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CRYPTO NEWS [A New Law In Kenya Aims To Tax Cryptocurrency Merchants' Revenue](https://cryptocrunchapp.com/news/a-new-law-in-kenya-aims-to-tax-cryptocurrency-merchants-revenue) Kenya is the recent nation to signal its intention to regulate the crypto market, focusing on taxing digital currency transactions as the sector grows. Currently, Kenya's crypto market is largely unregulated and 4 million investors have lost money as a result of the bear market. When the specific assets are either sold or employed in a transaction, the proposed regulation attempts to impose capital gains for the higher market value of the crypto.
CRYPTO NEWS [As Revealed By Coinbase Custody, Grayscale Possesses 635K BTC](https://cryptocrunchapp.com/news/as-revealed-by-coinbase-custody-grayscale-possesses-635k-btc) Following recent ambiguity surrounding the Grayscale Bitcoin Trust's future, its custodian partner Coinbase published a report outlining the assets held on the trust's behalf. The trust owns 635K Bitcoin, which is worth about $10 billion. The amount would have been more in line with $43.8 billion at the height of the bull market. Grayscale also has 3,056,833 ETH in the Greyscale Ethereum Trust, which is worth $3.3 billion.
CRYPTO NEWS [With A New Investment, Binance Enters The Hardware Wallet Market](https://cryptocrunchapp.com/news/with-a-new-investment-binance-enters-the-hardware-wallet-market) With an investment in the cold wallet platform Ngrave, the crypto exchange Binance is moving into the hardware wallet market. Binance Labs has led the upcoming Series A round of funding for the Belgian hardware wallet company Ngrave and has made a strategic investment in the company. The hardware wallet market has seen rapid growth as a result of the current crypto winter, which has left many centralized crypto exchanges scrambling to keep operating.
#BTC
Mining cost
#BITCOIN
CRYPTO NEWS [Despite The Current Crisis, New York Mayor Sees Cryptocurrency As A Incredible Opportunity](https://cryptocrunchapp.com/news/despite-the-current-crisis-new-york-mayor-sees-cryptocurrency-as-a-incredible-opportunity) According to a story published recently, despite the continuous market unrest, New York Mayor Eric Adams continues to believe in crypto. Since the FTX exchange failed, Bitcoin and other cryptocurrencies have experienced severe crises. But still, crypto, in Adams' opinion, represents an incredible opportunity. The 62-year-old congressman called "shortsighted" those who assert that recent down markets inhibit crypto's growth.
Halving rallies
CRYPTO NEWS [Amid Sanctions, Russia And Cuba Are Looking To Cryptocurrencies For Settlements](https://cryptocrunchapp.com/news/amid-sanctions-russia-and-cuba-are-looking-to-cryptocurrencies-for-settlements) Russia and Cuba, who are both subject to sanctions, are looking into alternative methods of making cross-border payments, such as crypto. Moscow is already working on a system for crypto payments that will allow it to get around the financial sanctions imposed as a result of its invasion of Ukraine. In light of the restrictions imposed on both countries, the governments of Russia and Cuba wants to use Russian rubles and crypto to promote bilateral collaboration.
CRYPTO NEWS [Launch Of VeChain's Historical Upgrade Is Announced](https://cryptocrunchapp.com/news/launch-of-vechains-historical-upgrade-is-announced) With a flawless fork from the mainnet and the addition of "finality" to VeChainThor, the VeChain Foundation has declared what it refers to as "a new era" as the concluding phase of PoA 2.0. The VeChain mainnet has also created the first finalized block, which is a significant development for the blockchain. The team claimed that VeChain will now offer the ideal platform for sustainability, both in terms of energy consumption and actual change.
Like metamask [Trust Wallet Introduces An Extension For The Browser, Integrating Coinbase And Binance Pay](https://cryptocrunchapp.com/news/trust-wallet-introduces-an-extension-for-the-browser-integrating-coinbase-and-binance-pay) Trust Wallet released its browser extension on November 14; it is presently accessible in Opera and Google Chrome. Across all EVM chains and Solana, the plugin enables users to store, send, and receive cryptocurrency. Trust Wallet is expanding as a result of FTX's demise and the wider bank run on crypto exchanges. The startup cooperated with Binance Pay and Coinbase Pay, whose users may now transfer their funds directly to a Trust Wallet account.
