Come every Saturday, Hodler’s Digest Will help you keep track of every important news report that happened this week. The best (and worst) quotes, adoption and regulatory highlights, leading tokens, predictions, etc.-Cointelegraph for the week on a link.
Headlines this week
Central bank digital currency, or CBDC, some people own describe As a descendant of Satan, he has made headlines this week after intensifying efforts to develop his own digital currency in many countries.
On August 30, it was reported that the Central Bank of Nigeria (CBN) Issue preliminary guidelines The electronic naira digital currency proposed for it. The next day, news broke that Bitt Inc., a financial technology company headquartered in Barbados, signed a contract to become CBN’s technology partner to launch e-naira.
Singapore also hopes to participate. The Monetary Authority of Singapore has included 15 participants in the “Global CBDC Challenge” on the shortlist to help Build an internal Retail CBDC.
There were also reports on September 2 that the central banks of Australia, Singapore, Malaysia and South Africa announced Joint initiative Known as the “Dunbar Project” to use CBDC to experiment with international settlements.
Obviously, the older generation of El Salvador lost the concept of peer-to-peer decentralized currency because local retirees and veterans took to the streets to protest the adoption of BTC as legal tender.
According to reports, people opposed to Bitcoin marched in the capital to express their concern that the asset will be used to pay pensions, and that the instability of the price of BTC is a cause for concern.
An El Salvadoran news outlet also reported that cryptocurrency expert Mario Gómez (Mario Gómez) Arrested by the local police Without a search warrant, law enforcement officers confiscated his mobile phone and tried to take his computer. Gomez often publicly opposed the use of BTC as a currency. However, the police issued a statement stating that the arrest was part of a financial fraud investigation.
The Legislative Assembly of El Salvador also passed legislation $150 million bitcoin trust This week, support the development of encryption infrastructure and services across the country.
CryptoPunks creators signed with leading Hollywood agents, and sales exceeded $305 million in one week
Larva Labs, the team behind CryptoPunks, the popular pixelated avatar NFT project, signed an agreement with the Hollywood agent of United Talent Agency (also known as UTA).
The Hollywood Reporter broke the news on August 31 that the transaction will allow UTA to represent Larva Labs’ CryptoPunks, Meebits, and Autoglyphs in intellectual property transactions for television, film, video games, licensing, and publishing.
The Larva Labs team has proven that they are by no means punk. Since its launch in 2017, their OG NFT project has generated total sales of up to $1.21 billion.
According to the leaked screenshots, Twitter allows users to add BTC and ETH addresses to their profile
Twitter, a social media platform led by Bitcoin (Bitcoin) According to reports, maxi Jack Dorsey is considering adding Bitcoin and Ether (Ethereum) The tip function for content creators on the platform.
According to the leaked screenshots posted via Twitter on September 3, the latest update is believed to be part of Twitter’s “Tip Jar” feature, and it was added in a report earlier this week that the company will enable Bitcoin tipping Content creator.
Although these reports are unofficial at this stage, the head of Twitter product Kayvon Beykpour hinted that when he reposted a post about the BTC tipping feature on September 1, an announcement might be made soon, with lights. And the “soon” arrow emoji.
Changpeng Zhao, CEO and founder of Binance, stated that Binance.US, Binance’s US cryptocurrency exchange partner, aims to conduct an initial public offering or IPO in 2024.
Binance has been working hard to comply with global regulators after the company’s scrutiny has become more stringent in recent months. According to reports, Binance.US will complete an important round of private financing in the next two months, which will enable the company to operate more independently of global exchanges.
Zhao said in an interview on September 1 that he is confident that global cryptocurrency exchanges can withstand regulatory shocks and explained that the US branch will move towards an IPO in the next three years.
“Binance.US will only do what Coinbase does,” Zhao said.
Winners and losers
This weekend, Bitcoin is located at USD 50,556, Ether 3,973 USD And XRP in 1.30 USD. Total market capitalization 2.29 trillion US dollars, according to To CoinMarketCap.
Among the 100 largest cryptocurrencies, the top three altcoin beneficiaries this week are Revain (change) At 121.20%, Fantom (FTM) 93.20% and Solana (SOL) 69.11%.
The top three altcoin losers this week are PancakeSwap (cake) -7.57%, Clayton (Clay) -5.90% and Quant (QNT) -4.48%.
For more information on encryption prices, be sure to read Cointelegraph’s market analysis.
The most memorable quotes
“Cryptocurrencies, no matter where they are traded today, will eventually prove worthless. Once the boom subsides or liquidity dries up, they will return to zero. I don’t recommend anyone invest in cryptocurrencies.”
