Bitcoin News and Finance: What You Need to Know

On May 5, 2022, at block height 735,000, the bitcoin mining pool Poolin mined the 105,000th block reward since the last halving. The mined block also represents the halfway point to the next halving that is estimated to take place on or around April 27, 2024. Block 735,000 follows the network issuing over 19 million bitcoin and the hashrate reaching an all-time high three days ago on May 2. Block 735,000: Halfway to the Next Halving The Bitcoin network is getting closer to the next halving which is estimated to happen on or around April 27, 2024 , or 723 days from now. At block height 735,000, the 105,000th block was mined and there’s now 105,000 left to go until the next halving. At the time of writing, data shows that there’s 104,928 block subsidy rewards left to mine. Presently, bitcoin miners get 6.25 BTC for a block reward and the fees associated with the confirmed transactions. Poolin earned the 6.25 BTC and 0.16215354 BTC worth of network fees associated with the block re...

California Governor Gavin Newsom has signed an executive order on crypto and blockchain to create a comprehensive and harmonized framework for Web3 technology to thrive. “California is a global hub of innovation, and we’re setting up the state for success with this emerging technology,” said the governor. California’s Governor Issues Executive Order on Blockchain and Crypto The governor of the U.S. state of California, Gavin Newsom, signed an executive order Wednesday to “create a transparent and consistent business environment for companies operating in blockchain, including crypto assets and related financial technologies,” according to a notice published by the office of the governor. The notice states: California becomes the first state in the nation to begin creating a comprehensive and harmonized framework for responsible web3 technology to thrive. Under Governor Newsom’s executive order, the state will also “assess how to deploy blockchain technology for state and publi...

Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform alongside Musk. Crypto-Friendly Companies Join Elon Musk to Buy Twitter Tesla CEO Elon Musk has secured funding from 18 companies to purchase Twitter Inc., his filing with the U.S. Securities and Exchange Commission (SEC) on Thursday shows. The SEC filing explains that Musk received equity commitment letters from these investors on May 4 “providing for an aggregate of approximately $7.139 billion in new financing commitments” in connection with his proposed acquisition of Twitter. Some pro-crypto companies are on the list of investors, including Sequoia Capital Fund which committed $800 million, crypto exchange Binance which committed $500 million, AH Capital Management (aka Andreessen Horowitz, a16z) whi...

High-end fashion house Gucci will begin accepting cryptocurrencies at some of its stores this month, including bitcoin, ether, dogecoin, and shiba inu. The company plans for all of its directly operated stores in North America to accept crypto by this summer. Gucci to Start Accepting Crypto Payments Italian high-end luxury fashion house Gucci will start accepting cryptocurrency payments in five stores later this month, Vogue Business reported Wednesday. The five stores are located in New York City (Wooster Street), Los Angeles (Rodeo Drive), Miami (Design District), Atlanta (Phipps Plaza), and Las Vegas (The Shops at Crystals). Gucci will accept bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, dogecoin, shiba inu, and five stablecoins pegged to the U.S. dollar, the publication conveyed. These coins are the ones supported by popular crypto payment service provider Bitpay, which also supports GUSD, USDC, USDP, DAI, and BUSD stablecoins. Marco Bizzarri, the president and...

The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters in The Sandbox virtual world. By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders. World’s ‘Virtual Assets Capital’ Dubai’s digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters (HQ) in the virtual world of The Sandbox, a statement from the regulator has said. The regulator said its objective for setting up the metaverse HQ is to ensure VARA “is accessible to its industry in their environment.” VARA is also expected to help facilitate engagement between virtual asset service providers (VASPs), industry influencers, and global regulators. According to the statement, by making this move, the Dubai regulator is signaling a willingness to make the Emirate “the world’s Virtual Assets Capital.” Maintaining Dubai’s Lead In remarks fo...

Brubank, one of the first Argentinian digital banks approved by the central bank of the country, is getting into the cryptocurrency business. The company announced it is now allowing customers to make cryptocurrency investments via its platform, giving them the ability to purchase crypto assets in its app. This is reportedly the second financial institution that is providing these services in the country. Brubank Introduces Cryptocurrency Services Private Banks in Argentina are starting to see the value of offering cryptocurrency services to their customers amidst a crypto boom in the country. Brubank, an all-digital financial institution licensed by the country’s central bank, has reported it is now offering cryptocurrency purchase services in its app. The bank announced this new functionality on social media when answering an inquiry from a customer about the new options on the platform. Brubank stated : Yes, we already have crypto! It is a functionality that is being progress...