The public is choosing cryptocurrencies over CBDCs, sending the IMF into a panic. Daily news 28/11 below
The public is choosing cryptocurrencies over CBDCs, sending the IMF into a panic.
Through a trial program run by the BOK (Bank of Korea) and financial regulators, South Koreans will get the chance to use deposit tokens based on a CBDC (central bank digital currency) next year.
100,000 people will use CBDCs, which are commercial banks’ deposit tokens that function similarly to shop vouchers, to make purchases.
The announcements made by the BOK occur just one week after the International Monetary Fund’s (IMF) managing director, Kristalina Georgieva, pushed nations to move more aggressively toward CBDCs.
Eleven nations have introduced CBDCs thus far, including Nigeria and many Caribbean nations. Over 120 nations are investigating CBDCs.
Additionally, the IMF just released the first chapter of a “virtual handbook” to assist nations in putting interoperable CBDCs into place.
However, acceptance of CBDCs has been minimal in the countries that have attempted to implement them.
Comparing the endeavor to a sea voyage, Georgieva remarked,
If anything, in order to gain more speed, we must raise another sail. The world is evolving more quickly than most people realized.
The IMF fears that if they can’t come to an agreement on a standard platform for CBDCs, there will be a need that bitcoin will probably fill.
The IMF’s warning coincides with the growing popularity and attention of cryptocurrencies, indicating that they may someday prove to be a competitive substitute for conventional fiat money.
A Whale appears again active after hibernation
1 hour ago, Whale “0x0111” deposited 5K $ETH = $10.15M to #Binance after 1 year of inactivity
This Whale accumulated a large amount of $ETH from #Huobi since 3 years ago with an average entry of $340
1 year ago, this Whale also withdrew a large amount of $ETH from #Binance at a price of $1300
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Through transactions, it can be seen that this large investor has quite good trading skills and choosing the right time to enter/exit the market.
The Other News
November is only a few days away, lowcap altcoins are still increasing well. However, the good news does not have any outstanding news, there is no leader leading the market and there is a key trend!
- $ATOM – Founder of Cosmos initiated a fork to “AtomOne” due to opposition to the proposal “ATOM production reduction”
- $GOOD – Good Entry sold out IDO in 20 seconds on Arbitrum!
+) $RVN – Ravencoin belongs to PoW
+) $MOC – Mosscoin belongs to Metaverse/VR/AR
▪️ Matr1x has raised another $10M
+) An NFT game company based in Singapore
+) Find Satoshi Lab – maker of the upcoming StepN + Gas Hero – also invested.
▪️ iPeakoin closes Series A with $10M
+) A solution to build a neobank connecting TradFi and Crypto
+) The founding team are Stanford + University of Michigan alumni
+) Experience from Google, Meta, Visa and Ant Financial
- “Next Block Expo (NBX)” will be held in Berlin from December 4
+) 2.5K registered participants / 160 speakers
+) Binance, Coinbase, Animoca, Scroll, Polygon
→ Many insights for the uptrend plan!
- SBI Holdings signed a cooperation agreement with Circle
+) Expand USDC to Japanese businesses and users
+) Enhance liquidity and convenience for users when trading with USDC
