Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s current market value. The token was launched on November 11th, 2020 on BitForex as an IEO, at an initial price of $0.7. After the launch, the price rose to $11, and it has continued to rise. TMCN’s price hit a record high of $8,500 on February 18th, 2021 and that price was more than 12,142 times the initial price. Also, TimeCoin is listed on BitMart on March 24th, 2021 and will be listed on other exchanges near the future. The project, the TimeCoinProtocol , was initially financed by a few investors who invested around $4 million, and only a very limited number of tokens were placed on the market. Now with the Special Token Sale, the tokens will be sold on the OTC market. The project bought back most of the tokens available on the market so as not to increase the selling pressure. The tokens will also be made available for trading on other crypto ...

On March 23, the creator of the blog platform read.cash and the social media application noise.cash revealed a new project called tipb.ch. The application allows anyone to create a customizable short address that can be used for tips rather than having to share a long BCH address on social media platforms. Platform Tipb.ch Allows You to Share a Short URL Rather Than a Long Bitcoin Cash Address The founder of the blogging platform read.cash announced a new project on Reddit this Tuesday revealing a service called tipb.ch ( https://tipb.ch ). The Reddit post led to another post on the social media application noise.cash which described what tipb.ch does. Essentially, the program allows anyone to create a short URL and tether it to a public bitcoin cash ( BCH ) address. This way, instead of having to share a long BCH to others on social media, the person can create a short address to post on Instagram, Twitter, Noise.cash, Facebook, or Read.cash. Rather than leveraging a long BC...

Privacy has been a discussion that has not gone unnoticed when it comes to the forthcoming launch of the digital yuan. The head of the People’s Bank of China-run Digital Currency Research Institute had firmly pointed out that anonymity cannot be guaranteed at all. Feature Seeks to Avoid Tax Evasion and Finance Terrorism During an interview with the Securities Times , Ma Changchun told the 2021 China Development Forum that a fully anonymous central bank digital currency (CBDC) is impossible. The reason, said the official, is that the government needs to make it compliant with the anti-money laundering (AML), know-your-customer (KYC), and counter-terrorist financing (CTF) measures. Per the official, such transactions should also be scrutinized to avoid tax evasion schemes through the upcoming Chinese CBDC, developed by the PBoC. However, Ma clarified that there would be a “controllable anonymization” technology implemented in the digital yuan. Although he didn’t explain in-depth t...

Samuel Bankman-Fried’s FTX crypto exchange is reportedly one vote away from winning a naming-rights deal for the arena of the NBA’s Miami Heat. The deal, which is believed to be worth $135 million, is set to be approved on March 26 by the Miami-Dade County Commission. Miami-Dade to Get $5 Million a Year According to a report , as part of this agreement, the venue, which has been known as the “American Airlines Arena” for two decades, will be renamed the “FTX Arena.” In return, Miami-Dade, which controls the naming rights for the building, will receive “an undisclosed amount of yearly payments from FTX.” However, as part of the deal, Miami-Dade is expected to “pay the (Miami) Heat $2 million a year under an option the county exercised in 2018 to find the arena’s next sponsor.” While officials have not yet disclosed the net revenue to accrue to Miami-Dade, journalist Joe Pompliano tweeted the city will realize a net gain of $5 million from the deal. FTX Going Mainstream Mea...

On Tuesday, the firm Hut 8 Mining Corp., announced that it is joining the Foundry U.S.-based bitcoin mining pool. The publicly-listed mining company said that it added 14,400 machines to Foundry’s mining operation and it also plans to deploy another 5,000 miners by August. Hut 8 Joins Foundry’s US Pool and Adds 14,400 Bitcoin Mining Rigs With Close to an Exahash of Hashpower The Toronto-based company Hut 8 (TSX: HUT) has revealed the firm is joining the U.S. mining pool invoked by the firm Foundry Digital LLC. Foundry is a wholly-owned subsidiary of Digital Currency Group (DCG) and the firm is dedicated to cryptocurrency mining and staking services. The announcement explains that Hut 8 is now mining on the Foundry USA Pool and a fraction of the Hut 8 fleet of miners are being deployed to Foundry’s pool. Around 0.81 exahashes of hashpower or 14,400 bitcoin mining rigs will be added. “We are focused on growing shareholder value, in every decision we make,” said Jaime Leverton, CEO...

PRESS RELEASE. BitMax.io, a leading crypto and digital asset trading platform serving professional and retail traders, has announced that it has relaunched as AscendEx in the English-speaking world, and “Dingfeng” to Chinese speakers. Originally launched in 2018, the trading venue has experienced three years of steady growth and adoption of its native BTMX Token. This new brand identity is meant to evoke the uplifting power of crypto assets, and the overall growth the industry has seen over the past couple years. “This new brand name is inspired by the rapid rise of both our industry, and that of the many people taking part in it,” said AscendEx CEO George Cao. “So many have benefitted from increasing valuation of Bitcoin, DeFi and other tokens through newfound access to financial services where there previously were none, or have even been able to accumulate significant wealth – this transformation is unprecedented in our lifetimes.” The color scheme of the new logo uses a primary...

