Very Positive News: Bitcoin City, Twitter Exchange, Mega OfferingVery Positive News: Bitcoin City, Twitter Exchange, Mega Offering

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Positive news is coming to the cryptocurrency market that will resuscitate the market out of a massive correction wave that swept the market last week.

Bitcoin City

El Salvador's President Najib Boukela said the country plans to build the world's first "Bitcoin City", which will initially be funded through bitcoin bonds, increasing the Central American country's bet on the cryptocurrency.

Speaking at an event to mark the end of a week to promote Bitcoin in El Salvador, Bukele said the planned city in the east of the country would get its power supply from Berkane and would not levy any taxes except for value-added tax.

"We will start financing in 2022, and the bonds will be available in 2022," Bukele told a crowd at the event.

Speaking alongside his agent, Samson Mao, chief strategist at blockchain technology provider Blockstream, said El Salvador will initially issue a $ 1 billion bond backed by bitcoin to begin raising funds for the planned city.

Bitcoin City Mega Offering

In September, El Salvador became the first country in the world to adopt Bitcoin as a legal currency.

huge insert

Bitdir Technologies Holding Company, a Singapore-based Bitcoin (BTC) mining company, announced that it has entered into a definitive merger agreement with Blue Safari Group Acquisition Corp. for a business combination between Blue Safari and the mining company.

According to the announcement, the two companies are expected to merge and be renamed Bitdir Technologies Group, while retaining their Nasdaq listing.

Batder is a Singapore - based company focused on the mining industry encoded currencies . The Bitcoin miner currently owns five mining data centers in the United States and Norway.

According to the announcement, the deal positions Bitdir as a potential influencer in the crypto mining sector. As Chairman and Founder of BitDire, Jihan Wu will continue to lead the combined organization after the transaction is concluded.

While commenting on the deal, Wu expressed his happiness that the two organizations have come together.

He further added, “As a leading cryptocurrency mining company, we will continue to consolidate our leading position in cryptocurrency mining.”

“Today marks an important milestone for BitDire, and we strive to create value for a broader group of stakeholders in the future, including our customers, our employees and our shareholders.”

The announcement claims that after the deal, Bitdir has an implied value of the company of about $4 billion.

The proposed merger has been approved by the two companies' Boards of Directors, and is expected to be completed in the first quarter of 2022, subject to regulatory approvals, shareholder approval of the transaction, and other usual closing conditions that are met.

resounding failure

Twitter stock exchange

Jack Dorsey, co-founder and CEO of both Square and Twitter, has released an introductory document detailing Square's plans for a decentralized bitcoin exchange, tbDEX.

Unlike most decentralized exchanges, or DEXs, tbDEX will not use a non-trust model, and therefore will not feature its own governance token.

Instead, it is a message protocol designed to facilitate trust relationships without relying on a federation to control access.

tbDEX also intends to include several features that make it much less decentralized than decentralized exchanges in the truest sense of the word.

For starters, the protocol requires that all participants go through a Know Your Customer or KYC background check for compliance with relevant regulations depending on the user region.

Users can only then connect their wallets to the exchange and exchange currencies with each other.

Furthermore, the white paper called for the deployment of blockchain analytics solutions, either built into a decentralized exchange or through a third party, to track transactions on the platform.

And this class of forensic solutions around the Blockchain is likely to be a controversial topic.

Such a system would potentially enable authorities to cross-reference payment identifiers and public wallet addresses with KYC information to reveal the personal identities behind transacting parties.

However, proponents claim that these means of monitoring are necessary to prevent illegal activities.

But tbDEX's central features can also be supported by crypto enthusiasts. One distinct aspect discussed in the white paper is chargebacks, which are not found on most decentralized exchanges.

If implemented, Square's ability to reverse transactions in tbDEX could stem irreversible losses incurred by investors during decentralized finance escape frauds.

Square is currently encouraging comments on the white paper on its newly created Twitter account.

market now

Bitcoin is trading during those moments of trading today, Sunday, at the highest levels of $ 59 thousand, with an increase of less than 1%.

While Ethereum ETH/USD is trading near the $4,400 levels, up 1.6 percent at $4.36 thousand.

Binance Coin BNB/USD, the third largest currency, rises by about 1.6 percent at levels of $593, with a market value of close to $100 billion.

While Solana's SOL/USD decreases less than 1% to reach levels of $213, with a market value of around $65 billion.

While rising Cardano Cardano slightly in the range of 0.6% at levels of $ 1.9 market $ 63 billion.

Ripple XRP and Polka Dot pDOTn/USD are trading down less than 1% at $1.1 and $41.2 for both, respectively.

While Dogecoin DOGE/USD is down 2% at levels of $0.229, and SHIB/USD is down 6%, down to levels of $0.0004647.

The article does not express a recommendation or nomination, but rather a mere monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.

Source : Investing website

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