Bitcoin News and Finance: What You Need to Know

Galaxy Digital Holdings and the company’s CEO and founder Mike Novogratz announced the company has “exercised its right to terminate” a previously announced acquisition of Bitgo. According to Galaxy the termination of the deal was due to Bitgo’s “failure to deliver” audited financial statements for 2021. Galaxy Ends Deal With the Crypto Custodian Bitgo On Monday, Galaxy Digital Holdings (TSX: GLXY ) explained that the company has terminated a proposed $1.2 billion stock and cash deal that would allow the crypto firm to acquire the digital asset custody business and financial services provider Bitgo . Galaxy’s announcement details that the abandoned deal was due to Bitgo’s “failure to deliver” specific financial documents. “[Galaxy] exercised its right to terminate its previously announced acquisition agreement with Bitgo following Bitgo’s failure to deliver, by July 31, 2022, audited financial statements for 2021 that comply with the requirements of our agreement,” the crypto com...

India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms. Indian Finance Minister Cautions About Crypto Indian Finance Minister Nirmala Sitharaman reportedly warned about cryptocurrency Saturday at an event organized by the BJP Economic Cell. She cautioned the public and entrepreneurs that cryptocurrency is not currency, stating : The government has already warned. I think all of us will have to share our thoughts and move with a bit of caution on this. On Thursday, News18 reported that the finance minister asked investors to exercise caution on crypto, emphasizing that a new law on cryptocurrency is coming soon. Her statements came as India’s Enforcement Directorate (ED) probes cryptocurrency exchanges in relation to its money-laundering investigations. The law enforcement agency has frozen the assets of at least two cryptocurre...

JPMorgan CEO Jamie Dimon has shared his predictions for the U.S. economy, including a chance of “something worse” than a recession. “There are storm clouds,” the executive said, citing interest rates, QT, oil, Ukraine, war, and China. JPMorgan Chief Jamie Dimon’s Economic Forecasts JPMorgan’s chairman and chief executive officer, Jamie Dimon, reportedly shared his predictions about where the U.S. economy is headed during a client call last week, Yahoo Finance reported Saturday. While noting that the U.S. economy is strong, with consumers’ balance sheets and businesses in good shape, the executive emphasized that “you have to think differently” when forecasting. The JPMorgan chief described: “What is out there? There are storm clouds. Rates, QT, oil, Ukraine, war, China.” Dimon shared: “If I had to put odds: soft landing 10%. Harder landing, mild recession, 20%, 30%.” He added: Harder recession, 20%, 30%. And maybe something worse at 20% to 30%. “It is a bad mistake to say ‘her...

After three years of dormancy, a massive ethereum whale that participated in the project’s first token sale, also known as the Genesis initial coin offering (ICO), spent 145,000 ether worth just over $276 million using today’s ethereum exchange rates. Mega Ethereum Whale Distributes 145,000 Ether to 9 Different Addresses On August 14, 2022, onchain data indicates that a whale who participated in the Ethereum Genesis ICO has moved 145,000 ETH to various addresses. The funds were worth $276 million using current ETH exchange rates. It was the first time the Genesis ICO participant spent coins since 2019, back when 5,000 ETH exited the whale’s wallet. At the time of writing, the address currently holds 0.‍1177 ETH worth $22,4 after it emptied the 145,000 ether. The transfers on Sunday were sent in multiple batches of 5,000 ETH , 10,000 ETH , and 20,000 ETH increments. The whale ended the transfers with a final 10,000 ETH transfer sent at 12:18 a.m. (UTC). The wallet owner also...

Do you have a talent for picking winners? Do you follow athletes’ careers and know who is gonna be successful? So why not benefit from that?! Upcoming NFT Platform OWNIC empowers sports fans to earn from the real world performance of the stars they pick using dynamic NFTs. It introduces a number of revolutionary concepts to the space of collectible sports cards that will create new ways for fans to earn from fantasy sports leagues and metaverse gaming. OWNIC has also already proven its credibility with exclusive partnerships with top global athletes in the fields of soccer and MMA. The NFT platform will launch on August 22, 2022 with the Pre-Sale for the collection of the captain of the Italian national football team and Juventus F.C., Leonardo Bonucci. Own a Piece of Your Favorite Player’s Success in an Officially Licensed Dynamic NFT Sports Platform OWNIC is an upcoming platform for NFT (non-fungible token) sports collectibles where an athlete’s performance is reflected on a card...

The city of Buenos Aires will deploy a number of Ethereum validator nodes in 2023. The statements were made by Diego Fernandez, secretary of Innovation and Digital Transformation of the city, who clarified this deployment will pursue exploratory and regulatory purposes and will help the city to develop regulations for cryptocurrencies. Buenos Aires to Deploy Ethereum Validator Nodes More and more cities are including cryptocurrency and blockchain projects as part of their development and growth plans. Buenos Aires will reportedly deploy validator nodes for the Ethereum chain in 2023. Diego Fernandez, secretary of Innovation and Digital Transformation of the city reported this at ETH Latam, an Ethereum-centric convention that is taking place in the city. Fernandez clarified the interest of the city in running these nodes had an exploratory purpose, and that they expected that running these nodes will allow them to have a deeper understanding of the Ethereum chain in order to regul...

Vaculug, a British company that brands itself as Europe’s largest independent tire retreader, will now accept cryptocurrencies for its products and services. Its management says the business must move with the times and offer customers more options than pounds and pence. Vaculug to Take Major Coins, Offer Contracts in Cryptocurrency U.K.-based tire retreading firm Vaculug has announced it will accept two leading cryptocurrencies, bitcoin (BTC) and ethereum (ETH) as a means of payment for tires and related services. The company claims it’s the first in the industry to do that. In a press release , Vaculug also revealed it intends to sign fixed price contracts in ‘crypto per kilometer’ and ‘crypto per vehicle’ formats, if customers would like to fix or link them to the prices of the two supported cryptocurrencies. Blockchain is not the future but the now, says Vaculug’s IT manager Jason Humphries. “We believe that all companies will have to accept cryptocurrencies in the near futu...