On Tuesday, March 23, the infamous whale that’s been spending numerous strings of 2010 block rewards since last year, has spent another 1,000 bitcoin that sat idle for over a decade. The string of 20 block rewards transferred on Tuesday, follows the exact same patterns our newsdesk has tracked since March 12, 2020, otherwise known as ‘Black Thursday.’ Mystery Whale Spends Another 20 Block Rewards from 2010 On February 28, 2021, the mysterious whale who has been spending a great number of 2010 block rewards for roughly a year, had once again spent another 20 blocks. 23 days later, on March 23, 2021, the pattern repeated, as another 20 block rewards from 2010 were transferred today. Since Bitcoin.com’s newsdesk started investigating this old school whale on March 12, 2020, to-date the entity has spent 10,000 BTC worth over $550 million using today’s BTC exchange rates. Bitcoin.com’s newsdesk caught the mystery whale again on March 23, 2021, with the help from researchers at Btcpar...

Mad Money host Jim Cramer, a long-term gold proponent, says that gold has let him down. He has become more bullish on bitcoin, advising investors to put 5% of their portfolios in the cryptocurrency to protect their assets. Jim Cramer Reduces Gold Holdings, Increases Bitcoin Allocation In an interview published Monday with Morgan Creek Digital partner Anthony Pompliano, Jim Cramer talked about his new investment strategy for bitcoin and gold. Cramer is the host of Mad Money on CNBC, a former hedge fund manager, and a co-founder of Thestreet.com, a financial news and literacy website. Emphasizing that bitcoin is what he had been searching for with gold, Cramer opined: I have, for years, said that you should have gold … but gold let me down. Gold is subject to too many vicissitudes. It’s subject to mining issues. It’s frankly subject to failing in many cases. The Mad Money host became interested in bitcoin after Pompliano explained the benefits of the cryptocurrency to him in Sep...

The American news magazine Time has revealed it is getting into the cryptocurrency and blockchain space, as a new job listing shows the 98-year-old publication is in search of a chief financial officer (CFO) who understands bitcoin. Additionally, Time will be selling non-fungible token (NFT) assets via Superrare and in 30 days, the news outlet will be accepting crypto assets for digital subscription payments. American News Company Time Is Looking for a CFO That Understands Bitcoin A job listing posted to Linkedin shows that Time magazine, the American publishing company, plans to hire a new CFO who understands bitcoin and blockchain technology. “The media industry is undergoing a rapid evolution,” the job advert notes. “Time is seeking a Chief Financial Officer who can help guide its transformation.” The job offer also states that the interested party must have “comfort with bitcoin and cryptocurrencies” according to the listing’s qualifications section. Additionally, the individ...

As the Indian government prepares to introduce the cryptocurrency bill, there are reports that it is considering blocking the IP addresses of cryptocurrency exchanges. Despite ban reports, many people in the Indian crypto community believe that the government will not impose an outright ban on cryptocurrencies, including bitcoin. Blocking IP Addresses of Crypto Trading Platforms The Indian government is reportedly “considering the blocking of internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening,” Business Standard publication reported Monday, citing an unnamed “source in the know.” This measure, if implemented, will be part of the government’s efforts to impose a ban on cryptocurrencies. Indian Finance Minister Nirmala Sitharaman recently said that the cabinet note regarding cryptocurrency legislation is being finalized and will be soon submitted to the cabinet. A bill entitled “The Cryptocurrency and Regulation of Official Dig...

The NFT sector continues to grow, and it is no surprise that Dvision Network is looking to release NFTs. The Virtual Reality blockchain platform offers users the opportunity to purchase virtual space within its ecosystem, and NFTs are a significant part of this. Limited-Edition NFT Characters Dvision Network , a virtual reality blockchain ecosystem, has announced that it is set to pre-release the designs of five limited-edition NFTs. This information was revealed on March 15 and signaled the first major foray into the Non-fungible tokens sector by Dvision Network. According to the report, the five designs are from the limited-edition NFT originally scheduled to be available before the end of March. The NFT characters are built based on the avatar of major stakeholders within the cryptocurrency industry and will be auctioned in the coming days on NFT Marketplace OpenSea . The NFTs released by Dvision Network are unique and scarce since they are obtained from the limited edition...

The Turkish lira currency plunged by more than 10% on March 22 after the country’s President Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the country’s central bank governor. Having initially touched a new low of 8.280 a dollar, the lira recovered to close at 7.75 a dollar by 20.00 hours GMT. Inflation Fears On the other hand, a day before the lira crashed, bitcoin became the most searched word in Turkey. As Google trends data shows, searches for bitcoin spiked by more than 500% as inflation fears grew following Agbal’s ouster. Before his sacking, Agbal, who favored using higher interest rates to tame inflation, had helped make the lira “one of the best performing emerging market currency this year.” According to a report , satisfied overseas money managers had reacted to Agbal’s policies by pouring funds into the Turkish economy. The report said: Overseas money managers had added a net of $4.6 billion to Turkish stocks and local currency bonds during Agbal’s tenure, bett...

On March 19, 2021, the U.S. Federal Reserve Board published a press release that detailed the temporary supplementary leverage ratio easements will be expiring as scheduled. U.S. banks will no longer have the relaxed capital requirements they once held since the onset of the Covid-19 outbreak. Despite Wall Street’s Protest Federal Regulators Deny SLR Extension During the first week of March, members of the U.S. Federal Reserve shrugged off concerns over inflation and erratic bond markets. More recently, Fed Chairman Jerome Powell explained that he looks at bitcoin as a substitute for gold. Now analysts and economists think the Fed may have some different issues ahead, as the U.S. central bank is ending the supplementary leverage ratio (SLR) easements invoked back in April 2020. “[The] Federal Reserve Board announces temporary change to its supplementary leverage ratio rule to ease strains in the Treasury market resulting from the coronavirus and increase banking organizations’ a...