Uniswap's chief growth officer says Paypal is interested in the DeFi protocol, while oil company Wesco Operating is mining bitcoin with natural gas. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Bitcoin and Blockchain Adoption
📍Paypal could be considering the potential of DeFi through Uniswap. According to the growth director of Uniswap Labs, Ashleigh Schap, Paypal and other payment services companies are showing interest in the Uniswap protocol and may want to integrate decentralized finance (DeFi) alongside electronic payments and cryptocurrencies, .
shelf I speak about Paypal's interest in DeFi during the conference Ethereum from Paris, and although the recording was removed from YouTube at the request of Uniswap founder Hayden Adams, CoinDesk indicated that the video is still available on the interplanetary file system IPFS. Adams asked that the video be removed because Schap's statements could be misinterpreted, indicating that the protocol has not yet partnered with any of these companies.
📍Dogecoin (DOGE) takes over Burger King in Brazil. The fast food chain is launching a new pet product in Brazil called dogpper. As reported by the Burger King franchise in the Latin country, customers will be able to buy Dogpper in establishments with DOGE, the native token of Dogecoin. The product is a type of canine cookie flavored with the franchise's star product, the hamburger. whooper.
Burger King wants to attract the attention of dog owners with the launch of this product and enter the world of cryptocurrency payments.
CBDC and Central Banks
📍The Bank of Estonia, the Eesti Pank, is impressed by the scalability potential that blockchain offers for a digital currency. According to one publication recent development by the bank, the creation of a digital euro based on blockchain would be a novel solution to process payments quickly, simultaneously and unlimitedly in real time, which at the same time guarantees a smaller carbon footprint compared to traditional payments and the use of plastic cards.
Miners
📍Mining company BIT Mining will install 2.500 new bitcoin mining equipment from Kazakhstan. Bit Mining reported that the new bitcoin miners will be delivered next week and that their integration will increase their mining power in the network to a total of 165 PH/s (petahashes per second).
📍Genesis Digital Assets raised more than $100 million to fund its expansion in the United States and the Nordic countries. The company shared a release reporting that the funding round led by Kingsway Capital closed with $125 million in funding that will fund the expansion of its industrial-scale Bitcoin mining operations in the United States and the Nordic region, comprised of Denmark, Finland, Iceland, Norway and Sweden.
📍Bitcoin Stronghold Digital Mining wants to go on the Nasdaq. According to one presentation filing with the United States Securities and Exchange Commission (SEC), Bitcoin cryptocurrency mining company Stronghold Digital Mining is seeking to have its Class A common stock listed on the Nasdaq. The public offer presented by the company before the SEC amounts to 100 million dollars.
Development and Technology
📍Oil company Wesco Operating Co. is using natural gas to mine bitcoins. The company reported told The Salt Lake Tribune that wasted gas from oil drilling at its 18 wells in Utah is now being used to mine the industry's most famous cryptocurrency, the Bitcoin. Wesco Operating explained that they were having trouble shipping the natural gas extracted from the wells off-site, so they decided to use it to power electrical generators that support bitcoin mining, rather than just burning it and wasting it.
The miners operated by Wesco Operating were acquired in an alliance with EZ Blockchain, the company reported.
📍Ripple expands its services in Asia through Japan's SBI Remit and Philippines' Coins.ph. The company reported that SBI Remit and Coins.ph are using Ripple's On-Demand Liquidity (ODL) service to access liquidity on demand and optimize the sending of remittances between the two countries. In the publicationRipple notes that more than 5 million of its Filipino citizens are living abroad, making the remittance market in this region one of the largest in the world, moving nearly $1.800 billion each year.
Rules and Regulations
📍US representatives presented a bipartisan bill to improve tax collection from cryptocurrency investors. The document was shared with CoinDesk, which reported that the proposal wants to raise $28.000 billion from cryptocurrency and digital asset investors. The bill includes new reporting requirements applicable to cryptocurrency exchange platforms and other companies in the industry, to improve tax collection in the country.
📍Mexico's Financial Intelligence Unit (UIF) warns about cryptocurrency exchanges operating in the country without authorization. The director of the UIF, Santiago Nieto Castillo, reported on 12 unregistered cryptocurrency exchange platforms in Mexico that are violating its anti-money laundering laws. By not being registered, the platforms are operating illegally without complying with existing regulations.
Mexico's Fintech Law requires financial services platforms to collect data and identifying information from their customers; In addition, they must report transactions and financial movements that exceed 57.804 Mexican pesos, approximately 2.900 US dollars, reported The Economist from Mexico. At the moment, the FIU did not mention the names of the exchanges that operate illegally in the country.
📍Huobi shares fall after announcing its closure in China. Cryptocurrency mining company Huobi reported that it is dissolving its Beijing Huobi Tianxia Network Technology Co. entity as it is deemed unnecessary due to China's new restrictions on cryptocurrencies. The news caused a 20% drop in the value of the actions from Huobi, which is listed on the Hong Kong stock exchange.
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