Breaking crypto news from the last week (Oct. 30 – Nov. 5, 2021):
30 Oct.: Celebrity investor Kevin O’Leary claimed that sovereign funds in Saudi Arabia and the UAE represent the “real opportunity” for transforming the crypto marketplace, speaking in a recent interview with Anthony Pompliano on The Best Business Show.
31 Oct.: Little-known cryptocurrency Mana surged by 400% over the weekend after Facebook announced changing its name to Meta. Mana is the native token of Decentraland, a self-proclaimed metaverse crypto platform where users can buy and sell virtual assets. Crypto investors believe Facebook’s rebrand is a sign of the growing interest in the metaverse trend.
01 Nov.: A cryptocurrency based on the hit Netflix show Squid Game spiked 40,000% in its first few days of trading and then has crashed 99.99% on Monday. The anonymous scummers behind the SQUID token have officially pulled the rug on the project, making off with an estimated $2.1 million.
02 Nov.: Dubai expects more than 1,000 cryptocurrency businesses to be operational by 2022, said the chief of the Dubai Blockchain Centre at Gitex Global in Dubai. A growing number of institutional investors and wealth managers plan to increase their exposure to crypto-assets between now and 2023, which accelerates efforts to boost its digital economy.
High-speed blockchain platform Polkadot has recently passed a proposal that enables registration and crowd loans for developers. In response to the news, Polkadot’s native token DOT has climbed 15% to an all-time high in prices and is currently at $51.57.
03 Nov.: Chinese central bank official said Wednesday that about 140 million people had opened wallets for China’s digital yuan (or “eCNY”) as of October and used it for transactions totaling around 62 billion yuan (or $9.7 billion).
04 Nov.: Game publisher Electronic Arts (EA) has told investors that collectible NFTs are “an important part of the future of our industry.” EA’s CEO sees promise for tracking in-game collectibles and “play-to-earn” schemes.