Breaking‌ ‌News‌ ‌-‌ The city of Austin will explore cryptocurrencies and Web3 for its inhabitants

Austin, Texas, Mayor Steve Adler has introduced a bill to explore cryptocurrencies and Web3 in the city to improve its government processes and better serve its residents. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.

Bitcoin and Blockchain Adoption

📍‌The city of Austin, Texas, has introduced a bill to explore cryptocurrencies and Web3. Austin, located in Texas (United States), introduced a bill to explore the use of new technologies to improve its government processes and better serve its citizens and residents. project, published on the city's official website, indicates that Austin wants to be a place where new technologies, such as cryptocurrencies, blockchain and Web3, can develop in a responsible and healthy way, allowing the creation of innovative applications of great utility and value. 

The City of Austin wants to embrace cryptocurrencies and blockchain to improve services and create new solutions for the benefit of people, as well as generate new revenue streams and promote financial investment. In its proposal, Austin presents the possibility of integrating cryptocurrency payments. 

📍‌Elon Musk confirms he will continue to hold cryptocurrencies. Controversial entrepreneur Tesla owner Elon Musk said on Twitter that he will continue to hold the cryptocurrencies he currently owns, Bitcoin (BTC), Ethereum (ETH) y Dogecoins (DOGE)Musk's comments came in response to Michael Saylor, president of MicroStrategy, who commented that current inflation levels will continue to grow in the coming years, causing fiat currencies to collapse and a massive flight of capital into scarce and more desirable assets like Bitcoin. 

In response, Musk indicated “I still have and will not sell my Bitcoin, Ethereum or Doge”.

📍‌The armed conflict between Russia and Ukraine could delay El Salvador's Bitcoin Bonus. An official from El Salvador told The Block that the country could launch its Bitcoin Bond as early as this week, between March 15 and 20. However, he also noted that the current armed conflict between Russia and Ukraine could affect plans and delay the launch.  

NFT and DeFi Markets

📍‌Pixar NFT collection sells out in one day, with $3,3 million in sales. Disney subsidiary Pixar animation studio launched a collection of NFT with several of the most iconic characters from its animated films, such as “Toy Story,” “Monsters, Inc.,” “Cars,” “The Incredibles,” “Ratatouille,” “WALL•E,” “Up,” “Brave,” “Inside Out,” “Coco” and “Soul.” The crypto collection It sold out in less than 24 hours, raising a total of $3,3 million.

Miners

📍‌Argo Blockchain and Core Scientific have signed a cryptomining exchange agreement. Cryptocurrency mining companies are exchanging some of their mining equipment, as detailed in a agreement recently signed. As explained, Argo Blockchain will exchange its Bitcoin mining fleet, Bitmain Antminer S19, housed at Core Scientific's facilities for Bitcoin miners, model S19J Pro, previously ordered by Core Scientific to be delivered directly to Argo Blockchain at its new facilities. 

📍‌Litecoin's hash rate has increased by 17% in the last two weeks. According to data from the OkLink platform, the hash rate or computing power of Litecoin has set a new 2-year high, surpassing 445,3 TH/s of power currently. So far this month, the network’s hash rate has increased by close to 17%. 

Development and Technology

📍‌Animoca Brands and Pantera Capital invest in blockchain game developer Metaverse Game Studios. Software company Animoca Brands and hedge fund manager Pantera Capital led the recent $10 million funding round of Metaverse Game Studios, the developer of blockchain game Angelic. Solana Ventures, Everyrealm, Huobi Ventures, Rainmaker, and others also participated in the funding round. 

In a release Recently published, Metaverse Game Studios reported that it will use the funds to continue building Angelic as a massively multiplayer metaverse that will allow it to close the current gap that exists between blockchain games and AAA titles, as digital games developed by prestigious companies in the field are known. 

📍‌Solana's NFT marketplace Magic Eden raises $27 million. Cryptocurrency investment firm Paradigm led Magic Eden’s Series A funding round, raising $27 million to boost its presence in the blockchain gaming sector. Other major industry investors including Sequoia Capital, Solana Ventures, Greylock Partners, and Electric Capital also participated in the NFT marketplace’s funding round. 

This Monday, the market announced the launch of its gaming ecosystem Eden Games, a platform dedicated to the development of content and NFTs for the gaming community. 

Cybersecurity

📍‌Wasabi Wallet will introduce a new update to censor illicit transactions. The news that privacy-focused Bitcoin wallet Wasabi Wallet will be blocking certain transactions has not been well received by the crypto community on Twitter. The developers of the digital wallet reported that in their next update they will introduce a filter to start rejecting certain transactions, possibly those linked to crimes and illegal activities. The measure is believed to be in response to regulatory pressure from states. zkSNACKs, the developer of Wasabi Wallet, is located in Gibraltar and must comply with the regulations applicable in the country.

Ironically, the measure that zkSNACKs is taking goes against one of the principles it has defended until now: the fungibility of Bitcoin. On its website, the company states that it is working to improve “Bitcoin’s fungibility and providing different products that guarantee privacy”However, by blocking certain transactions from your wallet, zkSNACKs will be marking some BTC coins as illicit, preventing their use, exchange or spending by honest users. 

Continue reading: Institutional activity in Bitcoin continues to grow and exceeds 90% of the current total volume