CRYPTO NEWS [Abu Dhabi's Regulatory Authorities Approve Binance's Institutional Cryptocurrency Custody](https://cryptocrunchapp.com/news/abu-dhabis-regulatory-authorities-approve-binances-institutional-cryptocurrency-custody) Binance has obtained authorization from Abu Dhabi officials to function as a crypto custodian for institutional clients. The Financial Services Regulatory Authority of Abu Dhabi approved the cryptocurrency exchange for regulation. This organization is a part of the Abu Dhabi Global Market, which serves as the financial hub of the capital city of the United Arab Emirate. The exchange behemoth also received licensing permission from Dubai, the business hub of the United Arab Emirates.
CRYPTO NEWS [Sony Submits A Patent For NFT-based In-game Asset Tracking](https://cryptocrunchapp.com/news/sony-submits-a-patent-for-nft-based-in-game-asset-tracking) According to recently made public records, global entertainment giant Sony submitted a patent application in 2021 for a system that uses blockchain technology, more specifically NFTs, to track digital assets in video games. On November 10, 2022, the patent became public. Sony cites the widespread appeal of gaming and the desire of gamers to own special items inspired by their favorite personalities, pastimes, and esports champions.
CRYPTO NEWS [Blockchain Is Used By The UAE Regulator To Expedite Commercial Verdicts](https://cryptocrunchapp.com/news/blockchain-is-used-by-the-uae-regulator-to-expedite-commercial-verdicts) Blockchain technology has been implemented by a judicial body formed by United Arab Emirates (UAE) Federal Decree to reduce the time and expenses associated with the enforcement of business decisions. Blockchain technology has been adopted by ADGM Courts, a body that supports the financial regulator Abu Dhabi Global Markets (ADGM), to help the parties in the legal process save a lot of time and assessing different financial risks and handling commercial issues.
CRYPTO NEWS [The Consumer-driven Metaverse Of Entertainment Is Predicted To Grow To Around $29 Billion](https://cryptocrunchapp.com/news/the-consumer-driven-metaverse-of-entertainment-is-predicted-to-grow-to-around-29-billion) Market research firms are still actively investigating the metaverse and how it will be used in the future. According to a report published on Nov. 11 by market research company Technavio, the market for entertainment-related metaverse efforts would increase to $28.92 billion between 2021 and 2026. According to the analysis, the union of gaming and film industries will cause 33% of this growth to come from U.S. markets.
TRADING DECISIONS
CRYPTO NEWS [Cathie Wood Purchased $100,000 Worth Of Bitcoin At $250 And Has Never Sold It](https://cryptocrunchapp.com/news/cathie-wood-purchased-100000-worth-of-bitcoin-at-250-and-has-never-sold-it) Cathie Wood, CEO of ARK Investment Management, claimed she bought $100,000 worth of bitcoin (BTC) when it was trading at about $250. She added that none of the initial investment had been sold, so her current profit on the $100,000 wager would be about $7.6 million. Also, ARK doesn't have a direct Bitcoin investment but was eventually able to gain exposure to bitcoin through the Grayscale Bitcoin Trust.
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CRYPTO NEWS [Vitalik Buterin of Ethereum Gives the Dogecoin Foundation Yet Another Donations](https://cryptocrunchapp.com/news/vitalik-buterin-of-ethereum-gives-the-dogecoin-foundation-yet-another-donations) Twenty million Dogecoin (DOGE) have been given to the Dogecoin Community by Ethereum co-founder Vitalik Buterin. Buterin has made other contributions before this one like 500 Ethereum (ETH) that the Canadian programmer gave to the foundation. After Ethereum's much-anticipated Merge update was successfully executed in Sept, Buterin said that Dogecoin should follow suit and adopt the proof-of-stake consensus mechanism.
CRYPTO NEWS [Elon Musk Believes Bitcoin Will Bounce Back But Cautions The Crypto Winter Will Last Long](https://cryptocrunchapp.com/news/elon-musk-believes-bitcoin-will-bounce-back-but-cautions-the-crypto-winter-will-last-long) Elon Musk has increased his support for BTC, despite the that the flagship cryptocurrency breaching the $20,000 mark with additional decline. Musk, in response to the tweet from Jason Calacanis who questioned the prospects for Bitcoin's growth after it dropped from $69,000 a year earlier, said that Bitcoin will bounce back but cautious that it would take a long crypto winter before the asset realizes its full potential.
CRYPTO NEWS [Binance Establishes An Industry Recovery Fund To Aid Projects Facing Liquidity Challenges](https://cryptocrunchapp.com/news/binance-establishes-an-industry-recovery-fund-to-aid-projects-facing-liquidity-challenges) The crypto exchange Binance is setting up a fund to assist potentially strong projects that are experiencing liquidity challenges as the consequences of the FTX crisis continue to negatively impact the markets. The fund, according to Binance CEO Changpeng Zhao in a tweet, attempts to lessen the bad impacts of FTX's crash by assisting projects that are strong, but in a liquidity crisis. He also encouraged other industry participants who were interested in co-investing to contact them.
