Bitcoin News and Finance: What You Need to Know

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of England’s Jon Cunliffe Warns Crypto Is Closer to Becoming a Threat to Global Financial Stability Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, talked about bitcoin and cryptocurrencies in general on BBC’s Today program Monday. He warned that cryptocurrencies, including bitcoin, are getting closer to becoming a threat to global financial stability due to their rapid growth. Cunliffe said: My judgement is they’re not, at the moment, a financial stability risk, but they are growing very fast, and they’re becoming integrated more into what I might call the traditional financial system. The Bank of England official...

PRESS RELEASE. INTERNET CITY, DUBAI, Nov. 15, 2021 – LBank Exchange, a global digital asset trading platform, will list LMCSWAP (Limocoin Swap) on November 15, 2021. For all users of LBank Exchange, the LMCSWAP/ USDT trading pair will be officially available for trading at 21:00 (UTC+8) on November 15, 2021. In the ever-evolving African continent, blockchain technology and crypto are changing its economic landscape dramatically. Limocoin Swap (LMCSWAP) is a token created to allow, by the principle of crypto assets, the evolution of market solutions. The LMCSWAP token will be listed on LBank Exchange at 21:00 (UTC+8) on November 15, 2021, to further expand its global reach and help it achieve its vision. Introducing Limocoin Swap Limocoin Swap is based on a strong community built in four years by one of the subsidiaries of the parent company SIMTREX COMMERCIAL BROKERS LLC, GIT S.A. The premium product Liyeplimal is a private investment tool in the cryptocurrency industry, through ...

The CEO of the world’s largest movie exhibition company, AMC Entertainment, says that payment service provider Bitpay has agreed to support the meme cryptocurrency shiba inu (SHIB) at his request. AMC will be able to accept shiba inu crypto for payments within the next few months. AMC Says Bitpay Agrees to Support Shiba Inu: SHIB to Be Accepted for Payments at AMC Soon AMC CEO Adam Aron announced Monday evening that AMC will soon be able to accept the meme cryptocurrency shiba inu (SHIB). AMC is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, the company owned or operated about 950 theaters and 10,500 screens globally. He tweeted that crypto payment service provider Bitpay has decided to support shiba inu specifically because he asked them to. Therefore, AMC will be able to take SHIB for online payments of movie tickets and concessions in about 60 to 120 days. Aron added that AMC Theatres is set to become the first Bitpay client to accept sh...

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says that he has never shorted any cryptocurrency. He further warned that the current bubble is the biggest one. Michael Burry on Bubbles and Shorting Cryptocurrencies Famous investor and founder of private investment firm Scion Asset Management, Michael Burry, has confirmed on Twitter that he has never shorted cryptocurrency. Burry is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. He tweeted Sunday: I’ve never shorted any cryptocurrency. This is my third bubble, and the biggest. I’ve learned a thing or two. 30 year Treasuries on the other hand… In October, he said, “I believe that cryptocurrencies are in a bubble.” However, he clarified in an interview with CNBC that h...

Investment firm Paradigm has launched a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. The firm believes that the “new fund and its size are reflective of crypto being the most exciting frontier in technology.” $2.5 Billion Fund for Crypto Industry Investment firm Paradigm announced Monday the launch of a $2.5 billion venture fund to invest in the next generation of crypto companies and protocols. Matt Huang and Fred Ehrsam, who co-founded Paradigm in 2018, explained: Our conviction in these beliefs has only strengthened over the past three years, and we are pleased to announce a new $2.5 billion venture fund to continue investing in the next generation of crypto companies and protocols. “This new fund will invest alongside our existing flagship fund across all stages and geographies,” they noted. Ehrsam also co-founded the Nasdaq-listed crypto exchange Coinbase. Huang was previously a partner at Sequoia Capital focusing on early-s...

