Inflation Might Bring New Crypto Users, Tethered Peso, the Price of Zuckerberg’s Meta Ambitions + More News

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Get your daily summary of news related to cryptocurrencies and blockchains by researching the stories that pass under the radar of today’s cryptographic news.


Adoption news

  • Verena Ross, president of the European Markets and Securities AuthorityHe said that rising inflation could lead retail investors to risky cryptocurrencies, for example Bloomberg. “With rising inflation, investors will look for investments that are able to try to offset inflation and get higher returns, which can lead to greater risk-taking. That is something we are following very closely,” he said.
  • KuCoin said that according to the results of its survey, 27% of respondents in the US. UU. have invested in cryptocurrencies, based on a total sample of 1,026 US adult internet users between the ages of 18 and 60 who are self-identifying cryptocurrency investors surveyed between October 2021 and March 2022. 53% of respondents Stated that it has doubled its money invested in crypto in the first quarter of 2022, while the proportion of people aged 41 to 50 has increased by 7% over the last quarter.

Stablecoin News

  • Tether, the company behind Tether stablecoin (USDT), has launched Tether stablecoins MXNT linked to the Mexican peso. Initial blockchain support will include Ethereum, Tron (TRX) and Polygon (MATIC).
  • Financial company Circlethe USDC stable currency issuer (USDC) has stated that the USDC and other private sector innovations are already achieving what a central bank digital currency (CBDC) would expect to offer, in response to the Federal Reservediscussion paper on the potential impact of a U.S. CBDC. He added that CBDCs could aggravate existing problems with financial inclusion and destabilize the banking system. They also stated that the U.S. government is not well placed to develop and maintain the technology needed to successfully administer a CBDC.

Investment news

  • Mark Zuckerberg said at the annual shareholders’ meeting for Meta that you plan to invest heavily in your company’s metaverse ambitions, and that would mean losing “significant” amounts of money in the project over the next three to five years. However, the metaverse will end up making money with a creative economy, as people build businesses that sell virtual goods and services, he said.
  • Elon Musk abandons plans to partially fund his social media purchase Twitter with a margin loan tied to your electric car business Tesla and increase the size of the capital component of the deal to $ 33.5 billion, according to a U.S. filing. Stock and Securities Commission (SEC). Musk will provide an additional $ 6.25 billion in equity financing for the purchase of $ 44 billion to eliminate a margin loan of the same size.
  • Game developer Congregate and Ethereum (ETH) layer solution 2 X immutable announced a $ 40 million fund that will be awarded as grants for blockchain game integrations on the platform. The platform itself will be relaunched later this year, they added.
  • A group of former Binance executives has created a $ 100 million venture fund called Old Fashion Research (OFR), by TechCrunch. The fund will focus on metaverse and bring greater adoption of cryptography to emerging markets such as Latin America and Africa, they added.

Exchange news

  • BitMEX have announced that they are launching the ETH margin and the settlement of perpetual contracts and futures on their platform. This option is now available on your test network, with the main network that will follow in “a few days”.
  • Binance announced the signing of a memorandum of understanding with the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, expressing mutual interest in the development of the virtual asset market in the country. The move will allow Binance to help advise on the development of the legislative framework and regulatory policy for cryptocurrencies in Kazakhstan, they added.
  • Binance Bahrain received a Category 4 license as a cryptocurrency service provider Central Bank of Bahrainwhich allows them to offer a wider range of cryptographic exchange services to users in Bahrain.
  • Bitfinex valuesthe tokenized values ​​platform of cryptographic exchange Bitfinexnamed Jesse Knutson as Chief Operating Officer. Knutson was previously vice president of financial products at the blockchain technology company Blockstream.
  • Coinbase announced than its anti-money laundering (AML) compliance solution. Travel Rule Universal Solution Technology (TRUST) is expanding worldwide, now available in the US. U.S., Canada, and Singapore, with Europe in talks as they “work actively to expand into other global jurisdictions.”

NFT News

  • O Digital Assets Gallery (GODA), described as a resource for contemporary artists to explore the non-fungible token (NFT) and digital space, has announced its release. The first descent is scheduled for early this summer and will include the GODA Mint Pass which guarantees access to future descents. Producer Pharrell Williams is among the co-founders of the platform.

New miners

  • Giant chip Nvidia said its contribution to cryptographic mining processor (CMP) sales was “nominal” for its first fiscal quarter of 2023 which ended May 1, 2022. Its first quarter revenue from its business unit “OEM and Others “fell 52% to $ 158 million. the same quarter last year due to a decline in sales of cryptographic mining processors.

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