Cryptocurrency has taken the world by storm; the ever-growing digital community is seeing more people turning to digital currency to grow and manage their finances—especially as it becomes a more accepted payment method. Crypto has been used as a way for people to transact globally without the hassle of having to go through traditional banking channels.
From the top cryptocurrencies having their market value plummet, Cenfura Nigeria bringing sustainable energy to Africa, and NFT’S becoming more popular than ever, a lot has happened in the crypto world– here are this week’s top highlights.
U.S. Government Holds Hearing to Address Crypto Mining
The United States government’s House Committee on Energy and Commerce’s Subcommittee on Oversight and Investigation held a hearing to discuss concerns about the energy impact of blockchain and cryptocurrency mining. The hearing entitled “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains.” focused on ways to curb the environmental damage that crypto mining has.
Cenfura Nigeria to Provide 5 Million Solar Powered Connections
Cenfura Nigeria has begun its journey to provide 5 million solar connections to the people of Nigeria. The company recently confirmed an agreement with the Nigerian Federal Ministry of Power–in conjunction with the Bauchi State Ministry of Power, Science, and Technology. The company will be responsible for the design, funding, and implementation of the solar connection solution. Along with much needed energy, the Cenfura platform provides a blockchain-based decentralized payment solution utilizing the XCF token which allows for fast and efficient digital payments. Furthermore, Cenfura Nigeria will work closely with the Nigerian Federal Ministry of Power to provide the necessary statistics and information pertaining to the development, employment creation, power production, savings, and emission reductions.
Twitter Blue Launches NFT Profile Pictures
Twitter Blue– the social media platform’s monthly subscription that provides users access to exclusive premium features and app customizations, has confirmed the launch of NFT profile pictures on iOS devices. The new feature will now allow users to connect their cryptocurrency wallets and display their NFTs as profile pictures. Other app users will then be able to tap on the NFT profile picture to find out more about the project and view all relevant metadata.
Samsung Incorporates Blockchain to Address Climate Change
The tech giants started the initiative to encourage the planting of trees in Madagascar. The project will be tracked using distributed ledger technology. Samsung’s environmental-based action plan focuses on sustainability. Aiming to reduce the amount of carbon dioxide (CO2) from the atmosphere.
The Mayor of New York City Set to Receive First Cryptocurrency Paycheck
Last year, mayor Eric Adams pledged to receive his first three paychecks in digital currency. His first paycheck had been converted to both Bitcoin and Ethereum. Adams’s willingness to honor his pledge is in keeping with his belief that New York City should become the global capital for cryptocurrency.
Blockbuster Plans a Crypto and NFT Revival
Blockbuster has filed a trademark application with the U.S. Patent and Trademark Office to issue a digital token and become a part of the NFT marketplace and Metaverse world. The move could become a matter of concern for companies such as Netflix Inc.
Bitcoin Contributions Fund $1.4M Solar Installation in Zimbabwe
The Nhimbe Fresh project, located in Zimbabwe, has funds totally to an estimated $1.4 million worth of solar cells. Over 1,905 individuals across 98 countries contributed to purchasing these cells, with the majority of transactions being in bitcoin.
Bitcoin and Ether Drop to 6-Month Low Due to Market Crash
The prices of Bitcoin and Ether have dropped to their lowest points since July last year– having lost almost half their value since achieving record-breaking highs at the end of 2021. The Federal Reserve is credited to have triggered the crypto sell-off when it specified that it might contest inflation by moving quicker to eradicate pandemic-era stimulus as well as the rising interest rate. The market has been in a decline since it reached highs of over $3 trillion in November last year, and since then, more than $1 trillion has been lost in the weeks since.
WEPOWER Partners with Kiva to Provide Zero-Interest Loans
Non-profit organization WEPOWER, in partnership with Kiva, is working together to get underserved entrepreneurs zero-interest loans. The project is set to counter pandemic-related struggles for minority business owners. The venture will aim to encourage entrepreneur development.
