Breaking crypto news from the last week (21 – 27 Aug.2021):
21 Aug.: World’s biggest cryptocurrency exchange Binance is rolling out immediate verification requirements for all its users in support of its expanded know-your-customer (KYC) and anti-money-laundering (AML) policy. Binance will limit services for existing users unless they adhere to the new requirements.
22 Aug.: The global boom of crypto over the past year has driven an 881% growth in adoption as tender, alongside a colossal 2,300% surge of cryptocurrency adoption since 2019. Emerging markets like Vietnam, India, and Pakistan are firmly lead, according to new data from Chainalysis.
23 Aug.: PayPal announced the launch of crypto services through its platform to its millions of users in the UK as the country becomes just the second country after the US that PayPal has decided to launch the crypto services in.
24 Aug.: Circle, an issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s $22 billion supply was backed by only 61% cash and cash equivalents.
25 Aug.: Bitcoin hashrate triples since June 28 as miners are coming back online after China’s crackdown while surging Bitcoin price makes the mining business wildly profitable.
26 Aug.: Nabil Al Sayed, a serial startup entrepreneur, has announced the launch on Thursday of NIFTY Souq, a new digital platform where artists and collectors of the Middle East and North Africa region can create and buy NFTs. The new NFT marketplace is going to revolutionize the music and art scene in the Gulf countries.27 Aug.: Dubai-based token PEAKDEFI (PEAK) has raised on Aug. 26 at 68% for 24 hours. Now, it’s trading above $0.55, ranked at position 249 with a market cap of $286,608,797. PEAK is known as the native token of the PEAK Tech DeFi ecosystem launched by a team based in Dubai, which develops crypto asset management PEAKDEFI fund, its own crypto wallet app, and an education and software platform MarketPeak.