Bitcoin News and Finance: What You Need to Know

A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will not achieve the intended objectives. He adds that regulators must learn from history that violently opposing an emerging innovation will not kill it. He explained: Technology has prevailed against violent and regulatory opposition. During the era of the industrial revolution, some workers in Britain rioted against mechanised manufacturing firms. Blue-collar workers waged a war against technology. They physically destroyed production machinery, cotton and woollen mills. Dagada also shared a recent example of how “some people in the UK and SA falsely accused 5G technologies of causing the COVID-19 pandemic, and destr...

As the lawsuit with the U.S. Securities and Exchange Commission (SEC) continues, Ripple CEO Brad Garlinghouse insists that the Commission has provided no clarity in crypto regulation. He said the SEC is using its meetings with crypto companies as lead generation for enforcement actions, and the agency has lost sight of its mission to protect investors. Ripple’s CEO Claims SEC Uses Meetings With Crypto Companies as Lead Generation for Enforcement Actions Amid the SEC’s lawsuit over XRP , Ripple CEO Brad Garlinghouse reiterated his concerns over the lack of clarity in crypto regulation provided by the securities watchdog. He tweeted Saturday: American innovation is on the line because of the SEC’s refusal to provide a clear framework for crypto. Instead of working with the industry, the SEC is using their meetings with companies as lead generation for their enforcement actions. The Ripple CEO’s tweets followed his interview with Fox Business Friday where he also talked about the l...

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may crash too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies. Robert Kiyosaki Warns of ‘Giant’ Market Crash in October Famous author and investor Robert Kiyosaki has predicted that a “giant stock market crash” is coming in October, noting that gold, silver, and bitcoin may crash as well. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Saturday: Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold, silver, bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold, silver, bitcoin, yet have lots of cash for lif...

The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is ‘in Good Shape’ — ‘I’m Not Nervous’ Galaxy Digital CEO Mike Novogratz commented on the crypto market and the latest news of China’s crackdown on cryptocurrencies Friday. He explained that the crypto market was down for three reasons. The first is China reiterating its anti-crypto and anti-freedom stance. The second is the U.S. Federal Reserve “putting taper in motion,” and the third is the big overhead resistance level for bitcoin and ether. Novogratz noted that he believes BTC and ETH will consolidate. At the time of writing, the price of bitcoin stands at $43,695 and the price of ether stands at $3,090 based on data from Bitcoin.com Markets. Furthermore, the billionaire CEO believes that ...

CryptoKitties was the first to bring blockchain gaming to life, and games such as Axie Infinity defined how a good blockchain game should be. The Three Kingdoms aims to build on this with their next-generation play-to-earn game. The Three Kingdoms is a highly strategic third-generation NFT game based on the historical characters of the Three Kingdoms period in ancient China. The historical characters enable users to have engaging gameplay while obtaining rewards for their achievements. The Next Generation of GameFi What does the new era of play-to-earn games mean? The TTK team believes the current generation of NFT games has limited ways for players to earn in them. Additionally, they suffer from outdated and cartoony graphics and minimal gameplay features. The Three Kingdoms team set out to build a blockchain game that features multiple methods never seen before in the GameFi market to earn tokens. Additionally, they are creating an authentic gaming experience that compares more ...

Following the latest statements from China’s central bank concerning cryptocurrencies and offshore crypto exchanges, massive amounts of funds have been moving onchain. On September 26, at approximately 1:00 a.m. (UTC) 72,999 BTC or $3.1 billion in bitcoin was dispersed to unknown wallets. Huobi to Gradually Retire Mainland China Users, 800K Ether Move from Huobi to an Unknown Wallet Word around the crypto campfire is that offshore exchanges near China are seeing massive amounts of crypto transfers during the last few days. For instance, theblockcrypto.com writer Wolfie Zhao revealed on September 25 that the Chinese government’s crackdown has “spooked some retail users” and the action had spilled over to over-the-counter (OTC) markets. Zhao’s report shows a screenshot of “OTC merchant quotes for USDT against Chinese yuan on Huobi.” Following Zhao’s report, Huobi detailed to users on Sunday that the crypto exchange would “gradually retire existing mainland China users.” Meanwh...

