23 April

Payments processor Stripe will use Ethereum scaling platform Polygon in a move that will enable Stripe’s customers to pay sellers, freelancers, content creators and service providers in crypto. Initial payouts will be made using USDC stablecoins native to Polygon.

Twitter (TWTR) will be the first company to try out the feature by allowing earnings to be paid out to content creators in crypto for users of the company’s monetization products. Stripe said it will add support for additional rails and payout currencies over time.”

“Polygon plans to invest $100 million in customizable “Supernet” chains, customizable networks that projects will be able to run without cost. On each Supernet, validators will stake MATIC tokens on the mainnet before going on to validate the network to ensure a robust level of security.

In March, Avalanche committed $290 million to a Multiverse Fund, some of which will be used to develop “Subnets,” a similar concept to Polygon’s Supernets. Both efforts ultimately aim to scale application-specific blockchains, particularly those focused on consumer or enterprise use cases.”

See Also: Privacy Blockchain Findora Launches Ethereum-Based Testnet ‘Yellow Submarine’

“The yuan (CNY) fell to 6.5050 per U.S. dollar, the lowest level since July 2021 and was on the way to end the week with a 2.5% loss. That’s the biggest single-week percentage decline since August 2015. According to some observers, the yuan could continue to slide as China is facing a major economic downturn and needs to severely devalue its currency.

Lockdowns, slower GDP growth, and the currency of its nearest competitor Japan collapsing. A fast-weakening yuan is a risk-off signal.

Previous episodes of yuan devaluation injected significant volatility into traditional markets. For instance, the S&P 500 fell 6.2% in August 2015, hitting a 10-month low as the yuan depreciated by 2.5%. Stocks faced similar turbulence during three months to January 2016 as the yuan’s depreciation gathered pace.

Bitcoin’s strengthening correlation to stocks makes it vulnerable to a yuan-induced shake-off on Wall Street. Historically, before 2020, bitcoin has put in a positive performance during bouts of yuan weakness. Perhaps, Chinese investors diversified into bitcoin to hedge against fiat currency volatility. However, they may have a tough time doing so today, given China has banned bitcoin.”

“Scott Free Productions, the production company behind “House of Gucci” and “Blade Runner 2049,” has attached its name to an adaptation of The Defiant founder Camila Russo’s book “The Infinite Machine” about the founding of the Ethereum network.

Shyam Madiraju is attached to write and direct, and director Ridley Scott will produce alongside Scott Free colleagues Tom Moran and Vera Meyer.

I can’t imagine a better team to turn the riveting story about the people behind the most revolutionary technology since the internet into a feature film that will capture the hearts of our generation.”

Meet the war hero saving lives with crypto

European Union officials discussed banning Bitcoin (BTC) trading during a debate on a proposal to ban proof-of-work (PoW) mining, according to documents obtained through a freedom of information request.

We need to protect other crypto coins that are sustainable. We don’t see [the] need to protect the Bitcoin community.

Another unnamed speaker suggested that the EU could reasonably place a blanket ban on trading any crypto assets that used a PoW algorithm. The answer to this question was redacted in the document to protect the “ongoing decision-making process,” but it brings attention to the fact that the EU was seriously considering such dramatic regulation.

The EU’s Economic and Monetary Affairs Committee recently voted against legislation calling for a ban on proof-of-work mining. However, these documents do provide unique insight into the lengths that some EU officials are willing to go to in order to crack down on mining-related energy usage.”

“Ukraine’s central bank has banned the purchase of cryptocurrency using the country’s local currency. Individuals may only purchase crypto using foreign currency up to a value of 100,000 Ukrainian hryvnia ($3,400) per month, the National Bank of Ukraine said on Thursday.

The measures are being taken ‘to prevent unproductive outflow of capital from the country under martial law.’ Ukraine formally legalized crypto in the country last month.”

See Also: Panamanian Legislative Assembly’s Committee Approves Bill Regulating Crypto

“Binance fiercely denied it had helped Russian authorities track down donations to the opposition, in response to an investigation published by Reuters on Friday.

According to Reuters, last April, Gleb Kostarev, Binance head of Eastern Europe and Russia, met with Russia’s anti-money laundering agency, Rosfinmonitoring (Rosfin). According to Kostarev’s messages reviewed by Reuters, he consented to Rosfin’s request to agree to share client data.

Around the same time, Rosfinmonitoring was looking for ways to track crypto donations to the organizations of Russia’s opposition leader Alexei Navalny.

Although there are no direct indications of whether Binance indeed shared any user data with Rosfinmonitoring, Binance did not challenge the fact of the meeting itself.”

“So-called utility NFTs are now expanding beyond things like decentralized finance (DeFi) and into enterprise uses like supply chain track-and-trace.

AEternals NFTs, available via the Winklevoss-owned Nifty Gateway, offer the token holder a real-time connection to plots of virgin rainforest. In other words, if it happens to rain on your part of the forest, it rains on your NFT. The NFTs also grow and evolve over time, a process fueled by the owner’s engagement in game playing or by participating in social-impact community events or donating to a charity like Rainforest Partnership.

This adds an element of financial sovereignty into the NFT, as opposed to floor prices being set solely by some NFT platform, Gallardo said, because the owner decides how much to evolve their plot before selling it, and more evolved plots are valued differently.”

See Also: Play-to-Earn: Intro to Gods Unchained (Video)

Dan Tapiero explains his portfolio for 2022