Unveiling Satoshi Nakamoto Statue in Lugano Underscores Blockchain's Growing Influence Across Finance

As the crypto landscape continues to evolve, this week brought several pivotal developments that underscore blockchain's growing influence across

This week in crypto: A statue of Satoshi unveiled in Lugano

Major developments in the crypto sphere this week included the unveiling of a statue of Bitcoin’s creator, Satoshi Nakamoto, in Lugano, Switzerland, at the third annual Plan ₿ Forum.

The statue, placed in front of Villa Ciani in Lugano, was created by artist Valentina Picozzi in collaboration with Tether and the City of Lugano. It is part of Lugano's efforts to highlight Bitcoin and blockchain technology.

According to Tether’s chief executive Paolo Ardoino, the statue serves as a reminder of Bitcoin’s role in promoting financial freedom and innovation.

"Satoshi created something that is changing the world for the better, and we felt that it was important to commemorate that in a way that everyone can appreciate," Ardoino said.

The statue is designed to subtly fade from view depending on the observer’s perspective, to symbolize Satoshi’s choice to remain anonymous after launching Bitcoin.

"Satoshi chose to remain anonymous, and we wanted to reflect that in the statue," said Picozzi. "It's a tribute to their謎 and innovation."

Mayor Michele Foletti added that Lugano is committed to becoming a digital hub, and that the statue is a testament to that goal.

"We are honored to have this statue in Lugano," Foletti said. "It's a symbol of our city's commitment to the future of finance and technology."

Coinbase becomes first crypto partner of Canadian Football League

Coinbase also announced a historic partnership with the Canadian Football League (CFL), making it the first time a major Canadian sports league has joined forces with a crypto exchange.

The partnership will see Coinbase integrate into the CFL's digital and broadcast platforms, and will include initiatives to engage fans with digital assets and economic freedom.

"This partnership marks a pivotal moment in the convergence of sports and cryptocurrency," said Coinbase Canada CEO Lucas Matheson. "Together, we will empower Canadians to participate in the digital asset revolution and unlock new possibilities."

To celebrate the partnership, Coinbase is offering $25 in Bitcoin to new users who sign up and make their first trade through the CFL promotion.

Additionally, fans will have the chance to win $50,000 in Bitcoin by scanning a QR code during CFL games and entering a sweepstake.

"We are thrilled to welcome Coinbase as the CFL's first cryptocurrency partner," said CFL commissioner Randy Ambrosie. "This partnership aligns perfectly with our mission to provide fans with innovative and engaging experiences."

BlackRock single-handedly lifts up Bitcoin price

Institutions' growing interest in Bitcoin was highlighted once again when BlackRock, the world's largest asset manager, purchased 16,975 BTC, now valued at approximately $1.17 billion, according to on-chain data platform Lookonchain.

The purchase, made via iShares, contributes to BlackRock's total Bitcoin holdings, which now stand at 386,614 BTC.

The move follows BlackRock’s earlier launch of a spot Bitcoin private trust and comes amid reports that the firm is preparing to offer clients direct crypto exposure.

The latest development also coincides with a rise in Bitcoin's price, which surged over 8% on the news of BlackRock's purchase.

After slipping below the crucial $40,000 level earlier this year, Bitcoin has been on a gradual recovery path, and is currently trading above $70,000.

Flare debuts Blockchain Machine Images on Google Cloud for fast node deployment

Blockchain technology company Flare has announced the launch of its Blockchain Machine Images on Google Cloud Marketplace, enabling streamlined and rapid deployment of full blockchain nodes across networks such as Bitcoin, Ethereum, and Avalanche.

The integration empowers Web3 developers to deploy nodes within minutes, bypassing the extensive setup and maintenance typically required.

By reducing these costs to approximately $300 per month, Flare provides a cost-effective solution that avoids reliance on third-party providers.

The new feature caters to diverse Web3 applications, such as enabling businesses to manage blockchain data directly in their systems.

This launch marks a strategic move by Flare to simplify blockchain infrastructure and expand its ecosystem, supporting developers and enhancing its network operations, particularly for its Attestation Providers.

Chainlink rolls out privacy tools to support institutional blockchain transactions

Finally, Chainlink unveiled two new privacy solutions this week, designed to support institutional blockchain adoption.

The solutions include Blockchain Privacy Manager and CCIP Private Transactions, which will facilitate privacy-preserving institutional blockchain transactions.

Blockchain Privacy Manager enables secure integration of private networks with Chainlink's public chain, providing selective data access for institutions without exposing sensitive details.

Additionally, Chainlink is enhancing its DECO privacy technology with a new sandbox for zero-knowledge proofs, supporting secure verification of data like identity or proof of funds.

These tools aim to address confidentiality and regulatory needs, aligning Chainlink's infrastructure with the growing demand for secure

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