank of Norway is among dozens of monetary policy regulators currently working to develop and issue their own digital currencies. The trials are meant to establish whether its CBDC will be safe and efficient for the public without negatively affecting the stability of the Norwegian krone and the nation’s financial system. When it announced it is conducting experimental testing to determine if a digital currency should be issued, the authority acknowledged the role of cash as an alternative to bank account money. At the same time, the bank pointed out that the use of cash is declining and warned this could undermine its functions. Do you expect Norway to eventually issue a central bank digital currency? Tell us in the comments section below. View the full article