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Dimitar Dzhondzhorov



Articles by Dimitar Dzhondzhorov

Investors Shouldn’t Abandon Crypto Because of Terra’s Collapse, Says IMF’s Managing Director

May 24, 2022

According to Kristalina Georgieva – the Managing Director of the International Monetary Fund (IMF) – the recent fiasco with LUNA and UST should not become a reason for people to turn their backs on the cryptocurrency industry entirely. Unlike her previous statements, she praised the “faster service, much lower costs, and more inclusion” that the asset class provides.
Not all Digital Assets are the Same
Terra’s native token – LUNA – and its algorithmic stablecoin – UST – were undoubtedly the hottest topics in the crypto space this month. The former crashed to almost zero, while the latter lost its peg to the US dollar and is currently trading at about $0.06.
The event, combined with the significant price collapse of many other digital assets, caused a state of panic among

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Luxury Fashion House Balenciaga Accepts Payments in BTC and ETH (Report)

May 24, 2022

The French fashion brand – Balenciaga – will reportedly embrace cryptocurrencies as a payment method for its products. Initially, the offering will be available at the firm’s US shops on Madison Avenue in New York and Rodeo Drive in Beverly Hills, Los Angeles.
Balenciaga Catching the Crypto Wave
According to a recent coverage, Balenciaga will allow its American customers to buy clothes, shoes, bags, and other products using bitcoin and ether. Customers will also be able to pay in crypto when purchasing from the brand’s official website. The fashion house is expected to extend its offer to other regions and add more digital assets at some point in the future.
The recent decline of the cryptocurrency market might be an issue for numerous individuals and companies with

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Crypto Regulation is Among Australia’s New PM Primary Concerns (Report)

May 23, 2022

Australia’s newly-elected Prime Minister – Anthony Albanese – reportedly has three top issues to deal with it as the new leader of the country. These include battling climate change, reducing the cost of living, and imposing comprehensive rules on the cryptocurrency industry.
Crypto Included as a top Priority
The Australian Labor Party won the government elections and will try to guide the nation through the economically turbulent times ahead. For his part, the leader of the political group – Anthony Albanese – became the country’s next Prime Minister.
According to a Bloomberg report, the new cabinet will have three main issues to solve: climate change (massive fires and floods often ravage Australia), the galloping inflation (similar to many other countries, the cost of

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Christine Lagarde’s Son Is a Crypto Investor Despite Her Anti-Bitcoin Stance

May 23, 2022

The President of the European Central Bank (ECB) – Christine Lagarde – reiterated her negative stance on cryptocurrencies, claiming they are “based on nothing” and should be strictly regulated. Nonetheless, she revealed that one of her sons had distributed some of his wealth into the digital asset market.
Diving Into Crypto Despite Mom’s Advice
Numerous central bankers have criticized the cryptocurrency sector over the past few years. The French politician and the ECB’s President – Christine Lagarde – is undoubtedly part of that club.
In a recent interview, she opined that digital assets are “worth nothing” and are “based on nothing.” She further argued that investing in bitcoin and the altcoins could leave people “terribly disappointed” since the industry lacks proper

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SEC Chair Predicts Other Cryptocurrencies Will Mimic Terra’s Downfall and Harm Investors

May 19, 2022

The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – opined the turbulence in the digital asset market has not ceased with Terra’s fiasco. He predicted that a lot more coins will “fail,” which will harm an additional number of investors.
The Turmoil is Not Over Yet
The cryptocurrency market has significantly declined in the last few weeks. Bitcoin, for one, is down by over 25% in the past 14 days. However, all eyes were on Terra’s native token LUNA, which crashed from nearly $80 to less than a cent in a matter of days. The project’s algorithmic stablecoin UST lost its peg against the US dollar and is currently trading at $0.08, which many believe was the original source of the aforementioned crisis.
According to SEC’s Chair – Gary

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Africa Could Benefit Substantially by Adopting Crypto, Says Top Kenyan Financer

May 18, 2022

According to James Mwangi (CEO of Kenya’s largest banking conglomerate Equity Group Holdings), the African continent will significantly develop technologically and economically if it opens its arms to the digital asset industry. To do so, local authorities should cooperate with regulators, convincing them of crypto’s benefits.
Crypto Could be Africa’s Stepping Stone
In a recent interview for Bloomberg, Mwangi argued that the African countries should dive into the fourth industrial revolution to catch up with the rest of the globe. He believes cryptocurrencies are part of that transformation, and they can bring certain advantages to the domestic economy, such as “complement the mobile money:”
“Africa will benefit substantially from leapfrogging on the fourth industrial

