Bitcoin News and Finance: What You Need to Know

About 14% of Saudi residents are either current crypto investors or have traded crypto in the past six months, the latest Kucoin study has found. The study has also found that 76% of investors have less than one year of experience and thus may be in need of relevant crypto education. Crypto Winter Effect Around three million Saudi Arabians, or about 14% of the adult population aged 18 to 60, are either crypto investors or have traded crypto over the last six months, the latest study conducted by the cryptocurrency exchange Kucoin has shown. The study findings also suggested that a further 17% of the country’s adults are said to be “crypto-curious and are likely to invest in cryptocurrencies over the coming six months.” According to the crypto exchange’s Into The Cryptoverse report , the study also looked at how Saudi residents’ sentiment toward crypto trading has shifted since the onset of the ongoing crypto winter. “In the first quarter of 2022, 49% of crypto investors intended ...

Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.” Swiss Post Office’s Banking Arm to Enter Crypto Market The banking and financial services arm of Swiss Post, the state-owned enterprise responsible for Switzerland’s postal and other essential public infrastructure services, is reportedly planning to offer its customers direct access to cryptocurrencies. The Swiss parliament established Postfinance’s predecessor in 1906 to provide payment services to retail customers. Postfinance operated as a division of Swiss Post until June 2013, when it became a bank under Swiss law. It is currently regulated by the Swiss Financial Market Supervisory Authority (FINMA). The bank already offers crypto exposure to its customers through the Yuh app , which it co-developed with banking group Swissquote. “Yuh combines paying, saving, and investing in one package,...

European Securities and Markets Authority (ESMA) Chair Verena Ross says that the crypto market crash should be a “cautionary lesson” for investors. She noted that there is a “real question” about whether many crypto assets will survive. ESMA Chair on Crypto Risks and Regulation Verena Ross, chair of the European Securities and Markets Authority (ESMA), has cautioned investors about cryptocurrency investing after the crypto market lost 70% of its value, the Financial Times reported Sunday. Emphasizing that there was no prospect of a European bailout for out-of-pocket crypto investors, she said: We already warned earlier this year . . . about the serious risks retail investors were taking investing in some of the crypto assets. ESMA will be responsible for licensing crypto asset service providers as recently agreed in Brussels as part of the provisional agreement on the Markets in Crypto-Assets (MiCA) proposal. The deal will enter into force from mid-2023 and has an 18-month im...

PRESS RELEASE. Adshares (ADS) is putting another stake in Metaverse’s advertising territory through a partnership with Sandbox (SAND) . The long-awaited partnership by the Adshares community has finally come to a head. The official partnership will bring the two projects closer, in order to jointly devise a clear and transparent path for the development of Adshares in the Sandbox space. Already, at this early stage of development, Sandbox is attracting the attention of the world’s largest corporations by building its brand in the metaverse and crypto space. The partnership can help automate the process of establishing relationships with companies inside the world presented by Sandbox. As mentioned earlier, this is the first step of a collaboration that, over time and agreements, will bring many benefits to companies, players and both ecosystems. Adshares intends to build its interactive headquarters in the Sandbox world, thus providing a gamified experience for its community and m...

According to the latest crypto prediction report published by the product comparison platform finder.com, 77% of 53 fintech specialists polled in the report say cryptocurrency markets are officially in a “crypto winter.” The poll further explains that only 29% of the report’s participants believe the bear market will end in 2022. While bitcoin is expected to surpass $100K per coin by 2025, Finder’s experts think bitcoin will bottom out at $13,676 per unit, but also end 2022 at $25,473 per unit. Finder’s 53 Fintech Specialists Attempt to Guess Bitcoin’s Future Value Finder.com published a new forecast that says bitcoin ( BTC ) will drop to $13,676 per unit this year, according to 53 surveyed fintech specialists. While the report notes that the experts think the bottom will be around $13,676 per BTC , they also expect the leading crypto asset to end the year at $25,473 per coin. The panelists’ prediction is very much aligned with the 80% drop theory as BTC has lost more than 80% fr...

As crypto matures and continues along its path of inevitable adoption, so too does the importance placed on adequately accounting for crypto as an asset class and a source of income. Cryptocurrencies at their core were not designed to fit into traditional financial systems, after all, that’s where some of their primary benefits over fiat and banking systems are found. For crypto natives, trying to fit the square peg of crypto into the round hole of traditional finance is done begrudgingly, often come tax time – or in the case of businesses with crypto, monthly to close books. In the US and other regulated economies, these actions are necessary evils to maintain crypto – but accounting for crypto neither has to be hard nor detrimental to the overall crypto ecosystem. But let’s back up for a moment. A Paradoxical Equation As companies and funds continue to make the push for a Bitcoin spot ETF and other financial products involving cryptocurrency functioning in the more traditional...

South Africa’s famed Zuid-Afrikaansche Republiek (ZAR) coins or the Krugerrands collection are set to be tokenized and will be available to potential buyers from a price as low as $200. Tokenized coins will be minted by Web3 tech firm Momint and will be available on the firm’s non-fungible token (NFT) marketplace. Fractionalized Krugerrand Coins The South African Web3 tech firm Momint, in conjunction with two gold coin dealers, the Scion Shop and the South African Gold Coin Exchange, is set to tokenize the old Zuid-Afrikaansche Republiek (ZAR) coins. The availability of tokenized ZAR coins makes it possible even for the less wealthy enthusiasts to own portions of South Africa’s famed coins. As explained in a report published by IT News Africa, possession of the non-fungible tokens (NFT) of ZAR coins means holders are also part owners of the actual coins. The complete set of coins being tokenized includes those minted before the South African War of 1899. To ensure the tokenized c...

Electronics giant Samsung has announced the launch of Space Tycoon, a metaverse-based experience built as part of the Roblox world. The gaming metaverse, which is directed to entertain Gen Z users, will feature a world in which Samsung products can be constructed by picking their fundamental components. The experience will also include a shop for buying in-game items. Samsung’s New Metaverse in Space Big companies are now focusing part of their efforts on creating enticing metaverse-based worlds as part of their strategy. Samsung, the electronics company, is launching a metaverse world constructed as a part of the Roblox universe. The experience, called Space Tycoon, will allow users to participate as part of a space station getting resources to design and produce Samsung products. The virtual world will also offer the opportunity to purchase items for the players’ avatars from a shop. This experience is directed toward a younger audience, which will have the opportunity to learn ...