Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 5-11 October 2022
Kim Kardashian pays $1.26 million fine for crypto campaign
Celebutante Kim Kardashian has paid $1.26 million to the Securities and Exchange Commission (SEC) to settle charges related to her promotion of the EthereumMax digital token.
Kardashian promoted the cryptocurrency to her 328 million followers on Instagram in June 2021, sparking an investigation by the SEC.
According to the watchdog, the reality TV star failed to disclose the fact that she was paid a significant amount of money to advertise the token. While Kardashian posted the hashtag “#ad,” SEC Chairman Gary Gensler said in a press release disclosing the allegations that the law requires celebrities “to disclose to the public when and how much they are paid to promote investment in securities.”
The crackdown on Kardashian is part of a larger campaign by the regulator to protect amateur investors in the wake of the recent “crypto craze”.
Bitcoin bounces back amid easing Fed rate hikes
Bitcoin crossed the $20,000 threshold again on Tuesday in anticipation of slowing Fed rate hikes.
The bullish momentum of the flagship cryptocurrency is due in part to an announcement by the US Institute of Supply Management (ISM) that the manufacturing purchasing managers’ index (PMI) fell to 50.9 in September, the lowest since May 2020, from 52.8 in August. In particular, the index’s new orders and employment measures were reduced, strengthening the case for the Fed pivot.
“It has been a case of ‘bad news is good news’ for equities, with the market processing the downside surprise to the ISM index that increases the chances of an earlier Fed pause, seen as positive for risk assets,” the Bank of New Zealand survey said. made Tuesday.
Bitcoin tends to move more or less in line with stocks and has halved this year in terms of market capitalization, with the Fed raising interest rates by 300 basis points.
McDonald’s in a Swiss town now accepts Bitcoin, Tether
A McDonald’s located in the 63,000-population city of Lugano in the Italian-speaking region of Switzerland now accepts Bitcoin and Tether.
The region is becoming a hotspot for crypto adoption in Western Europe, and local franchisees are looking to get in on the action.
It was only a matter of time before the world’s largest fast food chain started accepting cryptocurrency. That day is finally here. If anyone was still on the fence about whether Bitcoin has staying power, the recent adoption of the world’s most valuable cryptocurrency by McDonald’s may be the final proof that it isn’t going away anytime soon.
On March 3, the city signed a memorandum of understanding with Tether Operations Limited, launching an initiative known as “Plan B.”
In addition to allowing the citizens of Lugano to pay their taxes using crypto, the project will extend payments to parking tickets, public services and school fees for students.
Will Tamadoge Be The First $1 Memecoin?
Memecoin project Tamadoge has been making waves this week, as the token’s price surged over 200% following several significant listings.
Crypto-hungry investors can now buy TAMA through centralized exchanges (CEX) such as OKX and BitMart, with the token also available on decentralized exchange (DEX) Uniswap.
OKX was the first major CEX to list Tamadoge last week, allowing traders to take advantage of the hype surrounding the project. According to CoinMarketCap, OKX has over 1.4 million weekly visitors and regularly handles more than $1.3 billion in daily trading volume.
Top 6 Altcoins Set to Explode in 2023 (According to AltCoin Daily)
