NEW DELHI: Here is the daily roundup of news around cryptocurrencies that you should be aware of. Crypto attracts more money in 2021 from VCs than all previous years combined
Cryptocurrencies have attracted about $30 billion in 2021, more than in all previous years combined, reported Bloomberg
. That’s almost quadruple the previous high of around $8 billion in 2018, or the year following Bitcoin’s more than 1,300 per cent breakthrough gain, according to transaction data compiled by PitchBook Data. RBI reiterates that it favours complete ban on cryptocurrency
The Reserve Bank of India (RBI) has conveyed to its central board that it favours a complete ban on cryptocurrencies. A detailed presentation made to the board highlighted “serious concerns” relating to macroeconomic and financial stability as well as exchange management. Economic Times
has more on this report. Adidas Originals sold $23 million in first NFT drop
German sportswear giant Adidas Originals has earned $23.5 million by selling 30,000 of its “Into the Metaverse” non-fungible tokens (NFTs). The NFTs will provide access to virtual wearables for blockchain-based gaming world the sandbox, plus matching physical products for NFT owners in 2022. The company earned 5,924 Ethereum (ETH), and each NFT costed 0.2 ETH. Adidas made the NFTs in partnership with Bored Ape Yacht Club, Punks Comics, and GMoney. More on that here
. Melania Trump’s NFT venture
You can now own a digital watercolor painting of Melania’s Trump’s eyes in exchange for a cryptocurrency token. The former first lady launched a venture this week selling NFTs, or non-fungible tokens, on her website in exchange for a Solan token, currently valued around $180 each. Trump will release NFTs “in regular intervals” on her website with a portion of the proceeds going to foster children. It’s unclear what percentage of the proceeds will be donated, or whether the donations will be given to specific foster child-related charities. Non-fungible tokens are essentially digital certificates of authenticity that can be attached to art, music or any other type of digital file.
Her first NFT offering is titled Melania’s Vision (2021). It is a watercolor of the former First Lady’s eyes by French artist Marc-Antoine Coulon. In an Instagram post, the artist said, “I am very glad and honored to collaborate in this operation with Mrs. Melania Trump
. This collaboration has taken place under the best possible auspices with full artistic confidence and with great efficiency and understanding on both sides of the common expectations for such a charitable operation.” 17 duped of Rs 38 lakh in crypto ponzy scheme
Two persons from Surat allegedly cheated 17 people of Rs 38 lakh by floating a ponzi scheme involving cryptocurrency. The duo also created a portal ‘cybertron.live’ and made people sign smart contracts. The accused told people to invest in Tron, a cryptocurrency, paid them 2% return per day in their digital wallet. So, in a way the investment tripled in 150 days. They asked the investors to find others like them to triple their investment instantly and earn an additional 10% commission. The 17 victims of the scheme had invested Rs 52.20 lakh over and they got back only Rs 13.90 lakh through various bank transfers, cash and angadiya. Times of India has more details here Myanmar’s shadow govt declares Tether as official currency
Tokyo’s biggest finserv firm, SBI Group, will now allow Japanese investors to purchase cryptocurrencies via its newly launched crypto-asset fund. The fund is composed of seven cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Chainlink and Polkadot.
Myanmar’s shadow government has declared the use of Tether (USDT), a US dollar-pegged stablecoin, as official currency, while the US SEC has delayed the decision on Bitcoin ETFs in the US to early February.