PRESS RELEASE. SEYCHELLES, 15 November 2021 – CoinFLEX , leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network. The partnership expands CoinFLEX’s crypto yield products to more institutional investors globally, starting with flexUSD, the world’s first interest-earning stablecoin. This partnership will help accelerate flexUSD to a US$1 billion market cap by Q1 2022. flexUSD is currently paying 16% APY and has distributed $11 million in interest to holders over the past 12 months. The partnership will enable Copper’s 300+ institutional asset managers to trade flexUSD on CoinFLEX while securely storing their assets offline and off the exchange. The integration with ClearLoop adds an extra layer of regulatory assurance for institutional investors, while providing more crypto trading options to Copper’s clients. ClearLoop connects e...

While bitcoin’s value has remained well above the $60K range, the network’s hashrate has surged to over 184 exahash per second (EH/s) as mining devices are far more profitable at these prices. The price has made it so that older generation mining devices manufactured over four years ago, with processing power of more than 8 terahash per second (TH/s), can make a daily profit mining the leading crypto asset. Bitcoin Hashrate Follows Ethereum’s Hashrate Toward All-Time Highs On November 15, 2021, Bitcoin’s hashrate climbed to 184 EH/s gathering 17.19% more hashpower than the network saw a mere two days ago on November 13 . Bitcoin’s (BTC) hashrate is getting close to nearing its all-time high (ATH), which was recorded on May 9, 2021, at 191 EH/s. Today’s Bitcoin hashrate metrics show that the hashpower is only 3.8% away from surpassing its ATH, according to coinwarz.com data. In addition to BTC ’s hashrate nearing ATH, the second-largest crypto asset in terms of market valuation, e...

During the last week, mainstream media outlets have been publishing reports that say “Bitcoin’s creator Satoshi Nakamoto could be unmasked at [a] Florida trial.” Alongside this, the name “Satoshi Nakamoto” has been trending in people’s discussions on social media for the last few days as well. The Internet Is Buzzing Over Conversations Concerning Bitcoin’s Mysterious Creator Last week, the long-awaited Kleiman v. Wright trial started in Florida and the court case has sparked significant interest from mainstream media publications like Fox News , the Daily Mail , and the Wall Street Journal . Vertical trends on Twitter also indicate that the name “Satoshi Nakamoto” has been in the midst of many conversations this week. Since October 2, interest in Bitcoin’s creator has increased 48.71%, according to Google Trends’ search query score for the topic “Satoshi Nakamoto.” The aforementioned media publications have been asserting in a few editorials that the Florida trial could uncover t...

India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.” First Parliamentary Meeting Dedicated to Crypto With Stakeholders and Industry Experts India’s Standing Committee on Finance held a meeting with representatives from the crypto industry Monday. This was India’s first-ever parliamentary discussion of the broad subject of crypto finance involving the industry. According to a notice posted by Lok Sabha Secretariat, the official agenda of the meeting circulated to members of parliament was to hear the views of associations and industry experts “on the subject of ‘cryptofinance: opportunities and challenges.’” The meeting was chaired by BJP’s Jayant Sinha. Sinha told news agen...

On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.” Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices Marathon ( Nasdaq: MARA ), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news comes after significant growth during the course of 2021 and at the end of October, Marathon disclosed it had mined 417 bitcoin ( BTC ). With over $457 million worth of bitcoin held in its coffers, the 417 BTC revenue was considerably larger than the month prior. “As in prior months, our bitcoin production was impacted by maintenance-related outages at the power plant in Hardin, MT and increases in the total network hash rat...

Singapore, November 15, 2021 – The Tron Foundation ( TRX ), the world’s largest blockchain decentralized application operating system, and crypto-fiat hybrid payment solutions provider, Alchemy Pay (ACH), have announced a collaboration. Alchemy Pay will integrate the TRX token into its global crypto-fiat gateway. The partnership also further entails the support of Alchemy Pay by the Tron Foundation in the provision of technical resources, cross-community promotions, and other ecological development initiatives that will foster joint efforts between Alchemy and TRON ecosystems. This partnership comes on the back of the successful test trading of TRX tokens through Bit.Store, a crypto investment platform powered by Alchemy Pay. Bit.Store is an intuitive crypto trading platform popular among new crypto investors with 500,000 users across Australia, Canada, Hong Kong, Indonesia, and the United Kingdom. The platform leverages Alchemy Pay’s fiat payment rails to enable direct fiat-to-cr...

