Bitcoin News and Finance: What You Need to Know

Popular messaging platform Telegram has announced it is launching a new premium tier of its services as it seeks to monetize a part of its userbase. Reaching more than 700 million active users monthly, the new tier answers to the need of these users for more bandwidth and storage capacity, according to Pavel Durov, CEO of the company. Telegram’s New Premium Tier to Expand User Functionality Telegram, one of the most popular messaging apps in cryptocurrency circles, has announced it will introduce a paid premium tier of its services that will allow its users to access new features and expand upon some that are already available. The move comes as the company seeks to monetize a good part of its userbase, which recently reached a milestone of 700 million monthly active users. The premium tier is an answer to the requirements of a set of users that wanted to upgrade their bandwidth and storage from within the app, according to CEO Pavel Durov. He stated: After giving it some though...

For a few years now, the pseudonymous creator of the popular stock-to-flow (S2F) bitcoin price model, Plan B, has become a very well known bitcoin influencer gathering 1.8 million Twitter followers. However, after the S2F price model didn’t come to fruition and dropped well below the price targets in 2022, Plan B and his price model have been criticized a great deal. On Tuesday, Ethereum’s co-founder Vitalik Buterin denounced the S2F price model and said “financial models that give people a false sense of certainty” can be “harmful,” and they deserve to be mocked. Plan B’s Stock-to-Flow Bitcoin Price Model Is Not as Popular as It Once Was A few specific price models have been mocked this week as people have noticed that bitcoin’s price has not followed the “Rainbow” price indicator and Plan B’s famous stock-to-flow price model . The pseudonymous creator of the S2F model caught the attention of the crypto community years ago on March 22, 2019, when he published an editorial called ...

Goldman Sachs’ economists now see an increased risk of a U.S. recession. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply,” they explained. Goldman Sachs on Increased Risk of Recession Goldman Sachs’ economists, led by chief economist Jan Hatzius, explained in a note Monday that the global investment bank has cut its growth forecasts for the U.S. economy, warning that the risk of a recession is rising, Bloomberg reported. The Goldman Sachs economists wrote: We now see recession risk as higher and more front-load. “The main reasons are that our baseline growth path is now lower,” they added. “We are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply.” Last week, the Fede...

Tesla and Spacex CEO Elon Musk has shared his views on a variety of topics, including crypto investing, why he supports the meme cryptocurrency dogecoin, “unresolved matters” in his Twitter takeover bid, and the likelihood of a near-term U.S. recession. Elon Musk on Crypto Investing Tesla CEO Elon Musk shared his thoughts on a wide range of topics in an interview with Bloomberg News’ John Micklethwait at the Qatar Economic Forum Tuesday. Crypto investing was among the topics discussed. Musk was asked whether he thinks people should still invest in cryptocurrency given the market downtown. The Tesla CEO clarified that he has never recommended that people buy cryptocurrency, stating: I have never said that people should invest in crypto. In the case of Tesla, Spacex, myself, we all did buy some bitcoin, but it’s a small percentage of our total cash assets. The Spacex chief previously revealed that he also owns ether ( ETH ) and dogecoin (DOGE) while Tesla and Spacex only own bit...

The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchanges and custody providers must be listed to operate, according to Spanish law. Three new companies were included last week, but big names in the crypto ecosystem are still not registered. Bank of Spain Crypto Registry Reaches 17 Companies The registry of virtual asset service providers (VASPs) of the Bank of Spain reached a number of 17 companies last week, with the inclusion of three more crypto businesses. The registry added several exchanges and custody companies June, including Jobchain España, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda, and Vottun. The registry of these companies has accelerated in June, with most of the cryptocurrency exchanges registering being local companies that want to be sure they are compliant with Spanish laws. Since the bank opened its registry last year, it has added several crypto c...

A study released earlier this month has found that working in the metaverse with the tools available today might decrease the productivity of employees, and also increase their frustration and anxiety related to remote work. 11% of the participants in the study felt so much discomfort that they could not complete even a day in the study, leaving their tasks incomplete. Metaverse Needs Upgrades to Support Remote Work Companies and individuals are betting that the metaverse, an alternate digital representation of our world, will have an important role in the future of work, allowing people to complete tasks remotely. However, a recent study made by researchers of Coburg University, the University of Cambridge, the University of Primorska, and Microsoft Research, paints a different picture of the issue. The report , titled “Quantifying the Effects of Working in VR for One Week,” compared the performance of 16 different workers developing their tasks in a normal environment and in a co...