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the responses were “withheld because of possible law enforcement investigation.” Jacob Silverman Sought ‘Access to All Documents, Emails, Memos, and Reports Related to Tether’ There’s a ton of stablecoins these days and today, all the stablecoins in existence are valued at $129.7 billion . The oldest stablecoin and the largest, in terms of market valuation, tether ( USDT ) commands $69.7 billion of the aggregate total of all stablecoins. This Friday, a staff writer from the publication The New Republic, Jacob Silverman , tweeted that he had filed for a FOIA request concerning “Tether” and “Tether Operations Limited.” Essentially, a Freedom of Information Act (FOIA) request allows ...

The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies and a darknet market operating in the region. Co-Founder of Suex Fired by MTS Bank, Another Quits Job at Chatex Russian entrepreneur and financial executive Vasily Zhabykin, one of the founders of troubled crypto broker Suex, has been released from his managerial role at MTS Bank, where he headed the innovative Neo bank project, Kommersant reported. Quoting a source familiar with the matter, Russia’s leading business daily added that the dismissal was due to the U.S. sanctions imposed over the platform’s alleged money laundering operations . The news comes after one of Zhabykin’s partners at Suex, co-owner Egor Petukhovsky, announ...

While a number of popular crypto-assets like bitcoin have been consolidating, decentralized finance (defi) tokens have captured significant gains during the last 24 hours. A few defi crypto assets have seen double-digit gains and the leader of the pack is Uniswap which has jumped 20.9% in the last 24 hours. Uniswap’s Defi Token Leads the Percentage Gains on Sunday Decentralized finance (defi) tokens are making waves during Sunday’s crypto trading sessions, as a dozen defi tokens have seen better gains than most of today’s well known digital assets. While bitcoin ( BTC ) has risen 2% today and ethereum ( ETH ) is up over 3%, crypto tokens like uniswap (UNI) and sushi (SUSHI) have seen double-digit gains. Uni has jumped over 20% during the last day while SUSHI is up 15.6%. Both UNI and SUSHI are followed by coins like maker ( MKR ) up 11.5%, ftx token (FTT) up 10.6% today, and chainlink (LINK) which has risen 10.3% on Sunday. Uniswap (UNI) has a $12.1 billion market valuation today ...

Buying a Rolex watch or a Chanel bag with Bitcoins? It becomes possible with LuxFi. With the vision to bridge the gap between real-world luxury assets and digital assets (NFTs), LuxFi has announced the planned launch of its NFT marketplace. The introduction of LuxFi’s marketplace allows everyone to buy, sell and invest in luxury assets through NFTs, with the possibility of using cryptocurrency and traditional payment methods. The phygital world of luxury evolved into an integral part of human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The digital revolution has won over the hearts of consumers worldwide, and the prosperous global luxury market has displayed no signs of stopping soon. LuxFi’s NFT Marketplace LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. The company will launch a platform to assist consumers by ...

On September 24, 2021, the Fantom Foundation announced the launch of a new non-fungible token (NFT) marketplace that aims to compete with the myriad of NFT markets out there today. The market dubbed Artion is an NFT marketplace built on the Fantom network and claims to bolster “0% commissions, with the near-zero transaction costs.” Fantom Reveals Beta Version of the NFT Marketplace Artion A new NFT marketplace has been announced by the Fantom Foundation following the billions of dollars worth of NFT sales stemming from veteran NFT markets that leverage the Ethereum ( ETH ) network like Opensea, Rarible, and Makersplace. In more recent times, the Ethereum network, due to excessive network fees and transaction congestion, has been losing ground to other blockchains like Avalanche (AVAX), Solana (SOL), Binance Smart Chain (BSC), Terra (LUNA), Tezos ( XTZ ), and more. This includes taking money from decentralized finance (defi) and non-fungible token (NFT) sales as other blockchains a...

Authorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations. The breakaway republic of Georgia has been struggling with power shortages blamed on underground miners. 30,000 Rigs Remain in the Hands of Miners, Government Says In recent years, a growing number of people in Abkhazia , a partially-recognized de facto state in the South Caucasus, have turned to cryptocurrency mining as an alternative income source. However, the government of the Russia-backed republic has targeted the energy-intensive process as a major cause of the territory’s growing electricity deficit. A temporary ban on mining activities and hardware imports was introduced back in 2018 and extended this spring until March 31, 2022. But officials in Sukhumi have recently admitted their efforts to impose the restrictions throughout the region have largely proved unsuccessful. At a press confer...