on November 8, Bank of Canada Governor Tiff Macklem reiterated the view that Bitcoin should not be classified as a currency: Bitcoin is not a digital currency, people aren't buying things with it. Our paper money is not going away, at least not while I'm governor. At the same time, the economy is indeed becoming more digital, and the epidemic has accelerated that trend. He stressed the need for international cooperation before cryptocurrencies can be used to support large-scale transfers. As previously reported, the Bank of Canada said it has no intention of issuing CBDCs anytime soon, but the situation could change if cash usage continues to decline.

Nov. 8，In the next few months, Tesla (TSLA.O) CEO Musk will face a stock options tax bill of more than $15 billion. He is likely to sell Tesla stock this year regardless of the outcome of the vote on Twitter. Musk received 22.8 million shares of stock awards in 2012 with an exercise price of $6.24 per share. Based on Tesla's closing price of $1,222.09 on Friday, Musk earned just under $28 billion through those options. By calculating that the total federal tax rate plus California state taxes would be 54.1%, Musk would have to pay $15 billion in taxes on these options. Musk is likely to sell his stock at least two quarters apart due to the limited window for CEO-level executives to sell their stock.

The European Central Bank needs to issue a digital euro because ceding space entirely to private sector-initiated initiatives such as stablecoins could jeopardize financial stability and weaken the role of central banks, said ECB Executive Committee member Fabio Panetta. The ECB has been working on designing a digital currency that would be issued directly by the central bank like cash, but the project could still take about five years to launch a real currency. Just as stamps lost much of their usefulness with the advent of the Internet and e-mail, cash could lose its relevance in an increasingly digital economy, and if that becomes a reality, it would undermine the effectiveness of central bank money as a monetary anchor," Panetta said. History shows that financial stability and public trust in money require public and private currencies to be widely used together. To that end, the digital euro must be designed to make it attractive for widespread use as a means of payment, but at the same time prevent it from becoming successful as a way to preserve value, resulting in a run on private currency and increasing the risk to bank operations." 

On November 8, Crypto.com's EVM-compatible chain Cronos announced the launch of its mainnet Beta, with key features including EVM support, the latest Cosmos SDK with IBC support, and the Cronos Bridge. In previous news, Crypto.com CEO Kris Marszalek recently tweeted that Crypto.com's EVM-compatible chain Cronos was motivated to test the network during Cassini, and the Cronos team found several issues related to the Cosmos cross-chain bridge Gravity Bridge and the go-ethereum library. To ensure a safe launch, the mainnet release date was changed to November 8.

 

Translated with www.DeepL.com/Translator (free version)

Elon Musk changed his Twitter name to Lorde Edge. It is unclear why he changed his Twitter name, after he posted a Chinese "Seven Steps Poem".

Nov. 3, 2012 - Crypto.com, a cryptocurrency trading platform, will release the UFC-licensed NFT series "UFC 268 Packs" on Nov. 4, which will include digital collectibles such as fight night art, event posters, championship belts, fighter characters and avatars.

A Connecticut jury on Nov. 3 held that digital assets associated with cryptocurrencies in a lawsuit are not securities. on Nov. 1, GAW Miners investor Stuart Fraser was exonerated in a fraudulent action involving ZenMiner LLC. attorney Hughes Hubbard & Reed LLP, the defendants' Daniel Weiner, one of the attorneys representing the defendants, told Law360, "This is the first case we know of where a jury has discussed whether a cryptocurrency product is a security." The jury ruled that four of GAW's products, including the cashier's check "hashpoints," the token "Paycoin" and the virtual wallet "Hashstakers "Stuart Fraser was also found not liable.

A team of Singaporean enthusiasts made nearly $1.4 million in just over an hour on Nov. 3 after launching a series of online digital trading cards tied to NFT. The Dark Zodiac team launched the project on Sept. 26 and all 3,876 cards were sold.