John Paulson, Billionaire portfolio manager
“People will notice that the crypto trading volume of derivatives is larger than the spot trading volume. This is true. But this is true for every asset class in the world.”
Sam Bankman-Fried, FTX CEO
“Cryptocurrency is a store of value. It is a medium of exchange, but it is not universally accepted. Only those who participate can accept it.”
Lesetja Kganyago, Governor of South Africa Reserve Bank
“I like American currency. I think others may be a disaster waiting to happen. […] them [cryptocurrencies] It may be fake. Who knows what they are? They are of course things that people don’t know much about. “
Donald Trump, Former President of the United States
“I think the changes we are going through now may be as big as the Internet in the 1990s.”
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission
“Cryptocurrency will play a bigger role in Afghanistan […] In the war in support and opposition to the Taliban forces. “
Charles Hoskinson, The founder of Cardano
“Unauthorized miners are the main culprit in power outages in recent months. If miners stop their activities, our outages will be reduced by 80%.”
Rajabi Mashhadi, Spokesperson Iranian Electric Power Company Tavanir
“We may have $65 to $700 million worth of Bitcoin in our current product portfolio.”
Anthony Scaramucci, Founder and CEO of Tianqiao Capital
Forecast this week
“Extraordinary” on-chain indicators may mean the return of Bitcoin and Ethereum bull market-new report
Both Bitcoin and Ethereum run on their own public blockchains, which means that people can analyze BTC and ETH activity on these networks. On-chain analysis involves trying to understand blockchain activity and draw possible conclusions or results.
The blockchain intelligence company Glassnode released a report last week that explored the blockchain activities of Bitcoin and Ethereum. The report pointed out a comparison between current activity and activity in the second half of 2020 (which ultimately led to a significant increase in the prices of both assets).
“It is worth noting that the current activities on the two chains are similar to the stable pre-bull market accumulation range established in mid-to-late 2020,” the report details.
The report also pointed out that the blockchain activity of ETH and BTC is low compared to when BTC and ETH prices peaked in early 2021. However, the prices and “supply dynamics” of these two assets are both bullish, in contrast to reduced on-chain activity-basically meaning that there may be further bullishness in the future.
FUD this week
The 23-year-old Venezuelan allegedly stole $1 million in BTC from a customer after a fake kidnapping
According to local authorities, a 23-year-old Venezuelan stole 23.66 BTC from investors, worth about 1.15 million U.S. dollars, and then faked his kidnapping in an attempt to escape.
It is believed that the suspect Andrés Jesús Dos Santos Hernández pretended to be a financial adviser before soliciting BTC from several unfortunate investors.
On August 29, the head of the Venezuelan Scientific, Criminal and Criminal Investigation Team, Douglas Rico, issued a statement stating that Hernandez probably planned the kidnapping because his client’s Binance account had disappeared since he alleged Since then, there has been a clear lack of assets.
The initiator of BitConnect pleaded guilty to the Ponzi scheme because the platform faces new SEC charges
After the U.S. Securities and Exchange Commission (SEC) filed charges against the platform, the cryptocurrency meme’s most popular and notorious Ponzi scheme, BitConnect, made headlines this week, and former director and promoter Glenn Arcaro (Glenn Arcaro) ) Pleaded guilty to separate charges of participating in the company.
The Ministry of Justice announced on September 1 that Akaro had pleaded guilty to charges of conspiring to commit wire fraud. Arcaro admitted to making approximately $24 million from his fraudulent activities, including misleading investors about the profit potential of BitConnect’s “trading bots” and “volatility software”. He has been ordered to repay the investor in full.
In this long-legged parallel operation, the US Securities and Exchange Commission accused BitConnect, its founder Satish Kumbhani, former director Arcaro and Future Money Ltd. of fraudulent, unregistered securities issuance between 2017 and 2018, with net proceeds 2 billion U.S. dollars.
This week reports from Russia surfaced that a 34-year-old man from Yaroslavl was convicted of stealing encrypted mining equipment from a friend’s garage. He also admitted in court that he could not make a profit from mining equipment because he did not know how to use it.
Local authorities found the Russian man guilty of mass theft of property and illegal entry into the country. The court sentenced him to three years of probation and three years of probation.
Although the value of most friendships is priceless, it seems that this large-scale crypto criminal is happy to break bonds for mining equipment worth about 1.6 million Russian rubles (nearly 22,000 US dollars).
Best Cointelegraph features
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What the United States needs is tens of billions of dollars, and the country will take it from the American crypto community.