Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Prague, Czech Republic, 5 Nov 2021, StackSwap, the first complete DEX and Launchpad on the Bitcoin Network has announced the completion of its private round. According to the official press release, the blockchain platform was able to raise $1.3 million during the funding round. The investment round was led by the Stacks Foundation along with key blockchain venture capitalists including HashKey, Genesis Block Ventures (GBV) and SOSV. The early investors share the long-term vision of StackSwap to eventually become the biggest DEX on the Bitcoin Network. Stacks protocol on which Stackswap is built has attracted over $93 million in investments from renowned institutional investors like Coinbase Ventures and Winklevoss Capital. It is built on a Bitcoin-based layer-1 project that implements a smart contract function on Bitcoin and was the first token sale to be approved by the United States SEC. StackSwap released a statement following the successful private funding round...

On November 10, 2021, Vogue Singapore, a team dedicated to fashion, beauty, and “stories that matter,” is launching a non-fungible token (NFT) drop on the marketplace Opensea. The drop will be the fashion and lifestyle magazine’s first NFT collection featuring digital-only Vogue covers crafted by NFT artists. Vogue to Drop the Firm’s First NFT Collection The fashion and lifestyle magazine Vogue and its subsidiary from Singapore is entering the world of non-fungible token (NFT) collectibles. The fashion firm is an old company as it was founded in 1892 by Arthur Baldwin Turnure, and the American company has since created a number of international offshoots. Vogue Singapore announced the launch of Vogue’s first NFT collection hosted on Opensea on November 10. The drop will feature “two digital-only cover NFTs created in collaboration with local and international digital designers,” Vogue Singapore’s team details. One of the Vogue Singapore NFT covers was crafted by the metaverse arti...

New York City Mayor-elect Eric Adams plans to make NYC the center of crypto and innovation. He says we must open our schools to teach cryptocurrency and blockchain technology, noting that bitcoin is “a new way of paying for goods and services throughout the entire globe.” NYC Mayor-Elect Wants Schools to Teach Bitcoin, Crypto, Blockchain New York City Mayor-elect Eric Adams talked about making NYC the center for innovation and cryptocurrency in an interview with CNN Business Sunday. He also explained the reasoning behind his tweet saying that he will take his first three paychecks in bitcoin. Adams was asked, “Would you encourage businesses in New York City to accept bitcoin or other cryptocurrencies?” He replied: “We are going to look at it. We are going to tread carefully. We are going to get it right.” He proceeded to explain: “l want to send a signal. This city was the Empire State … This is the center of innovation, self-driving cars, drone development, cybersecurity, life s...

Square Inc. has affirmed that its focus is on helping bitcoin become the native currency for the internet. CEO Jack Dorsey explained, “We have a number of initiatives toward that goal” that will help “bitcoin reach a mainstream audience while at the same time strengthening the network and ecosystem.” Square’s Focus Is on Helping Bitcoin Become the Native Currency for the Internet Square Inc. reiterated its commitment to bitcoin during the company’s Q3 earnings call Friday. Square also revealed that its mobile payment platform Cash App generated $1.8 billion in bitcoin revenue . Square’s market cap is currently $110 billion. During the call, Dorsey was asked whether Square is “looking to expand into crypto beyond bitcoin buy and sell,” such as offering other cryptocurrencies and enabling users to “engage in defined NFT ecosystems.” Dorsey simply replied, “We’re not,” emphasizing: Our focus is on helping bitcoin to become the native currency for the Internet … We have a number of ...

Building great products and teams is something Dushyant Acharya has approached with passion in his eighteen months as a Senior Manager in Engineering at Ripple. The road to creating the Internet of Value isn’t linear, but Dushyant navigates with commitment and enthusiasm. “I absolutely love everyone I work with, especially my team,” says Dushyant. “They … Continued The post Making an Impact with the Asian at Ripple Community appeared first on Ripple. http://dlvr.it/SC84C0

On November 8, 2021, the cryptocurrency economy’s market capitalization reached the $3 trillion mark after gathering significant value over the course of 12 years. The overall value of the 10,464 crypto-assets in existence is now larger than Microsoft’s market valuation at $2.52 trillion and Apple’s $2.47 trillion market cap. Cryptocurrency Economy Is Now More Valuable Than Company’s Like Microsoft, Apple, Google, Saudi Aramco Statistics indicate that on Monday, November 8, the net worth of the entire crypto-economy is valued at over $3 trillion, after jumping roughly 3.7% in value during the last day. The 10,464 coins in existence, worth over $3 trillion, have produced $206 billion in global trade volume during the last 24 hours. Years ago, people laughed and described crypto as merely valueless ‘Beanie Baby’ collectibles. Today, however, most are not laughing and they are either angry or simply taken back by the momentum of value. The crypto economy’s climb to $3 trillion has bee...

PRESS RELEASE. Popular Bitcoin ATM operator, Bitcoin of America, has announced their newest location in one of Chicago’s hottest nightclubs. Joy District is known for its nightclub/restaurant hybrid. It is located in the heart of River North and has been awarded as one of Chicago’s best and hottest rooftop bars. You can now socialize at Joy District with friends and even interact with a Bitcoin ATM all at the same time. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Bitcoin of America is known for ensuring a fast and hassle-free transaction, while providing top of the line customer support. They are headquartered in Chicago and have locations in most major cities across 31 US states. To date, Bitcoin of America has 30 plus Bitcoin ATM locations across the city of Chicago. You can find a majority of their locations in convenience stores, liquor stores, and 24-hour gas s...