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Fireblocks’ New Web3 Engine and Enterprise Tools to Aid NFT, DeFi Developments

May 18, 2022

The blockchain security service provider – Fireblocks – introduced a new Web3 Engine that will aid developers’ efforts to build NFT, DeFi, and GameFi products and services. Additionally, the platform enabled access to exchanges, decentralized applications, and non-fungible token marketplaces for capital market participants and alternative asset managers.
The New Fireblock Web3 Engine
According to a recent announcement, the platform’s new Web3 Engine will allow developers and companies to create infrastructure for dApps involving NFTs and decentralized gaming (GameFi). Fireblocks allows leading entities like Animoca, MoonPay, Stardust, Xternity Games, and Celsius to provide maximum protection against human error and cyber-attacks.
The organization revealed that the

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California Considers Lifting Ban on Crypto Donations for Political Campaigns

May 17, 2022

California’s state regulator – Fair Political Practices Commission (FPPC) – will consider allowing the use of cryptocurrencies for political campaign donations four years after banning them.
Potential Law Amendments
During its most recent Commission Meeting, the FPPC disclosed it had arranged a “pre-notice discussion” where it will contemplate whether to enable digital asset political donations in the state. The conversation will be held later this week (May 19):
“The proposed regulations and amendments are presented for discussion and direction by the Commission and will be presented for adoption at a subsequent meeting. The Commission will review and discuss potential sponsored and other legislation, The Commission will provide direction on future legislation to be

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Soccer Team RCD Espanyol to Become the First Spanish Club to Accept Crypto Payments

May 15, 2022

The professional soccer team based in Catalonia, Spain – RCD Espanyol – will enable fans to purchase game tickets, merchandise products, and food and beverages in several cryptocurrencies. The offering will be available with the start of La Liga’s next season (August 2022).
The First in La Liga to Embrace Crypto
Digital assets and the soccer industry have formed a relatively strong bond over the past several months. Numerous clubs from all parts of the globe announced partnerships with crypto companies, introduced exchanges as sponsors, or accepted the asset class as a payment method.
However, Spain’s top soccer division – La Liga – has not been so heavily involved in the sector. According to a recent press release, this trend is about to change this summer when RCD

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Chile’s CBDC Should Operate Both Online and Offline Before Launch

May 14, 2022

The Chilean central bank withdrew its plans to release a CBDC by the end of 2022, saying it will conduct thorough research and additional analysis on the product before moving to its launch.
Digital Peso Should Wait
Banco Central de Chile published a report focused on the country’s current monetary network and examined the risks and benefits of issuing a digital version of its national currency. By the looks of it, the central bank is optimistic about such a financial product, believing it could strengthen the economic system and ensure consumer protection:
“A CBDC would contribute to achieving a competitive, innovative and integrated payment system that is inclusive, resilient and protects people’s information.”
The bank further argued that the Chilean peso could be an

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Brazil’s Leading Financial Broker XP to Launch a Crypto Trading Platform

May 14, 2022

The Brazilian investment management company – XP Inc. – reportedly joined forces with Nasdaq to launch a cryptocurrency trading platform. Called XTAGE, it should go live by the end of June. Initially, it will enable investors to buy and sell bitcoin and ether.
XP Thinks About the Next Five, Ten Years
The latest organization to open up to the crypto industry is the largest broker in the country – XP Inc. According to reports, the company partnered with Nasdaq to launch a digital asset trading platform called XTAGE. It will be fully integrated into XP’s ecosystem and should be operational by the end of next month.
At first, the platform will allow users to trade the two leading cryptocurrencies by market capitalization – bitcoin and ether. CFO Bruno Constantino clarified

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Billionaire Bill Miller Remains Bullish on Bitcoin Despite Ongoing Crash

May 13, 2022

Legacy American investor Bill Miller revealed he sold some “liquid stuff” to satisfy margin calls as bitcoin might be one of those assets. However, the billionaire remains a keen proponent of the primary cryptocurrency, describing it as an “insurance against financial catastrophe.”
Not Changing his Stance
The US investor, fund manager, and philanthropist Bill Miller stands as one of the most popular bitcoin supporters. He further strengthened his stance during the COVID-19 outbreak and the controversial financial policies that many banking institutions introduced. Back then, he argued that bitcoin is valuable because “it can’t be touched by the government.”
Earlier this year, Miller admitted having invested 50% of his portfolio into BTC. He further disclosed that his first

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US Prosecutors: BitMEX Co-Founder Arthur Hayes Deserves More Than a Year in Prison

