Weekly Update - Layer 1 & Layer 2 News (Week 46, 16/11/2021 - 22/11/2021)
El Salvador President Nayib Bukele reveals plans for $1B BTC bond issue, Bitcoin City.
‘Key Takeaways
El Salvador President Nayib Bukele announced plans to issue $1B in Bitcoin (BTC) bonds, through Blockstream’s Liquid sidechain. He also said that the bond’s proceeds will be used to build Bitcoin City, a new city based around Bitcoin with no tax beyond VAT.
Avalanche (AVAX) hit a new ATH of $144.96 after being listed on Binance.US, in addition to the recent announcement of a partnership between Ava Labs and Deloitte for the latter’s use of the Avalanche blockchain.
Crypto.com added Polygon (MATIC) support for Ethereum (ETH) deposits and withdrawals. At the time of writing, Cronos has processed 2.39M transactions, logged 85,499 unique wallet addresses, and is ranked #17 in terms of chain TVL on DeFi Llama.
Binance has integrated Arbitrum One, allowing its users to directly deposit funds through Arbitrum One without using the Arbitrum Bridge. Withdrawals via Arbitrum One are due to be implemented in the future.
Highlights
El Salvador to inaugurate Bitcoin City backed by $1B Bitcoin bonds
El Salvador to Issue $1B in Tokenized Bonds on the Liquid Network
Avalanche ($AVAX) Hits $120 Helped by Getting Listed on Binance.US, Up 3576% YTD
Big Four Accounting Firm Deloitte Forges Partnership With Ava Labs to Leverage Avalanche Blockchain
Crypto.com adds Polygon support for Ethereum deposits and withdrawals
Square Releases White Paper for Decentralized Bitcoin Exchange
Acala wins first Polkadot parachain auction with over 32M DOT staked
New zkSync sidechain brings privacy and decentralization at a few cents to Ethereum users
Blockchain Firm StarkWare Raises $50M Series C Round at a $2B Valuation
Blockchain.com set to unlock ZK-rollup scalability for a billion users
Crypto lender Celsius increases Bitcoin mining investment to $500 million