About Conflux$CFX

The TreeGraph Blockchain Research Institute was founded with the support of the Shanghai Municipal Government, based on the research and development of the Conflux blockchain underlying system public chain. It was founded by Dr. Long Fan, a professor at the University of Toronto, and the only Chinese Turing Award winner, the famous computer scientist Academician Yao Qizhi, serves as the chief scientist

Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. It uses a hybrid PoW/PoS consensus mechanism to ensure a fast, secure and scalable blockchain environment. With Conflux, congestion can be eliminated, fees can be kept low and network security can be enhanced.

As China's leading regulatory-compliant public blockchain
Conflux offers unique advantages for projects seeking to enter the Asian market. The platform works with well-known global brands and government agencies in the region to promote blockchain and metaverse initiatives. Notable partners include the city of Shanghai, China Telecom, Xiaohongshu (China’s “Instagram”), McDonald’s China, and Oreo, among others

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Remember to sign in daily at Binance Exchange. Points can be exchanged for BNB spot transaction fees
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Litecoin's hash rate continues to soar. Currently charging at 1.4 PH/S, the chart below shows the history over the past 13 years.
$LTC runs 1,400,000,00,00,000 hashes per second
$LTC
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Bhutan surpasses El Salvador to become the third largest holder of Bitcoin

On September 20, the on-chain analysis platform revealed that Bhutan has become a major holder of Bitcoin, surpassing El Salvador's holdings in cryptocurrencies, according to data from Arkham Intelligence. Bhutan holds 13,029 Bitcoins, worth approximately $758 million.

This makes Bhutan the largest Bitcoin holder in South Asia, surpassing El Salvador, which holds 5,875 Bitcoins worth $331 million.

These Bitcoin holdings are related to Druk Holdings and Investments (DHI), an investment institution of the Kingdom of Bhutan, which uses the country's abundant hydropower resources for Bitcoin mining. Arkham Intelligence confirmed the mining activities at the site of the former Education City project in Bhutan by combining on-chain data and satellite imagery.

In addition to Bitcoin, Druk Holdings also holds 656 Ethereum, worth approximately $1.5 million, in addition to a small amount of BNB and Polygon, further diversifying its cryptocurrency portfolio.

The specific data of Bitcoin holdings of various governments are as follows: US$12.16 billion in the United States, US$3.67 billion in the United Kingdom, US$782.46 million in Bhutan, and US$351.75 million in El Salvador. It is worth noting that Germany has dropped from US$3.56 billion to zero.
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On September 18, BlackRock released the report "Bitcoin: A Unique Diversifier", which stated that Bitcoin is clearly a "risky" asset in isolation due to its high volatility. However, most of the risks and potential return drivers facing Bitcoin are fundamentally different from traditional "risky" assets, which makes it unsuitable for most traditional financial frameworks - including the "risk-on" and "risk-off" frameworks adopted by some macro commentators.

The nature of Bitcoin as a scarce, non-sovereign, decentralized global asset leads some investors to view it as a safe option to turn to during periods of fear and certain geopolitical disruptive events. In the long run, Bitcoin's adoption trajectory is driven by strong concerns about global monetary stability, geopolitical stability, U.S. fiscal sustainability, and U.S. political stability. This is contrary to the relationship that is often attributed to traditional "risk assets" with such forces.

Bitcoin's long-term performance shows low correlation with stocks and bonds, which makes it attractive for diversification. Although in the short term, Bitcoin's price movements occasionally move in sync with traditional risk assets, these are considered temporary phenomena. The report's conclusions once again emphasize that Bitcoin's unique characteristics may make it a hedge against risks that traditional assets cannot cope with, especially in the face of increased geopolitical and economic uncertainty.
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The country will formulate rules for cross-border payments of cryptocurrencies by the end of November

According to reports, Anatoly Aksakov, chairman of the Russian State Duma Financial Markets Committee, said that the Russian Central Bank and the Ministry of Finance are developing regulations to formulate rules for cross-border payments of cryptocurrencies. The government aims to complete these regulations by the end of November. The Russian government will first test the cryptocurrency payment mechanism under the experimental legal system (EPR), meaning that only selected participants such as credit institutions and banks can participate in the process, which aims to minimize risks and help formulate regulations to protect the market from fraud. Aksakov revealed that companies are already using cryptocurrencies for import and export payments, with transactions estimated at billions of dollars, emphasizing that it is necessary to limit the number of financial institutions involved in these transactions in the initial stage in order to better understand the market and formulate effective regulatory provisions.
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Historic breakthrough! The UK includes Bitcoin in personal property
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The Digital Assets and Other Property Bill introduced by the UK Parliament on September 11 marks a major shift in property law in England and Wales.

Under this bill, Bitcoin and other digital assets are considered personal property for the first time. The passage of the bill will provide greater legal protection for digital assets such as cryptocurrencies, non-fungible tokens (NFTs) such as digital art, and carbon credits.

Previously, digital assets were not clearly defined within the scope of property law in England and Wales, which resulted in owners falling into a legal gray area when digital assets were infringed. The new bill will provide legal protection for digital asset owners and companies to prevent fraud and scams, while helping judges deal with complex cases involving digital assets, such as disputes in divorce property division.

Attorney General Heidi Alexander said:

“Our world-leading legal services sector is a vital part of the economy, driving growth and keeping the UK at the heart of the international legal industry. Ensuring the law keeps pace with technological developments is vital. This legislation will help the legal industry continue to lead the world in crypto assets, while bringing clarity to complex property cases.”

The passage of this legislation also means the UK legal industry will be better prepared to respond to emerging technologies, attracting more business and investment. The UK legal services sector contributes £34 billion to the economy every year.

It is estimated that English law governs £250 billion worth of mergers and acquisitions worldwide and accounts for 40% of corporate arbitration cases worldwide. Therefore, ensuring the law keeps up to date is vital to keeping the UK at the forefront of the choice of law internationally
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Musk holds nearly 19,800 bitcoins worth more than $1 billion

CoinGape reported earlier that Tesla and SpaceX, owned by Musk, known as the "father of Dogecoin", hold nearly 19,800 bitcoins in multiple wallets, worth more than $1 billion. Arkham Intelligence claims that the reserves are scattered across multiple wallets: Tesla holds about 11,500 bitcoins in 68 addresses, while SpaceX holds about 8,300 in 28 wallets. This shows that more and more companies are bullish on the crypto market leader. The company has not sold any bitcoins in the past two years. The last major transaction of 1,260 bitcoins to the cryptocurrency exchange Coinbase occurred on June 10, 2022.

In recent years, institutional demand has driven the growth of the asset, with its price soaring to more than $73,000 in the first quarter of 2024 before sliding to current levels. Musk's recent post on Twitter (now renamed X) for "Department of Government Efficiency" or "DOGE" has sparked market optimism about Dogecoin (DOGE). The price of Dogecoin has risen by 12% in the past few days, sparking speculation about whether Musk's positive news can push Dogecoin to $1.

According to reports, SpaceX and Tesla's Bitcoin holdings have remained unchanged for many years, indicating that they plan to continue holding these assets, which is an important factor in considering this round of Bitcoin's rise. Bernstein analysts predict that if former US President and Republican presidential candidate Trump wins this presidential election, Bitcoin will rise to $90,000
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