Last Updated : June 17, 2021 / 08:37 AM IST
Top cryptocurrency news on June 17: Major stories on Bitcoin, Ethereum, Tether
A daily round-up of the most interesting articles on cryptocurrencies like Bitcoin, Ethereum and Tether to help jump-start the day.
Cryptocurrency markets in red
Cryptocurrency prices continue to be in the red on June 17. The global cryptocurrency market cap is $1.6 trillion, a 5.96 percent decrease over the last day while the total crypto market volume over the last 24 hours is $89 billion, which makes a 0.93 percent increase. Here are the details.
Fox bets big on NFT, earmarks $100 million for a fund on the same
Bento Box Entertainment, under the aegis of media mogul Rupert Murdoch’s Fox Entertainment, is taking fan engagement of this show Krapopolis a step ahead by curating a dedicated NFT (Non-Fungible Token) marketplace that will sell background art, experience tokens, and more.
The show, created by Rick and Morty co-founder Dan Harmon, will premiere in 2022. This, along with a $100 million creative fund in collaboration with NFT firm Blockchain Creative Labs is the latest in Fox’s bid to expand its presence in the rapidly emerging space. Check the details here.
Analysts predict big era for digital currencies complementing crypto
Central bank digital currencies will complement cryptocurrencies rather than competing with them despite not being structurally different from their country’s fiat currencies, strategists and fund managers said.
Around 90 percent of the world’s central banks are now working on their own digital currencies, some of which may be issued in the next three years, a January survey from the Bank for International Settlements showed. Read here to find out more.
World Bank rejects El Salvador request for help on bitcoin implementation
The World Bank said on Wednesday it could not assist El Salvador’s bitcoin implementation given environmental and transparency drawbacks.
“We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes,” said a World Bank spokesperson via email.
“While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”
Earlier on Wednesday, Salvadoran Finance Minister Alejandro Zelaya said the country had sought technical assistance from the Bank as it seeks to use bitcoin as a parallel legal tender alongside the U.S. dollar, Reuters reported.