A bunch of ape NFTs just sold for $24.4 million

If you thought NFT mania was about to die off, think again: a bundle of 101 NFTs from Bored Ape Yacht Club just sold at Sotheby’s for $24.4 million. A second bundle of 101 Bored Ape Kennel Club NFTs sold for $1.8 million. That puts the ape sale among the biggest in the NFT space. A bundle of nine CryptoPunks — one of the earliest NFT projects — sold for $16.9 million in May. And Beeple sold a collage of his works as an NFT for $69 million in March. While it’s hard to directly compare all of these sales (there are 101 items in today’s auctions versus one in Beeple’s), the purchases show that the appetite for NFT art isn’t dying down, and they suggest that buyers think there’ll be high resale value as the market continues to grow.

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Tesla CEO Elon Musk says U.S. government should avoid regulating crypto

Tesla CEO Elon Musk on Tuesday said the U.S. government should steer clear of trying to regulate the crypto market. “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in Beverly Hills, California.

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Crypto is helping faster-growing economies build financial rails

Developing economies are once again leapfrogging prior waves of technological innovation with the help of cryptocurrency. Much like the way consumers in India and Indonesia a decade ago skipped landlines for cellphones, institutions in Africa are embracing the advancements in crypto over alternatives offered by the traditional plumbing of the global financial system.

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China’s cryptocurrency ban: What it means for Bitcoin, Coinbase and the US

The epicenter of Bitcoin mining has called it quits. On Sept. 24, China’s Central Bank declared all crypto-related transitions illegal, citing concerns about gambling fraud and money laundering. The move sparked a sharp drop in markets; some investors raced to dump their holdings, and the price of Bitcoin fell nearly 10% after the announcement, before quickly regaining some lost ground.

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A new partnership between Bitpay and Verifone could allow you to soon buy pizza with cryptocurrency

Buying pizza with dogecoin or litecoin might soon be possible. A new partnership between crypto payments processor BitPay and Verifone, the maker of credit card readers, is aiming to allow customers to use their cryptocurrency to pay for products later this year, according to a Tuesday press release. “If they decide to buy a pizza with Visa or AmEx or crypto, we don’t care,” Mike Pulli, chief executive officer of Verifone, told Bloomberg in an interview. “We just want to give them the flexibility to pay the way they want to.”

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Twitter Adds Bitcoin Tipping, Pushes Further Into NFTs

Twitter Inc. will let users send and receive tips using Bitcoin as part of a broader push to help users make money from the service. Twitter also said Thursday that it’s looking into authenticating users’ nonfungible tokens — digital goods ranging from high art to pictures of digital apes. Some users already showcase NFTs on their profiles, but there’s no easy way to authenticate if the person displaying a picture actually owns it.

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Crypto Veteran Says Non-Fungible Tokens Will Drive The Future

William Quigley, a co-founder of stablecoin “Tether” and a pioneer in the cryptocurrency space, sees the metaverse as a huge economic force that’s going to change people’s lives significantly in coming years. Mr Quigley is a co-founder of the Worldwide Asset eXchange or WAX, a carbon-neutral proof-of-stake blockchain that specialises in areas like non-fungible tokens (NFTs) and video games. The metaverse, a vision of an internet-enabled virtual world where people have avatars and interact with digital assets and even corporeal objects with augmented reality, is developing rapidly as blockchain technology evolves.

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Goldman Crypto Report Shows Exchange Tokens, Proof-of-Stake Assets Outperforming

Exchange tokens and digital assets associated with proof-of-stake blockchain networks have outperformed the broader cryptocurrency market since the end of 2019, while privacy-focused digital tokens have underperformed, Goldman Sachs wrote in a new report. “As the market matures, monitoring crypto’s market segments may help determine which network features investors are rewarding, as well as the prospect for practical applications of the technologies,” Zach Pandl, Goldman’s co-head of foreign-exchange strategy, and analyst Isabella Rosenberg wrote Wednesday in the report.

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Uniswap has now generated more than $1B in fees for liquidity providers

Leading decentralized exchange, Uniswap, has become the first DeFi protocol to generate more than $1 billion worth of platform fees for liquidity providers. On August 10, Lucas Outumuro, head of research at crypto data aggregator IntoTheBlock, shared a chart to Twitter showing that the combined fee revenues of Uniswap’s v2 and v3 Ethereum mainnet deployments have surpassed $1 billion. Including the fees generated by both Uniswap v1 and its v3 deployment on Optimism, Outumuro notes that roughly $1.02 billion has been distributed to Uniswap liquidity providers since the protocol’s creation in November 2018.

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India Considering Phased Roll Out of Central Bank Digital Currency

India’s central bank is considering launching a digital currency, according to a top executive, giving a clear indication of its intentions for the first time after previously stating that it was studying the idea. T Rabi Sankar, the deputy governor of Reserve Bank of India, said at a conference today that the central bank is considering introducing the nation’s digital currency in a “phased” manner while legal changes are made to the South Asian nation’s foreign-exchange rules and IT laws. The digital currency, which will be backed by sovereign, will lower the economy’s reliance on cash, enable cheaper and smoother international settlements, and protect people from the volatility of privacy cryptocurrencies.

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