“Mr. Burns” from the animated series The Simpsons asks about Bitcoin on Twitter, while crypto remittances in El Salvador skyrocket. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍The actor who plays Mr. Burns in the animated series The Simpsons is interested in learning about Bitcoin (BTC). Through Twitter, actor Gabriel Chávez, who plays the character, asked journalist Eloisa Cadenas to explain to him what Bitcoin is.
The popularity of cryptocurrency has sparked the interest of “the billionaire owner of the Springfield Nuclear Power Plant and boss of Homer Simpson.”
📍Reuters news agency reports that bitcoin remittances in El Salvador grew four times in May compared to the figures from the previous year. The data were provided by a researcher from the firm ChainalysisAccording to them, by May 2020, remittances in bitcoin barely exceeded $420.000, while in May of this year they exceeded $1,7 million. The growth in remittances in bitcoin occurs after the country declared Bitcoin its legal tender.
📍AJ Bell, a UK investment company, says Britons have been more interested in cryptocurrencies, than in actions. According to survey data, 7% of UK adults have invested in cryptocurrencies in the past year, while those who have bought stocks account for only 5%. In addition to this, AJ Bell notes that over 70% of those who invested in crypto assets have made a profit.
📍Jack Dorsey, CEO of Twitter and Square, is supporting the initiatives of a group of companies that want to adopt Bitcoin in Ethiopia. On his Twitter account, Dorsey shared a message from the Hand Project, which has been lobbying the Ethiopian government for months to consider the adoption of cryptocurrencies in the country. Specifically, the project seeks to have Ethiopia accept legal bitcoin mining and custody. Project Mano sees BTC as the solution to inequality and global inflation.
NFT and DeFi Markets
📍Peter Thiel and Alan Howard participate in the funding round of a new DAO called BitDAO. Billionaire fund managers are increasingly interested in the development and expansion of decentralized finance ecosystems. The funding round closed with a total of $230 million. Twitter, the Decentralized Autonomous Organization (DAO) explains that its objective is to promote the development of ecosystems DeFi, which is why it will allocate the funds from the investment round to provide liquidity, finance new protocols and hire human talent.
CBDC and Central Banks
📍Morgan Stanley believes that the issuance of a digital euro could absorb up to 8% of bank deposits in the Eurozone. According to report, one of the biggest implications of a digital euro could be the absorption of a significant part of current bank deposits, a scenario that would greatly affect smaller banks in the eurozone. The issuance of a CBDC For the euro, this could take several years to become a reality. However, analysts are already studying the pros and cons that a CBDC digital currency could bring to the region.
Miners
📍Genesis Digital Assets will receive 10.000 Bitcoin mining rigs from manufacturer Canaan by the end of the month. According to reported The company, this is an additional purchase order placed to expand the operations of the bitcoin mining data center. Genesis Digital Assets is a leading company in industrial-scale bitcoin mining with an operating capacity of over 140 MW and 2,1 EH/s of mining power on the Bitcoin network.
Development and Technology
📍Cryptocurrency management company Bitwise Asset Management closes a $70 million investment round. In the patrol Several Wall Street and Silicon Valley heavyweights including Stanley Druckenmiller, David McCormick, Kevin Warsh and Daniel Sundheim participated. In total, more than 30 of the brightest minds in the financial system and cryptocurrencies around the world participated in the Series B funding round, CNBC reported.
Rules and Regulations
📍Panamanian lawmaker Gabriel Silva revealed that he will present a new bill focused on promoting cryptocurrencies in the country next month. Silva had said on Twitter that the adoption of Bitcoin by El Salvador was a very important event in the world and that Panama could not be left behind in this development. Now, Silva said that he will promote and boost cryptocurrencies in Panama through a new bill, which seeks to encourage investment and the development of technology and entrepreneurship.
The Panamanian deputy said that the adoption of bitcoin was something positive, ambitious and interesting, so he will adopt El Salvador's position to create a "positive competition." Silva also reported that the interested community can contribute their ideas and participate in the construction of the new crypto bill.
📍In India, the government is considering its options to regulate or ban the crypto market. Over the past few months, India has seen several major moves regarding cryptocurrencies, moving from banning them to accepting their trading. Now, a government official says that they are looking into which crypto-asset activities should be regulated or banned in the country. India is currently studying a cryptocurrency bill that would ban their use. The official Indian Bloomberg said that they have not yet made a decision, but that they are debating the possibility of banning them completely, or establishing regulations that allow their use and controlled trade, or allowing only a certain type of supervised activities with these digital assets.
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