CryptoPunk NFTs smash records as VISA purchases a CryptoPunk for US$150K
CryptoPunks sales volume increased by over 1,100% in the last 24 hours
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Why institutional investors cannot afford to ignore DeFi
Much of traditional finance still believes DeFi is too risky and not worth the bother, writes Ilia Maksimenka of PlasmaFinance. Are these perceptions accurate?
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Bitcoin miners may soon face tougher digging
As the crypto hashrate continues to recover, miners will likely have to work harder for their coins.
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Futures exchange pays e-CNY for warehousing fees
Dalian Commodity Exchange paid storage fees to a delivery warehouse in the form of e-CNY, the first time applying central bank digital currency (CBDC) in futures trading. Fast facts According to the report, Dalian Liangyun Group, which received the e-CNY warehousing fees, said that e-CNY transfer has no inter-bank transfer fees, and it would not…
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Iran expected to lift Bitcoin mining ban next month
Iran, which imposed a temporary ban on Bitcoin mining a few months ago, is expected to lift the prohibition next month, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company told the state-run ISNA that the ban will be lifted on Sept. 22, local English media Financial Tribune reported.…
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Philippines wants to tax Axie Infinity and players’ earnings
With play-to-earn crypto games like Axie Infinity continuing to attract users, tax authorities in the Philippines are looking into taxing such blockchain-based game companies as well as the income earned by users on such platforms, according to a report by the Manila Bulletin. Fast facts Philippines’ finance undersecretary Antonette C. Tionko said earnings from these…
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USDC to be 100% backed by cash, US Treasuries
Circle, issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s US$22.2 billion supply was backed by only 61% “cash and cash equivalents.” Fast facts Circle had indicated earlier in the month that it wishes to…
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El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption
In preparation for El Salvador adopting Bitcoin as legal tender, the nation is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to exchange crypto for fiat easily, President Nayib Bukele has announced over the weekend via Twitter. Fast facts With El Salvador’s Bitcoin adoption bill coming into effect…
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Solana sees investment inflows of $7M, largest of any digital asset: CoinShares
After six consecutive weeks of outflows, institutional sentiment for digital assets is turning, with net inflows of US$21 million last week, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total assets under management (AUM) across all digital asset fund providers rose to US$57.3 billion, the highest since mid-May, driven by the recent…
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Shaanxi Expressway accepts digital yuan as tolls
Shaanxi Province has built the province’s first toll lane that supports digital yuan payments; the first payment was successfully made on August 16. Fast facts Shaanxi Province says it will continue to install digital renminbi payment equipment at all expressway toll stations in the province. Shaanxi Province is located in the western inland region of China, and…