CRYPTO NEWS [CBDC Consumer Survey Is Launched By The Zimbabwean Central Bank](https://cryptocrunchapp.com/news/cbdc-consumer-survey-is-launched-by-the-zimbabwean-central-bank) The Zimbabwean central bank has announced that it is conducting a CBDC Consumer Survey to get feedback on the features and functionality of the CBDC as well as the general level of public approval. The bank states that Zimbabwean citizens must finish the process by December 7, 2022, at the latest. Only a few months after the RBZ announced it would release a paper to launch a public consultation process, the consumer survey has officially begun.
CRYPTO WALLETS
CRYPTO NEWS [Biggest Oil And Gas Businesses In The World, Shell Enters the Bitcoin Mining Business](https://cryptocrunchapp.com/news/biggest-oil-and-gas-businesses-in-the-world-shell-enters-the-bitcoin-mining-business) Shell, one of the biggest oil and gas businesses in the world, wants to provide cooling and lubricating products to Bitcoin (BTC) miners. The company signed a two-year partnership with Bitcoin Magazine, the conference's organizer, and will sponsor it in 2023 and 2024. Shell representatives will be present at the conferences and will speak on the mining stage about how Shell's lubricant and cooling solutions can reduce the energy costs associated with bitcoin mining.
CRYPTO NEWS [Despite The Volatile Market, Cathie Wood's ARK Adds $12.1 Million In Coinbase Shares](https://cryptocrunchapp.com/news/despite-the-volatile-market-cathie-woods-ark-adds-12-million-in-coinbase-shares) The Cathie Wood-led Ark Investments has expanded its Coinbase stock holdings amid the turmoil on the FTX and cryptocurrency markets by purchasing 237,675 Coinbase shares for around $12.1 million. Ark Investment Management added 207,527 shares to its ARK Innovation exchange-traded fund, 22,416 shares to its ARK Next Generation Internet ETF (ARKW), and an additional 7,732 shares to its ARK Fintech Innovation ETF from the 237,675 Coinbase shares.
BINANCE RESERVE
True
CRYPTO NEWS [Binance Posts Wallet Addresses And Information About Recent Holdings](https://cryptocrunchapp.com/news/binance-posts-wallet-addresses-and-information-about-recent-holdings) The biggest crypto exchange in the world, Binance, has made its hot and cold wallet addresses public and will soon reveal information about its financial standing. It gave a brief overview of its holdings at the time, which included roughly 475,000 BTC, 4.8M Ether, 17.6B USDT, 21.7B BUSD, 601M USDC, and 58M BNB. An additional nullB is kept in its Secure Asset Fund for Users, which it established in 2018 as an emergency insurance fund to shield users.
CRYPTO NEWS [After FTX's Collapse, Crypto Exchanges Will Release Proof-Of-Reserves](https://cryptocrunchapp.com/news/after-ftxs-collapse-crypto-exchanges-will-release-proof-of-reserves) To combat the contagion fears plaguing the crypto market, a number exchanges like Binance, Huobi, OKX, KuCoin have stated intentions to publicize their fund reserves. Binance CEO, says that Merkle-tree proof-of-reserves can be performed by crypto exchanges, noting that Binance would shortly begin this program in an effort to achieve complete transparency. He says that unlike financial companies, which function on fractional reserves, crypto exchanges shouldn't.
CRYPTO NEWS [With TradFi Giant, Galaxy Brings The Bitcoin ETF To Brazil](https://cryptocrunchapp.com/news/with-tradfi-giant-galaxy-brings-the-bitcoin-etf-to-brazil) In the most recent instance of crypto and TradFi coming together, Galaxy Digital has introduced a bitcoin ETF in Brazil through a collaboration with Latin America's largest private asset manager. The cryptocurrency unit has partnered with seasoned hedge fund company Itaú Asset Management in an effort to create a comprehensive lineup of physically backed cryptocurrency ETFs in Brazil. Its initial exchange-traded fund was scheduled to start trading on Thursday.
Crypto news [Polygon Network Has Added 43 Million Unique Addresses In Just 5 Months](https://cryptocrunchapp.com/news/polygon-network-has-added-43-million-unique-addresses-in-just-5-months) Despite the bear market, data collected from the Polygon network explorer PolygonScan on November 8 shows that Polygon has added 42,869,034 unique addresses to its chain between June 7 and November 7, 2022. This means that the data shows that the Proof-of-Stake (PoS) network grew by almost 30% over the course of five months, adding an average of over 280,000 unique addresses per day.
