cryptocurrencies

Ferrari in Formula 1 has ended its brief involvement in the cryptocurrency market after spending all of 2022 sponsored by one brand. Ferrari is another Formula 1 automaker that has not renewed a contract with cryptocurrency companies in recent months. After terminating its contract with Vela blockchain Ferrari exits the cryptocurrency market after sponsorship Below the tokens, blockchain candles can still be seen stamped on the releases, apparently indicating a healthy assignment between the parties. As of the end of 2021, Ferrari has announced a deal with Candles (VLX), Ethereum’s rival cryptocurrency. According to Decal Spotters profile, which tracks sponsorship moves between brands, Velas Blockchain and mobile processor brand Snapdragon were already removed from the list of sponsors on Ferrari’s official website. Ferrari announced a long-term partnership with Velas at the end of 2021 and a strategic partnership with Snapdragon in early 2022. Scuderia Ferrari has not officially confirmed the end of the contract, nor has Velas Blockchain, which still claims to be the automaker’s sponsor in its description. Vela’s price drops On January 5, 2022, when VLX achieved its peak, each coin was worth $0.56. It is worth remembering that fearing the cryptocurrency market, some Formula 1 company recorded problems with sponsorships. It is unclear whether Ferrari pulled out of the market due to concerns or precautionary measures, but given the instability of cryptocurrencies, the main brand will not be sponsored by cryptocurrency companies in the 2023 season.

MetaMask and PayPal announced a tie-up to allow users to buy Ethereum (ETH) from the PayPal app. Crypto buying and trading services will be accessible to a certain number of users in the US, but there will come a point where this may be accessible to anyone, although the expansion of the wallet already makes it possible for US consumers to trade cryptos from Coinbase Pay, MoonPay and Transak. Lorenzo Santos, MetaMask product manager, described: “Joining with PayPal will let our own U.S. users not only market cryptocurrencies seamlessly through MetaMask, but also easily explore the Web 3.0 ecosystem.” The steps to buy ETH in MetaMask via paypal are as follows: The future of paypal with cryptocurrencies In June of this year, PayPal announced that it would allow users to transfer cryptocurrencies, including Bitcoin. The new transaction will be able to be made to external wallets. The news came almost two years after the financial technology giant opened its platform to digital currencies.

Amazon Studios, Apple, and Netflix are competing to see who will get the film and TV rights to Michael Lewis’ book about the FTX collapse. U.S. creator and financial journalist Michael Lewis are working on a book covering everything about the FTX collapse. This is because Lewis has spent time with Sam Bankman-Fried, he has been able to keep up with everything from the height of its popularity to its downfall. Lewis rose to popularity for writing books like Big Short, The Blind Side, and Moneyball. Once the entertainment industry got wind that Lewis was doing work on this book, they swooped in to get the rights. On the plus side, it will also provide insight into FTX’s internal performance, because Lewis has been in close contact with former CEO Bankman-Fried. Apple may be close to closing the deal There will undoubtedly be enormous interest in Lewis’ book following its publication as there is precedent for tapes and TV shows based on notorious incidents in the tech industry. From WeCrashed to Super Pumped: The Battle for Uber. Already Hollywood has shown interest in covering the worst tech developments, so a great opportunity can be found here. SBF bought real estate for costs in the hundreds of millions of dollars. Reuters reported that Bankman-Fried, his dads, and executives bought 19 real estate properties for a cost of almost $121 million in the Bahamas. The Wall Street Journal additionally reported that Bankman-Fried cashed out $300 million in an earlier October 2021 funding round. At that instant, the exchange raised $420 million. Conclusion: Cryptocurrencies are a field that has already drawn a lot of attention, this year alone there have already been several companies that have suffered a collapse of some sort that has caused the market to crash.  But none has been so full of a plot twist as what is happening with FTX, so seeing a story on the small screen can draw attention and cause popularity back to cryptocurrencies, plus it will help people understand how this world works and that a company’s actions can move the market.

Mercado Libre is one of the Fintechs with a presence in well over a dozen territories in Latin America. It launches the purchase, marketing, and saving of cryptocurrencies through its payment wallet in Mexico. Territories with Mercado Libre The fact that Mercado Libre gave the green light that now Mexico will be given the service of buying cryptocurrencies through its payment application Mercado Pago. Some of the territories where they are present in Mercado Libre would be the following: Territories such as Brazil, Argentina, Colombia, and Ecuador (ranking seventh (7), thirteenth (13), fifteenth (15), and eighteenth (18) respectively). First came Brazil Brazil is positioned in seventh place in the analysis that started with this service’s use for the purchase of 3 cryptocurrencies: USDP, Bitcoin, and Ethereum. Despite repeated statements in print and audiovisual media about the adoption of cryptocurrencies, it showed with this accession through Paxos that the crypto market is now part of its portfolio of services which that same week would activate the purchase and trading of cryptocurrencies from the mobile application. Mexico with a new way to buy cryptocurrencies The minimum purchase is one peso, so it is also an offer for the Mexican public, which has been growing in the adoption of cryptocurrencies. In Mexico, the use of both huge cryptocurrencies in the market, Bitcoin and Ethereum, predominates. The same metric suggests that the market for cryptocurrencies currently in Mexico is 12 million individuals, which points to a fairly large market to lump into the company’s payments network. Mercado Pago appears to be exclusive with the minimum purchase choice of one peso. It is still unknown whether it will extend the offer of cryptocurrencies in the territory, and will follow in the footsteps of the large South American because Brazil is available in addition to Bitcoin and Ethereum, the stablecoin USDP.