May 13, 2022

According to US prosecutors, the Co-Founder of the cryptocurrency exchange BitMEX – Arthur Hayes – should stay behind bars for more than 12 months because his company violated anti-money laundering laws. It is expected that the court will sentence him to spend between six months and one year in federal prison since he pleaded guilty to breaching the Bank Secrecy Act in February.
One Year is Is Not Enough
The digital asset exchange and derivative trading platform – BitMEX – made the headlines in October 2020 when the Commodity Futures Trading Commission (CFTC) accused the Co-Founders Arthur Hayes, Benjamin Delo, and Samuel Reed of failing to establish and maintain an AML program. The prosecutors argued that the executives’ actions turned the trading venue into a

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Crypto Regulatory Framework Coming Next Year in South Korea: Report

May 13, 2022

The new government of South Korea will reportedly finalize the regulatory framework on the local digital asset ecosystem next year and enforce it in 2024. The legislation will aim to incorporate cryptocurrencies like bitcoin into the country’s institutional system.
In addition, the authorities have greenlighted the Bank of Korea’s efforts to launch a CBDC in 2023.
South Korea Embracing Crypto
Just two months after Yoon Seok-youl secured a victory in South Korea’s presidential elections, his administration touched upon the cryptocurrency industry. According to a local coverage, the authorities will enact the Digital Assets Basic Act in 2023, meaning that crypto will be entirely supervised in the country.
The initiative should include bitcoin and the altcoins into the

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FSB Chair: Crypto Markets Could Soon Threaten Global Financial Stability

May 12, 2022

The Chairman of the Financial Stability Board (FSB) – Klaas Knot – raised concerns that the cryptocurrency sector could harm the monetary network in the future. In his view, the digital asset market is expanding at a fast pace, while some of the tokens are employed by criminals in illicit activities. “For these reasons, policy work on crypto assets is a priority for the FSB,” the executive outlined.
The FSB Wants to Regulate “Unbacked” Crypto
The lack of an appropriate regulatory framework applied to the digital asset industry has been a problem addressed by numerous prominent individuals. The latest to give his two cents on the matter is Klaas Knot – President of the Dutch central bank and Chairman of the FSB.
In a recent announcement, the economist argued that bitcoin

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British Asset Manager Fasanara Raises $350 Million Crypto and Fintech Fund (Report)

May 11, 2022

Fasanara Capital Ltd – a London-based asset manager – reportedly closed a $350 million fundraiser and wants to use the financing to invest in cryptocurrency companies and financial technology.
The Crypto Crash Works in Favor of Fasanara
According to a Bloomberg coverage, Fasanara secured its second fund to back technology startups and companies part of the digital asset industry. Specifically, it intends to allocate the $350 million to crypto exchanges and digital lending businesses.
The British organization has previously raised approximately $550 million to support the European tech sector. It invested a significant chunk into the German-based rental startup – Grover – and the Italian buy-now-pay-later entity – Scalapay.
Currently, Fasanara is working on its third fund

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AMC CEO Reveals the Total of Crypto Payments Made in Q1

May 10, 2022

Adam Aron – CEO of AMC Theatres – revealed that cryptocurrencies and other digital payment methods accounted for more than a third of the online payments for the company during Q1, 2022. The largest movie theatre chain in the world accepts several digital assets, including Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, and Shiba Inu.
AMC’s Decision to Embrace Crypto Labeled a Success
Last year, the entertainment firm jumped into the digital asset ecosystem by allowing customers to purchase tickets through all the US-based theatres in bitcoin. A month later, it expanded the offering, adding Ethereum, Litecoin, and Bitcoin Cash. Earlier this year, AMC Theatres enabled clients to make online payments for tickets using two of the most popular memecoins – Dogecoin and Shiba

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Nigeria’s Central Bank to Allow Bill Payments in eNaira (Report)

May 10, 2022

The Central Bank of Nigeria (CBN) will reportedly enable locals to pay their bills, TV subscriptions, and flight tickets using the eNaira. The move is part of a campaign that aims to popularize the financial product and encourage people to employ it more often in their daily transactions.
The Upgrade of Nigeria’s CBDC
It is safe to say that the most populated country in Africa – Nigeria – is among the leaders in terms of CBDC efforts. Last year, the authorities introduced the eNaira under the slogan “Same Naira, more possibilities.” The nation’s central bank raised hopes that the product will make financial transactions “easier and seamless for every strata of the society.”
According to a recent coverage, the CBN will upgrade its CBDC next week, allowing members of the

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Near Foundation Establishes Blockchain Hub in Kenya: Report