Premier League Clubs Looking to Launch NFTs
All 20 clubs in the Premier League are discussing the possibility of launching NFTs, according to claims by the chief executive of a sports crypto consultancy. Tim Mangnall, the CEO of Capital Block, is currently providing advice to leading clubs on how they can move forward with the launch of NFTs for their fans.
South Africa Looks to Regulate Cryptocurrency
Formal guidelines are expected to be introduced by the end of 2022. said Marius Reitz, general manager of Luno for Africa, said, “Globally, we have seen moves to regulate crypto, and we anticipate the introduction of a clear South African regulatory regime likely by the end of 2022. Regulatory certainty will have a host of positive spin-offs for the crypto sector,”
Kim Kardashian and Floyd Mayweather Sued Over Alleged Crypto Scam
Kim Kardashian and Floyd Mayweather are accused of artificially inflating the price of the EthereumMax digital token. Reports say that the celebrities made “false or misleading statements” about the token in paid social media posts. The currency had lost 97% of its value, with investors labeling it as a “pump and dump” scheme.
Elon Musk and McDonald’s Engage in Twitter Conversation Over Crypto Payments
Elon Musk tweeted, “I will eat a happy meal on tv if @McDonalds accepts Dogecoin.” The food chain responded, stating that it would only do so if Tesla also accepted “Grimacecoin”– a then-non-existent currency. However, since the tweet, multiple cryptocurrencies began trading under the name Grimacecoin– on various blockchains.
Powerledger Presents at the GBBC’s Central Davos
Co-Founder and Chairman Powerledger, Dr. Jemma Green, presented at the panel discussion on “The Future of Tech-Enabled Sustainability,” – focusing her talk on the ability of blockchain to provide effective solutions for the transition of clean energy. Dr. Green mentioned that feed-in tariffs as an incentive for renewable energy caused the enormous uptake of renewables.
The Sandbox Launches Metaverse Accelerator of $50M
Ethereum-based crypto game The Sandbox has committed to investing $50 million in up to 100 startups. This is to build towards an interoperable, open metaverse. In the next three years, the program will expand across the wider crypto ecosystem– working with around 30 to 40 startups per annum.
Facebook’s Cryptocurrency Venture to Impact Tech Assets
Meta Platforms Inc’s digital currency venture is reportedly currently in the process of selling its technology to Silvergate Capital Corp for an estimated $200 million. The move comes after Facebook’s financial technology executive David Marcus, left the company.
Tesla Bitcoin Holdings Unchanged in Fourth Quarter
The value of Tesla’s Bitcoin holdings remained unchanged from the end of the company’s previous quarter at $1.26 billion. Tesla had not purchased or sold any Bitcoin in the quarter. In Q3, the company reported a $51 million impairment–reflecting the decline in the price of the cryptocurrency.
SEC Puts Major Crytpo Firms Under Scrutiny
Cryptocurrency firms Voyager Digital Ltd., Celsius Network, and Gemini Trust Co. are under the close watch of the U.S. Securities and Exchange Commission as part of a broader inquiry into companies that have been paying interest on digital token deposits.
Lamborghini’s NFT Scheme to Include Real-World Space Treasures
The supercar company is aiming to join the digital and physical world for its crypto offering- partnering with NFT PRO and R.M. Sotheby’s to auction off five pairs of linked digital and physical art on the automaker’s NFT site. These physical objects should hold value due to having gone into space– as part of the human space exploration theme.
Energy Web Token is Down over the Past Month
Along with Bitcoin and Ether, Energy Web Token has seen a decline in token value over the past month. Overall, the Bitcoin price has been trading in an unfavorable zone—below the USD 38,000 level. If BTC remains under USD 36,500 and USD 38,000, the chance of further losses is great.
With the world now focusing more on digital formats, it is safe to assume that cryptocurrency may be the financial future of the globe. With the likes of Elon Musk and the President of Russia having strong opinions on the digital currency– to Cenfura using blockchain to make a difference in the world—it seems as if crypto growth will continue.