OTC’s Weekly Retrospect 27/09–01/10/2021

Every week we take a look back over the week’s biggest Bitcoin and Digital Asset stories making waves in the cryptosphere.

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Major news stories this week;

1. President of El Salvador Shares Video of Volcano-Powered Bitcoin Mining Facility.
2. Miami Mayor says China’s Crypto Crackdown ‘Creates Incredible Opportunity for America’ in Bitcoin Mining
3. Swiss Regulator Approves First Crypto Fund: Asset Manager Says ‘It’s an Exceptional Achievement’
4. New Zealand’s Reserve Bank Seeks Public Input on Digital Dollar Before December Deadline
5. Stablecoin Pegged to Peru’s Currency Launches on Stellar
6. Coach and GQ China to Release Six NFTs on Ethereum
7. Blockchain accounts for 10% of early-stage startups

Short Summaries;

1. The president of El Salvador shared a video via the social media platform Twitter that said “First steps,” as the film shows ASIC bitcoin mining rigs being installed at a geothermal energy plant. The video shows containers that are emblazoned with the Salvadoran government logos and a large quantity of ASIC mining devices. The video has been viewed around 2 million times on Twitter, and Bukele’s video tweet has over 50K likes and over 12,000 retweets.
2. Miami Mayor Francis Suarez, who has been trying to build his city into a bitcoin hub, sees the crypto crackdown by the Chinese government as an opportunity for his city and the U.S. He told Bloomberg, “The turning point is now. It creates an incredible opportunity for America.”
3. Switzerland’s Financial Market Supervisory Authority (FINMA) has approved the first Swiss crypto fund. It is managed by asset manager Crypto Finance and custodied by Seba Bank. “For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets,” said the regulator.
4. The Reserve Bank of New Zealand is seeking public input over how it should assess the use case for the country’s digital dollar. Two discussion papers titled “The Future of Money — Stewardship” and “The Future of Money — Central Bank Digital Currency,” released Thursday, are aiming to solicit public feedback before a Dec. 6 deadline. The bank announced it would begin discussions with the public earlier this year.
5. The first stablecoin pegged to Peru’s national currency, the sol, has launched on the Stellar blockchain. Latin American digital token issuer Anclap launched the stablecoin, which is 100% backed by local currency, according to an announcement. Digital sol can be purchased from wallets such as Solar and is exchangeable for the Argentine peso, the Brazilian real, the U.S. dollar, and other currencies.
6. Coach and GQ China’s content teams are working with Singapore startup ZKBox to release six limited-edition NFTs, according to a statement shared with CoinDesk. This is Coach’s first foray into NFTs, following in the footsteps of other luxury brands and celebrities. The brand worked with GQLab, GQ China’s content development team, to create “a unique interactive NFT experience,” the statement said. To win one of the six NFTs, fans can mix and match designs and submit their ideas through China’s Twitter-like platform Weibo.
7. Blockchain is one of the fastest-growing technologies in the world of startups, with a new report revealing that 10% of early-stage startups are focused on the technology. Blockchain ranks alongside artificial intelligence (AI), big data, and robotics as the fastest-growing technology trends. In the past five years, blockchain has experienced rapid adoption, going beyond digital currencies and finance to underpin social media, healthcare, supply chain management, big data, legal services, insurance, and many more sectors.

Wishing you a happy and relaxed weekend ahead from all of us here at OTC Supply… Happy Thursday!

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