The crypto protocol that made the city of Miami over $21 million is coming to New York City.
The post Mining for NYCCoin to begin Wednesday with blessing from Mayor-elect Adams appeared first on The Block.
Quick Take
- Optimistic rollups (ORUs) have grown significantly in the last three months, with Arbitrum and Optimism leading the market in TVL
- Arbitrum adopted a more aggressive onboarding approach as compared to Optimism, which appears to have paid off in terms of attracting users and liquidity
- Both teams have not addressed how they intend to decentralize governance and sequencer nodes, assuming they have the intent to do so
- While Arbitrum dwarfs Optimism in TVLs and dapps, the number of users and on-chain transactions suggests that they are currently on par in terms of user adoption
Bitcoin (BTC) is pulling back, although some traders are prepared to buy on dips amid a seasonally strong Q4. Analyst have upward price targets for both BTC and ether (ETH) despite slower trading volume.
Austria’s Federal Ministry of Finance hopes to boost confidence in cryptocurrencies by taxing them like mainstream stock and bond investments, according to a Bloomberg story.
- Starting next March, Austria will apply a 27.5% capital gains levy on digital currencies, including bitcoin and ether.
- The initiative will be part of a nationwide tax overhaul.
- Austria called its model the first of its kind and said streamlining conditions between asset classes would be fairer for investors.
- “There is still an imbalance when it comes to the regulation of cryptocurrencies compared to traditional shares and bonds,” Finance Minister Gernot Blümel said in an email. “We are taking a step in the direction of equal treatment, to reduce mistrust and prejudice toward new technologies. At the same time, we are creating more fairness for investors as well as uniform market conditions.”
Read more: House Sends Infrastructure Bill With Crypto Tax Provision to US President
UPDATE (Nov. 10, 11:41 UTC) Replaces quote from Bloomberg in last bullet with emailed comment from finance minister.
Quick Take
- This research piece contains 29 charts relating to the latest developments in the crypto space — this includes DeFi, stablecoins, ETFs, exchange tokens, etc.
- Crypto ETFs have been launching recently in both the US and Canada.
- DeFi topics like stablecoins and fixed rate protocols are gaining excitement as protocols continue to develop.
Coinbase said revenue came in at $1.31 billion for the period, down from Q2’s $2.27 billion.
The post Coinbase says Q3 revenue, trading volumes cooled compared to previous quarter appeared first on The Block.
Shares of the largest cryptocurrency exchange in the U.S fell after the company missed revenue expectations and trading volume fell compared to the previous quarter.
Quick Take
- The FATF’s virtual asset guidance has been finalized.
- The final document includes clarifications to its VASP definition, especially as it relates to decentralized finance entities.
- While the software itself is off the hook, the developers behind decentralized protocols are not.
The initiative is aiming to bring NFT Governance to the music industry.
The Bank of France has made public some of the results of its experiments with central bank digital currency.
The post French central bank publishes results from wholesale CBDC experiments appeared first on The Block.
