Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. On February 17th, 2022, Hoo announced the completion of the first-stage token-repurchase plan on HOO Token with a cumulative total of 423,982.18 HOO repurchased from the secondary market. From January 2022, Hoo had imposed the strategic plan on generating 30% of the income revenue from spot trading (Spot Zone + Innovation Zone) of Hoo Exchange for enhancing the liquidity of the AMM pool. 15% of the income revenue would be used to repurchase HOO from the secondary market, and all the repurchased HOO would be placed into AMM liquidity pool. The remaining 15% income revenue would also be transferred to the AMM liquidity pool for optimizing the depth and activation of the secondary market continuously. According to the announcement, Hoo’s accumulated spot transaction income is 3,385,520 USDT in January 2022. Thus, 1,015,656 USDT will be imposed into token-repurchase agreement, and half of which will be used to repurchase HOO from the secondary market and the remaining...

Following the U.S. Securities and Exchange Commission (SEC) charging the crypto lending platform Blockfi with failing to register its retail crypto lending product and fining the firm $100 million, the crypto lender Nexo has announced it will no longer allow U.S. citizens to earn interest on new savings wallet top-ups. However, Nexo customers from the U.S. will continue to earn interest on their current savings wallet balances held prior to the announcement. Nexo ‘Reveals Big Savings News for US Customers’ Last week, the SEC cracked down on the crypto lending platform Blockfi and the company was fined $100 million in penalties. The news followed several regulators from a myriad of states like New Jersey , Kentucky , Texas, Alabama , and Vermont giving warnings to Blockfi about the firm’s interest-bearing accounts. Some states issued cease and desist orders and the company had to stop offering Blockfi Interest Accounts (BIAs) by a certain date. After Blockfi’s penalties were hand...

Global Investment bank JPMorgan says, “The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues.” The firm has set up a lounge in Decentraland. JPMorgan on the Metaverse Global Investment bank JPMorgan recently published a report titled “Opportunities in the metaverse.” The report is authored by Christine Moy and Adit Gadgil. Moy is the global head of Liink, Crypto & the Metaverse at Onyx by J.P. Morgan. Gadgil is the head of e-commerce solutions at J.P. Morgan Payments. The JPMorgan report details: The metaverse will likely infiltrate every sector in some way in the coming years, with the market opportunity estimated at over $1 trillion in yearly revenues. The report cites research by Grayscale Investments which states: “The metaverse is estimated to be a trillion-dollar revenue opportunity across advertising, social commerce, digital events, hardware, and developer/creat...

The third-richest billionaire in Mexico, Ricardo Salinas Pliego, advises to buy bitcoin, keep buying while the price is still low, and hold the crypto without thinking of selling. “Trust me, you’re going to thank me later,” he affirmed. Billionaire Ricardo Salinas Pliego’s Bitcoin Advice Mexico’s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Saturday about investing in bitcoin. Salinas is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes’ list of billionaires, his net worth is currently more than $13 billion. The billionaire tweeted Saturday urging his Twitter followers to buy bitcoin and keep buying while the price of BTC is still low. His tweet reads: You have to buy bitcoin (keep buying when the price is low), then just hold your BTC , forget about selling … Trust me you’re going to thank me later. Bitcoin has fallen more than 40% sinc...

U.S. President Joe Biden is reportedly expected to issue an executive order on cryptocurrency this week. It will direct a wide range of government agencies to come up with a government-wide strategy to regulate crypto assets. Executive Order on Crypto Expected This Week U.S. President Joe Biden is expected to issue an executive order on cryptocurrency this week, an administration official familiar with the matter reportedly told Yahoo Finance. The news of the Biden administration preparing an executive order on crypto was first reported in January. The executive order will direct a wide range of government agencies to study cryptocurrency and central bank digital currency (CBDC), and come up with a government-wide strategy to regulate crypto assets, the publication conveyed. Various government agencies will be asked to produce a report on the future of money and payment systems, including the Departments of the Treasury, State, Justice, and Homeland Security. The Financial Stabi...

A new report issued by LAVCA, the Association for Private Capital Investment in Latin America, has found that the venture capital (VC) investment in the region has grown immensely compared to the previous year’s numbers. In general, the region registered investments of more than $15 billion, more than three times the amount registered in 2020. However, crypto and blockchain investments grew almost tenfold. Crypto Outpaces Conventional VC Investments in Latam A new report issued by LAVCA, the Association for Private Capital Investment in Latin America, details the growth of the venture capital (VC) movement in the region and highlights the interest that these companies took in crypto in 2021. The report found that the region experienced notable growth when it comes to venture capital investments, more than tripling the numbers registered the previous year. In 2020, LAVCA registered $4.14 billion in VC investments, in the midst of the coronavirus pandemic. Last year, this influx reac...

Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital currency addresses and take it even further, by asking centralized entities like crypto exchanges and payment processors to freeze the funds. Canadian Officials Can Flag Crypto Addresses and Threaten Exchanges, but They Can’t ‘Freeze Bitcoin’ Last week, the Canadian government and Prime Minister Justin Trudeau invoked the country’s Emergencies Act and enacted Canada’s terrorist financing policy in order to blanket cryptocurrencies donations. Trudeau and the government did this to quell the protesters occupying the streets of Ottawa. The Canadian government managed to get Gofundme to shut down the Fr...