Crypto Market Cap | El Salvador creating Bitcoin City & Celsius Network expansion | Market Color
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â¢ El Salvador President Nayib Bukele announced that El Salvador will be creating a “Bitcoin City”, located on the Gulf of Fonseca near a volcano.
â¢ Also announced was El Salvador plans to issue $1 billion US “bitcoin bond”, developed by Blockstream, on the Liquid Network.
â¢ Samson Mow, Blockstream’s chief strategy officer stated that the $1 billion in tokenized bonds will be 10-year U.S.-dollar denominated and pay 6.5% initially.
â¢ Square has revealed their white paper for an unnamed decentralized protocol, dubbed “tbDEX.”
â¢ The authors of the paper noted “The tbDEX protocol approaches trust differently than other decentralized exchange protocols in the sense that it does not utilize a trustless model, such as atomic swaps.”
â¢ Celsius Network has added an additional $300 million of investment into Bitcoin mining investment. The investment will be used expand its proprietary Bitcoin mining hash rate and power capacity in North America.
â¢ Canaan has delivered 2,000 Avalon mining rigs to Kazakhstan, and their overseas-registered entity in Kazakhstan will start joint operations, with more batches of miners expected throughout the week.
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