Circle, the company behind USD Coin has added support for crypto payments via Apple Pay. iPhone users will now be able to buy cryptocurrencies such as Bitcoin and Ethereum on their favorite exchange using Apple’s wallet, making it easier for non-cryptocurrency customers to get a taste of this world. Circle further commented that Apple Pay is a safer and faster way to pay, because “customers will no longer have to create an account or fill out lengthy forms.” Who is this feature available to? This payment option is available to users at select businesses and the process of activating this is simple. Thanks to Circle, customers can pay online and in apps using their iPhone, Apple Watch, iPad, and other compatible devices. How to use USDC in Apple Pay? From Circle’s website we can see that the steps to start trading with USDC on Apple Pay to carry out would be as follows: Conclusion: In this way, Apple is integrating itself into the world of cryptocurrencies despite the recent events of the FTX cryptocurrency exchange. Hopefully, this move will lift confidence again in this bear market.

The collapse of Sam Bankman-Fried’s empire has been the talk of this year’s LaBitConf in Buenos Aires. Latin America’s largest cryptocurrency conference, LaBitConf 2022, began on Friday and ended this weekend. The hysteria even caused Ethereum co-founder Vitalik Buterin surely the conference’s most recognizable speaker to give a surprise talk at the start of its premier event in which he compared the Sam Bankman-Fried to a “1930s dictator.” The fall of the FTX CEO Bankman-Fried, whose cryptocurrency empire went up in smoke this week, is under investigation for “criminal conduct.” This alarm has caused other cryptocurrency Exchanges and organizations to look for ways to show their consumers that the same will not happen to them. At LaBitConf they had ready answers. Many of the top crypto people in Latin America shared responses to what has happened, below we share them with you: Mexico-based Bitso: spoke to Decrypt about the debacle. BitGet operations manager Mario Iemma commented that the crisis may be a possibility: the Singapore-based exchange, which runs the derivatives market in the area, made known a new system that makes it possible for users to see the exchange’s liquidity at all times. The CEO of blockchain organization Koibanx, Leo Elduayen, mentioned on stage that we need to “open our eyes” to organizations like FTX and Celsius that went under earlier this year and recognize that they are not true Web3 organizations. Buterin added that “this year we just saw a huge set of things,” referring to the collapse of several cryptocurrency projects and hacks. “It’s the things that break because they have a model, and that model is pretty much bad,” he commented. “And the other is things that are broken as there is no trust in the model at all, but in a guy.” Conclusion: As regulators and law enforcement investigate what indeed led to the FTX collapse, everyone seemed to be in consensus on one thing at this year’s LaBitConf: the cryptocurrency sphere requires being very careful about whom you give your money.

The Reserve Bank of India is becoming one of the first central banks to launch a pilot project for the creation of its virtual currency. The banking regulator comments that the pilot project for a retail version of the digital rupee will be launched in a month. While there have been a few test cases of CBDC, India is one of the first major economies to launch one for the wholesale sector. “The objective is to ensure that the operational part is fully functional before delving into other use cases and distributed ledger technology (DLT), which will come at a good time.” The regulator also said that settlement in central bank money would reduce transaction costs by avoiding the need for settlement collateral or collateral infrastructure to mitigate settlement risks. “In the future, other wholesale transactions and cross-border payments will be the focus of future pilots, depending on the learnings from this pilot,” the monetary authority said. The launch of the first pilot in the Digital Rupee-Retail (e-R) segment is scheduled in a month at selected locations in closed user groups comprising customers and merchants. What is the Digital Rupee? The Indian state-owned cryptocurrency will be used for transactions in the secondary market for government securities. The digital rupee can be used from November 1 “in the settlement of transactions in the secondary market for government securities”, i.e. investment products issued by the Indian state, the RBI said in a statement on Monday. According to the Indian bank’s finance minister, Sitharaman commented that blockchain technology it will give a big boost to the digital economy and lead to a more efficient and cost-effective currency management system. Is it possible to invest in the digital rupee? The idea of a cryptocurrency is that it is independent of any third-party institution. So one of the first differences to consider is that the future Indian currency will follow the regulations established by the RBI and its value will be equivalent to that of the real rupee. At present, several Caribbean countries and Nigeria are the only ones that have officially approved this method of payment, through a virtual version of their currency. Other nations, such as China, have launched pilot projects to evaluate the potential of this practice. It is because of the above mentioned that this cryptocurrency will function more than as a currency to invest and get a utility, it will function as a Stablecoin and a crypto payment method with service utilities offered by the bank of India.

Dogecoin’s cost has had an intense foment as Twitter’s purchase by Elon Musk approaches. The most representative meme cryptocurrency in the entire market is rising throughout a general recovery throughout this bearish year. And the foment could be being created, again, by billionaire Elon Musk. The chatter revolves around Musk’s purchase of the social network Twitter, which is reportedly close to fruition. Not only was Musk historically a public protector of cryptocurrency, but it is rumored that he will use it as a currency on the social platform. In recent days, Musk changed his Twitter specification to self-define himself as the leader of the social network (“chief twit”), and this Wednesday, October 26, he stopped by to see the company’s headquarters in San Francisco, USA. Musk and his dominance of the cryptocurrency market Not only one of his organizations, the electric vehicle manufacturer Tesla, has bought bitcoin for its treasury. In addition, the tycoon himself has opined on the pioneering cryptocurrency and has become involved in the debate about mining and its environmental effect. In one situation he achieved joking about being the CEO of the cryptocurrency, offered help to the developers of the plan, and in a sketch on the famous comedy show Saturday Night Live, mocked DOGE and labeled it “a scam”. His words have on many occasions moved the cost of Dogecoin, Bitcoin, or even another meme cryptocurrency, Shiba Inu.