• Sat. May 21st, 2022

Investments in Bitcoin reach a 3-month high, Solana overtakes Ethereum + More news

ByHazel R. Lang

Mar 28, 2022
Source: Adobe/Dmitry Rukhlenko

Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.


Investment News

  • Digital asset investment products saw inflows totaling USD 193 million last week, the largest since mid-December 2021, per CoinShares The data. 76% of admissions came from Europe at $147 million, while the Americas trailed at $45 million. Bitcoin (BTC) saw inflows totaling $98 million, while Ethereum (ETH) received $10 million. In comparison, a week earlier, BTC saw the largest outflows of the week, with $33 million in investment products, while it saw outflows of $17 million. Meanwhile, solana (SOL) had its biggest inflow week ever, totaling $87 million. It was under $1 million a week earlier.
BAT – monthly total; Since the beginning of the year – since the beginning of the year; AUM – assets under management. Source: CoinShares
  • Square SKan offshoot of the South Korean giant SK Groupannounced plans to spend at least KRW 2 billion ($1.6 billion) over the next three years on semiconductor chips and blockchain technology, according to the Korea Herald.
  • Web3 Dashboard Community OP3N announcement the launch of a $100 million Culture Catalyst initiative in partnership with Avalanche Foundation, the team behind the Avalanche (AVAX) blockchain project. The initiative will fund and support the development of arts, entertainment and cultural projects on Avalanche, while two musicians, Grimes and Ava Max, also work with the initiative, they added.

Regulatory News

  • Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions after Moscow invaded Ukraine via crypto-assets, Reuters reported, citing senior government officials. The government will submit a revision of the Foreign Exchange and Foreign Trade Law to the current parliamentary session, Chief Cabinet Secretary Hirokazu Matsuno said, while Prime Minister Fumio Kishida also called for the law to be amended during of a parliamentary session on Monday.
  • US House Democrats plan to introduce a bill calling for an electronic version of the US dollar equivalent to the physical version, The Register reported. However, electronic money would not be issued by the Federal Reserve and therefore would not be a central bank digital currency (CBDC), nor would it involve some sort of blockchain, distributed ledger or other intermediated account, opting for a “purely peer-to-peer” approach.
  • The United States White House Office of Science and Technology Policy (OSTP) is seeking public comment on the impact of crypto on energy consumption and the climate. Interested parties have until May 9 to provide their thoughts to the White House.

Trade news

  • Coinbase announced that users residing in Canada, Singapore, or Japan who send digital assets off-exchange may need to provide information about the type of wallet they are sending assets to and information about the recipient. The new rules come into effect on April 1 and differ from country to country.
  • ByBit has received approval in principle to conduct a full range of virtual asset businesses in Dubai, United Arab Emirates, the company announced in a press release shared with Cryptonews.com. ByBit also said it plans to establish its global headquarters in Dubai, offering a full range of products and services globally, under the “test-adapt-scale” virtual asset market model of the emirate. The new head office is expected to begin operations in April 2022.
  • Digital Asset Platform Zipmex announced partnerships with consumer brands in Asia, including a media conglomerate GMM-GrammyAirline company Thai Airwaysretail and real estate developer Siam Piwatand the media THE STANDARDto bring NFTs and metaverse experiences to the region.
  • MetaVerse Green Exchange (MVGX) announced a partnership with a global group of fintech companies Greenland Fintech Group offer “accessible crypto-assets” and digital carbon credits. The exchange of the latter, Guizhou Green Finance and Emissions Exchange (GGFEX), will also work with MVGX to establish a digital carbon trading platform and carbon asset-based ledger in China.

Crime News

  • Hong Kong police have rescued four people who were held in a hotel for four days by a syndicate after they were tricked into creating crypto accounts that were allegedly used to launder money, according to the South China Morning Post. Officials said that although the victims suffered no financial loss, officers were tracking the flow of money from their accounts while they were being kept at the hotel.

NFT news

  • An NFT created from Nelson Mandela’s original arrest warrant raised ZAR 1.9 million ($130,000) at auction to help fund Liliesleaf Museum Heritage Site, by Bloomberg. The buyer of the NFT will have exclusive access to the original document at the Liliesleaf Museum, Ahren Posthumus, CEO of the NFT market Momentnoted.
  • An NFT collection titled Ross Ulbricht Growth Collectioncomposed of original artwork by Ross Ulbricht, will be minted on the Bitcoin blockchain on April 5 and available for auction between April 6 and April 8 on the rare city Platform. It is comprised of four physical oil paintings, an animation comprised of 318 hand-drawn images, and five corresponding Bitcoin NFTs with Bitcoin token Certificate of Authenticity (COA), according to the announcement.

Mining News

  • bitcoin miner Iris Energy Limited announced the closing of an additional $71 million equipment financing facility between a wholly owned subsidiary of Iris Energy and a subsidiary of the bitcoin company NYDIG. The installation is secured by 19,800 Bitmain S19j Pro miners, with 1.98 EH/s, they added.

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