Bitcoin News and Finance: What You Need to Know

Bitso, the Mexico-based cryptocurrency exchange, has announced a new partnership with Addem Capital, a debt fund that provides startups and other companies with financing options. The cryptocurrency exchange will process payments for the fund and provide conversion functions, allowing it to accept cryptocurrency as part of its payment options. Bitso Partners Addem Capital to Allow Latam Users to Invest With Crypto Cryptocurrencies are starting to be included more and more in traditional financial structures in the world and also in Latam. Bitso, a Latam-based exchange, announced a partnership with Addem Capital, a Mexican debt fund that allows startups to get access to financing structures. On the importance of these decentralized finance methods, Pedro Cetina, co-founder and managing partner of Addem Capital, stated: Cryptocurrencies and DeFi protocols have the potential to become a driver for financial inclusion in Latin America. Our model intrinsically has some operational com...

Citigroup CEO Jane Fraser warns that a recession is more likely in Europe than in the U.S. Nonetheless, she stressed that it is not easy for the U.S. to avoid a recession. Citigroup’s CEO on Global Recession Citigroup CEO Jane Fraser warned about the health of the global economy Friday, Reuters reported. Citi is the third-largest and most globally-focused U.S. bank. Speaking at an investor conference in New York, she talked about how “the three Rs” are affecting the global economy, stating: “It’s rates, it’s Russia, and it’s recession.” Fraser explained that Europe’s energy problems are “really having an impact on a number of companies in certain industries that are not even competitive right now.” She added that “some of them are shutting down operations … because of the cost of electricity and the cost of energy.” The Citi executive opined: Europe definitely felt more likely to be heading into a recession than you see in the U.S. Major central banks are already planning inte...

The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.” U.S. Labor Department Sued Over Crypto Guidance The U.S. Department of Labor (DOL) and Secretary of Labor Martin J. Walsh have been sued over the department’s Compliance Assistance Release No. 2022-01. The guidance, titled “401(k) Plan Investments in ‘Cryptocurrencies,'” was issued on March 10. The lawsuit alleges that the Labor Department breached its statutory purview by threatening “an investigative program” aimed at plan sponsors that offer digital assets. According to the court document: This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts. The plaintiff is Forusall Inc., which provides administrative and other services to retirement plans. The company claims t...

Tesla and Spacex CEO Elon Musk believes that Twitter is in material breach of the merger agreement with him, so he has the right to terminate the deal. The social media giant has refused to provide critical information relating to spam and fake accounts on its platform, Musk’s legal team explained. Elon Musk Could Terminate His $44 Billion Twitter Buyout Offer In a letter sent to Twitter Inc. Monday, which was also filed with the U.S. Securities and Exchange Commission (SEC), Elon Musk’s legal team wrote: Twitter has … refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022 to facilitate his evaluation of spam and fake accounts on the company’s platform. “Mr. Musk has made it clear that he does not believe the company’s lax testing methodologies are adequate so he must conduct his own analysis,” Musk’s lawyer added. The letter notes that Twitter is required to provide the data Musk asked for under the merger agreement. Musk’s legal team furt...

On June 6, the Web3 entertainment company Gala Games announced that the Wild West-focused battle royale blockchain game Grit will soon be available via the Epic Games Store and accessible to 194 million users. The well known company Epic Games is the producer of the Unreal Engine and the popular online video games Fortnite and Gears of War. Blockchain-Powered Grit Gets Added to the Epic Games Store — Gala Games Exec Says Epic Listing Brings Legitimacy to This New Genre of Gaming The Epic Games Store currently hosts a blockchain video game called Grit , a Wild West-based battle royale game built using the Unreal Engine. Grit players face a gang of gunslingers “in epic showdowns and shootouts” and the game features over 400 types of old-school guns. The game crafted by the Web3 entertainment firm Gala Games is listed on the Epic Games Store but the description notes that Grit is “coming soon.” Gala Games is also behind the Web3 first-person-shooter (FPS) Last Expedition , and the...

Gate.io is building on its success and evolving to become a remarkable crypto ecological landscape for its users, its ecosystem encompassing a vast variety of digital assets that collectively offer a feature rich experience to its users. With the 9th anniversary celebrations now kicked off, Gate.io is bringing even more innovative features to its users and updating its brand to continue to deliver quality and offer excellence. Read on to know more about Gate’s ecological map and what is in-store for users as part of its 9th anniversary! The Ecological Map of Gate.io One of the several secrets to Gate.io’s success is that it was one of the first to build a comprehensive solution for users on one platform – an ecosystem of digital assets. To date, Gate.io has grown and gone through a developmental curve, updating itself and gaining several achievements based on courageous innovation , being user-centric , and focused on global market improvement . Its wide range of product and serv...

The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtual assets service providers. The code of conduct, which was initiated by the office of the President of Nigeria, applies to all Nigerian VASPs. Making the Nigerian Blockchain Industry a Safe Space The Nigerian blockchain group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) has introduced what it called a code of conduct for virtual asset service providers (VASPs). The objective of the code is to help “transform Nigeria into the world’s safest and biggest blockchain space with the largest blockchain solutions, investments, and adoption.” According to a press statement released by the lobby group, when preparing the code SIBAN had considered the principles and codes that are usually applicable to VASPs such as the Cayman Islands’ Statement of Principles: Conduct...