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Crypto Flipsider News – August 3rd

Miami Begins Its Crypto Experiment, Launching the Metropolis’s Personal Cryptocurrency

The Metropolis of Miami is launching MiamiCoin ($MIA) this week. MiamiCoin permits folks to spend money on Miami by shopping for or mining the coin. Funds can be transformed into US {dollars} and can be used for the town’s infrastructure or occasion initiatives.

MiamiCoin is the primary ever CityCoin. CityCoin will present municipalities with extra fundraising alternatives. Traders can be allowed to stack MiamiCoins and earn rewards via Stacks protocol. 

Crypto-friendly Miami desires to develop into the “Bitcoin capital of the world.”

Digital Asset Funding Merchandise See Outflows for the 4th Week in a Row

Digital asset funding merchandise have witnessed internet outflows for the 4th week in a row, CoinShares reviews.

The overall outflow quantity is as much as $19.5 million this week. The overall outflow since mid-Could has now reached $295 million, which quantities to 1% of the property underneath administration (AUM).

The outflow of Bitcoin-focused funding merchandise reached $20 million final week, and $24 million the week earlier than. Ethereum has additionally witnessed decrease outflows, at solely $9.5 million previously two weeks.

Within the meantime, multi-asset funding merchandise have displayed a unique pattern, having solely recorded inflows this 12 months and attracting $7.3 million over the previous week.

Binance: Suspending ETH and ERC-20 Tokens Deposits, Banned by HSBC

Australian Exchanges: CoinJar and Impartial Reserve 

The NFT Booms Continues: $300 Million in Weekly Trades and CryptoPunks Hire

Source: DailyCoin

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