A third of Salvadorans ‘actively’ using Chivo wallet, President Bukele claims

Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit.  The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s only a matter of time before Chivo adoption eclipses all banks in El Salvador combined. 2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).…

Crypto recovers on positive Fed and Evergrande news, then drops amid China FUD; Sorare and Dapper Labs raised a combined $930M: Hodler’s Digest, Sept. 19-25

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt The crypto markets were showing signs of recovery during the week as the U.S. Federal Reserve committed to carrying on its spending habits, while Chinese real estate giant Evergrande was…

Derivatives data suggests Solana has reached a short-term top

Solana (SOL) reached a $216 all-time high on Sept. 9 after rallying 508% since Aug. The bull run caused some analysts to project a $500 target which would translate to a $150 billion market capitalization. It is worth noting that during SOL’s rally, the Ethereum network’s average transaction fee had surpassed $40. Surging interest in the NFT market accelerated investors’ transition to Solana, which was boosted by FTX’s NFT marketplace launch on Sept. 6. Solana, Avalanche, and Cosmos price at Binance. Source: TradingView The above chart shows SOL’s two-month performance…

China’s BSN Builder Is Registering a Nonprofit in Singapore to Manage International Arm

Red Date Technology, the company developing China’s Blockchain Services Network (BSN), wants the project to move past its government roots as it pushes for international expansion in a tumultuous geopolitical climate. Red Date filed in late July to register a nonprofit foundation in Singapore to manage the international version of the network, CEO Yifan He told CoinDesk. Read More: China’s Latest Crypto Ban Is Its Most Severe, Insiders Say The company hopes to bring international leaders from tech and financial services companies onto the board of directors, he said. The…

Art Collectors Swoon Over NFTs at Elite Basel Gathering — CoinDesk

Kamiar Maleki, director of the adjacent Volta Art Fair taking place in Basel, agreed, having got into NFTs this past summer. In July, Maleki curated what the Art Newspaper described as the first NFT art residency, which took place at the Four Seasons Grand-Hotel Cap-du-Ferrat in southern France. The project featured the British hip-hop musician Tinie Tempah, alongside visual artist Sassan Behnam-Bakhtiar and Vector Meldrew, who came together over a week in the idyllic French estate to produce and sell an NFT on Nifty Gateway. Source link

A catalyst to mainstream adoption of decentralized finance

The past few months have seen decentralized finance (DeFi) platforms gain a cult-like following on the backdrop of a bullish cryptocurrency market. That revolution of digital money is now moving into the gaming industry, creating an intersection between DeFi and the gaming experience that experts now predict will play a huge role in the next generation of games.  DeFi-focused tokens such as Polkadot (DOT), Solana (SOL) and Chainlink (INK), to mention a few, have had euphoric moments in the markets, gaining major traction as major developments continue.  Investors and speculators…

Average Aussie crypto portfolio grew 258% in FY 20-21, survey reveals

The average portfolio size on Australian cryptocurrency exchange BTC Markets has grown from $577.65 (795.5 Australian dollars) to $2,069.16 (2849.5 AUD) in the financial year 2021, signaling a 258.2% increase in portfolio holdings, according to exchange data compiled by Statista on a recent BTC Markets survey. Data on the survey shows that the average portfolio size of female and male investors in fiscal 20-21 on BTC Markets was $1,924.30 (2,650 AUD) and $2,214.03 (3,049 AUD), respectively. However, in 2020, the average portfolio size of female Aussie investors exceeded male investors slightly. …

Huobi Appears to Have Suspended Mainland Chinese New User Registration — CoinDesk

Just a day ago, the People’s Bank of China (PBoC) published a notice containing vastly stricter restrictions on crypto trading, so strict that they would effectively ban it, if enforced rigorously. According to the notice, which was co-signed by ten agencies, anyone facilitating trades is subject to legal prosecution, including those individuals who live inside China but work for off-shore crypto exchanges that provide service to China. Source link

Life on Bitcoin (2021 Edition)

Join hosts Jonathan Mohan, Stephanie Murphy and Andreas M. Antonopoulos as they reflect on bitcoin’s evolution as a currency and commodity. In the early days, an era of retail adoption as merchants began to accept bitcoin from their customers seemed to point to a bright future for daily bitcoin use. The 2013 IRS addendum treating bitcoin as a commodity, rather than as a foreign currency, quickly made transactions a burden with onerous tax reporting requirements, dimming that retail bitcoin future. In the time since, the crypto community has adopted a…

It’s now or never — The US has to prepare itself for digital currency

Welcome to the world of central bank digital currency, or CBDC, where big countries like China and small countries like the Bahamas are trying to mark their presence. It’s a world where 86% of the world’s central banks are trying to create digital currencies. Almost 60% of them are working on the concept and 14% have already introduced a pilot program. Related: Did CBDCs affect the crypto space in 2020, and what’s next in 2021? Experts answer CBDC: A global perspective A CBDC is the digital version of a national…