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Zimbabwean Minister wants citizens to embrace Bitcoin, Ethereum burns $1 billion worth of ETH post-London By BTC Peers


© Reuters Weekly Roundup: Zimbabwean Minister wants citizens to embrace Bitcoin, Ethereum burns $1 billion worth of ETH post-London


  • Zimbabwe’s Finance Minister urged citizens to embrace Bitcoin payments.
  • The El Salvadoran government has decided to exempt all foreign investors from taxes in order to make it a safer haven for crypto activities.
  • MicroStrategy, a business intelligence company, has spent $242 million more on Bitcoin.
  • US Democrats are proposing a tax change that will allow cryptocurrency to be included in wash sale rules. This would mean investors pay higher capital gains taxes and lower dividend taxes.
  • One of the Big Four consulting multinationals, Ernst & Young, has opted to adopt Polygon to scale its blockchain product on Ethereum.
  • Magnum Real Estate Group, based in New York, is open to accepting a $29 million Bitcoin payment for its Manhattan luxury residence project.
  • China’s Hebei province has joined other regions to clamp down on Bitcoin mining activities.
  • The number of new Ethereum addresses created in 2021 has grown to about 23% of the network’s entire wallet addresses.
  • The rate at which Bitcoin adoption has increased in Africa over the last year is 1200%. Bitcoin payments have been on the rise thanks to companies such as Coinspaid (NASDAQ:), and PayPal (NASDAQ.
  • More than 500,000 users have downloaded El Salvador’s Bitcoin Chivo wallet.
  • One Swiss Forex bank predicted that Bitcoin would reach new heights by the middle of November.
  • Since Ethereum’s London fork went live, the network has burned over $1 billion worth of ETH.
  • As the election nears, a top Canadian politician expressed his support for Bitcoin.
  • Recent research shows that about 25% of South Africans own Bitcoin.
  • El Salvador is now home to the third most Bitcoin ATMs in the world, just behind Canada and the United States. On the flip side, the country’s Court of Accounts will begin an investigation into the government’s Bitcoin purchase.

Other News

  • H3RO3S, a play-to-earn game set to launch on the Binance Smart Chain (BSC), has raised $1.1 million from various crypto funds, including DCI Capital.
  • TOMI’s token sale raised $1.5million.
  • An attacker broke into one of DeFi protocol Zabu’s pools and stole $3.2million. Similarly, about $3 million was stolen from SushiSwap’s MISO platform.
  • Gary Gensler (SEC Chair) stated that most cryptocurrency, even stablecoins are securities. Tether, and other stablecoins have been deemed a serious concern by the US Treasury.
  • South Korea’s crypto taxation law may not come as soon as 2022 as the ruling Democratic Party mulls over passing a bill to delay crypto taxes.
  • SkyBridge Capital is looking to create a crypto ETF, but the US SEC still hasn’t given any indications.
  • US regulators plan to examine Binance in relation to possible insider trading or price manipulations.

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