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

Bitcoin & Ethereum

• Zimbabwe’s Finance Minister urged citizens to embrace Bitcoin payments.
• In a bid to become a safe haven for cryptocurrency activities, the El Salvadoran government will exempt foreign investors from paying taxes on their Bitcoin profits.
• Business intelligence firm MicroStrategy splashed another $242 million on Bitcoin.
• A new tax initiative proposed by US Democrats could see cryptocurrencies added to the wash sale rules, with investors paying more on capital gains and dividend taxes.
• One of the Big Four consulting multinationals, Ernst & Young, has opted to adopt Polygon to scale its blockchain product on Ethereum.
• New York-based Magnum Real Estate Group is willing to accept a payment of $29 million in Bitcoin for a luxury residential project in Manhattan.
• 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.
• Over the past year, the rate of Bitcoin adoption in Africa has grown by 1200 percent. Speaking of adoption, Bitcoin payments are on the rise, with companies like PayPal (NASDAQ:PYPL) and Coinspaid taking the lead.
• More than 500,000 users have downloaded El Salvador’s Bitcoin Chivo wallet.
• A Swiss forex bank has predicted that Bitcoin could set a new high by mid-November.
• Since Ethereum’s London fork went live, the network has burned over $1 billion worth of ETH.
• A top Canadian politician has voiced his support for Bitcoin as election draws close.
• According to a recent study, about 25 percent of South Africans hold Bitcoin.
• El Salvador now has the third-largest number of Bitcoin ATMs, behind the United States and Canada. On the flip side, the country’s Court of Accounts will begin an investigation into the government’s Bitcoin purchase.

• 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 raised over $1.5 million from its token sale.
• $3.2 million has been stolen from DeFi protocol Zabu after an attacker managed to gain entry into one of its pools. Similarly, about $3 million was stolen from SushiSwap’s MISO platform.
• According to SEC Chair Gary Gensler, most cryptocurrencies, including stablecoins, are securities. Meanwhile, the US Treasury has said that Tether and other stablecoins are a significant concern.
• 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 wants to launch a crypto ETF but so far, the US SEC has not given any positive clues.
• US regulators are looking to probe Binance over possible insider trading and price manipulations.

Continue reading on BTC Peers