WAO ART #329

Solana, a blockchain platform, is expanding to Brazil and investing over $10 million in Web3 projects. The Solana Foundation aims to empower its community and develop apps and experiences using the Solana blockchain.

The US SEC is reportedly close to approving a spot Bitcoin ETF, with trading expected to begin on January 11, 2024. Major financial firms like Blackrock and Fidelity are ready to launch their Bitcoin ETF products. This approval could signal a more standardized flow of institutional money into the crypto market.

The Australian government is investing $22 million in three rare earth projects to counter Beijing's export ban. The projects aim to develop the technology required for producing rare earth elements, which are vital in the manufacture of various products.

The European Central Bank (ECB) is seeking feedback on the latest draft of the rulebook for the digital euro. The draft sets the standards and procedures for the central bank digital currency (CBDC) and the ECB is encouraging feedback to shape the process.

Nigerian fintech startup, Cleva, has raised $1.5 million in a pre-Seed round led by 1984 Ventures. The funds will be used to expand its business of helping African individuals and businesses receive international payments by opening USD accounts. Cleva charges a 0.9% fee on deposits into customers' USD accounts.

SEC Chairman Gary Gensler has issued a warning about the risks of investing in cryptocurrencies ahead of the expected approval of Bitcoin Spot ETFs by the US Securities and Exchange Commission. Gensler highlighted the importance of compliance with laws, the volatility and risk associated with crypto assets.

Indian crypto companies are increasingly relocating to Dubai due to India's stringent tax regulations and uncertain legal framework surrounding digital currencies. The UAE's welcoming regulatory environment, low taxes, and ease of setting up businesses make it an attractive destination for these firms.