Crypto Weekly Roundup: BTC Adopting Sustainability, DeFi Mortgage In Austin, USN Live On NEAR, Musk Acquires Twitter, LatAm Regulations, And More

Despite the turbulence affecting the rally of BTC, ETH, and other prominent cryptos, the changing landscape of regulations in Latin America has set the ball rolling. Additionally, this week also marks the landmark acquisition of Twitter by Elon Musk. Let’s dig in deeper. 

Bitcoin

Bitcoin wiped out its rally last week and fell under $38,000. Meanwhile, the DXY, the US Dollar Currency Index, continued its steep climb as investors chose the perceived safe option, at least for the short term.

The Bitcoin mining industry is increasing its dependence on electricity from sustainable sources, significantly reducing its dependence on non-renewables.

Fort Worth, Texas, has become the first US city to mine Bitcoin after three mining machines were donated to the city by the Texas Blockchain Council. 

Finland’s government outlined plans to donate millions of dollars of Bitcoin seized by customs officials to Ukraine, helping it with its war against Russia.

Chainalysis recently released its 2021 cryptocurrency gains by the country report, which revealed that the US made more than five times the gains of the UK, its nearest rival. 

DeFi

A homeowner in Texas has heralded the era of on-chain DeFi mortgages after securing a loan in USDC stablecoin over the Polygon network, using nothing but their credit score. 

0x Labs has announced that it has closed a $70 million Series B in an investment round led by Greylock, a key industry player in blockchain project investments.

Altcoin

The decentralized stablecoin USN was launched on the NEAR Protocol mainnet, led by the Decentral Bank DAO. 

Business

Twitter Inc. has announced that it has entered into a final and definitive agreement to be acquired by Elon Musk.

Tech and electronics giant Samsung has committed to invest $25 million in the up-and-coming South Korean metaverse startup, DoubleMe. 

With the crypto race heating up in the United Arab Emirates, the crypto exchange Kraken has recently obtained the crypto operations license, allowing it to set up shop in Abu Dhabi. 

Binance has announced the launch of a crypto card specifically targeted at refugees who have fled Ukraine and will enable them to receive funds via the Binance Visa Card.

The CEO of Ripple, Brad Garlinghouse, has pointed out that an unfavorable outcome in the SEC lawsuit would not affect the company’s performance in any way. 

The Standard Chartered Bank has partnered with the leading decentralized virtual gaming world, The Sandbox, to create its first Metaverse experience. 

Regulations

The Central Bank of Cuba issued guidelines on Tuesday for virtual asset service providers that would require them to obtain a license to conduct crypto operations in the country. 

Brazil’s Senate has approved the country’s first regulatory bill to govern crypto trading, also called the “Bitcoin Law.”  

The Panama National Assembly has passed a bill that will regulate the use and commercialization of crypto assets in the country.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.