Bitcoin News and Finance: What You Need to Know

Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%. Oracles Token Projects See Seven Day Gains Jump Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well. Following the NFT-related pump, a great number of oracle protocol tokens are seeing significant gains over the last seven days. Basically, a decentralized oracle network is a group of independent responders that offer autonomous data to a blockchain. Over the last seven days, the project API3 has spiked 46.6% in value. Oracles are dominant on the Ethereum network and leveraged for decentralized finance (defi) applications in order to create intermediarie...

Members of the U.S. Federal Reserve and fellow bureaucrats have said that they are not worried about inflation levels and some officials have even encouraged a general increase in prices for goods and services. Despite the alleged statistics that say U.S. inflation is only 2% to 2.24%, reports show that Fed’s liquidity expansion has accelerated inflation, and prices on goods and services in the U.S. have swelled a great deal. The Federal Reserve Claims the US Inflation Rate Is ‘Well-Anchored at 2 Percent’ There’s a reason why precious metals like gold, silver , and cryptocurrency assets like bitcoin (BTC) are considered an escape from monetary inflation. All three of these forms of money and their monetary bases cannot be expanded as fiat currencies can, and statistics show that the U.S. money supply is now 24% higher than it was before the pandemic-related stimulus packages. Now the Federal Reserve’s own books , numerous status quo economists, and mainstream media publications c...

Former congressman Ron Paul has warned of a government crackdown on bitcoin and safe-haven assets may not be safe from government intervention. “The government is the threat,” he said, noting that “they will crack down because they have the ability to do it.” Ron Paul Warns of Government Threat to Bitcoin Former presidential candidate Ron Paul shared his view on the government’s intervention on bitcoin in an interview last week with Kitco News’ Michelle Makori. Paul is an American author, physician, and retired politician. The former congressman from Texas launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis to the breaking issues affecting our lives and finances,” its website describes. Paul was asked about the “threat of potential gold confiscation or one form or other of government intervention because that concern is rising.” Several well-known hedge fund managers, like Bridgewater Associates founder Ray Dalio and “The Big Short” investor Mic...

Personal finance expert Dave Ramsey has given some advice on what to do with bitcoin investments. While acknowledging that the cryptocurrency has had a “fabulous” run, Ramsey still prefers putting his money in more “proven” investments. Dave Ramsey Still Not a Fan of Bitcoin Famous radio show host and best-selling author Dave Ramsey gave some advice about bitcoin on The Dave Ramsey Show last week. The self-proclaimed personal money management expert, Ramsey calls himself “America’s trusted voice on money.” He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership, Dave Ramsey’s Complete Guide to Money, The Legacy Journey, and Smart Money Smart Kids. Altogether, they have sold more than 11 million copies. Ray from Louisville, Kentucky, called into The Dave Ramsey Show to ask for advice about his bitcoin investment. “In late 2019, my income roughly tripled,” he began telling his story. “And in 2020, I got real aggressi...

Paris Hilton says she is “very, very excited” about bitcoin, stating that “It’s definitely the future.” Besides confirming that she is a long-term bitcoin investor, the Hilton heiress put laser eyes on her social media profile picture and talked about her upcoming non-fungible token (NFT) projects. Paris Hilton Says Bitcoin Is ‘Definitely the Future’ Hilton heiress Paris Hilton talked about bitcoin and her upcoming NFT projects in an interview with CNBC last week. A great-granddaughter of Conrad Hilton, the founder of Hilton Hotels, Paris is often dubbed the “original influencer.” While she is a media personality, socialite, businesswoman, model, singer, actress, and DJ, many people say that she is “famous for being famous.” “I’ve always loved to be an innovator and I did my first NFT in March of 2020 and it won the NFT Charity Award, the best one of the year, so that was exciting and now to see it just blow up in the past couple months has been so exciting,” she began. Hilton was ...

PRESS RELEASE. Launched on the 1st of July 2020, Torum is a social media platform specially designed for cryptocurrency users. Symbolizing the nature of the platform, the name Torum was born from the combination of “Tokenized” and “Forum”. The platform strives to connect worldwide cryptocurrency users to form a one-stop crypto ecosystem of the industry. Torum operates on a remote team organization. The 18-member team is formed from founders and core developers from Malaysia, India and Turkey with a diversified background of UI/UX, mobile app, cybersecurity, etc. With a $300,000 initial development fund, the team behind Torum built the community organically with a top-down humble approach. Starting with just 1,000 seed users on its beta launch, the number has now risen exponentially to over 25,000 registered users. Placed in the top 50,000 Alexa rank, Torum is now a favourite hangout spot visited by cryptocurrency communities from every corner of the world, including the US, Canada...

Norwegian billionaire Øystein Stray Spetalen, who once called bitcoin “nonsense,” has reportedly capitulated and invested in the cryptocurrency after seeing another billionaire in Norway embracing bitcoin. He has also invested in a local crypto exchange. “When the facts change, I change,” he said. Norwegian Billionaire Gets Into Bitcoin After Seeing Another Making Money With the Cryptocurrency Øystein Stray Spetalen, a Norwegian billionaire, has made a complete reversal in his view of bitcoin, local publication Finansavisen recently reported. Once a bitcoin skeptic who called the cryptocurrency “nonsense,” he has now changed his mind and invested in bitcoin as well as a local crypto exchange. Norwegian business newspaper Dagens Næringsliv calls Spetalen a “multi-billionaire” and “Norway’s most famous investor.” The publication also describes him as “one of the country’s most prominent and experienced investors, [who] has made a lot of money on the stock exchange in recent months an...

The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto transactions. IRS Got Court Approval to Summon Data on Crypto Users From Circle and Poloniex The U.S. Department of Justice (DOJ) announced Thursday that a federal court has authorized the IRS “to serve a John Doe summons” on “Circle Internet Financial Inc., or its predecessors, subsidiaries, divisions, and affiliates, including Poloniex.” The notice reads: The IRS is seeking the records of Americans who engaged in business with or through Circle, a digital currency exchanger headquartered in Boston. Poloniex is named in the order since Circle bought the crypto exchange platform in 2018 but spun out the following year int...

South Africa’s Inter-governmental Fintech Working Group (IFWG) recently accepted Mercury FX, a UK-based e-money firm, into the first cohort of its regulatory sandbox. The firm, which harnesses the Ripplenet blockchain, says it wants to demonstrate its technology’s ability “to shorten the money transfer window to only minutes.” Fast and Low Remittances Further, Mercury FX, which claims to have piloted the use of this technology in the Philippines and Mexico, says its solution, aided by the XRP token, will enable low-cost cross-border remittances. In addition to Ripple, the firm also reveals it will be partnering with Valr (a local crypto exchange) towards this objective. However, according to a statement issued by IFWG, Mercury FX’s acceptance into “sandbox does not indicate a change in a firm’s licensing status or signal tacit or implicit approval of the product or service under consideration.” This, therefore, means Mercury’s test run of its service will still be “subject to ce...