Fact Check: Is Pi Nexus Really Linked to BIS & BSP Project Nexus? | Weekly News Recap
Pi Nexus and BSP Nexus.
GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. It’s time for the weekly news recap.
Here are the top crypto news stories of the past week!
Market Updates 📈
Here are the crypto highlights of the week:
Bitcoin is down 12.1% vs the previous seven days, now at $93,616.60.
The weekly top gainer in the top 100 coins is MOVE ($26.96), up 43.2%.
The weekly top loser in the top 100 is APTOS ($9.30), down 32.1%.
Noteworthy: Hyperliquid ($27.64) is down 2.1% vs the past week.
Fact Check: Is Pi Nexus Really Linked to BIS & BSP Project Nexus?
In response to social media claims linking Pi Nexus, a blockchain-based financial initiative on Pi Network, with the news of the Bangko Sentral ng Pilipinas (BSP) joining Bank for International Settlements (BIS)’s Project Nexus, BitPinas published this article to clarify and debunk the misinformation.
The Claim: Several social media posts claim that Pi Nexus is connected to Project Nexus, including one suggesting that Pi Network participated in a signing ceremony in Basel, Switzerland, on June 30, 2024, with the presence of high-ranking banking officials from various countries.
Fact Check: The particular event was attended by BSP Governor Eli M. Remolona, Jr. along with central bank leaders from India, Malaysia, Singapore, and Thailand.
The TLDR:
Pi Nexus is not tied to central banks or the global financial system, unlike Project Nexus.
Local Crypto News 🇵🇭
Vana, a Filipino-led AI and blockchain platform is now live.
Byaheng Pilipinas: Polkadot Bootcamp and Hackathon Series 2025 is set to start in January 2025.
Cebu will have its first ever Cebu Blockchain Conference on January 17-18, 2025.
BitPinas article: BitPinas clarified that Pi Nexus is not related to BSP joining BIS's Project Nexus.
Noteworthy 🌟
Key updates and announcements from around the crypto and blockchain world:
FTX customers will receive distributions through Kraken and BitGo starting within 60 days of the bankruptcy plan's Jan. 3, 2025 effective date.
Bloomberg analysts predict a surge in cryptocurrency ETFs next year, including Bitcoin-Ether combo ETFs, Litecoin, HBAR, and eventually Solana and XRP funds.
A trader lost $10,000 by buying the PENGU token before its official launch, causing a massive loss due to low liquidity and an inflated market cap.
Drake's X account was hacked to promote a fake Solana memecoin, generating $5 million in trading volume before being removed.
Educational Corner 🎓
Last week, BitPinas highlighted guide articles as well as lists in various categories.
Learn: How to secure crypto earnings with bonds
Check out: POKE, a Pokemon-inspired Telegram Game.
New listing: 3 new tokens on GCrypto
Regulation Watch 📜
Stay informed about the latest regulatory updates from here and around the world and what they mean for you:
U.S. authorities recovered $800,000 of a $4.6 million crypto stash linked to a "pig butchering" scam.
The US SEC issued a Wells Notice to crypto investment firm Unicoin signaling its intent to sue for fraud, deceptive practices, and the sale of unregistered securities.
Ohio State Rep. Derek Merrin introduced a bill to create a state-backed bitcoin reserve, citing bitcoin's potential to protect state funds from devaluation.
A judge allowed Coinbase to delist wrapped bitcoin (wBTC), rejecting BiT Global's lawsuit.
Community Spotlight 🔦
The following people were feature in last week’s community spotlights:
Harry Santos (LinkedIn), Co-Founder and CMO of Stanible (December 17)
Juliane Indiongco (LinkedIn), Ambassador, ICP Hub (December 18)
Joemar Taganna (LinkedIn), CEO, Paytaca (December 20)
More Web3 and AI News 💡
Discover the latest in web3 and AI innovation.
Lido is phasing out its staking service for the Polygon PoS chain due to limited user adoption, insufficient rewards, and high maintenance requirements.
ChainGPT's 2025 AI Virtual Machine (AIVM) framework launch is set to bring decentralized AI agents and scalable tools to transform Web3.
COSIMO digital raised $25M for expansion, while Hyperbolic secured $12M to build an "AI rainforest."
Fantom rebranded to Sonic, launching its EVM-compatible mainnet with features like 10,000 TPS, S token staking, and an upcoming $260M airdrop.
Web3 Gaming Section 🎮
The future of web3 is gaming, and here are the latest news.
Pass rewards, and special events with winter-themed content.
Big Time Studios launched a $150 million Open Loot Fund to support developers in creating high-quality web3 games.
Ronin Wallet’s new bounty feature lets closed beta users earn over $33k in rewards, including 4,700 AXS and 50 Nightmare Axies, by completing quests.
A report noted that blockchain gaming shifts from play-to-earn to seamless experiences, focusing on ownership and AI-driven on-chain features.
Upcoming Event 📅
Upcoming events:
Cebu Blockchain Conference: January 17-18, 2024
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