Coin circle news focus:

  • U.S. lawmakers advocate legislation to combat cryptocurrency-funded terrorism

  • Nigeria’s stablecoin and Bitcoin usage rises 9% despite bear market trend

  • Binance Labs invests, decentralized social project CyberConnect currency rises 30%

The currency circle boss said this:

  • Pump: "Bitcoin challenges the status of bonds and becomes a new generation of safe-haven assets?"

Critical hit chance this week:

  • 🚀《Investing in Blockchain from Scratch》|〈Binance〉x〈Chain Apprentice〉Collaboration Lecture

Prices of Bitcoin and other cryptocurrencies | CoinGecko Top 100 Cryptocurrencies (2023.10.25 AM 08:00 ~ 2023.10.26 AM 08:00

Coin News Focus

U.S. lawmakers advocate legislation to combat cryptocurrency-funded terrorism

U.S. Congressman Sean Casten recently stated that he plans to introduce legislation that would require the cryptocurrency industry to more comprehensively comply with the Bank Secrecy Act. Congressman Elizabeth Warren, a well-known non-supporter of cryptocurrency, joined hundreds of lawmakers. The co-signers’ cryptocurrency demands to combat terrorism have the same goal.

The move comes as the Hamas group raised millions of dollars in cryptocurrencies before launching attacks on Israel earlier this month. Sean Casten said he would introduce a bill similar to Elizabeth Warren. The congressman previously advocated in July that the scope of the Bank Secrecy Act need to be expanded to control other digital asset wallet providers, miners, etc. Cryptocurrency industry players, this legislation is worth watching.

 

Nigeria’s stablecoin and Bitcoin usage rises 9% despite bear market trend

According to foreign media reports, Chainalysis’ latest global cryptocurrency adoption report shows that despite the current bear market, Nigeria’s stablecoin and Bitcoin usage has increased by 9% in the past two years, making it the only country in the world in a bear market. One of six countries with growing trading volumes.

The report analyzed that after adjustments to financial policies, the current value of Nigeria's national currency against the US dollar has fallen by 65%. More and more families and businesses are turning to stablecoins and Bitcoin to preserve wealth and make payments. Bisola Asolo, founder of Web3 payment platform Super, said that stablecoins are "Africa's killer cryptocurrency application." He pointed out that the reason why stablecoins can be adopted is because they serve as an asset preservation tool, compared to local currencies. Said to be more reliable.

 

Binance Labs invests, decentralized social project CyberConnect currency rises 30%

The Binance Labs venture capital arm currently announced that they have continued to invest in the decentralized social project CyberConnect, and its native token CYBER once rose by 30%. Still, the price is well below last month's all-time high of $15.

Binance Ventures Labs said they are quite optimistic about SocialFi’s potential to push Web3 into the mainstream market. CyberConnect is a platform dedicated to empowering users to establish digital identities, allowing them to truly take ownership of content creation and interaction on the Internet.

 

Other currency news

  • The chairman of the U.S. House of Representatives is appointed by Republican Mike Johnson, and the cryptocurrency bill can continue to advance.

Full version of Lian Xi’s birthday report

Watch the boss’s views and critical attack opportunities this week

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