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Bitcoin trades at over 3% discount in India

Bitcoin and other cryptocurrencies are trading at a discount in India after the country’s government listed a crypto bill in Parliament for discussion yesterday. At the time of writing, bitcoin at WazirX is trading at around 40,90,000 Indian rupees (around $54,900) compared to $56,750 on Binance — a difference of over 3%, which is significant. The discount was over 15% last night and earlier this morning on various Indian crypto exchanges, but it appears to be narrowing now. Source: WazirX …

Deribit Company Intelligence Report

November 23, 2021, 3:43PM EST • 19 min read Quick Take Largest crypto options exchange by open interest and volumes Offers institutional level services such as co-location, market maker protection, and portfolio margin ~$12.5 billion YTD October 31, 2021 derivatives total trading volume and +194% increase in monthly trading volumes YTD Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, …

Fold launches Pokémon GO-like game that rewards players in bitcoin

Fold, a crypto firm that operates a debit card and an app to provide bitcoin cashbacks for shopping, has launched a Pokémon GO-like game that rewards players in bitcoin. The game was first announced in August when Fold opened a waitlist for it. Today the game has been officially launched, and Fold said it has partnered with the Pokémon GO creator Niantic for the same. The game is called Fold AR (augmented reality) and is available within the Fold app. It allows …

IMF warns El Salvador of bitcoin-related risks in new statement

El Salvador should not use bitcoin as legal tender due to the financial and consumer risks it poses, International Monetary Fund (IMF) staff wrote in a concluding statement related to a mission in the Central American country.  “Given Bitcoin’s high price volatility, its use as a legal tender entails significant risks to consumer protection, financial integrity, and financial stability,” the November 22 IMF communication states. “Its use also gives rise to fiscal contingent liabilities. Because of those risks, bitcoin should …

Here’s how El Salvador’s president plans to use bitcoin bonds

El Salvador’s president, Nayib Bukele, is planning to use a so-called bitcoin bond to fund a new municipality called “Bitcoin City,” which would be powered with geothermal energy from a volcano.  Bukele announced the plan in the late evening of Nov. 20, speaking on stage during an elaborate grand finale to wrap up the LABITCONF conference. He was also joined by Blockstream chief strategy officer Samson Mow. The same night, The Block reported that El Salvador struck a deal with …