Hong Kong to make retail crypto trading legal
Hong Kong plans to legalize retail trading of cryptocurrency, according to a Bloomberg report Thursday. Crypto platforms will be required to apply for a license to offer retail trading, according to the report.
The city wants to reestablish its reputation as a global financial hub. The move contrasts with mainland China, where crypto is banned.
Crypto exchange FTX is working on creating a stablecoin
Cryptocurrency exchange FTX is working on creating a stablecoin, CEO Sam Bankman-Fried told The Big Whale in an interview.
The exchange knows how to create one and is thinking about the best partner to work with, he said. He also hinted that an announcement will come soon.
Celo ecosystem projects raise $77.3M in support of interoperability, ReFi
Projects building on the Celo blockchain have collectively raised $77.3 million in support of various business initiatives, underscoring the growing adoption of the payments-focused developer network.
Several projects building on the platform have received venture funding. Celo announced on Oct. 27 that projects impactMarket, Loam, Tatum, Circular Impact, Sanergy, Hyperlane, RedStone and Jia secured funding to further the adoption of theirWeb3 business models.
Kazakhstan to integrate CBDC on BNB Chain
The National Bank of Kazakhstan will integrate its central bank digital currency (CBDC) on Binance’s blockchain network BNB Chain, Binance CEO Changpeng Zhao said.
The Bank began testing the nation’s digital currency (CBDC) in 2021, the Kazakh tenge. On October 26, CZ revealed that Kazakhstan has made the decision to test the use of its CBDC via blockchain, namely BNB Chain. The CBDC is expected to launch at the end of 2022.
Google Cloud introduced blockchain Node Engine
Building on the commitment to help Web3 developers build and deploy new products on blockchain-based platforms, on October 28, Google Cloud introduced its Blockchain Node Engine.
Blockchain Node Engine is a fully managed node-hosting service that can minimize the need for node operations. Ethereum will be the first blockchain supported by Blockchain Node Engine, enabling developers to provision fully managed Ethereum nodes with secure blockchain access.
A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance
Despite warnings that a macro bottom may not yet have occurred, Bitcoin investors have wasted no time snapping up BTC above $20,000.
The past two days’ gains delivered a sea change to exchange user behavior, with BTC balances dropping across the board. As the largest exchange by volume, Binance was of particular interest and saw a net position change of over 55,000 BTC on Oct. 26 — the most ever.
Twitter will allow users to buy and sell NFTs through tweets
Social media platform Twitter today announced that it will let users buy, sell, and display NFTs directly through tweets. The integration, called NFT Tweet Tiles, displays the artwork of an NFT in a dedicated panel within a tweet, and includes a button to let users click through to a marketplace listing.
The integration—which is still in testing—currently works with marketplaces from four specific partners: Solana-centric marketplace Magic Eden, multi-platform NFT marketplace protocol Rarible, Flow blockchain creator Dapper Labs, and sports-centric platform Jump.trade.
Blockchain.com partners with Visa to offer crypto debit card
Crypto exchange Blockchain.com has partnered with Visa to launch a crypto card, available to only U.S. residents initially, which allows users to pay using their crypto or cash balance wherever Visa debit cards are accepted.
In an Oct. 26 announcement, Blockchain.com revealed that there would be no sign-up or annual fees, no transaction fees, and users would earn 1% of all purchases back in crypto.
THORChain halts its platform due to an unknown bug, no issues of insolvency reported
THORChain, a cross-chain platform for token swaps and bridging, has halted its chain. According to the team, the cause of the chain halt is likely due to a “unique transaction type” error.
THORChain did not provide further clarification or details on what this means in its tweet and added that its developers are already working to fix the issues.
SushiSwap to create three DAOs in Panama and Cayman in business restructuring
The Sushi DAO, the decentralized autonomous organization behind crypto exchange SushiSwap, has approved a legal restructuring on Oct. 26 that creates three new decentralized entities, aiming to provide more flexibility to its operations.
The proposal, which received 100% votes in favor, will create the DAO Foundation, Panamanian Foundation, and Panamanian Corporation, each serving different purposes.