Crypto Market Highlights July 28, 2022
- Solana’s “Solana Spaces” Store Coming Soon. A themed store called “Solana Spaces” will officially open in Hudson Yards, New York by the Solana Foundation. This space is positioned as a “cultural center” and “embassy” of Solana. In addition to basic tutorials, the space will also display and sell artwork and a wide variety of Solana-branded items, including a limited number of Blanksoles sneakers. Ahead of its grand opening, Solana Spaces opened its doors last weekend to a group of 30 early visitors. Although not yet officially open to customers, the store has already made a significant splash on social media.
- El Salvador Seeks To Buy Back $1.6 Billion In Debt To Quell Fears Of Default. El Salvador President Nayib Bukele tweeted on July 26 that he had sent two bills to parliament to ensure that the country had the funds to make a “transparent, public and voluntary” purchase offer for all, including holders of Salvadoran sovereign debt bonds. Bukele added that bonds between 2023 and 2025 would be redeemed at market prices, starting in about six weeks or early September.
- Meta’s Metaverse Segment Experienced A $2.8 Billion Loss In Q2 2022. Reality Labs, the company’s metaverse branch, posted fourth-quarter earnings of $452 million, a decrease from $695 million in the first quarter. In the first quarter of 2022, the division previously reported a $2.9 billion deficit. With total sales for the second quarter of 2022 coming in at $28.82 billion, below projections of $28.9 billion for the quarter, the firm underperformed overall on Wednesday. Earnings per share were $2.46, which was less than the $2.54 expectation.
- Rio de Janeiro Goes Ahead With Bitcoin Integration Plans. Rio de Janeiro’s finance and planning secretary, Andrea Senko, recently revealed in an interview that her team is looking to drive Bitcoin adoption by adding digital assets to the city’s treasury portfolio. Senko believes that by integrating Bitcoin into the financial, social, and technological framework of Rio de Janeiro, the city can position itself as a destination for digital currency enthusiasts (from all over the world) and establish itself as Brazil’s leading crypto hub.
- Terra CEO Do Kwon Now Receives a “Notice on Arrival” In South Korea. South Korean prosecutors looking into the Terra scandal have requested that CEO Do Kwon get a “notice upon arrival” from the Ministry of Justice. According to the local media outlet Herald Corp, the investigators have also allegedly requested a travel ban for Daniel Shin, a co-founder of Terraform Labs. If and when Kwon crosses South Korean territory, investigators will get a “notice upon arrival.” Such actions are conducted in the course of a pressing inquiry in which the suspect has escaped the area of authority. Kwon is reportedly now residing in Singapore.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Crypto Market Highlights July 28, 2022
Crypto Market Highlights July 28, 2022
- Solana’s “Solana Spaces” Store Coming Soon. A themed store called “Solana Spaces” will officially open in Hudson Yards, New York by the Solana Foundation. This space is positioned as a “cultural center” and “embassy” of Solana. In addition to basic tutorials, the space will also display and sell artwork and a wide variety of Solana-branded items, including a limited number of Blanksoles sneakers. Ahead of its grand opening, Solana Spaces opened its doors last weekend to a group of 30 early visitors. Although not yet officially open to customers, the store has already made a significant splash on social media.
- El Salvador Seeks To Buy Back $1.6 Billion In Debt To Quell Fears Of Default. El Salvador President Nayib Bukele tweeted on July 26 that he had sent two bills to parliament to ensure that the country had the funds to make a “transparent, public and voluntary” purchase offer for all, including holders of Salvadoran sovereign debt bonds. Bukele added that bonds between 2023 and 2025 would be redeemed at market prices, starting in about six weeks or early September.
- Meta’s Metaverse Segment Experienced A $2.8 Billion Loss In Q2 2022. Reality Labs, the company’s metaverse branch, posted fourth-quarter earnings of $452 million, a decrease from $695 million in the first quarter. In the first quarter of 2022, the division previously reported a $2.9 billion deficit. With total sales for the second quarter of 2022 coming in at $28.82 billion, below projections of $28.9 billion for the quarter, the firm underperformed overall on Wednesday. Earnings per share were $2.46, which was less than the $2.54 expectation.
- Rio de Janeiro Goes Ahead With Bitcoin Integration Plans. Rio de Janeiro’s finance and planning secretary, Andrea Senko, recently revealed in an interview that her team is looking to drive Bitcoin adoption by adding digital assets to the city’s treasury portfolio. Senko believes that by integrating Bitcoin into the financial, social, and technological framework of Rio de Janeiro, the city can position itself as a destination for digital currency enthusiasts (from all over the world) and establish itself as Brazil’s leading crypto hub.
- Terra CEO Do Kwon Now Receives a “Notice on Arrival” In South Korea. South Korean prosecutors looking into the Terra scandal have requested that CEO Do Kwon get a “notice upon arrival” from the Ministry of Justice. According to the local media outlet Herald Corp, the investigators have also allegedly requested a travel ban for Daniel Shin, a co-founder of Terraform Labs. If and when Kwon crosses South Korean territory, investigators will get a “notice upon arrival.” Such actions are conducted in the course of a pressing inquiry in which the suspect has escaped the area of authority. Kwon is reportedly now residing in Singapore.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
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