BITCOIN OVER BANKS? Nearly a third of Salvadorans, or about 2 million people, are actively using the state-issued Chivo bitcoin wallet, according to President Nayib Bukele. If the figure is accurate, more people are using cryptocurrencies than any particular bank in El Salvador less than a month after BTC became legal tender there.
QUICK CONSEQUENCE: Authorities in China's Inner Mongolia province seized 10,100 cryptocurrency platforms from a government-operated technology park, according to local media. This comes days after senior government officials renewed a crackdown on cryptocurrency trading and mining. Separately, Huobi Global announced Sunday that it would stop serving existing users in China by the end of the year.
GO GREEN: Singapore startup Cyberdyne Tech Exchange sold its first tranche of carbon neutrality tokens backed by Chinese carbon credits, according to a Monday press release. These carbon neutrality tokens (CNTs) correspond to 5,000 metric tons of carbon credits generated by a wind project in Zhangjiakou. Separately, sustainable bitcoin mining company CleanSpark has moved all of its hashrate to the North American mining pool of Foundry Digital. (USA Pool of Foundry is a subsidiary of CoinDesk parent Digital Currency Group).
SWAPPING PLACES? Derivatives exchange FTX has officially moved its headquarters from Hong Kong to the Bahamas, amid increasing regulatory scrutiny around the world. Binance, under fire from financial watchdogs, is restricting use in Singapore. Valar Ventures, Third Prime and Castle Island led a $15 million raise in the Africa-focused exchange Yellow Card. Finally, decentralized exchanges (DEXs) are seeing growing volumes following China's cryptocurrency crackdown, with a value build in their tokens.
AT CARDANO: Emurgo, Cardano's venture and trading arm, is investing $100 million to boost DeFi, NFTs and blockchain education efforts for the world's fourth-largest blockchain. Meanwhile, Cardano founder Charles Hoskinson has donated $2 20 million to Carnegie Mellon University to establish the Hoskinson Center for Formal Mathematics. Finally, Dish Network is looking to use Cardano to provide digital identity services in a new partnership with Input Output, Cardano's parent company.
MINING ISSUES: U.S. Senators Maggie Hassan (D-N. H.) and Joni Ernst (R-Iowa) have proposed legislation that would require the Treasury Department and other agencies to track how cryptocurrency has spread around the world. This would be, in part, to" identify vulnerabilities "crypto introduces to" the global microelectronic supply chain. "Meanwhile, e-commerce giant Alibaba will stop selling specialized mining equipment on Oct. 8, as at least 18 more crypto platforms and companies exit China following a nationwide crypto ban.
GUILTY AGREEMENT: Virgil Griffith, the controversial Ethereum developer accused of violating U.S. sanctions law for giving a presentation in North Korea in 2019, has pleaded guilty in a deal with federal prosecutors. He pleaded guilty to one count of conspiracy to violate the International Emergency Economic Powers Act on Monday in a New York court, and could serve between 63 and 78 months in prison after sentencing.
NODWORTHY: A roundup of new tools and announcements pushing cryptocurrencies to new frontiers:
Social token builder Roll has raised 110 million in Series A funds led by IOSG Ventures. CEO Bradley Miles said Roll wants to be the " Stripe for social tokens."”
Fireblocks has proposed taking a first step towards "institutional DeFi" with an Arc tie-up Aave.
Hedgehog Markets, a blockchain-based prediction market platform, is testing "loss-free markets," which combine information markets, DeFi, stablecoins and "play-to-win"games.
Digital asset securities firm Securitize has launched a secondary market in hopes of attracting minority investors looking to trade tokenized shares of private companies.
Crypto Connect, founded by Anderson Kill attorney Hailey Lennon and 25 other influential women in blockchain, is being launched in 12 U.S. cities to provide a professional network for people in the crypto industry.
Coinbase will allow direct deposit of paychecks, taking a step further on the publicly traded exchange towards the provision of general banking services.be
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