In this article, we have curated a list of top five interesting crypto stories from this week that will make you stay in sync with the crypto ecosystem.
Ukraine, which is heavily affected by the ongoing war with Russia, has been witnessing human migration in large numbers to other countries in search of safe havens. And, one of those countries which has been open to Ukrainian crypto workers is Portugal. Among the European destinations, Portugal is already on its way to become a crypto hub with its zero-percent taxes on digital asset gains and affordable living costs.
In addition to the zero percent tax on crypto gains (gains generated from selling crypto assets are not subject to personal income tax unless they are considered a professional activity), Portugal also offers some foreigners a flat 20% tax on their income or a flat 10% tax on their pensions. With firms like NEAR protocol (with an Ukrainian founder) setting up shop, a lot of talent from neighboring countries like Spain are leaving for Portugal.
Exxon Mobil, the largest U.S. oil producer, is reportedly expanding its bitcoin mining pilot program to reduce the volume of natural gas it regularly burns off or flares into the atmosphere. The oil giant has partnered with Denver-based energy firm Crusoe to capture otherwise wasted surplus gas from their energy production, convert it into electricity, and use it to power data centers and bitcoin mining operations. Crusoe estimates that bitcoin mining allows CO2 related emissions to be diminished by over 60% compared to regular flaring.
FIFA, the governing body for many football tournaments around the world, has officially entered a partnership with a leading crypto asset exchange Crypto.com as the official sponsor for the 2022 Qatar World Cup that’s scheduled to take place this November. This deal is expected to reach a large audience on a global level given the 2018 World Cup was watched by over 3 billion people according to FIFA estimates.
As a part of this deal, Crypto.com’s branding will appear on the stadium surroundings for the FIFA World Cup Qatar 2022. The crypto exchange will also provide exclusive deals for its users to attend matches and win official merchandise as part of the sponsorship.
Global Microchip giant Qualcomm has announced a $100 million SnapDragon Metaverse Fund fund to support extended reality (XR), artificial intelligence (AI) and augmented reality (AR) tech companies. Extended reality refers to the headsets and glasses with AR and VR technology equipped. According to the firm, the funding will also go toward a grant program for developers building XR-focused gaming, health, wellness, media and entertainment experiences.
Chainlink Labs recently announced a program that will help new crypto projects to successfully build a business using blockchain. According to the firm, the program called Startup with Chainlink will help early-stage founders and entrepreneurs with free resources, community assistance and access to experts. It will let startups access scaling information, operations best practices, webinars, events and community groups. However, top projects will be reportedly able to access more benefits such as mentors and venture capitalists.
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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.