The government of Dubai will move to the metaverse.
Just read what Cybergear, the director of the metaverse at Dubai's metaverse company (the job title is certainly fire🔥🔥), said:
"We have started getting a lot of inquiries from government departments and ministries to make them Metaverse-enabled. It is just a matter of time before Dubai becomes the crypto and Metaverse hub of the world."
The country has developed a global plan to make the Metaverse a lucrative industry in the future.
The goal: to make Dubai the crypto- and metaverse center of the world.
By 2030, the strategy is to create 42,000 virtual jobs in Dubai's metacenter.
Dubai in general is actively working in this direction. There are already burger houses with elements of metacities, and plans are to launch hospitals in metaverses (where you can fully communicate with the staff) and other initiatives.
Just read what Cybergear, the director of the metaverse at Dubai's metaverse company (the job title is certainly fire🔥🔥), said:
"We have started getting a lot of inquiries from government departments and ministries to make them Metaverse-enabled. It is just a matter of time before Dubai becomes the crypto and Metaverse hub of the world."
The country has developed a global plan to make the Metaverse a lucrative industry in the future.
The goal: to make Dubai the crypto- and metaverse center of the world.
By 2030, the strategy is to create 42,000 virtual jobs in Dubai's metacenter.
Dubai in general is actively working in this direction. There are already burger houses with elements of metacities, and plans are to launch hospitals in metaverses (where you can fully communicate with the staff) and other initiatives.
Celsius is officially "over" - the company has filed for bankruptcy
Along with the cryptolanding platform, some of its subsidiaries have also filed for bankruptcy.
The filing is filed under Chapter 11 of the U.S. Bankruptcy Code. The company hopes the restructuring will "maximize value for all stakeholders."
We've heard that language somewhere before🙃
The company stressed that since the filing, most of the platform's operations have been suspended, but it will continue to operate.
Naturally, the CEL token fell 13% in the face of such an announcement.
"Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers," the company summed up the decision.
Along with the cryptolanding platform, some of its subsidiaries have also filed for bankruptcy.
The filing is filed under Chapter 11 of the U.S. Bankruptcy Code. The company hopes the restructuring will "maximize value for all stakeholders."
We've heard that language somewhere before🙃
The company stressed that since the filing, most of the platform's operations have been suspended, but it will continue to operate.
Naturally, the CEL token fell 13% in the face of such an announcement.
"Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, swaps, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers," the company summed up the decision.
Binance gave an interesting "report" on its 5-year anniversary
According to Zhao, the platform has "exceeded his wildest expectations" in that time frame.
Looking at the numbers, we're willing to believe🙃
- Binance's staff has grown by more than 200 times, and BNB Chain now has more than 1,200 projects.
- The exchange's user base has grown to 120 million people, and BNB Chain has processed over 2.4 billion transactions since 2020.
- Binance has issued more than 1.7 million cryptocurrency cards in the European region. The plastic payment volume has exceeded $2 billion;
- About 17 million transactions totaling $12 billion were conducted through Binance Pay.
- The number of weekly users of the Binance NFT Marketplace reached 600,000.
And several more theses were given, but we will not mention them. CZ beautifully concluded the enumeration of the company's successes. He said that Binance had raised over 2.88 million BTC for charity - nearly $52.24 billion!
According to Zhao, the platform has "exceeded his wildest expectations" in that time frame.
Looking at the numbers, we're willing to believe🙃
- Binance's staff has grown by more than 200 times, and BNB Chain now has more than 1,200 projects.
- The exchange's user base has grown to 120 million people, and BNB Chain has processed over 2.4 billion transactions since 2020.
- Binance has issued more than 1.7 million cryptocurrency cards in the European region. The plastic payment volume has exceeded $2 billion;
- About 17 million transactions totaling $12 billion were conducted through Binance Pay.
- The number of weekly users of the Binance NFT Marketplace reached 600,000.
And several more theses were given, but we will not mention them. CZ beautifully concluded the enumeration of the company's successes. He said that Binance had raised over 2.88 million BTC for charity - nearly $52.24 billion!
Bitcoin miner prices collapsed to a two-year low
The average price of asics in terms of generated hash rate has dropped to 2020 levels.
