Bitcoin News and Finance: What You Need to Know

Kraken is planning to hand out more than $10 million in aid for clients affected by the military conflict in Ukraine. The amount covers the fees paid by Ukrainian residents in almost a decade and will also include those withheld from Russian traders in the first half of 2022. Kraken Exchange to Give $1,000 in Bitcoin to Each Eligible Ukrainian Customer U.S.-based crypto exchange Kraken is preparing to distribute $10 million to Ukrainian customers suffering from the Russian invasion. Between March 10 and July 1, clients who created an account from Ukraine prior to March 9, 2022, at “Intermediate” or “Pro” level verification, will be eligible to receive $1,000 in bitcoin ( BTC ), the platform announced in a blog post and on social media. Kraken will distribute over $10 million worth of to aid clients in 🇺🇦Ukraine. Tranche 1 recipients will be credited $1000 of #BTC , withdrawable tomorrow. The package is funded by historical Ukraine revenues and H1 2022 revenues from Russia-based ...

PRESS RELEASE. Reef, a layer 1 Substrate based blockchain for DeFi, NFTs, and gaming, announced today it’s launching a new NFT division focused on connecting with graffiti and electronic artists while scaling up it’s blockchain to be more NFT-friendly. In the last two months, Reef has been working behind the scenes to kickstart its contribution to the NFT landscape. They’ve hired Philip Galaviz, an influential figure in the Denver music and art scene, to join the team as Head of NFT. Philip has worked with Digitally Imported Radio, Global Dance, and numerous electronic music artists, and is building a cultural arts and music program via IRL collaborations. As Head of NFT, Philip will spearhead Reef’s business development and expand its offerings to a wide range of artists, beginning with electronic and graffiti artists, and album cover designers. Philip and the Reef team pushed the first stage of their NFT wave at ETHDenver with a packed beginners workshop, metawall, NFT contest, a...

Following the record 7.5% high for January, the U.S. Labor Department’s Consumer Price Index (CPI) data shows February’s CPI metrics rose to 7.9%. The CPI data published on Thursday is a new 40-year high and month over month, inflation jumped by 0.8%. President Joe Biden is blaming the inflation spike on Russia’s invasion, as he previously warned “there will be costs at home.” February’s CPI Data Jumps to 7.9%, US Stocks Suffer In the U.S., there’s been a significant increase in the prices of goods and services in the American economy every single month. American citizens continue to see a decrease in purchasing power when leveraging U.S. dollars for a number of goods and services. The Consumer Price Index (CPI) is a government-crafted metric that records a market basket of consumer goods and services Americans purchase on a regular basis. The data is published on a monthly basis by the U.S. Labor Department, an entity that is responsible for governing occupational safety and publis...

Dubai has adopted its first law to regulate the crypto sector. It has also established a dedicated regulator to oversee crypto activities and related service providers. Crypto Sector Regulated in Dubai The emirate of Dubai has adopted its first law to regulate crypto assets and established a regulator to oversee crypto activities and regulate crypto service providers. The official Twitter account for Sheikh Mohammed bin Rashid Al Maktoum announced Wednesday that the first virtual assets law has been approved in Dubai and the Dubai Virtual Assets Regulatory Authority (VARA) has been established. Sheikh Mohammed commented: The goal [is to] establish the UAE and Dubai’s position as a key player in designing the future of virtual assets globally. The ruler of Dubai, Sheikh Mohammed, is also the vice president and prime minister of the United Arab Emirates (UAE), a federation of seven emirates. He previously held the positions of head of Dubai Police and Public security, as well a...

A Cornell University economics professor says that President Joe Biden’s executive order on the regulation of cryptocurrency could benefit the industry. “Ultimately what these sorts of regulations provide to the industry is legitimacy,” said the professor. Cornell Professor on Crypto Industry Benefiting From Biden’s Executive Order Eswar Prasad, professor of economics at Cornell University, shared his thoughts on U.S. President Joe Biden’s crypto executive order and what it means for the industry in an interview with CNBC, published Thursday. Prasad is the Nandlal P. Tolani senior professor of trade policy and professor of economics at the Charles H. Dyson School of Applied Economics and Management at Cornell University. He previously served as chief of the financial studies division in the International Monetary Fund (IMF)’s research department and head of the IMF’s China division. The Cornell professor has repeatedly warned about the risks cryptocurrency poses to monetary and ...

Z Holdings, the internet subsidiary of the Japanese conglomerate holding company Softbank, is planning to launch a global non-fungible token (NFT) marketplace this spring. Z Holdings’ “NFT Mall” aims to target 180 countries and leverage the firm’s Paypay service in order to attract Web3, metaverse, and NFT patrons. Z Holdings Doesn’t Want to ‘Miss out on Huge Growth Opportunity’ Softbank’s internet firm Z Holdings plans to launch an NFT marketplace called “NFT Mall,” according to a Bloomberg interview with the company’s co-CEO Kentaro Kawabe. The firm’s parent company merged Line and Yahoo Japan into Z Holdings last year. Kawabe’s statements from the interview indicate that Z Holdings plans to leverage Web3, metaverse, and NFT in order to bolster the company’s growth. “It’s possible Web3 will herald a world where life is completely different and we don’t want the company to miss out on the huge growth opportunity,” Kawabe, the co-chief executive officer of Z Holdings stated duri...

The regulatory arm of the United Arab Emirates (UAE)’s special economic zone, the Dubai International Financial Centre (DIFC), has unveiled a consultation paper outlining its proposed regulatory regime for crypto tokens. Changes to the Draft Legislation The Dubai Financial Services Authority (DFSA), the financial regulatory agency of UAE’s special economic zone, the Dubai International Financial Centre (DIFC), has released a consultation paper proposing a regulatory regime for crypto tokens. The DFSA said the public has until May 6, 2022, to comment on the regulatory agency’s proposal “for a regulatory regime for persons wishing to provide financial services activities in respect of crypto tokens.” Once the public consultation phase is over, DFSA will then make the changes to the draft legislation as it sees fit. The paper explains: Following the public consultation, we will decide which changes to the proposed regime are necessary and amend the proposed draft legislation as app...