Bitcoin News and Finance: What You Need to Know

During the second week of October, the total value locked (TVL) in decentralized finance (defi) protocols crossed $200 billion, and two weeks later in November, the TVL in defi surpassed $250 billion gaining 25% in value. Meanwhile, Ethereum commands more than 67% of the $253 billion TVL in defi today, gaining 4.65% during the last seven days while Solana’s TVL increased by 5.99% this past week. Defi TVL Increases by 25% in 2 Weeks The total value locked (TVL) in defi has reached an all-time high, tapping $253.94 billion on November 3, 2021. On October 12, Bitcoin.com News reported on the defi TVL surpassing $200 billion and in two weeks the value has expanded by 25%. Value expansion is not only due to more value being added to defi protocols, but crypto assets like ethereum (ETH) , solana (SOL) , and avalanche (AVAX) have seen significant gains. Today, the TVL on the Ethereum blockchain is 67% or $171.24 billion , according to defillama.com stats. The second-largest defi blockcha...

PRESS RELEASE. Palo Alto, CA – LTNM, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 LTNM ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of the LTNM Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, LTNM has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for LTNM to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help LTNM install 100,000 ATMs across all 50 US states, wher...

The leading crypto industry association in Iran has slammed authorities for their passive stance regarding crypto regulation. The government’s inaction is a source of concern, the organization said, offering its assistance to regulators whom it considers not sufficiently qualified to deal with the complex issue. Blockchain Association Proposes Public-Private Partnership on Crypto Rules in Iran Tehran authorities such as the Central Bank of Iran ( CBI ) are not capable of regulating cryptocurrencies, according to the head of the Iran Blockchain Association ( IBA ). Тhe country’s main organization representing members of the crypto sector called for the establishment of an “independent counsel” to take on the job. During a press conference this week, the head of the IBA, Abbas Ashtiani, elaborated: We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not ...

Mobius Capital Partners founder Mark Mobius says that cryptocurrency is not an investment, calling it “a means to speculate and have fun.” He prefers stocks and believes “the U.S. market is going to continue to prosper and continue to do well.” Mark Mobius Does Not See Crypto as an Investment Mark Mobius, the founder of Mobius Capital Partners, talked about cryptocurrency in an interview with CNBC Wednesday. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018. “It’s not an investment. It’s a religion,” he said about crypto, elaborating: People should not look at these cryptocurrencies as a means to invest. It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day. Unlike Mobius, many famous investors and fund managers see bitcoin as a good i...

The Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. Commonwealth Bank Begins Offering Crypto Services Commonwealth Bank (CBA), also known as Commbank, announced Wednesday that “it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets,” which will be directly through its Commbank app. Australia’s biggest lender explained that it has partnered with New York-based crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. “Both partnerships have allowed the bank to design a crypto exchange and custody service that will be offered to customers through a new feature in the app,” Commbank detailed. The bank’s mobile banking app is used by about 6.4 million customers. N...

According to reports, the founder of the now-defunct Silk Road 2 marketplace has forfeited more than half-million dollars worth of bitcoin to British authorities. White’s Silk Road 2 admin handle was called “Cthulhu,” and he also dubbed himself as “DPR2.” Silk Road 2 Admin Thomas White Forfeits $667K in Bitcoin In April 2019, Bitcoin.com News reported on Thomas White, the lead administrator of the now-defunct Silk Road 2 darknet marketplace (DNM), getting sentenced to five years in prison. The Silk Road 2 (SR2) DNM was the original Silk Road’s successor, after the first Silk Road administrator was taken into custody. The 26-year-old White ran the DNM under the names “Cthulhu” and “DPR2,” and was eventually tracked when he ordered a package from the SR2 marketplace itself. Sky News reports that White has been forced to hand over £490,000 ($667,000) worth of bitcoin from his net proceeds. The prosecutors continued to monitor White’s finances after he was jailed and the National Cri...

ADALend is a scalable and decentralized lending protocol governed by a decentralized autonomous organization (DAO). ADALend will offer various features that will provide its users with decentralized financial instruments accessible to everyone with access to the internet, without the complicated KYC requirements of the mainstream banking system. The protocol will improve digital assets’ capital efficiency by enabling assets accumulated to fund multiple loan pools. The protocol will utilize the Cardano blockchain to flesh out DeFi potential as a viable replacement to the traditional financial sector. Green Blockchain Blockchains of the future will be required to have a lower impact on the environment, working efficiently without consuming enormous amounts of energy to remain operational. Cardano has been one of the most energy-efficient blockchains in the industry. 1.6 million times lower than bitcoin and well below the average level of high market capitalization coins. Cardano h...

This week, U.S. lawmakers are preparing to debate the advance of Joe Biden’s Build Back Better proposal, which is now estimated at $1.75 trillion. The new proposal follows the expansive monetary policy the Federal Reserve engaged in during the last two years expanding the money supply like never before. Meanwhile, U.S. inflation is at a 30 year high and the central bank’s Federal Open Market Committee (FOMC) plans to assess new strategies today. Biden Slims Down ‘Build Back Better’ Plan Last week, U.S. president Joe Biden offered a slimmed-down “ Build Back Better ” proposal from its original $3.5 trillion to the current estimate of $1.75 trillion. The proposal follows the massive monetary expansion that stemmed from the U.S. Federal Reserve adding credit to its member banks’ deposits. In order to deal with the economic disaster caused by the government’s Covid-19 mandates, the Fed’s monetary expansion eclipsed two centuries of USD creation. The latest 1,600-page proposal from the...

