Bitcoin News and Finance: What You Need to Know

Socios.com, a company dedicated to the development of fan engagement tokens for sports organizations, has revealed that it will invest $100 million in the digital business of soccer team FC Barcelona, Barca Studios. The investment will give Socios.com 24.5% of the stake in the digital division of the club and will allow it to reshape the metaverse and Web3 strategies of the division to include more revenue streams. Socios.com to Invest in FC Barcelona Metaverse Division Sports clubs are now trying to diversify their revenue streams by getting into the metaverse, grabbing the attention of VC firms in the process. Socios.com, a company that designs fan engagement tools for sports clubs, announced it will invest $100 million into the metaverse, NFT, and Web3 division of the soccer club FC Barcelona, called Barca Studios. With the investment, Socios.com will receive a 24.5% stake in the mentioned company, as the club announced , and it will allow it to “accelerate the club’s audiovisu...

Singapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo. Vauld to Have 3 Months for Restructuring, Due Diligence by Nexo The Singapore High Court has granted the parent company of crypto lender Vauld, Defi Payments Ltd., a three-month protection from creditors, Bloomberg reported, noting this would allow Vauld to restructure and prepare for a potential acquisition by competitor Nexo, a major player in the crypto lending market. Justice Aedit Abdullah approved a moratorium until Nov. 7 during a court hearing on Monday. During said period, Vauld’s 147,000 creditors will be barred from taking legal action against it. It had asked for three more months but the judge expressed concerns that that a six-month protection would not ensure “adequate supervision and monitoring.” Nevertheless, the moratori...

The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The New York State Department of Financial Services (DFS) announced Tuesday that Robinhood Crypto LLC (RHC) will pay a $30 million penalty to New York State for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” The failures resulted in violations of the department’s Virtual Currency Regulation, Money Transmitter Regulation, Transaction Monitoring Regulation, and Cybersecurity Regulation, the DFS detailed. Superintendent of Financial Services Adrienne A. Harris commented: As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance — a failure that resulted in significant violat...

New York Attorney General Letitia James has urged investors in her state who believe they have been deceived by a crypto platform to contact her office. “Investors were promised large returns on cryptocurrencies, but instead lost their hard-earned money,” she stressed. Letitia James Issues Investor Alert on Cryptocurrency New York Attorney General Letitia James issued an investor alert on cryptocurrency Monday. “Many high-profile cryptocurrency businesses have frozen customer withdrawals, announced mass layoffs, or filed for bankruptcy, while investors have been left in financial ruin,” the alert states. James urged any New Yorker deceived or affected by cryptocurrency platforms to contact the Office of the Attorney General (OAG). In addition, she encouraged anyone in the cryptocurrency industry “who may have witnessed misconduct or fraud to file a whistleblower complaint with her office,” adding that it can be done anonymously. “The recent turbulence and significant losses in the...

Binance’s U.S. platform is delisting crypto token amp after the Securities and Exchange Commission (SEC) declared it a security. Another crypto exchange, Coinbase, disagreed with the regulator, arguing that the token is not a security. Binance Delists AMP ‘out of an Abundance of Caution’ Binance’s U.S. exchange (Binance US) is taking action to ensure that crypto tokens the U.S. Securities and Exchange Commission (SEC) has declared to be securities are not listed on its platform. The SEC recently said in a lawsuit against a former Coinbase product manager that nine crypto tokens are securities . They are AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM. Binance US explained: In its suit, the SEC named nine digital assets that it alleges are securities. Of those nine tokens, only amp (AMP) is listed on the Binance.US platform. “Out of an abundance of caution, we have decided to delist the AMP token from Binance.US, effective August 15, 2022,” the crypto exchange announced Monday...

According to Chandler Guo, an influential Chinese bitcoin miner, a proof-of-work (PoW) version of Ethereum is “coming soon.” The news comes as The Merge is expected to be implemented on Ethereum during the week of September 19, and the growing discussions of delaying the highly anticipated proof-of-stake (PoS) transition. Chinese Miner Chandler Guo Says ‘Ethereum PoW’ Is Coming Soon Chandler Guo has stated that an Ethereum proof-of-work (PoW) version will be “coming soon” ahead of The Merge that’s been penciled-in for the week of September 19. Guo is a known Chinese cryptocurrency miner and last week he wrote that he had forked once, and “will fork it again.” However, Guo’s statement is contradictory to how it officially played out in the summer of 2016, when the Ethereum Classic ( ETC ) chain was introduced to the world. I am Chandler Guo, a 51% attack on Ethereum Classic ( ETC ) is coming with my 98G hashrate https://t.co/9VM6vPa8CS — Chandler Guo (@ChandlerGuo) July 24, 2...

The French cryptocurrency hardware wallet manufacturer Ledger is seeking to raise fresh new capital after raising $380 million in June 2021, according to sources familiar with the matter. The hardware wallet company Ledger is reportedly looking to raise at least $100 million from strategic investors. Crypto Hardware Wallet Manufacturer Ledger Is Reportedly Looking to Raise $100 Million in Funding According to Bloomberg, the French crypto hardware wallet manufacturer Ledger is seeking more funds after the firm’s Series C last June. At the time, Ledger raised $380 million in a finance round led by 10T Holdings, and it gave Ledger a post valuation of around $1.5 billion. Founded in 2015 by Éric Larchevêque and Thomas France, Ledger has propelled itself as one of the top crypto hardware wallet manufacturers worldwide. Ledger competes with other popular digital currency hardware wallet makers like Trezor, Ellipal, Coolwallet, Safepal, and Coinkite. The report published on July 30 say...