28 Sep 2021 · 4 min read
The Biggest Crypto Economy, Bitcoin Reaches Verifone, Alibaba Ban + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- Central, Northern, & Western Europe (CNWE) has the biggest crypto economy in the world, receiving over USD 1trn worth of crypto over the last year, which represents 25% of global activity, according to Chainalysis. Having ranked second last year, CNWE’s new position in the top spot is the result of tremendous growth starting in July 2020, combined with a relative decline in activity in Eastern Asia, they added.
- Crypto payments company BitPay and retail payments company Verifone have announced the extension of BitPay’s blockchain payment technology to enable consumer cryptocurrency payments on Verifone’s in-store and eCommerce Cloud Services platforms in the US. Merchants will be able to accept crypto payments directly from Verifone without the need for an account with BitPay, while consumers will be able to pay using approved crypto wallets.
- Fintech company Revolut is looking to launch its own crypto token, CoinDesk reported, citing undisclosed sources. The report claims that the company will be making something similar to an exchange token as opposed to creating a stablecoin, subject to approval from the UK Financial Conduct Authority (FCA).
- Morgan Stanley analyst Ken Zerbe has published a research note recommending stock in crypto-focused bank Silvergate, per ZeroHedge. He added that it is one of the most “distinctive” banks they cover, and that it is severely undervalued at its current USD 109 trading price, stating that USD 158 would be more accurate.
- Chinese e-commerce giant Alibaba has announced it will prohibit the sale of crypto miners on its platform, as well as tutorials, strategies, and software that can be used for crypto mining. The prohibition takes effect on October 8, and the company advises that members of its platform “have responsibility for complying with relevant laws and regulations applicable to any country of sale.”
- US Senators Maggie Hassan and Joni Ernst have introduced bipartisan legislation "to help improve oversight of cryptocurrency mining operations in foreign countries." The bill would require the Treasury Department to report to Congress on virtual currencies and their use globally – including how other countries are using and mining cryptocurrencies, and how cryptocurrency mining operations are impacting supply chains, including for critical technologies like semiconductors, per the announcement.
- BeePool, the fourth-largest Ethereum (ETH) mining pool in terms of processing power, or hashrate (6% of the total hashrate), said that starting October 15, it will suspend its services.
- A malicious Firefox addon called “Safepal Wallet” has been emptying users’ wallets for months, pretending to be the real SafePal wallet that holds various crypto assets, with Mozilla replying that they will “look into this.” It is unknown how the scammy wallet got listed in the first place.
- App-based marketplace for non-fungible tokens (NFTs) VeVe has announced it has partnered with entertainment company Metro Goldwyn Mayer (MGM) and EON Productions to launch a series of NFTs from the James Bond franchise. The NFTs are celebrating the upcoming No Time to Die with an array of different digital collectibles.
- Nolan Bushnell, founder of video game company Atari, has announced The Arcade OG Series of NFTs in a partnership with NFT marketplace MakersPlace. Each Arcade OG Series collectible comes with an augmented reality experience that lets users view the 3D rendering of the arcade cabinet within any real-world space.
- The main webpage for Nigeria’s central bank digital currency (CBDC) has gone live before next month’s planned release of the digital naira. The new website states that the eNaira serves as both a medium of exchange and a store of value, offering “better payment prospects in retail transactions when compared to cash payments.”
- Blockchain solution Fantom (FTM) has announced it will work with Tajikistan’s OJSC Orienbank to build a CBDC for the Republic of Tajikistan. The currency will be used for retail and commercial payments, as well as a foreign exchange.
- US Coinbase users will be able to deposit their paycheck into the exchange to more easily make regular crypto trades, spend on Coinbase Card, earn crypto rewards, and more, according to a blog post. Users can set up direct deposit and decide what percentage of their paycheck they want to deposit, as well as whether they want to receive it in US dollars or any of the available cryptocurrencies.
- Securitize, a digital asset securities marketplace, said they have launched Securitize Markets that provides investors access to invest in and trade a range of alternative assets, including private company equity, real estate and funds, within a single regulated digital marketplace.
- Social token infrastructure company, Roll, said it has raised USD 10m in Series A funding led by IOSG Ventures with participation from Animoca Brands, Alchemy, Huobi Ventures, and more. To date, Roll is being used by 350 creators, while in the past month, Roll’s social tokens have eclipsed USD 250m in market value and over USD 2m in daily trading volume, the company said.
- Nahmii, a layer 2 (L2) scaling protocol for the Ethereum blockchain, said they have launched an L2 scaling solution "primed for institutional scale" and have raised USD 8m in an investment round led by DARMA Partners, the general partner for DARMA Capital, an investment fund managed by Ethereum veterans Andrew Keys and James Slazas.
- Angle Labs, the company behind the Angle Protocol, has raised a USD 5m funding round led by Andreessen Horowitz, TechCrunch reported. The small team has been working on a euro stablecoin on the Ethereum blockchain, it added.
- West Realm Shires Services Inc. and FTX Trading Ltd, the companies behind the FTX US and FTX.COM exchanges, announced a long-term partnership with Green Bay Packers Running Back Aaron Jones. In addition to being a FTX ambassador, Jones purchased an equity stake in FTX. As part of the deal, Mr. Jones' compensation will be paid in cryptocurrency, they added.