Bitcoin Daily: Jack Dorsey’s First Tweet Goes For $2.9 Million As NFT; Binance-Backed Credit Union Platform Launches In Africa

Twitter CEO Jack Dorsey has sold his first tweet as a non-fungible token (NFT) for over $2.9 million, CNBC reported. The tweet in question reads “just setting up my twttr,” and has been a hugely popular tweet for years.

Dorsey was using the Valuables platform, and the tweet was won after a bidding war between tech entrepreneur Justin Sun and Bridge Oracle CEO Sina Estavi, according to CNBC. Ultimately, Estavi’s over $2.9 million bid won out.

Estavi has not been a stranger to the NFT bidding process, also bidding $1.1 million in order to own an Elon Musk tweet, which was also listed on Valuables.

In other news, Xend Finance, a Nigerian decentralized finance (DeFi) company allowing users to employ pooling capital for the creation of their own credit unions (CUs), has launched its mainnet, CoinDesk reported.

Xend Finance is backed by several big names like Binance and Google Launchpad, and it is a protocol designed to optimize and add value to core operations of CUs, according to CoinDesk.

This is also the first DeFi protocol to launch in Africa using the Binance Smart Chain platform, which works to make finance platforms more accessible to underserved communities, CoinDesk reported.

The platform lets users launch annual percentage yields (APYs) from savings held in personal or CU accounts created by the protocol. The interest can be earned through converting cryptocurrency or fiat currency to stablecoins by staking, according to CoinDesk.

Lastly, South Korea is planning to introduce anti-money laundering (AML) rules as of this week, CoinDesk reported. The ruling will be official Thursday (March 25) after approval by the cabinet officials last week.

The rules from the Financial Services Commission (FSC) say that registered virtual asset service providers have to file suspicious transaction reports with the FSC, subjecting themselves to compliance inspections and identity verification, according to CoinDesk.

Crypto firms engaging in custody, trading, sales, exchange and digital wallets have a six-month grace period to register with the FSC before facing possible sanctions for non-compliance that is slated to begin in September, CoinDesk reported.