The government in Cameroon, which is reportedly keen on regulating cryptocurrencies, is set to hold a workshop that will look at the challenges and risks of using such digital currencies in the country. Proliferation of Scams According to a report by Business in Cameroon, the workshop, which is set to be held on November 15 in Yaounde, is being organized by the Ministry of Posts and Telecommunications. At this meeting, participants are expected to review mechanisms that will help the government to regulate the cryptocurrency sector. The ministry said the country’s lack of a regulatory framework, which has led to the proliferation of scams, had prompted the government to organize the workshop. The report also revealed that the ministry will not only highlight the importance of regulation but will seek to map out cryptocurrency actors present in Africa and in the national territory. In addition, the ministry will attempt to use the meeting to estimate the extent to which the servic...

Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said: We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without getting input from stakeholders, including banks and the ministries of Finance and Foreign Affairs. According to the report by The Citizen, Soraga has already met with Joe Chuene, a representative of Hypertech and they discussed how best the island nation can adopt cryptocurrencies. The report also quotes Haji Semboja, a professor at the State University of Zanzibar’s Economics Department, who endorses t...

A new crypto tax paradigm is brewing in Argentina, where two provinces have now approved crypto tax laws. This means that Argentinian citizens must disclose their cryptocurrency holdings and pay taxes according to the trades they do in the provinces of Tucuman and Cordoba. This is because cryptocurrencies have been grouped with all other international currencies, and are therefore subject to tax. Cryptocurrencies Will Be Taxed in Certain Provinces of Argentina Cryptocurrency taxes have arrived in Argentina, at least in certain provinces. Now, users that trade and hold cryptocurrencies must disclose their earnings and pay taxes at least in two provinces: Cordoba and Tucuman. The reason behind this lies in a new regulation adopted at the province level that stipulates cryptocurrencies will be taxed like other international currencies when traded. This means that effectively, in these two provinces, cryptocurrencies are treated as other international currencies according to regulation...

William Quigley loved baseball cards during his pre-teens. As the founder of WAX (Worldwide Asset Exchange), you might think Quigley’s crowning achievement may have been to strike a deal with Topps Baseball Card company, so WAX could manage and create NFTs with the MLB. However, Quigley was able to add another giant feather to his cap as WAX recently completed the rare “hat trick” as the official NFT partner for the toy industry’s “big three” – Funko, Hasbro and Mattel. WAX was already a trusted partner for many, working with well-known intellectual property including “SAW”, “The Princess Bride”, “Blade Runner”, and already had multiple massively successful NFT drops for Topps (with more planned), Capcom, and others; but the business is now in rare company with this week’s upcoming launch of the Mattel Hot Wheels NFT Garage line which completes the trifecta WAX began with successful partnerships with Funko and Hasbro earlier this year. “As we innovate within the NFT space, WAX ...

The United States Securities and Exchange Commission (SEC) has introduced an action against Terraform Labs, the company behind the design of the Terra blockchain, and its co-founder and CEO Do Kwon. The SEC is seeking an order for Kwon to comply with a series of subpoenas he has failed to address. The investigative subpoenas seek Kwon’s testimony and the production of documents from Terraform Labs SEC Acts Against Terraform Labs and Do Kwon The United States Securities and Exchange Commission (SEC) has taken the next step in its battle against Terraform Labs, the company behind Terra, and its co-founder and CEO Do Kwon. According to a litigation release, the SEC has filed an order that seeks to compel the company to comply with a series of subpoenas the SEC delivered to Kwon, which he has failed to address. According to the document, these subpoenas include petitions for Kwon’s testimony and also the production of documents from Terraform Labs. These actions are part of an investi...