Crypto news [NTT Docomo, The Biggest Mobile Operator In Japan Will Launch A Web3 Association](https://cryptocrunchapp.com/news/ntt-docomo-the-biggest-mobile-operator-in-japan-will-launch-a-web3-association) To speed up the adoption of Web3 in the nation, NTT Docomo, the largest mobile provider in Japan with over $40 billion in annual revenue, teamed with multichain smart contract platform Astar Network. The collaborative initiative will take the shape of a consortium, enabling both people and businesses to use tokens for governance. The project's goal is to make Web3 accessible to a wider audience outside of a small group of tech-savvy individuals.
CRYPTO [Nigerian Presidential Candidate Adebayo Uses Cryptocurrency To Create 30 Million New Jobs](https://cryptocrunchapp.com/news/nigerian-presidential-candidate-adebayo-uses-cryptocurrency-to-create-30-million-new-jobs) One of the primary candidates for Nigeria's next president, Adewole Adebayo, pledged to create up to 30 million jobs for locals using blockchain technology and crypto as regards the major problem of unemployment rate facing the nation. Adewole Adebayo, the Social Democratic Party (SDP) presidential candidate in Nigeria, promised to use a variety of technologies, including blockchain and virtual currencies, to address the country's unemployment issues.
CRYPTO [Binance Has Started A nullMillion Football Fans Rewards Program](https://cryptocrunchapp.com/news/binance-has-started-a-1million-football-fans-rewards-program) All NFT and sports fans will be able to participate in an innovative campaign to support their preferred teams and compete for a portion of a nullM prize pool that includes tokens and limited-edition NFTs. The Binance team has announced that the "Football Fever 2022" initiative will begin on November 7, 2022. Web3 fans and lovers of international sports will be introduced to one another through a special community-driven event.
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🔹Tirupati's Lord Venkateswara temple's net worth of over Rs 2.5 lakh cr (about $30 billion) 🔹 It’s more than market capitalisation of XRP, BUSD, DOGE, SOL 🔹FUN FACT: 6th place in term of M.Cap in cryptocurrency 🔹 Temple also has Demat account to accept donations through shares of the company
CRYPTO [Litecoin Foundation Reports That The Mining Difficulty Is Increasing](https://cryptocrunchapp.com/news/litecoin-foundation-reports-that-the-mining-difficulty-is-increasing) On Friday, the mining difficulty of the network reached its high, suggesting heightened rivalry for miner payouts. The Litecoin Foundation stated that the mining difficulty for Litecoin has reached a new high, hitting at little under 18 million hashes. On Wednesday, the price of LTC rose 13% in a single day, most likely as a result of MoneyGram's report that US customers will soon be able to purchase, sell, and hold LTC, BTC, and ETH.
BITCOIN WHALES [Bitcoin Whale Moves A Massive null,583,709,890 Worth Of BTC](https://cryptocrunchapp.com/news/bitcoin-whale-moves-a-massive-$1583709890-worth-of-btc) A huge whale is moving more than one billion in Bitcoin, emptying several created crypto wallets. According to data from Blockchain.com, the wealthy investor recently withdrew funds from a crypto wallet that contained over 74,105 BTC, totaling over null.58 billion. Crypto whales are notable for moving about their enormous BTC hoards, which frequently begs the question of whether the owner is trying to sell their holds or just moving assets to hold longer.
BITCOIN
CRYPTO [As The Company's Financial Services Founder, Jack Ma-founded Ant Group Concentrates On Blockchain Technologies](https://cryptocrunchapp.com/news/as-the-companys-financial-services-founder-jack-ma-founded-ant-group-concentrates-on-blockchain-technologies) The Chinese billionaire Jack Ma formed Ant Group, which is shifting its business strategy by entering the blockchain market in response to ongoing regulatory pressure that has affected its banking services. The company has built a blockchain storage engine in particular with the goal of moving into the hard tech sector. Ant Group Digital Technologies introduced Letus to reduce the cost of storage for blockchain systems.
CRYPTO [Bitcoin Is A Good Hedge Against Bad Governance, According To Billionaire Tim Draper](https://cryptocrunchapp.com/news/bitcoin-is-a-good-hedge-against-bad-governance-according-to-billionaire-tim-draper) Tim Draper, a Bitcoin bull, doesn't seem to be less enthused about the digital currency despite the current down market. The billionaire claimed that his prediction that Bitcoin will reach $250,000 still stands even though he has extended it by six months. Draper asserted that by mid-2023, he's expecting to see BTC hit $250,000 while donning one of his BTC ties. He sees Bitcoin as a hedge against bad governance.
