Japanese Giant Toshiba to lay off about 7% of workforce

This comes amid the government's plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the ongoing winter session of parliament. The Bill seeks to ban all but a few private cryptocurrencies to promote underlying technologies while allowing an official digital currency by RBI. 

Eight out of the top ten cryptocurrencies with were trading in green on Wednesday, with Polkadot surging 7.93% to $37.09, while Binance Coin gained by 3.76% to $413.17 during the last 24 hours. The world’s biggest and the oldest cryptocurrency Bitcoin increased by 4.74% to $47,187.44-levels, while Ethereum the second-largest virtual token gained 3.66% to $3,407.37.

Cryptocurrency prices

*All prices as of 15th September 2021, at 8:10 AM, Table Source: Coinmarketcap.com. Conversion rate for the USD to INR used was $1=Rs 73.62

Zimbabwe finance minister tweets on cryptos benefitting diaspora remittances

The finance minister of Zimbabwe, Mthuli Ncube tweeted that he had came across cryptocurrency solutions that could lower charges for diaspora remittances, after paying a visit to the DMCC Crypto Centre in Dubai recently.

According to Bitcoin.com, the finance minister had emphasised the need to understand Bitcoin technology last year as well and follow countries like Switzerland that were investing in crypto.

Following this many had supported his comments for the requirement of a crypto-based solution citing Zimbabwe’s hyperinflation. According to a public policy organisation, CATO, based out of Washington, the country has a long history of hyperinflation, with cumulative inflation at 3.78 billion percent between 1997-2007

Floki rises on the back of Elon Musk’s tweet

Cryptocurrency Floki has seen a record rise in prices in the last 24 hours, owing to Elon Musk’s tweet on his new pet Shiba Inu, with the caption “Floki has arrived”. According to CoinMarketCap, the crypto has traded at a high of $0.0000000005961, with a rise of 958.09%.

Floki Inu, another cryptocurrency whose value has gone up by 59.08% in the last 24 hours. The Tesla CEO is back to tweeting about cryptocurrencies, as this is not the first time he has sent crypto prices soaring.

Last month, the Space X CEO Shiba Inu had recorded a 16% incline, when it touched 0.00000790, moments after Musk tweeted that he was naming his new pet Floki.