May 9, 2022

Near Foundation – the Swiss non-profit that oversees the development of Near Protocol – reportedly teamed up with the Kenyan blockchain community Sankore to launch a regional hub in the African country. The unit will focus on crypto innovations, education, and talent development throughout the continent.
Africa’s Latest Crypto Project
Several recent studies estimated that emerging economies and developing countries are particularly thriving areas for the crypto industry. Keeping in mind that the majority of African nations fall into this column, it is no wonder why locals are so intrigued by bitcoin and altcoins. Kenya, for one, ranked fifth in last year’s Global Crypto Adoption Index.
A recent coverage informed that the country took another step towards further

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Cardano’s Charles Hoskinson: We Are in a Bear Market

May 9, 2022

The American entrepreneur and founder of Cardano – Charles Hoskinson – opined that ADA (the native token of his blockchain protocol) has been underperforming recently because crypto is in a bear market. In his view, nothing can move the USD valuation up during the current situation.
Bear Market is Here
2022 and especially the last few weeks have not been kind to the cryptocurrency industry as the prices of most digital assets are far away from their top levels registered in 2021. There are numerous reasons for the crash, including the post-pandemic financial crisis and the Russia-Ukraine war.
Addressing the matter and providing his view on why crypto has headed south was Cardano’s founder – Charles Hoskinson. In a recent tweet, the American claimed that digital assets had

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90% of Central Banks Explore Launching CBDCs (BIS Survey)

May 7, 2022

In its most recent research, the Bank of International Settlements (BIS) estimated that nine out of ten central banks explore how to release their own CBDC. Moreover, 50% of those financial institutions are currently developing such products or passing through experiments.
Most Central Banks Are Interested in CBDCs
The international monetary institution – BIS – questioned 81 central banks to determine their stance on CBDCs and how close they are to launching one. Per the results, 90% of the participants admitted they work towards introducing that product. Nearly half of the central banks are in the midst of developing or “running concrete experiments” on CBDC.
“Globally, more than two-thirds of central banks consider that they are likely to or might possibly issue a retail

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Sunshine Tour’s Best Golfers to Win Bitcoin Awards

May 7, 2022

Sunshine Tour – a professional golf tournament held in Southern and Eastern Africa – partnered with Luno to bring cryptocurrencies closer to the participants. Apart from prizes in fiat currency, the top golfers will receive awards in bitcoin.
BTC Reaching the Golf Course
The primary cryptocurrency keeps making its way through the sports industry. The latest such example came from the prestigious golf championship – Sunshine Tour. The tournament, based in numerous African countries like Botswana, Kenya, Mauritius, Tanzania, and South Africa, will give around $31,000 worth of bitcoin to the golfer that finishes first.
The second-ranked will receive approximately $12,000 in BTC, while the third will get $6,000 worth of the asset.
Sunshine Tour’s partner is the cryptocurrency

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Katie Haun’s Crypto Fund Led a $50M Fundraiser for NFT Marketplace Zora

May 7, 2022

Non-fungible token (NFT) platform Zora raised $50 million in a seed funding round to expand its services to customers. The investment was led by prominent venture capital firms such as Haun Ventures, Coinbase Ventures, and Kindred Ventures.
Zora’s Valuation Tapped $600 Million
NFTs remain an intriguing feature for a big chunk of the crypto participants, allowing many startups to raise multimillion investments to strengthen their position in the field. The latest such entity is Zora.
It secured a $50 million fundraise financed by Katie Haun’s new crypto fund – Haun Ventures. Other participants included Kindred Ventures and Coinbase Ventures. It is worth noting that this was the first use of capital from Haun’s recently formed organization. Prior to that, she served at

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Argentina’s Central Bank to Ban Local Institutions From Providing Crypto Services

May 6, 2022

The Central Bank of the Argentine Republic (BCRA) prohibited domestic financial institutions from facilitating crypto opportunities. The announcement comes a few days after two of the largest local banks – Banco Galicia and Brubank – revealed they will allow clients to purchase digital assets via their official websites.
Argentina’s Central Bank Blocks the Crypto Offerings
Earlier this week, the largest private bank in Argentina in terms of market value – Banco Galicia – and the digital bank – Brubank – partnered with crypto wallet Lirium to provide cryptocurrency services to customers. Both parties outlined the high demand users have displayed for digital assets as reasoning, especially from the younger generations.
Nonetheless, Argentina’s central bank stated that

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Ice Cube Says He’s Down With the DOGE Army

May 5, 2022

Renowned American rapper and actor – O’Shea Jackson Sr. (better known as Ice Cube) – asserted that he is a supporter of the first-ever memecoin Dogecoin. Thus, he put his name next to the likes of Elon Musk, Roger Ver, Snoop Dogg, Gene Simmons, and more.
Ice Cube Among the DOGE Proponents
Despite being created as a joke in 2013, Dogecoin emerged as a leading digital asset with a market capitalization of over $17 billion. The token also attracted numerous celebrities who displayed their support over the past few years. The latest such person is the popular rapper, actor, and filmmaker – Ice Cube.
The American replied to a tweet from Bill Lee (a founding member of MyDoge wallet), stating he is “down with the Doge army.”

