Weekly Report (09 – 15 Oct. 23) | What Happened This Week In Crypto

This Report will provide some essential and quick news about cryptocurrencies happening worldwide.

1) Ferrari Is To Start Taking Cryptocurrency In The United States And Is Looking To Expand Into Europe

In the United States, luxury sports car manufacturer Ferrari has begun to accept cryptocurrency payments. Enrico Galliera, Ferrari’s chief marketing and commercial officer, told Reuters that the company is making the change because a large percentage of its customers own digital currency, according to a CNBC unit published earlier today…[continue reading]

2) Cardano’s First Stablecoin Backed By Real Money USDM Close To Launch

Mehen is making progress on releasing USDM, Cardano’s first fiat-backed stablecoin. Mehen Protocol, the team behind Cardano’s first fiat-backed stablecoin USDM, recently discussed the project’s development, technological progress over the previous year, regulatory landscape exploration, and upcoming launch…[continue reading]

3) The Crypto Assets Held By The Celsius Network Have Been Transferred

In light of its continuing legal fights and promises to repay its consumers, the bankrupt crypto lending business Celsius Network has just shifted its crypto assets. Crews claimed that the 695,658,160 CEL tokens now in circulation were nearly entirely comprised of tokens transferred by the defunct cryptocurrency lender. Since only 238,863,520 of these tokens are now in circulation, this also proves that the business has transferred unsold tokens…[continue reading]

4) The Former Governor Of The People’s Bank Of China Has Said That China Must Take Measures To Avoid CBDC Misuse

China’s former central bank governor Zhou Xiaochuan warned on Thursday in Beijing that the country must pay particular attention to security throughout the development and testing of the CBDC. Former Chinese central bank governor Zhou Xiaochuan has stressed that safeguarding the currency, keeping expenses low, and preventing misuse are all crucial as China creates its own central bank digital money…[continue reading]

5) IOG Struggles To Counter Cardano’s Late-Night Attacks

The exciting Midnight inauguration of IOG and Charles Hoskinson has left the community with many unanswered concerns. The community’s opinions were varied and full of questions despite Hoskinson’s engaging presentation. Cardano’s Midnight, a privacy-focused sidechain, has made its debut on the DevNet and is now ready to welcome a select set of developers and testers to explore its wealth of cutting-edge capabilities…[continue reading]

6) Central Bank Of Nigeria Says ENaira Poses No Danger To The Country’s Financial System

In reaction to “news items on some media platforms,” the Central Bank of Nigeria released a press statement denying that the eNaira poses a danger to the country’s economy. As one of the world’s first functioning central bank digital currencies (CBDC), the eNaira project required public reassurances from the Central Bank of Nigeria (CBN) that it would not compromise Nigeria’s economic security…[continue reading]

7) Brazil Has Leveled Serious Accusations Against Binance

Binance reportedly transferred $791.7 million USD with no regulatory monitoring, according to a Brazilian house investigation. Several firms founded by Binance CEO Changpeng “CZ” Zhao in Brazil have been accused of being fronts for a fraudulent pyramid scheme, according to a Brazilian congressional investigation…[continue reading]