To summarise, VCs will invest greater money in cryptocurrency in 2021 than in any other year united.
According to Bloomberg, cryptocurrency has garnered around $30 billion in 2021, which is higher than in all prior years together. As per transaction data gathered by PitchBook Data, this is nearly triple the prior high of about $8 billion in 2018, or the year after Bitcoin’s over than 1,300% record success.
The RBI reaffirms its support for a full ban on cryptocurrencies.
The Central Bank (RBI) has told its central board that it advocates a blanket prohibition on cryptocurrencies. A lengthy briefing to the board focused on “severe worries” about macroeconomic and fiscal sustainability, as well as exchange management. More information about this report may be found in the Economic Times.
In the inaugural NFT release, Adidas Originals earned $23 million.
Adidas Originals acquired $23.5 million through the sale of 30,000 of its non-fungible “Into the Metaverse” tokens (NFTs). In 2022, NFT subscribers will have exposure to virtual wearables for the blockchain-based game world the sandbox, as well as corresponding tangible items. Each NFT cost 0.2 ETH and made the corporation 5,924 Ethereum (ETH). Adidas collaborated with Bored Ape Yacht Club, Punks Comics, and GMoney to create the NFTs.
Melania Trump’s Non-Financial Transaction (NFT) initiative
In return for a cryptocurrency token, you can currently purchase a digital watercolor picture of Melania Trump’s eyes. This week, the erstwhile first lady established a company selling non-fungible tokens, or NFTs, on her webpage in exchange for a Solan token, which is presently worth roughly $180 per token. Trump plans to offer NFTs on her site “at periodic periods,” with a percentage of the revenue benefiting foster kids. It is unknown what proportion of the revenues would be contributed, or even if the contributions will go to a particular foster kid charity. Non-fungible tokens are basically digital certifications of validity that may be linked to any sort of digital files, such as art, music, or video.
Melania’s Vision is the title of her debut NFT release (2021). Marc-Antoine Coulon, a French artist, created a painting of the previous First Lady’s eyes. “I am extremely delighted and privileged to work in this endeavor with Mrs. Melania Trump,” the artisan stated on Instagram. This partnership accomplished underneath the finest of circumstances, with complete creative conviction and remarkable efficiency and comprehension on both ends of the shared aspirations for such a philanthropic enterprise.”
17 people have defrauded out of Rs 38 lakh in a crypto Ponzi scheme.
Two guys from Surat are accused of defrauding 17 people out of Rs 38 lakh by running a ponzi scam employing cryptocurrencies. The pair also built a webpage called ‘cybertron.live’ and forced individuals to sign smart contracts. The offenders advised customers to invest in Tron, a cryptocurrency that would pay them a 2% yield every day in their digital wallet. In a sense, the investment tripled in 150 days. They invited the investors to locate others like them in order to quickly treble their money and make an extra 10% fee. The scheme’s 17 sufferers deposited Rs 52.20 lakh and received just Rs 13.90 lakh back through different bank transfers, cash, and angadiya.
Myanmar’s shadow government announces Tether to be the national currency.
SBI Group, Tokyo’s largest financial services provider, will currently allow Japanese investors to acquire cryptocurrencies through its recently created crypto-asset fund. The fund is made up of seven different cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Chainlink, and Polkadot.
Myanmar’s shadow government has recognized Tether (USDT), a US dollar-pegged stablecoin, as legal tender, while the US Securities and Exchange Commission has postponed its ruling on Bitcoin ETFs until the beginning of February.