Headlines
▌FinTech NGR and HUAWEI CLOUD jointly released a white paper on the adoption of FinTech cloud, including cryptocurrencies
FinTech NGR, the Nigerian National Financial Technology Association, and Huawei Cloud, a global information and communication technology (ICT) infrastructure and smart device provider, released the "Nigeria FinTech Cloud Adoption White Paper" in Lagos. The acceptance and consumer acceptance of the solution continues to increase. It is reported that the "Nigeria FinTech Cloud Adoption White Paper" contains six main parts of the financial technology industry, namely: payment, mobile money and digital banking; lending; savings, investment and crowdfunding; enterprise services and infrastructure; cryptocurrency; insurance science and technology.
Policies
▌ECB Executive Committee: All necessary measures will be taken to ensure that the digital euro becomes a real public good
The ECB set out its current thinking on a digital euro in a progress report in April. ECB Executive Board member Fabio Panetta said in a speech introducing the findings that we will take all necessary steps to ensure that the digital euro becomes a genuine public good. But all European institutions must play their part to achieve our common goal of making the digital euro a success.
Cryptocurrency
▌Data: USDC market share has dropped from 34.88% to 23.05%
In the past year, the USDC market share has dropped from 34.88% to 23.05%, and the market value has dropped from a peak of 55 billion US dollars to 29 billion US dollars. BUSD’s market share plummeted from 11.68% to 4.18%, while Dai maintained its participation rate at 3.66%, down from 4.05% in May 2022. The trend of USDT is opposite, and the dominance of the stablecoin market has risen from 47.04% a year ago to 65.89%. Its market value soared to $83.1 billion. In a recent interview with Bloomberg, Circle CEO Jeremy Allaire blamed the US regulator’s crackdown on cryptocurrencies for the decline in the stablecoin’s market value. The current environment in the US appears to be working in Tether's favor.
▌"Grand Theft Auto 6" may introduce cryptocurrency rewards
The action-adventure game series "Grand Theft Auto" (GTA) may introduce cryptocurrency rewards in its upcoming game upgrade "Grand Theft Auto 6" (GTA 6), which is expected to be released in 2023 or 2024. The game intends to integrate blockchain technology to implement a cryptocurrency-based reward system, and is expected to use Bitcoin as one of the payment methods and reward tokens. As of now, Rockstar Games, the developer of the "Grand Theft Auto" game, has not issued an official statement about (adding) encrypted assets, and the company has previously stated that it prohibits third-party servers from using cryptocurrencies or NFTs.
▌Bitcoin and Ethereum Rise as US Lawmakers Scramble to Dodge Historic Debt Default
Cryptocurrency prices saw some lift over the weekend as lawmakers on Capitol Hill appeared less likely to trigger the first-ever debt default in US history. Republican House Speaker Kevin McCarthy and President Joe Biden were inching closer to a finalised deal on America’s debt ceiling on Sunday and assessing the support they have to pass legislation this week, per the Associated Press. Meanwhile, Bitcoin had climbed 2.9% over the past day to around $27,500, according to CoinGecko. Ethereum was up 1.4% to around $1,850 as well, as both coins posted gains of 2.5% over the past week. Some altcoins, including Cardano and Solana, outpaced those gains, rising 3.4% and 5.2%, respectively, according to CoinGecko. The only top-20-coin by market capitalisation in the red was Tron’s TRX, down 0.4% to $0.076 over the past day. But Tron still had a good week overall.
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