Bitcoin News and Finance: What You Need to Know

If extradited to the United States, crypto exchange BTC-e’s alleged operator Alexander Vinnik will become a “hostage” due to the ongoing conflict in Ukraine, according to his Greek lawyer. France is likely to send the Russian back to Greece soon and Zoe Konstantopoulou is trying to prevent his subsequent transfer to U.S. custody. Alexander Vinnik’s Greek Defense Fights His Extradition to US A French court is expected to approve next week the return of convicted money launderer Alexander Vinnik to Greece. Greek authorities arrested the Russian national in 2017 and handed him over to France, two years later, where he was charged with identity theft and extortion as well. He has now served his five-year sentence there, taking into account the time spent in detention prior to the trial. Vinnik was apprehended in Thessaloniki, where he arrived on vacation with his family, on a warrant from the U.S., where he is also accused of laundering at least $4 billion through the infamous BTC-e e...

Charles Schwab’s $655 billion asset management arm is launching its first crypto-related exchange-traded fund (ETF). The new fund is expected to start trading this week on the NYSE Arca exchange. Charles Schwab Launches Its First Crypto-Related ETF Schwab Asset Management, a subsidiary of The Charles Schwab Corp., announced last week the launch of the Schwab Crypto Thematic ETF (NYSE Arca: STCE), calling the new product “its first crypto-related ETF.” Charles Schwab is a major American brokerage, banking, and financial services company. Schwab Asset Management currently has over $655 billion in assets under management, according to its website. It is the third largest provider of index mutual funds and the fifth largest provider of exchange-traded funds (ETFs). The first day of trading for the Schwab Crypto Thematic ETF is expected to be on or about Aug. 4, the announcement details, adding: The fund is designed to track Schwab Asset Management’s new proprietary index, the Schwab...

Quik.com is offering minting of NFT domains, which will allow users to host their decentralized web pages and even change their digital wallet’s heavy addresses, while the evolving virtual universe, the decentralized web3, and its related technologies are still in the early stages of adaptation. Users will have the opportunity to obtain their lucky number as the race has just begun. Visit Quik.com’s NFT Domain Marketplace . Mint your first Metaverse Domain Name . Mint your first VR Domain Name . Mint your first Web3 Domain Name . Minting NFT domains is more than just a trend; it’s an innovative possibility that optimizes blockchain technology and enables users to construct decentralized websites with full control and ownership over the data and content. as opposed to conventional domains that are run, controlled, and even licensed by the ICANN regulatory body. It permits the user to buy a domain but does not transfer the actual ownership. Users are the actual owners of the d...

Regulators in the U.S. and U.K. have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.” US and UK Regulators Collaborate on Crypto Regulation The U.S. Department of the Treasury published a joint statement last week on the U.K.-U.S. Financial Regulatory Working Group. The group held a meeting on July 21. Participants included officials and senior staff from HM Treasury, the Bank of England, the Financial Conduct Authority, the U.S. Treasury Department, the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). The statement explains that the financial regulatory working group was formed in 2008 “to deepen bilateral regulatory cooperation...

On Sunday, the non-custodial market protocol Aave announced that the Aave DAO has approved a new stablecoin for the ecosystem called “GHO.” Aave Companies proposed the stablecoin during the first week of July and the collateral-backed stablecoin will be pegged to the U.S. dollar’s value. A New collateral-Backed Stablecoin Crafted by Aave Companies Is Due to Launch After the Aave DAO Votes on Genesis Parameters Aave explained on Sunday that the Aave decentralized autonomous organization (DAO) approved a proposal to create a stablecoin token called “GHO.” “The community has given the green light for GHO,” the official Aave Twitter account detailed . “The next step is voting on the genesis parameters of GHO, look out for a proposal next week on the governance forum.” The GHO introductory blog post , published on July 7, 2022, says the stablecoin will be “backed by a diversified set of crypto-assets chosen at the users’ discretion, while borrowers continue earning interest on their un...

A new report has claimed the Central African Republic, which became the first country in Africa to make bitcoin legal tender, recently requested the regional central bank’s assistance in developing a cryptocurrency regulatory framework. The report also said the CAR had expressed its “commitment to the single currency and respect for the statutes of the Bank of Central African States.” Developing a Crypto Regulatory Framework After initially clashing with the Central African Republic (CAR) over its decision to make bitcoin legal tender, the Bank of Central African States (BCAS) recently claimed it had received a request for assistance in developing the “regulatory framework governing crypto assets” from the government in Bangui. In a statement, the BCAS revealed the CAR had reiterated its commitment to the regional group’s statutes. By sending this request for assistance to BCAS, which serves six countries that make up the Economic and Monetary Community of Central Africa (EMCCA), t...

On July 27, the Filecoin Foundation for the Decentralized Web (FFDW) announced it will be supporting an initiative with Harvard University’s Library Innovation Lab (LIL) called the “Democratizing Open Knowledge” program. With FFDW’s support, LIL plans to explore decentralized technologies that can preserve digital information. Democratizing Open Knowledge While there’s a lot of information to consume in 2022, it’s hard to verify what is legitimate and there’s a significant amount of distrust toward mainstream media sources. In the U.S. for example, America’s trust and confidence levels in the media sunk to record lows in a recent Gallup poll published this month. Out of the American adults surveyed, only 16% said they had “quite a lot” of confidence in today’s news publications, and only 11% trusted news on television. Moreover, during the last few years, there’s also been a lot of disinformation and debates over technical definitions. For example, this past week, the term “recess...