The Daily Leo #406: Musk to Create a 'Giant Brain' on X, Bank of China's Settlement Using its CBDC [Plus More]

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Bank of China Completes First Precious Metal Digital Yuan Settlement

The Shanghai branch of the Bank of China announced that it has completed the first precious metal settlement using the digital yuan, the Chinese central bank digital currency (CBDC).

Accordingly, the bank worked closely with the Shanghai Gold Exchange to transact the funds received overseas with the digital yuan. The transaction involved paying $14 million in exchange for precious metals which is the second milestone the BoC in using the digital yuan this December after facilitating a $3.4 million transaction a settlement to Baosteel Group which marked the debut of the digital yuan in the commodities arena.

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Elon Musk Wants to Create a ‘Giant Brain’ and Financial Platform on X

Elon Musk says he hopes to turn X into a “giant brain” and pivot it into a financial platform once it secures money-transfer licenses.

During a 100-minute interview on X Spaces Thursday, Musk revealed to Cathie Wood, chief executive of ARK Invest that they want to create a group mind or collective consciousness where each person is reporting information to the system, and giving their opinion. "Think of it as a giant brain,” Musk said...

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Asian Shares Are Mixed After a Rebound on Wall Street

Shares were mostly higher in Asia on Friday after several strong profit reports helped Wall Street claw back most of its sharp losses from the day before.

Benchmarks fell in Hong Kong, Shanghai, Sydney and Bangkok but rose in Tokyo and Mumbai. U.S. futures fell while oil prices advanced. Japan's core inflation rate fell to 2.5% in November from 2.9% a month earlier as energy costs eased. Read further...

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Argentina legalizes Bitcoin for Contract Settlements

Argentina’s new government has officially legalized the use of Bitcoin and other cryptocurrencies for contract settlements and payments under a new economic decree.

This development comes amidst Argentina’s ongoing battle with hyperinflation and a weakened economy. The country’s new administration, led by its President has been exploring innovative ways to stabilize the economy and provide alternative financial solutions to its citizens.

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Solana Surge Continues, Now Flipping Binance’s BNB in Market Cap

A strong 18% surge in the price of Solana (SOL) over the past 24 hours has boosted the cryptocurrency to the fourth spot in market capitalization — the first time it’s done so in over two years.

The latest surge catapulted Solana’s market cap to $41.9 billion, overtaking Binance Chain’s BNB market cap of $41.8 billion. SOL is currently priced above $90, up over 15% on the day.

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The Countdown To Bitcoin Spot ETF And What It Means

We are about three weeks from the anticipated approval of a Bitcoin Spot ETF. To many, this will be a game changer for the industry. But what does it mean and why is it creating such a stir?

Gary Gensler has been against Bitcoin Spot ETFs for a number of years. The Securities and Exchange Commission (SEC) has turned down every application. Many thought this nuts since there are ETFs based upon futures contracts.

All of this is tied to the type of redemption that is used. There is the "in kind" method along with cash out. For Bitcoin, the SEC is requiring cash out. What does this mean?

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Gaming Scams ‘Red Flags’, Axie Evolves, Wall Street Games ‘Addictive’

Web3 Gamer shared some clear warning signs to look out for to ensure you don't fall victim to a blockchain gaming scam.

Read more to be informed and also to find out what Axie Infinity update is set to reshape the ‘Axie economy’, what Wall Street Games are said to be addictive and some other news.

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Rewards for Beta Testers: Studio Reputation for Unopened Packs

A web 3 simulation game built on top of Hive blockchain, Rise of the Pixels, where players manage game development studios is currently in its Beta testing phase.

The developers have published and shared a reward system that according to them will soon be official. Check it out for more details...

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