Portugal and Crypto
Ukraine, which has been badly hit by the ongoing war with Russia, has seen a lot of people move to other countries in search of a better life. And one of the countries that has been welcoming to Ukrainian crypto workers is Portugal, as well. Portugal, which is in Europe, is already on its way to becoming a crypto hub because it has no taxes on digital asset gains and low living costs.
In addition to the zero percent tax on crypto gains, Portugal also gives some foreigners a flat 20% tax on their income or a flat 10% tax on their pensions. This is in addition to the zero percent tax on crypto gains. There are a lot of people moving to Portugal because of companies like NEAR protocol, which has a Ukrainian founder.
EXXON’s mining idea
Exxon Mobil, the largest U.S. oil company, is reportedly expanding its bitcoin mining pilot program to cut down on the amount of natural gas it burns off or flares into the air. The oil company has teamed up with a Denver-based energy company called Crusoe to get rid of gas that would have otherwise been thrown away. Crusoe will turn the gas into electricity and use it to run data centers and bitcoin mining operations. Crusoe thinks that bitcoin mining reduces CO2 emissions by more than 60% when compared to flaring.
Crypto.com wins major deal
FIFA, which runs many football tournaments around the world, has agreed to work with Crypto.com, a well-known crypto asset exchange, as the official sponsor of the 2022 Qatar World Cup, which is set to start in November. People around the world watched the 2018 World Cup, which FIFA says was watched by more than 3 billion people. This deal is expected to reach a wide audience because of that.
It’s part of this deal that Crypto.com’s name will appear around the stadiums for the FIFA World Cup Qatar 2022. The crypto exchange will also offer special deals for its users to go to games and win official gear as part of the sponsorship.
Qualcomm and Metaverse
Qualcomm, the world’s biggest maker of microchips, has announced a $100 million fund called the SnapDragon Metaverse Fund. This fund will help companies in the fields of extended reality, artificial intelligence, and augmented reality. These are the headsets and glasses that have AR and VR technology built in. According to the company, the money will also go toward a grant program for developers who want to make XR-themed games, health, wellness, media, and entertainment experiences.
Chainlink offers support
Chainlink Labs recently announced a program that will help new crypto projects build a business on the blockchain. This will help them succeed. People who start businesses early will be able to get help, resources, and advice from the company through a new program called Startup with Chainlink. It will let start-ups get information about scaling, operations best practices, webinars, events, and community groups. However, top projects are said to be able to get more help from mentors and venture capitalists.