Thursday, Jun 30, 2022
Outlook Money

RBI’s Rabi Sankar Says CBDC Won’t Bear Interest; Jack Dorsey’s Tweet NFT To Be Sold Again

RBI’s Deputy Governor T. Rabi Sankar says India’s CBDC will be a replica of the fiat currency. Jack Dorsey’s first tweet NFT to be sold on Open Sea, while ESPN jumps into NFT fray with Tom Brady’s autograph.

Bitcoin (BTC)
Bitcoin (BTC) Photo by Jeremy Bezanger on Unsplash

RBI Deputy Governor T. Rabi Sankar said that the central bank digital currency (CBDC) will be the exact replica of the fiat currency and will not bear any interest. He was speaking at a webinar organised by the Indian Council for Research on International Economic Relations (Icrier), according to reports.

Meanwhile, former Twitter CEO Jack Dorsey’s first-ever tweet is reportedly being sold on the Open Sea platform. It was sold as a non-fungible token (NFT) to Sina Estavi, CEO Bridge Oracle, a Malaysia-based blockchain service bridge. Estavi stated via a tweet post that he intends to donate half of the proceeds from the NFT auction to charity.

In other news, ESPN, the US-based sports broadcasting network, has partnered with Autograph, a web 3.0-enabled NFT platform. This partnership will result in ESPN releasing its first-ever NFT based on Tom Brady’s documentary series centred around the National Football League (NFL).

Cryptocurrency Prices

The global crypto market cap increased by 2.2 per cent to $2.03 trillion at 8.50 am. However, the global crypto volume was down by 31.5 per cent to $82.84 billion, as per Coinmarketcap data. 

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $43,631.56, higher by 0.64 per cent in the last 24 hours. Ethereum (ETH) was also trading higher by 2.4 per cent at $3,262.76.

“The market leaders have held off well for the past few weeks. However, if the drop continues, rebounding will be harder than expected,” says Gaurav Dahake, CEO and founder, Bitbns.

Among other major coins, Cardano (ADA) was up by 2.91 per cent at $1.09, Algorand (ALGO) was trading with a gain of 3.67 per cent at $0.8048, Binance Coin (BNB) was up by 3.73 per cent at $439.59, Solana (SOL) by 6.24 per cent at $121.48, and Polkadot (DOT) was also trading with a gain of 2.42 per cent at $20.52.

Today’s top gainer was Shiba Toby (SHBT), which was up by 319.77 per cent at $0.00000002912. The top loser was Xolo Inu (XL), which was down by 88.13 per cent at $0.00004709.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 4.09 per cent at $0.1484. Its volume to market cap ratio stands at 0.07151. Rival Shiba Inu (SHIB) was up by 3.17 per cent at $0.00002507.

Dogelon Mars (ELON) increased its value by 2.52 per cent at $0.000009422, Floki Inu (FLOKI) gained 2.94 per cent at $0.00003295 and Samoyed Coin (SAMO) was up by 0.63 per cent at $0.02022. 

In the DeFi segment, YFI ( was trading with a gain of 1.05 per cent at $21,812.98. Terra (LUNA) was, however, down by 2.14 per cent to $105.72. Avalanche (AVAX) gained 6.61 per cent at $88.90, Uniswap (UNI) was also up by 5.28 per cent to trade at $10.49 and Aave (AAVE) by 0.23 per cent to trade at $200.26.

Latest Updates

“The CBDC would be one-to-one convertible with the sovereign currency. Things like whether it should pay interest are clearly not there because currency as such does not pay interest,” said Sankar at a webinar, reported Financial Express.

On Estavi’s tweet saying half the proceeds from Dorsey’s NFT will go to charity, the latter commented as to why he is not donating 99 per cent of the NFT auction proceeds. Estavi replied, “I don't want the rest for myself; I'd prefer to use the rest to support blockchain projects ( @bridge_oracle ) and help my people, but your suggestion is valuable to me. If you like, I would donate 100% of it to charity if you let me know.”

ESPN’s first-ever NFT will be a “unique collection around Tom's 'Man in the Arena' docuseries (and it) marks the beginning of our relationship with ESPN. As the first NFT partner for ESPN, the possibilities across sports and technology are endless, and we couldn't be more excited to get this content out to the world in a massive way," said Dillon Rosenblatt, co-founder and CEO, Autograph, in a press release.