Daily Crypto NewsEDITION #345, 09 November 2021

Turning New York into a Gem City province?

🏙 Hey Moni Maker

Today, in 1972, the Bank of England required clearing banks to open special accounts to control the flow of money into circulation. Well, Big Brother was once a little kid just learning to keep track of every breath and every move of the financial structures. Years of experience, of course, gave him carte blanche, but...

Crypto is still unruly. Mr Bitcoin is already spitting on congressional laws and beating the new ATH. Well, Digest will help you not get trampled in this bullrun. Let's go!

New York will soon have its very own cryptocurrency—thanks to the city's Bitcoin-loving mayor elect.

Eric Adams last week said he wanted the city that he will soon run to have its own CityCoin: a cryptocurrency project that allows people to invest in a city by buying tokens.

Miami became the first U.S. city to launch its own CityCoin—MiamiCoin—in August. And New York will be next, CityCoins announced in a blog post today. The cryptocurrency will be called NYCCoin and users will be able to mine it from Wednesday.

So what?

Looking forward to New York City DAO, lectures on degen farming at universities, and the TV show Your X's.

Chinese law enforcement have confiscated crypto assets worth 400 million yuan, or $62.5 million, in a crackdown on an alleged Filecoin miner Ponzi scheme.

The Chinese police in the city of Xuzhou have arrested 31 people under allegations of conducting Ponzi schemes, who are associated with a Shanghai-based Filecoin miner maker IPFSUnion.

According to Xinhua news agency's report on Saturday, the local police seized crypto assets including ether, USDT and FIL as part of the crackdown.

The combined cryptocurrency market capitalization has surpassed $3 trillion for the first time on Monday as a number of top altcoins posted strong gains.

According to crypto analytics platform CoinGecko, which currently tracks over 10,000 coins across 517 trading platforms, the market cap of all assets increased by 4.1% over the last day, peaking at $3.019 trillion.

So what?

Great! There is no need to go to McDonald's for now. For now!

It's effortless to forget about BTC; now, it's fashionable to follow newcomers in the market. But guess what? Bitcoin is expecting a Taproot update on November 16. What's in it for you?

It's not just another update that will pass muster. It could, indeed, be revolutionary.

Taproot brings with it positive changes such as more vital cryptography, better privacy, and lower fees.Hold, Bro.

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