Now the price of the most powerful miners is about $41 per 1 TH of power. Meanwhile, Antminer S19 and S19 Pro can be bought for $20-$23 per TH.
Not only has the overall market downturn, but the bankruptcy of Celsius and the firm's Celsius Mining division has put a lot of pressure on the price. In June, Celsius Network's mining division auctioned off 6,000 miners at $28/TH. The firm sold a second tranche of 5,000 units at $22/TH.
The average price of asics in terms of generated hash rate has dropped to 2020 levels.
Now the price of the most powerful miners is about $41 per 1 TH of power. Meanwhile, Antminer S19 and S19 Pro can be bought for $20-$23 per TH.
Not only has the overall market downturn, but the bankruptcy of Celsius and the firm's Celsius Mining division has put a lot of pressure on the price. In June, Celsius Network's mining division auctioned off 6,000 miners at $28/TH. The firm sold a second tranche of 5,000 units at $22/TH.
OpenSea to fire 20% of its staff
OpenSea CEO Devin Finzer said in a letter to the marketplace team that the company would cut 20% of its staff. The decision was explained as "an unprecedented combination of crypto winter and broad macroeconomic instability."
In this respect, the leading NFT marketplace is no less than other major players in the crypto industry, such as Gemini, Coinbase, Crypto.com, BlockFi, BitMEX and Bitpanda.
OpenSea CEO Devin Finzer said in a letter to the marketplace team that the company would cut 20% of its staff. The decision was explained as "an unprecedented combination of crypto winter and broad macroeconomic instability."
In this respect, the leading NFT marketplace is no less than other major players in the crypto industry, such as Gemini, Coinbase, Crypto.com, BlockFi, BitMEX and Bitpanda.
Fear in the market for 72 days
The Bitcoin Fear & Greed Index has been in the extreme fear zone for 72 days.
That’s the longest stay of the cryptocurrency market in this range in the history of observation.
The first long stay in the extreme fear zone in the absolute bottom of the bear market was observed in 2018-2019. At that time, extremely negative sentiment among traders reigned for 32 consecutive days.
The second time was during COVID-19 and lockdowns in March-April 2020 - the Fear and Greed Index remained above 25 points out of 100 (extreme fear zone) for 50 days.
The Bitcoin Fear & Greed Index has been in the extreme fear zone for 72 days.
That’s the longest stay of the cryptocurrency market in this range in the history of observation.
The first long stay in the extreme fear zone in the absolute bottom of the bear market was observed in 2018-2019. At that time, extremely negative sentiment among traders reigned for 32 consecutive days.
The second time was during COVID-19 and lockdowns in March-April 2020 - the Fear and Greed Index remained above 25 points out of 100 (extreme fear zone) for 50 days.
Robert Kiyosaki said that the creation of a central bank currency (CBDC) is "a sign of communism in its purest form".
The entrepreneur also recalled Biden's Executive Order 14067, which required the relevant authorities to "urgently study" the legal and financial benefits and risks of creating their own CBDCs for consumers, investors and businesses. The order also stated:
"Any future dollar payment system should be designed in a way that is consistent with United States priorities, including privacy protections, and that ensures the global financial system has appropriate transparency, connectivity, and platform and architecture interoperability."
Kiyosaki concluded the post with an advice to "tune out Biden."
The entrepreneur also recalled Biden's Executive Order 14067, which required the relevant authorities to "urgently study" the legal and financial benefits and risks of creating their own CBDCs for consumers, investors and businesses. The order also stated:
"Any future dollar payment system should be designed in a way that is consistent with United States priorities, including privacy protections, and that ensures the global financial system has appropriate transparency, connectivity, and platform and architecture interoperability."
Kiyosaki concluded the post with an advice to "tune out Biden."
The Paraguayan Senate approved a bill on cryptocurrency trading and mining, leaving the last word to the country's president.
If the bill is signed, miners will have a preferential payment rate for electricity ($0.05 kW⋅h), and a register of individuals and legal entities that provide services for trading and storing cryptocurrencies will be created.
If the bill is signed, miners will have a preferential payment rate for electricity ($0.05 kW⋅h), and a register of individuals and legal entities that provide services for trading and storing cryptocurrencies will be created.
🇦🇪 The Crown Prince of Dubai reported that more than 1,000 companies that work in the blockchain and metaverse sector bring in about $500 million to the country.
