● Binance Middle East and North Africa Expansion and Operations Director: Cryptocurrency will exist for a long time
According to Yahoo Finance, Bader Kalooti, Binance's director of expansion and operations in the Middle East and North Africa, expressed his optimism about blockchain technology and cryptocurrency in a podcast. He emphasized that Web3 and blockchain technology have brought innovation and efficiency improvements to the Middle East and Africa. Kalooti said that Web3 is no longer just a "copy and paste" element in the Middle East and North Africa. It is a new paradigm. Binance is actually innovating new technological trends in the region. At the same time, Binance is also committed to raising public awareness of cryptocurrency and blockchain technology to promote large-scale technological adoption. By launching the "Blockchain for Everyone" course, translating the content into Arabic, and introducing the basics of Web3 in an easy-to-understand way, students who complete the course will receive an NFT certificate, hoping to reduce potential users' suspicion and uncertainty about new technologies.
In addition, regarding Dubai and why it has become the world's "cryptocurrency center", he pointed out that the global liquidity cycle is an important short-term driver that has promoted the development of cryptocurrency and blockchain technology in the Middle East and Africa.
At the same time, Kalooti emphasized that blockchain technology can bring efficiency and transparency to the financial and technological fields in these regions. Kalooti also pointed out that although the total market value of the cryptocurrency market is only $1 trillion, the market will continue to grow as more applications and investors join.
● CZ: A new BNB destruction will be carried out in the next few days
Binance founder and CEO Changpeng Zhao (CZ) wrote, “BNB is a fair launch token. No one gets free BNB tokens from the initial supply. Team tokens have never been moved or used, but only destroyed. A new BNB destruction (quarterly destruction) will be carried out in the next few days.”
● Fed's Bostic: We don't need to raise interest rates anymore
According to Jinshi, Fed's Bostic said: "Most of our policy effects have not yet appeared, and I don't think we need to raise interest rates anymore; but if the outlook changes, further rate hikes may be needed. However, it is not my current expectation that interest rates may need to be raised in the future. The Fed is looking for a new equilibrium state of interest rates."
● Fed's Kashkari: Further rate hikes may be needed if the economy becomes more resilient
According to Jinshi, Minneapolis Fed President Kashkari said that if the economy is more resilient, further interest rate hikes may be needed. Higher bond yields will reduce the Fed's room for action. But if the rise in long-term yields is due to market expectations of the Fed's actions, it may be necessary to stick to the end and deliver on its promises.
● Zimbabwe launches gold-backed digital token ZiG
Zimbabwe Gold (ZiG), a digital token backed by gold in Zimbabwe, was officially launched as a payment method on October 5, Cointelegraph reported. The Reserve Bank of Zimbabwe (RBZ) announced the news. The RBZ first launched this new project in April 2023.
The Reserve Bank of Zimbabwe noted that each digital token issued will be backed by a certain amount of gold held in the bank’s reserves. Last year, RBZ began issuing physical gold tokens and claims successful adoption. The mission behind the physical coins and the newly launched ZiG is to convince local investors to put their money into national assets instead of dollars, which is not easy in a country with triple-digit inflation levels. ZiG can be stored in an e-gold wallet or e-gold card and can be used for P2P and commercial transactions.
● Web3 Foundation will deploy $22.08 million and 5 million DOTs next year to help promote the development of Polkadot
Polkadot development organization Web3 Foundation announced a new program to reward teams and individuals who want to contribute to the success of Polkadot. It will deploy 20 million Swiss francs (approximately US$22.08 million) and 5 million DOTs (approximately US$19.3 million) throughout 2024.
Web3 Foundation said this enhances the Polkadot Treasury’s community governance funding mechanism to help projects that have a meaningful impact on the future of Polkadot, and will share more details about the official launch date and how to apply for funds in the coming weeks.
● Scroll mainnet has generated a genesis block
According to official news, the Scroll mainnet, the Ethereum second-layer network based on ZK Rollup, has generated the genesis block.
