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šŸŒ™ Brazil Considers a Strategic Bitcoin Reserve

A Brazilian bill proposes creating a national Bitcoin reserve managing up to 5% of international reserves.

Author

Mike Gavela
November 26, 2024

In partnership with

Crypto Roundup - November 26

Recent developments in the cryptocurrency sector highlight significant legislative, corporate, and market activities. In Brazil, Federal Deputy Eros Biondini introduced a bill to establish the Sovereign Strategic Reserve of Bitcoins (RESBit), aiming to allocate up to 5% of the nation's international reserves to Bitcoin. This initiative seeks to diversify assets and support Brazil's central bank digital currency (CBDC). Concurrently, TRON founder Justin Sun has been appointed as an advisor to Donald Trump's decentralized finance project, World Liberty Financial (WLFI), following a $30 million investment by HTX, a crypto exchange closely linked to Sun. On the market front, Bitcoin's price has declined below $93,000 after nearing the $100,000 milestone, indicating a cooling off period in the cryptocurrency market.

Top Stories

  • Brazil proposes national Bitcoin reserve: A bill introduced to create RESBit, allocating up to 5% of international reserves to Bitcoin.

  • Justin Sun joins Trump's DeFi project: Appointed as advisor to World Liberty Financial after HTX's $30 million investment.

  • Bitcoin price falls below $93,000: Market experiences a cooling off after approaching the $100,000 threshold.

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TOP STORIES

Bitcoin strategic reserve bill introduced in Brazilā€™s Congress

Brazil's proposed Bitcoin strategic reserve could hold 5% of international reserves, enhancing economic stability and supporting a CBDC.

cryptobriefing.com/brazil-bitcoin-strategic-reserve-bill

Justin Sun Joins Trump-Backed DeFi Project as Advisor

Justin Sun, founder of Tron, invests $30M in World Liberty Financial (WLFI) and joins as an advisor, boosting the Trump-backed DeFi project's growth and innovation.

www.cryptotimes.io/2024/11/27/justin-sun-joins-trump-backed-defi-project-as-advisor

Bitcoin Falls Below $93,000 as Market Cools Off - "The Defiant"

Analysts view the pullback as natural after the torrid rally since the U.S. election.

thedefiant.io/news/markets/bitcoin-falls-below-usd93-000-as-market-cools-off

FUNDRAISING

OTHER HEADLINES

Has Mango DAO ā€˜diedā€™ while violating its SEC settlement?

The Mango DAO reportedly ā€˜diedā€™ after John Kramer and Max Schneider gained significant voting control last week.

protos.com/has-mango-dao-died-while-violating-its-sec-settlement

Voting on Jupiterā€™s Next Proposed Airdrop is Live - "The Defiant"

Jupiter, Solanaā€™s leading decentralized exchange (DEX) aggregator by market cap, has started voting on its most crucial ecosystem update yet: Approval for two additional ā€œJupuaryā€ airdrops for the community. For the vote to pass, 70% of the community has to support it.

thedefiant.io/news/defi/voting-on-jupiter-s-next-proposed-airdrop-is-live

Bitcoin ETFs in ā€˜Pac-Man modeā€™ as investors pile in $3.3bn

Bitcoin ETFs just had their best week ever.

www.dlnews.com/articles/markets/bitcoin-etfs-have-best-week-ever-on-investors-billions

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