Against this background, Hamdan bin Mohammed announced the launch of a new strategy that aims to encourage innovative developments.
Other goals include increasing budget revenues to $4 billion and creating more than 40,000 jobs over the next five years.
Against this background, Hamdan bin Mohammed announced the launch of a new strategy that aims to encourage innovative developments.
Other goals include increasing budget revenues to $4 billion and creating more than 40,000 jobs over the next five years.
U.S. senator calls for stricter regulation of cryptocurrencies in the country
Elizabeth Warren believes that Congress and the SEC should take an even tougher stance on the regulation of the cryptocurrency industry. This was reported by Yahoo Finance.
💬"Too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money," Warren said.
According to her position, regulators should care more about protecting investors and ensuring financial stability.
The idea is good, but the implementation is unlikely to pass without consequences for the crypto market🤷🏻
Elizabeth Warren believes that Congress and the SEC should take an even tougher stance on the regulation of the cryptocurrency industry. This was reported by Yahoo Finance.
💬"Too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money," Warren said.
According to her position, regulators should care more about protecting investors and ensuring financial stability.
The idea is good, but the implementation is unlikely to pass without consequences for the crypto market🤷🏻
U.S. officials will report on their NFTs
The U.S. Office of Government Ethics (OGE) issued a new legal advisory for officials who own NFTs. Note that this office oversees the entire executive branch at the White House and more than 130 government agencies.
The document states that subordinates must list NFTs in their public financial information if they are valued at more than $1,000 or generate more than $200 in income. The agency considers such assets to be securities - accordingly, they must be reported to the public.
Officials may not report such assets unless they are used for investment or income generation. In that case, NFTs are equated with household items.
To avoid confusion, OGE has added a 7-point checklist on how to properly distinguish personal NFTs from commercial ones.
The U.S. Office of Government Ethics (OGE) issued a new legal advisory for officials who own NFTs. Note that this office oversees the entire executive branch at the White House and more than 130 government agencies.
The document states that subordinates must list NFTs in their public financial information if they are valued at more than $1,000 or generate more than $200 in income. The agency considers such assets to be securities - accordingly, they must be reported to the public.
Officials may not report such assets unless they are used for investment or income generation. In that case, NFTs are equated with household items.
To avoid confusion, OGE has added a 7-point checklist on how to properly distinguish personal NFTs from commercial ones.
🧬 The total value transferred of the Bitcoin network in 2022 reached a whopping $17.78 trillion - for comparison, for the full year 2021, the first cryptocurrency network transferred coins worth $13.11 trillion.
Total value transferred is a metric that sums up the value transferred through all transactions on the crypto network over a certain period of time in dollar terms ($).
Total value transferred is a metric that sums up the value transferred through all transactions on the crypto network over a certain period of time in dollar terms ($).
🏆 Coinbase, Binance and Kraken ranked in the first three places in Kaiko's updated ranking of crypto exchanges.
The French company's analysts rank the exchanges based on a weighted aggregate of individual scores on six criteria: governance, business, technology, data quality, security and liquidity.
The French company's analysts rank the exchanges based on a weighted aggregate of individual scores on six criteria: governance, business, technology, data quality, security and liquidity.
🔥 According to a recent report, Tesla sold 75% of its BTCs, a sale volume of $936 million.
The company first reported buying BTC on February 8, 2021, at which time they spent $1.5 billion.
🚘 Elon Musk reported that the decision to sell BTC was made to increase the share of fiat in the company - the sale of BTC should not be taken as a "verdict" to the cryptocurrency and in the future Tesla does not deny the possibility of increasing positions on BTC.
Some participants reacted to this news stating that this decision of Tesla team will benefit the market, as now the cryptocurrency is free from manipulative pressure from Elon Musk.
The company first reported buying BTC on February 8, 2021, at which time they spent $1.5 billion.
🚘 Elon Musk reported that the decision to sell BTC was made to increase the share of fiat in the company - the sale of BTC should not be taken as a "verdict" to the cryptocurrency and in the future Tesla does not deny the possibility of increasing positions on BTC.
Some participants reacted to this news stating that this decision of Tesla team will benefit the market, as now the cryptocurrency is free from manipulative pressure from Elon Musk.