Come on wit it Bill, you know I’m down with the

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A Crypto Proponent Will Be the Next Senator of Ohio

May 4, 2022

Bitcoin-friendly politician – James David Vance – won the Ohio Republican Senate primary election and will face the member of the Democratic party – Tim Ryan – in November this year. The voting will determine the next senator of Ohio, and, interestingly, Ryan is also a supporter of the crypto sector.
Crypto Backers on the Final Stretch
The American politician, venture capitalist, and author – James David Vance – secured a victory in the Ohio Senate Republican primary. He won 32% of the votes, while the former state treasurer Josh Mandel finished second.
Vance is known for having a close relationship with the previous US president – Donald Trump. After announcing his win, he thanked Trump for backing his candidacy and opposed his critics:
“They wanted to write a story that

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Liechtenstein’s Largest Private Bank Enables Direct Investments in Bitcoin

May 4, 2022

The leading private bank in Liechtenstein – LGT Bank – partnered with SEBA Bank to offer direct investments in digital assets for its customers. The cryptocurrencies included in the initiative are the two largest by market capitalization – bitcoin (BTC) and ether (ETH).
LGT Enters the Crypto Ecosystem
The financial institution noted that the demand for digital assets has risen “sharply” in recent years. To cope with the growing interest, LGT allowed its clients to invest directly in two cryptocurrencies – bitcoin and ether (against the US dollar). Commenting on the matter was Roland Matt – CEO of the bank:
“We are very pleased that we can now offer our clients convenient access to these markets while upholding the highest security standards. We worked intensively on this

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Joe Rogan Believes the US Government Fears Bitcoin

May 4, 2022

The renowned American podcaster, UFC commentator, and comedian – Joe Rogan – said bitcoin reminds him of the Internet in its early days. In his view, it has emerged as a “viable form of currency,” which is a serious concern for the US government.
Bitcoin Made the Government ‘Freak Out’
During his most recent podcast episode, Joe Rogan reiterated his support of bitcoin, asserting that the current status of the asset is much similar to the early Internet:
“I think of bitcoin the same way I think about the early Internet.”
According to Rogan, the US government did not expect BTC to become a “viable currency” that one can use to buy things. As such, the authorities started “freaking out” and are now looking to cope with the situation.
The UFC commentator does not think the

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Hawaii to Launch a Task Force Focused on Crypto Regulations

May 4, 2022

Two of the main committees of the state of Hawaii – Commerce and Consumer Protection (CPN) and Ways and Means (WAM) – greenlighted the launch of a unit called Blockchain and Cryptocurrency Task Force. The division’s main goals will be to supervise the local digital asset ecosystem and explore the employment of cryptocurrencies.
Hawaii Seeking to Regulate Crypto
In a letter addressed to Hawaii’s President of the Senate – Ron Kouchi – the two committees outlined the “emerging growth and popularity” of the cryptocurrency sector in the past few years. However, the agencies argued there is “little” regulation on the industry.
Since both committees believe in the future of the asset class, they approved the launch of a specialized unit, dubbed Blockchain and Cryptocurrency Task

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Mexico City’s Senate Building Now Has a Bitcoin ATM (Report)

May 1, 2022

Mexico has reportedly gotten another Bitcoin Automated Teller Machine (ATM), and this time it is located in the Senate building in Mexico City. Interestingly, some local politicians, such as Miguel Ángel Mancera, were behind the move.
Bitcoin ATM at the Senate’s Front Door
According to the local coverage, the Mexican authorities installed the 14th Bitcoin ATM in the Senate’s building in the capital Mexico City, hinting at a further future interaction with the digital asset. The remaining 13 such machines are located in major cities like Cancún, Tijuana, Guadalajara, and Culiacán.
It is worth noting that some renowned Mexican politicians lobbied for the move. One of those is Mexico City’s previous mayor – Miguel Ángel Mancera. He believes bitcoin has emerged as a successful

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