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Mayowa Adebajo



Articles by Mayowa Adebajo

Pakistan Set Up New Laws to Fastrack CBDC Launch

December 5, 2022

Pakistan is intensifying efforts to launch its CBDC and has issued a timeframe within which it’ll achieve its aim.Pakistan might be the latest in a long list of countries looking to harness the potential of using central bank-issued digital currencies (CBDC). This follows after it announced new regulations in hopes that they will ensure a successful CBDC launch by 2025.Pakistan Approves New EMI Laws, Eyes CBDC LaunchAs part of its efforts in this regard, the first aspect that Pakistan is looking to secure is the time frame within which it hopes to complete the CBDC launch. According to a local media report by Arab News, the State Bank of Pakistan (SBP) has already signed a new law that will license and regulate Electronic Money Institutions (EMIs). This means that the EMIs – which are

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Former FTX CEO May Have Influenced Alameda Research to Invest $1.15B in Mining Firm Genesis Digital

December 5, 2022

Alameda consulted troubled entrepreneur Sam Bankman-Fried before investing in Genesis Digital.A new report has surfaced about a capital injection of over $1.15 billion that was carried out by Sam Bankman-Fried‘s Alameda Research. This was prior to the time that crypto prices began heading for the rocks. According to the report, the capital, which is Alameda Research’s biggest venture investment to date, was put into Bitcoin mining firm Genesis Digital Assets. Although, according to another Bloomberg report dated December 3, the $1.15 billion investment wasn’t done in a singular instance. The report claims that the capital injection came in four different spates, albeit across a nine-month period. That was between August 2021 and April 2022.The first capital injection by Alameda into

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Bitcoin Mining Revenue Falls 20% in November as Miners Struggle to Stay Profitable

December 2, 2022

Once again, Bitcoin miners went significantly lower in terms of monthly revenue, raking in only about $472 million in November.Bitcoin (BTC) mining continues to prove unprofitable as monthly revenues keep going down from previous values. According to data studied by The Block Research, the month of November saw Bitcoin mining revenue dwindle by almost 20% from its October value to reach a two-year low of 472 million.Bitcoin Mining Revenue Suffered in November amid Various Market DifficultiesBitcoin mining revenue has been steadily on a decline, albeit for many reasons. One such reason is the price of the flagship cryptocurrency. BTC price hovered around the $19,000 mark for a while, before the collapse of the FTX exchange finally caused it to slump below $17,000. Expectedly, this

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Porsche Forays into Metaverse, Reveals Plans to Launch NFTs at Art Basel

December 1, 2022

The collection is expected to launch by January 2023, with a total of 7,500 unique NFTs.Luxurious automaker Porsche has come forward with a plan to venture into the virtual world using non-fungible tokens (NFTs) art. The automaker revealed its plans to launch the Porsche NFTs during the ongoing Art Basel in Miami, Florida.Details of Upcoming Porsche NFTsAccording to the firm, the collection will have a total of 7,500 unique NFTs. The firm also confirms that it will be launching the collection in collaboration with renowned 3D artist Patrick Vogel, whose ALT/SHIFT studio will create the designs. Buyers can make their car selections from three available core themes, namely: Lifestyle, Performance, and Heritage. However, each individual user will be limited to only three possible purchases.

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Chamber of Deputies Approves Brazilian Crypto Bill

November 30, 2022

The bill is now set to become law once signed by the President.The long wait is finally over, as the Chamber of Deputies gave a nod of approval to a Brazilian crypto bill seeking to regulate the country’s crypto space. The move follows after the bill remained stuck in the chamber since April when the Senate initially approved it. According to a Reuters report, backing the bill was important to Congress as it will help to keep the crypto industry sanitized.Brazilian Crypto Bill Aims to Protect InvestorsThe bill, which was proposed by deputy Aureo Ribeiro, seeks a regulatory tenure for Brazil that will ensure that investor funds are well protected. To do this, part of the bill proposes that a government-appointed federal agency will perform oversight duties for the entire sector. The bill

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