Nigeria’s central bank slashes the daily ATM withdrawal limit from ~$337/day to ~$45/day in a bid to boost digital payments and eNaira digital currency adoption (Bloomberg)

Bloomberg:
Nigeria’s eNaira digital currency, launched in October 2021, is used by less than 0.5% of Nigerians, leading the government to add incentives to aid adoption  —  A year after launching Africa’s first digital currency, Nigeria’s central bank is turning to the nation’s three-wheeler taxi operators …

Brian Heater / TechCrunch:
Bright Machines, which automates manufacturing tasks with AI and robotics, raised a $100M Series B and $32M in debt after pulling its SPAC deal in December 2021  —  In May of last year, Bright Machines announced plans to embrace the SPAC craze with a merger deal that valued the Bay Area-based manufacturing firm at $1.6 billion.

Paul Vigna / Wall Street Journal:
The most efficient bitcoin mining machines are selling for ~$24 per 100 terahashes, down from $106 in 2021, as unprofitable miners are forced to sell equipment  —  Unprofitable miners have become forced sellers of their own crypto equipment  —  There’s a fire sale on bitcoin-mining hardware.

Lucas Shaw / Bloomberg:
How Indonesia’s premium streaming video service Vidio is outperforming Netflix and Disney+ in terms of consumption in the world’s fourth most populous country  —  Good morning from Seoul, where I’ll spend the week trying to better understand how South Korea became a global hub of pop culture.

Erin Woo / The Information:
Sources: Instacart slashed its internal valuation to ~$13B, its third cut this year, as it seeks to reset investor expectations ahead of an IPO  —  Instacart, the instant delivery company gearing up to go public, has slashed its internal valuation to about $13 billion, according to two people familiar with the matter.

Amitoj Singh / CoinDesk:
The Reserve Bank of India plans to begin testing its CBDC on November 1, with nine banks participating, and a retail version by the end of November  —  A pilot for a retail version will start within a month.  —  India’s central bank will introduce a pilot wholesale central bank digital currency …