Greetings Munchers. We're back with our weekly crypto news updates.

Munch Newsletter:

Hello Munchers! 🍩

Here’s what we’ve got lined up for you today:

• Hot News
• Market Insights
• Coins to HODL
• Personality of the day
• Crypto Tweets
• Learning Corner

🔥Hot News

Indian Crypto exchanges visited by the Tax Authorities

• Directorate General of GST Intelligence (DGGI) raided major cryptocurrency exchanges across India on New Year’s Eve for evading Tax on providing services that attract 18% GST
• The Mumbai-based WazirX has charged Rs 49.2 crore, which included its GST dues plus interest. Other major exchanges Coinswitch Kuber, Coindcx, Buyucoin, and Unocoin were slammed with tax evasion worth about Rs 70 crore ($9.4 million)
• Later on, the Crypto exchanges have claimed that the issue occurred because of lack of regulatory clarity on the treatment of crypto as a currency, a commodity, a service, or something else. Read More​

Eminem buys a Bored Ape Yacht Club NFT

• Eminem, the Grammy Award-winning rapper, has acquired a Bored Ape Yacht Club (BAYC) NFT on the OpenSea platform for 123.45 ether, or roughly $462,000.
• The NFT is now Eminem’s Twitter profile picture.
• BAYC member GeeGazza, who sold the ape to the rapper tweeted “I’m living in a simulation,” adding: “Madness. Let me write a lyric in your next single.” Read More​

Samsung hopped on the trending tokenised wagon, introduced ‘NFT aggregation platform’

• Electronics giant Samsung integrated a new ‘NFT Aggregation Platform’ on its new set of smart TVs from this year.
• The feature will allow the users to view their collections as well as browse and purchase from multiple marketplaces from the TV set.
• It will be available on Samsung’s MicroLed, Neo QLED, and The Frame models and will also enable users to directly buy NFTs directly from the TV sets. Read More​

📈Market Insights

The Bank of Jamaica has completed its CBDC pilot project

• The Central Bank of Jamaica completed an eight-month pilot project on Friday after commencing initial testing of the CBDC in March 2021.
• The Bank of Jamaica minted 230M Jamaican dollars ($1.5M) as part of the pilot project.
• In the first quarter of 2022, the Bank is planning a nationwide launch. Read More​

Binance Invests $12 million in WOO Network

• Binance’s venture capital arm made a strategic investment in WOO Network.
• WOO Network is a liquidity platform that links users to exchanges and decentralized finance (DeFi) networks.
• This investment follows WOO’s $30M Series A round in November. Avalanche, BitTorrent, Crypto.com Capital, and Three Arrows Capital were among the investors in WOO Network’s $30 million Series A funding round, which was completed in November. Read More​

Ethereum NFT Markets do not appear to be slowing down

• In the initial days of 2022, the NFT market is surging, with OpenSea having its best day of Ethereum trading volume since August.
• The big winners are the Bored Ape Yacht Club and XCOPY.
• In December, OpenSea has observed more than $3 billion in Ethereum trading volume. Read More​

💰 Coins to HODL

Polygon (MATIC)

Polygon (MATIC), a layer-2 solution has a lot of potentials, it not only helps Ethereum with improving its scalability but has other utilities as well. Check out this latest video by moving to know more!​

👨🏻‍💼 Personality of the day

Garry Kasparov

• Garry Kasparov is regarded as the greatest chess player in the history of mankind, the Russian grandmaster – ranked No. 1 from 1984 to 2005
• He views crypto as a way to check government power. Bitcoin offers protection against rampant government spending, says Kasparov, “because you’re protected by math” – by the logic of the code itself.
• Garry partnered with 1Kind to drop a series of 32 NFTs that showcase the iconic moments from his life, from the 1985 match that crowned him as the youngest world chess champion, the epic battle against International Business Machines’ artificial intelligence-powered “Deep Blue” and speeches against totalitarian governments. Read More​

📱 Crypto Tweets

📖 Learning Corner:

What is GameFi?

• The combination of blockchain-based gaming with decentralized financial instruments is referred to as GameFi. GameFi implements a “play-to-earn” strategy.
• This approach provides financial incentives for players to play and develop through games. The GameFi projects use ideas from the DeFi industry to reward players.
• The world of GameFi does not appear to be slowing down. The sector’s potential is limitless with increased investments and GameFi-specific funds streaming in. As blockchain network grows and players have access to more of such games, there will undoubtedly be a rush of new products hitting the market in the coming years, further boosting this industry.

We hope you enjoyed your Munch! ☕🍪

If you enjoyed our content, be a part of our crypto journey and join our communities on Twitter and show your love to our YouTube Channel.

Moving’s objective has always been to provide users with the most up-to-date and valuable information while also making cryptocurrency more accessible to novice investors.

You can get our app on Google Play and App Store

Signing off! Stay safe and we’ll see you soon👋

Disclaimer: Our content is purely educational and informative, please do not take it as investment advice. Always do your own research before investing!