News updates March 20, 2022
1. Bitcoin Balance On Exchanges Hits New Low Of 2.5 Million
Accelerated outflows of Bitcoin from exchanges have been a recurring theme in market analysis of late. According to Glassnode, this week has continued to point to bullish exchange outflows of Bitcoin, especially from spot exchanges.
2. Facebook Owner Meta Sued for Publishing Scam Crypto Ads by Australian Regulator
The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.”
3. Member of St. Maarten’s Parliament Plans to Have His Entire Salary Paid in Bitcoin Cash
On Saturday, the leader of the United People’s Party and member of St. Maarten’s Parliament, Rolando Brison, announced that he’s become the first elected official to request his entire salary paid in bitcoin cash. Brison believes St. Maarten can be the “Crypto Capital of the Caribbean,” as long as his country continues to embrace blockchain technology and cryptocurrency solutions.
4. MetaFi projects to keep an eye on in 2022
The Open Metaverse is a nascent field, however, 2022 is perhaps the year when creators, users, developers, and tech-savvy individuals will tap into various Metaverse opportunities never seen before whether in gaming, music, art, work, commerce, etc. In addition, Metaverse projects are going to merge with another ingredient, Decentralized Finance (DeFi), resulting in what has been recently called “MetaFi”.
The Following are a few projects in the MetaFi to keep an eye on:
Terra Virtua - A Metaverse platform built on Polygon aimed to create, trade, collect and live virtual experiences. Terra Virtua has an art gallery, a marketplace, and NFT collections.
Next Earth - A virtual land ownership platform allowing to generate income from the undertaken activities. DeFi is also present in play-to-earn, farming, and staking of the native NXTT token.
Terra World - is built on the Terra blockchain with Metaverse deployments including the NFT Real Estate market or Terra World Art Hall, a sophisticated NFT gallery for selected digital artists.
Terra Office - Terra Office introduces the Metaverse for Work (MFW) concept, a mining system that provides rewards in the native TWD token just by running an office or working in one.
5. Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions
Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions.
6. Venezuela tops NFT auction charts for Latin countries
For a few months now, the NFT trend has been fully imbibed in Venezuela. Trading in non-fungible tokens is crossing borders, going from being useful for artists in Europe to helping fans in the Caribbean country. According to reports, citizens are using the virtual market to offer their pieces and thus generate income that will serve as a source of help to defeat the economic conflicts that the country is going through.
7. US Lawmaker Says Bitcoin Is Aligned With American Values, Will Strengthen the Dollar
U.S. Congressman Pete Sessions says bitcoin is aligned with American values and will strengthen the U.S. dollar. The lawmaker further noted that the cryptocurrency “is trending to be a more resilient alternative option to hedge against Fiat-Currency inflation.”
8. Noyack Logistics Income (NLI) Became the First REIT to Accept Crypto Payments
The US real estate investment trust – Noyack Logistics Income (NLI) – partnered with BitPay to embrace cryptocurrencies as a payment method. Moreover, the company became the first in its field to accept settlements of this type.
9. Ron Paul Cautions Government Could Still Ban Bitcoin
Former U.S. Congressman Ron Paul says he still believes that the government could outlaw bitcoin mainly because he is “influenced a whole lot by history and the gold history.” Despite his warning, Paul stressed that crypto “should be obviously permitted.”
