Bitcoin News and Finance: What You Need to Know

A16z has launched a new fund that seeks to invest $600 million in gaming experiences including Web3 and metaverse. The fund, which seeks to build the future of the gaming industry, aims to back several startups and projects in different areas including gaming studios, the intersection of gaming and consumers, and infrastructure. This move complements the investments that the VC has made in other gaming and metaverse-involved startups. A16z Doubles Down on Gaming Executives at a16z seem to be enticed by the intersection of metaverse, Web3, and gaming happening now in the industry. The company has announced the launch of a $600 million gaming fund called Games Fund One, which seeks to power startups in the industry in three key sectors, including gaming studios, gaming relationships, and infrastructure building. The fund, according to the company, bases its operation on the belief that “games will play a pivotal role in defining how we socialize, play, and work over the next century...

Meta Platforms Inc., formerly Facebook, has filed five trademark applications for “Meta Pay.” The filings cover a wide range of cryptocurrency services. The company is renaming Facebook Pay to Meta Pay. Trademark Applications for Meta Pay Meta Platforms Inc., formerly Facebook, filed five trademark applications for “Meta Pay” with the United States Patent and Trademark Office (USPTO) last week. Trademark attorney Josh Gerben tweeted explaining Wednesday that, in his opinion, Meta’s applications indicate the company is planning to launch a payment platform called Meta Pay for users to exchange regular fiat money for cryptocurrencies. Meta’s head of fintech, Stephane Kasriel, explained last week that the company is “investing more” in its existing payments experiences, noting that it has been in payments since 2009. “Today, people and businesses use our platforms to make payments in 160 countries and 55 currencies,” Kasriel wrote, elaborating: The experience that people see toda...

The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST. G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20. Among the topics they discussed was the regulation of crypto assets following the recent market turmoil and the collapse of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST). “The G7 supports work by the Financial Stability Board (FSB) to monitor and address financial stability risks arising from all forms of crypto-assets, and welcomes increasing global cooperation to address regulatory issues associated with the use of crypto-assets, including in cross-border payments,” according to the communiqu...

The CEO of one of Kenya’s biggest lenders has argued there is a possibility cryptocurrencies will complement mobile money in Africa but first, there is a need to convince regulators of their benefits. African Regulators’ Stance on Crypto Cryptocurrencies can potentially complement mobile money in Africa if regulators on the continent are made to change their perceptions of the digital currencies, the boss of one of Kenya’s biggest lenders has said. According to James Mwangi, CEO of Equity Group Holdings Plc, central banks first need to be convinced of the benefits of cryptocurrencies. In remarks published by Bloomberg, Mwangi noted that most of the continent’s central banks have either banned the use of cryptocurrency like bitcoin or have imposed restrictions on its use. He noted, however, that a few countries have or are exploring ways to embrace cryptocurrencies. According to Mwangi, adopting cryptocurrencies is also one way Africa can get ahead of other continents as far as em...