Green Bay Packers quarterback Aaron Rodgers is taking a portion of his salary in bitcoin. He also gave away $1 million in the cryptocurrency to his fans in collaboration with Square’s Cash App. “I believe in bitcoin,” he said, adding that “the future is bright.” Green Bay Packers’ Aaron Rodgers Takes Part of His NFL Salary in Bitcoin American football quarterback for the Green Bay Packers of the National Football League (NFL), Aaron Rodgers, explained in a video he posted on Twitter Monday that he is taking a portion of his salary in bitcoin. In addition, he gave away $1 million in the cryptocurrency in partnership with Square’s Cash App. Rodgers said: Bitcoin to the moon … That’s why I’m pumped that I recently teamed with Cash App. They have enabled me to take part of my NFL salary in bitcoin for the very first time. He also wrote: “I believe in bitcoin & the future is bright.” The Green Bay Packers and Rodgers signed a four-year, $134 million deal before the start of the...

The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral “remains safely held by Coinbase,” emphasizing, “It’s not lent out or used for any other purpose.” Customers Can Borrow up to $1M With Bitcoin as Collateral From Coinbase Cryptocurrency exchange Coinbase announced Tuesday: We’re excited to announce that eligible customers can now borrow up to $1 million USD from Coinbase. On its website, the Nasdaq-listed crypto exchange explained that eligible customers can “Borrow cash using bitcoin as collateral,” noting that borrowers will “Pay just 8% APR with no credit check.” The company explained that customers can borrow as much as 40% of the value of the bitcoin in their account, up to $1 million. “Each month you only need to pay the interest due ($10 min),” Coinbase said, adding that there is no prepayment...

With а growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country’s security agency announced it’s stepping up efforts to ensure the nation’s energy system is well-protected from such consumers. Large-Scale Illegal Mining Operation Uncovered in Central Ukraine The Security Service of Ukraine (SBU), the country’s top law enforcement agency, is intensifying “systematic work to ensure the protection of critical infrastructure of the United Energy System of Ukraine,” a press release revealed this week. The announcement provides details about its latest operation against illegal crypto mining in the country: An underground cryptocurrency farm has been exposed in Cherkasy region. The operators stole industrial volumes of electricity from the regional power grid for bitcoin mining. Preliminary estimates shared by the SBU suggest that the Ukrainian state has suffered financial ...

PRESS RELEASE. Cybersecurity company FortKnoxster launches its one-stop crypto app, Crypto Suite , with a range of features aimed at the crypto-and-security lovers. Among the features, which all are protected by strong end-to-end encryption, are: Fiat to crypto and reverse Crypto to crypto exchange Store and transfer NFTs Send/request crypto direct in the secure chat Video calling, group chats, storage, voice messaging PIN/Biometric security protection Upgrades using the FortKnoxster coin, FKX With security breaches in the world of blockchain technology and cryptocurrency becoming more frequent, FortKnoxster has made use of what is known as a Hierarchically Derived (HD) wallet model, allowing enhanced security and strong protection. Combined with default and seamless end-to-end encryption, the security level is very strong. Crypto Suite, which initially is in beta, is free of charge to use all features in the Crypto Suite. A PRO upgrade gives, among other benefits, access t...

Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange. The acquisition will help the bank “create new growth value in the long term amid a new financial world,” said the CEO of the bank. Major Thai Bank Becoming Majority Shareholder of Cryptocurrency Exchange Thailand’s oldest lender, Siam Commercial Bank (SCB), announced Tuesday that its subsidiary, Siam Commercial Securities Company Ltd. (SCBS), is acquiring a 51% stake in local crypto exchange Bitkub for 17.85 billion baht ($536 million). SCB is the country’s fourth-largest lender by assets. The acquisition will help the SCB Group “create new growth value in the long term amid a new financial world,” CEO Arthid Nanthawithaya said, adding: In the past 1-2 years, the digital asset industry, one of the financial industries of the future world, has grown rapidly, and it could grow further in the long term. The deal is expected to be completed by the first quarter of 202...

On Tuesday, the San Francisco-based fiat-to-crypto and payment infrastructure company, Wyre, announced the launch of a non-fungible token (NFT) market tool that gives developers the ability to create NFT marketplaces in less than 24 hours. Wyre Claims Devs Can Build an NFT Marketplace in 24 Hours Non-fungible token (NFT) assets have been a hot topic all year long and the trend has continued strong toward the end of 2021. This year well known firms and exchanges like Crypto.com, FTX, and Coinbase have launched NFT marketplaces. Creators have also leveraged markets like Makersplace, Mintable, Rarible, and the leading NFT marketplace Opensea. On November 2, Wyre announced the launch of an all-in-one NFT market solution that provides developers with the tools needed to build an NFT market in less than a day. Wyre is a San Francisco-based payment platform co-founded by Michael Dunworth and Ioannis Giannaros. The firm is backed by businesses like Draper Associates, Digital Currency Grou...

Black Rock Rhino, a leading rhino conservancy in South Africa, is set to raise funds for the endangered species via the auction of rhino horn non-fungible tokens (NFTs). Auction Proceeds to Pay for Sanctuary’s Expenses In what has been billed a first, the rhino conservancy — which is home to over 200 rhinos — together with a blockchain technology firm Virtual Nation Builders, is set to auction the non-fungible tokens at one of South Africa’s biggest NFT marketplaces, Momint. According to a statement released by Black Rock Rhino, the proceeds from the November 11 auction will be used to pay for some of the sanctuary’s day-to-day expenses. “The net proceeds will go towards securing the area, feeding, vaccines as well as the other day to day operating expenditure of the conservancies,” explained the statement. In addition to funding the conservancy’s daily expenses, proceeds from the sale are expected to aid conservationists in their ongoing efforts to reduce the number of rhino dea...