CRYPTO [Argentine Fintech Uala Introduces Trading For Bitcoin And Ether](https://cryptocrunchapp.com/news/argentine-fintech-uala-introduces-trading-for-bitcoin-and-ether) Customers in Argentina can now trade bitcoin (BTC) and ether (ETH) thanks to the fintech business Uala. According to Andres Rodriguez Ledermann, the new service will initially be accessible to a small number of users before being made available to the 4.5 million Argentine consumers of the company in the upcoming weeks. Withdrawals are not possible on the platform; only purchases and trades of cryptocurrencies are permitted.
Crypto [Google Cloud on Twitter](https://twitter.com/googlecloud/status/1588927875314499590) “Now that we got your attention... check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.”
Bitcoin standard
CRYPTO [NASDAQ Outpaced By Bitcoin After The Fed Increased Rates By 0.75%](https://cryptocrunchapp.com/news/nasdaq-outpaced-by-bitcoin-after-the-fed-increased-rates-by-075) BTC has outperformed "safer" assets like NASDAQ and behaved like Gold in price activity. Following the Fed's recent increase in interest rates by 0.75%, the values of the NASDAQ and gold have plunged. Market statistics shows that Gold is down 0.68% and NASDAQ is down 4.97%, both of which achieved year-to-date lows in the previous 40 hours while BTC is up 0.55% over the same time frame, meaning that BTC performs better than "safer" assets like NASDAQ.
CRYPTO [Japanese Digital Ministry Announced Creation Of Its Own DAO](https://cryptocrunchapp.com/news/japanese-digital-ministry-announced-creation-of-its-own-dao) The newly founded Digital Ministry of Japan has announced the formation of its own DAO, which will look into and decide whether to grant autonomous organizations legal status. By evaluating its own project, the new ministry will examine current issues in the recently formed structure. DAOs have gained popularity over the past two years as a result of their ability to bring together various social groupings in autonomous structures with decentralized governance.
Mastercard cryptocurrency accelerator [7 Blockchain Businesses Have Joined Mastercard's Cryptocurrency Accelerator](https://cryptocrunchapp.com/news/7-blockchain-businesses-have-joined-mastercards-cryptocurrency-accelerator) The leading provider of global payments, Mastercard, continues to assist blockchain and crypto businesses as part of its fintech accelerator, the Mastercard Start Path program which consists of Singapore's Digital Treasures Center and crypto gateway service Fasset. In order to encourage the adoption of crypto and blockchain tech, Mastercard has selected seven additional sector companies for its Start Path initiative, the company said on Nov. 3.
Supply & Demand [Laws of Supply And Demand Boosts The Prices Of Bitcoin (BTC) and Ethereum (ETH)](https://cryptocrunchapp.com/news/laws-of-supply-and-demand-boosts-the-prices-of-bitcoin-btc-and-ethereum-eth) Mike McGlone, senior commodity strategist at Bloomberg Intelligence, is optimistic about the top two cryptocurrencies by market cap, which are Bitcoin(BTC) and Ethereum(ETH), having their prices go up over time based on the law of their diminishing supply. According to McGlone in a recent interview, the two cryptocurrency assets' prices will rise as a result of the diminishing quantity of Bitcoin (BTC) and Ethereum (ETH) and rising adoption.
CRYPTO [Nifty's And Daz 3D Are Partners With Warner Brothers To Launch Game Of Thrones NFTs](https://cryptocrunchapp.com/news/niftys-and-daz-3d-are-partners-with-warner-brothers-to-launch-game-of-thrones-nfts) The non-fungible (NFT) market Nifty's and Warner Bros Discovery have teamed together to release a line of digital collectibles based on the well-known television series, Game of Thrones. With the help of the digital production business Daz 3D, the new collection, "Game of Thrones: Build Your Realm," will be designed, developed, and produced. The initial sales will start when Game of Thrones-themed avatars are released, according to Nifty's.
CRYPTO ADOPTION [CZ Offers Binance Pay As A Twitter Crypto Payments Alternative](https://cryptocrunchapp.com/news/cz-offers-binance-pay-as-a-twitter-crypto-payments-alternative) Binance has invested $500 million in Elon Musk's bid to acquire Twitter, with the goal of giving cryptocurrencies a seat at the table. The greater integration of the exchange and the social media platform now looks to be something that CZ is considering. Several hundred cryptocurrencies can be supported as payment methods quite easily and According to Zhao, there's already a product called Binance Pay that accomplishes that.