Nike, the American multinational footwear and sports apparel giant, is getting ready to step into the metaverse and the world of non-fungible token (NFT) technology. Reports show Nike has a few employees “thinking about the metaverse” and a 2019 patent for “cryptokicks” indicates Nike has been preparing to use NFTs for quite some time. Nike’s Well-Known Trademarks and ‘Downloadable Virtual Goods’ Several reports indicate that Nike ( NYSE:NKE ) is getting ready to step into the non-fungible technology realm and the footwear corporation may have been preparing to do so for a while now. The senior correspondent at Business Insider’s (BI) retail desk, Matthew Kish, explains in a recent analysis that “Nike is going all in on its metaverse play.” The report discusses Nike’s recent U.S. Patent and Trademark Office filing published this week. A number of well-known trademarks Nike owns were also included such as the “ Just Do It ” tagline, its SNKRS logo, the Air Jordan “Jumpman,” and...

While companies like Microbt, Bitmain, Innosilicon, Strongu, Ebang, and Canaan have ruled the roost in terms of manufacturing application-specific integrated circuit (ASIC) bitcoin miners, a new challenger has entered the competition. A relatively unknown integrated technology firm called AGM Group Holdings has seen a lot of ASIC sales and partnerships in recent times. A Relatively Unknown Semiconductor Firm Has Been Revealing Large Bitcoin Mining Rig Purchase Orders 2021 has seen record sales, in terms of ASIC mining rigs sold by bitcoin mining rig manufacturers like Microbt, Bitmain, and Canaan. Mining operations located all around the world have purchased thousands of bitcoin mining devices from these firms during the last year. The demand for ASICs has been so high, many orders placed this year are due to be shipped at some point in 2022. Now a new challenger has entered the ASIC bitcoin mining rig manufacturing competition and recent press announcements detail AGM Group Holdin...

While gold is generally perceived to be the best hedge against inflation, a report written by author Kelsey Williams has now questioned this longstanding assertion. In the report, Williams argues that the current gold price of around $1,810 per ounce is much lower than the commodity’s average price in 1980. Gold Price Rise Lags Behind Inflation Williams’ averments suggest the yellow metal’s rate of increase in value over the past 41 years has lagged behind that of inflation. In a report that was published by FX Empire, the author uses nominal and inflation-adjusted gold prices to illustrate this point. For instance, according to a table shared in the report, the nominal price of gold has been on an upward trajectory from $664 per ounce recorded in February of 1980 to $1,825 by August 2011. However, when adjusted for inflation, it is the February 1980 price that rises the fastest, to $2,309, compared to the August 2011 price which is pegged at $2,220. A similar trend is also obser...

The following article was written by CZ, Binance CEO & Co-Founder. DYOR, or do your own research, is a concept I think every investor should know about. It’s as close to a golden rule as anything in the world of crypto, but it applies more even broadly to anything you’re planning to invest in, from Bitcoin and bonds to stablecoins and stocks. Earlier this week, the anonymous developers behind a DeFi project named Squid Game token abruptly performed a “rug pull”, a common scam where the team behind a crypto project takes off with users’ funds. Because these scams are becoming more commonplace as the DeFi space grows, I’d like to take this opportunity to remind users that DeFi is not without its risks, and we hate to see anyone lose their funds due to scams and other cybercrimes. Squid Game Tokens: What Happened and Why? Last week, a cryptocurrency called SQUID began trading on PancakeSwap, a decentralized exchange. It quickly gained traction among users, many of whom thought th...

Authorities in Russia are gearing up to amend various pieces of legislation to facilitate the issuing and function of the digital ruble. Officials in Moscow believe this version of the national fiat needs to be regulated separately from other digital forms of money such as cryptocurrencies. Russia Prepares to Trial Digital Ruble, Officials Say CBDC Needs Its Own Regulations Russian lawmakers are planning to begin work on legal changes necessary to implement the digital ruble concept in January 2022. These efforts will commence alongside the launch of an experiment for the central bank digital currency ( CBDC ), the chairman of the parliamentary Financial Market Committee, Anatoly Aksakov, told the Russian daily Izvestia. Aksakov pointed out that at least eight federal laws and five codes — the Civil, Tax, Budgetary, Criminal, and Administrative Code — need to be amended for the digital ruble’s implementation. The new provisions will concern a number of areas such as the powers of B...

Square Enix, one of the biggest developers and publishers in the gaming world, has acknowledged the importance that NFTs and blockchain gaming could have for the future of the company. In its latest briefing session, Square Enix contemplated a “robust entry” into the blockchain games sector as part of its medium-term strategy process. Square Enix to Enter Blockchain Market Square Enix, developers of popular gaming franchises such as Final Fantasy, Dragon Quest, and Kingdom Hearts, has revealed intentions of expanding its business model to now tackle the blockchain gaming market. The company made these remarks in its latest results briefing session on November 5, where Square Enix stated it would make a ‘robust entry’ into the blockchain gaming arena as part of its medium-term business strategy process. In the briefing, Square Enix recognized the change in attitude gamers are experiencing, wanting to have more control over the universe with which they interact. Furthermore, the comp...

Solana Ventures, the investment arm of the Solana blockchain, FTX, and Lightspeed, a venture capital firm, have announced the launch of a joint web3 gaming initiative. The fund will have $100 million at its disposal to invest in gaming projects using blockchain-based systems in the Solana network. The fund has already made its first investment in Faraway, a Solana-based gaming company. Solana Ventures, FTX, and Lightspeed Put Funds Behind Blockchain Gaming A new blockchain gaming fund has been launched by Solana Ventures, the investment arm of the Solana blockchain , FTX, and Lightspeed, aiming to fund the most innovative blockchain gaming proposals built on the Solana network. The joint effort will invest $100 million in these kinds of initiatives to kickstart development in the Solana ecosystem. Amy Wu, a partner at Lightspeed, expressed excitement about this joint effort and what they are trying to achieve with the investment. She stated: We are looking to back great teams, b...