After making a daily high of USD 43,911, Bitcoin is now trying to sustain the USD 42,000 support and is trading at USD 42,344. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to USD 2,952.

Let’s deep dive into some interesting Crypto News stories of September 28th.

1- Facebook Allotted a $50 Million Investment Fund for its Virtual Metaverse Development

According to an official announcement, Facebook has allocated a $50 million investment fund to develop its virtual Metaverse. This investment will be used over the next two years through its XR Programs and Research fund.

As stated, the team would work with government and industry experts to work on issues and possibilities in the Metaverse. This Metaverse will empower people to interact with one another, digital objects, and the physical world through their avatar in a virtual environment.

Additionally, Facebook has collaborated with multiple universities and non-profit organizations such as the University of Hong Kong, Women In Immersive Tech, and more to deploy this Metaverse ethically.

Building the Metaverse Responsibly

2- Fantom | Iron Bank Collaboration To Create CBDC for the Republic of Tajikistan

Fantom Foundation, in collaboration with OJSC Orienbank declared to build a Central Bank Digital Currency (CBDC) for the Republic of Tajikistan. Moreover, Fantom is fast, scalable, customizable with near-zero fees transaction finality, making it ideal for DeFi applications and real-world uses.

According to an official report, this coalition helps the National Bank of Tajikistan and Orienbank to utilize Fantom’s technology to digitize the Tajikistani Somoni for retail and commercial payments. In addition, the platform will integrate Andre Cronje’s Iron Bank protocol for seamless, low-fee foreign exchange. Additionally, Fantom’s easy-to-use CBDC would encourage governments to utilize national digital currency.

3- Unbound Finance’s Sandbox Mainnet is Now Live on Ethereum

Unbound Finance has announced to deploy on the Ethereum mainnet. This sandbox mainnet launch would allow the liquidity providers on Ethereum-based AMMs to leverage their LPTs to gain higher returns on their DeFi investments.

According to the announcement, this would help to create the first-ever decentralized, cross-chain stablecoin $UND. Initially, to release the fully functional mainnet, the team would limit TVL and UND minting.

Also, the project will increase liquidity by adding a more significant number of pools supported by multiple Ethereum based AMMs and lift the restriction on UND minting. Notably, Unbound Finance is a non-custodial protocol that aims to unlock liquidity where users can grow their earnings manyfold by collateralizing their LPTs.

4- LABS Group Launched LABS Academy To Educate New Crypto Users

In the last bit of Crypto News for today, we have LABS Group introducing LABS Academy. As per the tweet, this academy intends to educate the new users with basic crypto knowledge such as Blockchain, NFT, and Real Estate.

According to the announcement, the community will get access to the latest crowdfunding projects. Further, the team also has plans to invite guest speakers and blockchain experts to LABS Academy. The LABS Group facilitates an end-to-end blockchain-based real estate investment ecosystem. Hence, this Academy launch will entice new users to the LABS platform.

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