XRP Whales Accumulate 22 Million Tokens as Market Anticipates Stablecoin Launch 
Fed Delivers Third Rate Cut but Doubles Down on Fewer Moves for 2025 
Eli Lilly’s Zepbound Becomes FDA’s First Weight-Loss Drug Approved for Sleep Apnea Treatment 
To the Moon: Bitcoin Aiming for $200,000 as Whale Activity and Inflows Surge 
Nike Battles Sliding Revenue With Bold Plans for Premium Sales and Revamped Retail Strategy Under New CEO 
Boeing Stock Poised for Quick Gains as TD Cowen Raises Target Price to $200 Amid Recovery Momentum 
Accenture's Generative AI Push Smashes Records with $1.2 Billion Bookings and Revenue Surge 
Japan Core Inflation Rises as Food and Fuel Costs Soar Putting BOJ Under Rate Hike Pressure 
Apple Eyes AI Leadership in China by Partnering with Tencent and ByteDance for iPhone Integration 
Ethereum Rockets Ahead: Whale Activity, ETF Inflows, and World Liberty Financial's Bold Investment Drive Market Optimism 
Ethereum's Rising Sentiment: Whale Interest and ETF Confidence Shape Future Momentum 
Cryptocurrency Market Shakeup: Record ETF Outflows, Major Acquisitions, and Whale Movements 
Tesla Robotaxi Mystery Deepens as Undisclosed City Nears a Breakthrough Launch With Officials Involved 
Miami voted to accept cryptocurrency funds and in this state, it is called the MiamiCoin. It is a new cryptocurrency that was launched last month by CityCoins Inc., a crypto developer.
It was announced early this week that Miami voted in favor of accepting crypto and be able to access more than $4.5 million worth of MiamiCoin. The funds are said to be still growing as of this time.
MiamiCoin is similar to Bitcoin as it was also created through a technical process of “mining” the coin using computers to solve complicated equations. When a MiamiCoin is successfully mined, there will be a 30% “reward” and this percentage is deposited as a contribution into a virtual wallet designated for the state of Miami. The access to this wallet was what the city approved on Monday.
While the city commissioners voted to accept MiamiCoin funds they will not be immediately used and this means the local government will not be spending them, at least for now. Moreover, CityCoins Inc., created MiamiCoin but it does not own them, rather its ownership is decentralized like most existing cryptocurrencies today.
As per Government Technology, the value of MiamiCoins is decided by the value of Stacks, another cryptocurrency. Currently, one Stacks is worth $1.50 and Miami has more than $4.5 million funds since over three million Stacks were committed to the city wallet and the amount is still going up.
Then again, it was said that based on the agreement, Miami will only accept the funds as U.S. dollars, to access them and avoid being in direct custody of a cryptocurrency. Everyone has access to MiamiCoins by mining or buying them from an exchange like Okcoin.com which sells them.
“The fact that CityCoins has chosen to do a MiamiCoin is an indication of how Miami is viewed in the crypto community,” Miami Mayor Francis Suarez Suarez said. “The fact that it gives 30% of mining proceeds to the city could create significant benefits and has already created approximately $4 million in 30 days.”
He added that the city officials will further discuss how to use the funds as they are aware that more money will be generated in the city’s crypto. Fox Business noted that around $2,500 worth of cryptocurrency is being deposited into Miami’s digital wallet every 10 minutes, with an average of 35 miners vying to produce MiamiCoin.
“It’s a very very new technology, we want to be safe, we’ve done significant due diligence, but we want to be abundantly careful,” the mayor added. At any rate, the commissioners initially proposed to use the funds on programs to help underprivileged communities, provide incentives for tech business owners, and help alleviate climate change.
