Daily Crypto NewsEDITION #315, 28 September 2021

Why, Mr. Zuckerberg?, Why, why?

Hey Moni Maker

Today is Rabies Day all over the world. Ah, so bad there is no vaccine against FOMO, and rabid traders are ready to kill even their favourite cat because of a bad deal during dump time.

Breath in. Breathe out. Get zen. Losing money is just the way to greater riches. Digest knows it! Let's go!

As Decrypt reports, Facebook co-founder and CEO Mark Zuckerberg said in June that the social media giant is on a path to become “a metaverse company.” Now the firm is putting its money where its mouth is, revealing plans to spend $50 million over the next two years to help bring the metaverse to life.

Today, Facebook announced the XR Programs and Research Fund, a two-year initiative to fund its own projects and external research as the firm explores the future of online social interactions. It’s a “starting point” for Facebook, per the announcement, as it attempts to co-create the future online metaverse.

What is metaverse? Check below!

So what?

Mr Zuckerberg will very soon be electing individuals who sit in the Senate and presidents a little later.

All life has already virtually gone online. And the metaverse is the logical conclusion of the struggle between offline and online.

Binance customers in Singapore will no longer be able to access a number of services on Binance.com as of October 26, 2021, per a statement made by the exchange today.

These services include fiat deposit services, spot trading of cryptocurrencies, and the purchase of cryptocurrencies through fiat channels and liquid swaps.

“We will be restricting Singapore users in respect of the Regulated Payments Services in-line with our commitment to compliance,” Binance said in the statement. The Binance Team also advised Singapore users to cease all related trades, withdraw fiat assets and redeem tokens on October 26 by 04:00am UTC to “avoid potential trading disputes.”

That's almost precisely what Jamie Dimon, head of JPMorgan Chase, said.

"Bitcoin price could 10x in the next five years." - the actual quote.

Would we agree?

Canadian financial regulators, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC), have published a joint guidance letter to remind crypto trading platforms about the importance of “requirements relating to advertising, marketing, and social media use.”

In the document published last Thursday, the regulators outlined the three main areas of concern: ads and marketing materials that “could be considered false or misleading,” the use of gambling-style contests, promotions, or schemes, and “compliance and supervisory challenges” of using social media platforms for advertisements.

“We have recently noted some [crypto platforms] using advertising or marketing strategies that include contests, promotions, bonuses and time limits to encourage investors to engage in trading and to act quickly for fear of missing out on an investment opportunity or a reward,” the regulators pointed out.

Metaverse is a virtual world where you can buy and sell land, buildings, nicknames, and avatars using cryptocurrency. Here you can walk around with friends, like in games, visit facilities, events, and buy goods and services.

And more you can find in our Glossary!

And you...buy Bitcoin! (it's a good time!)