Bitcoin News and Finance: What You Need to Know

A constitutional court in the Central African Republic has reportedly ruled that the Touadéra government’s offer of land and citizenship to buyers of the sango coin is unconstitutional. The court said the sango-coin-for-citizenship scheme must be stopped because the country’s “nationality has no market value.” Offering Land and Minerals to Sango Coin Investors Ruled Unconstitutional In a ruling likely to derail the Central African Republic (CAR)’s crypto ambitions, a constitutional court has ruled that the government’s plan to offer full citizenship to investors in its sango coin cryptocurrency is illegal. In addition, the court said the government’s offer of land and access to minerals such as gold to sango coin buyers is unconstitutional. According to the court, the country’s “nationality has no market value,” hence President Faustin-Archange Touadéra’s government must stop promising citizenship to investors that buy sango coins worth $60,000. Government Says It Respects Court’...

The U.S. Securities and Exchange Commission (SEC) has warned about scammers exploiting investors’ fear of missing out (FOMO) on social media. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC cautioned. SEC Says Scammers Often Use Social Media to Defraud Investors The U.S. Securities and Exchange Commission (SEC) published an Investor Alert titled “Social Media and Investment Fraud” Monday. The SEC’s Office of Investor Education and Advocacy warned that “fraudsters often use social media to scam investors.” Encouraging investors to be skeptical and “never make investment decisions based solely on information from social media platforms or apps,” the securities regulator described: Fraudsters may exploit investors’ fear of missing out to lure investors on social media into ‘crypto’ investment scams. “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC stressed. “Promises of high investment returns, wi...

Dubai, Tuesday, August 30th – Zogi Labs Ltd. officially releases The Legends of Bezogia Beta to global audiences seeking to experience an NFT crypto-based MMORPG like never seen before. The Legends of Bezogia takes the crypto gaming industry to new heights with next-level graphics, a rich and deep backstory, countless quirky characters & villains and a massive open world. Players can rent, own & sell their own NFT Bezogi characters and kit them out with NFT weapons that add unique flavor to the gameplay never seen before in an NFT crypto-based massive open-world game. “Following on from a year of hard work, devotion and creative passion we’re extremely excited to finally launch The Legends of Bezogia Beta after an overwhelmingly positive response & signup count. With the aim of taking the NFT crypto gaming industry by storm, the game will give users all around the world a totally new experience in crypto gaming which is fitting for 2022. Gone are the days of crypto games...

The chief global strategist of JPMorgan Asset Management has advised investors to focus on valuations, invest in value stocks, sell crypto, and steer clear of bitcoin. “The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch,” he said. JPMorgan Strategist’s Recommendations JPMorgan Asset Management’s chief global strategist, David Kelly, has some advice about what investors who are worried about a hawkish Federal Reserve should invest in. Following the speech by Federal Reserve Chairman Jerome Powell Friday at Jackson Hole, Wyoming, he was quoted as saying : The economy has got one foot into a recession and the other on the banana peel now. “We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored. We will keep at it until we are confident the job is done,” Powell said last week. Warning of m...

According to a recent report, the venture capital firm founded by Alexis Ohanian, Seven Seven Six, is planning to raise $177 million for a new crypto-centric fund. The new Seven Seven Six fund called Kryptós will concentrate on investing in cryptocurrencies like bitcoin and ethereum. Seven Seven Six Launches Cryptocurrency Fund Kryptós — Plans to Go Live in October On August 29, 2022, The Information reporter Kate Clark published a report that noted Reddit co-founder Alexis Ohanian’s Seven Seven Six is raising money for a new crypto-focused fund called Kryptós. The company has been behind a number of investments tethered to the crypto and Web3 industry. For instance, Seven Seven Six led the Ethereum Web3 wallet platform Rainbow’s $18 million funding round . In mid-December 2021, Seven Seven Six teamed up with Polygon to launch a $200 million social media Web3 fund. On Monday, The Information’s report says the fund Kryptós is looking to raise $177 million and it will invest in cr...

Phil Spencer, head of the Xbox brand, believes that the metaverse has been with us since 30 years ago, when digital gaming was largely introduced. However, Spencer criticized play-to-earn (P2E) models, stating that they create a workforce out of a kind of gamer who needs to monetize the time spent playing. Xbox Boss Phil Spencer Believes the Metaverse Has Been Here for Some Time The metaverse and its current conceptions have been the subject of debate and criticism. The current head of the Xbox brand and CEO of gaming at Microsoft, Phil Spencer, offered his skeptical take on how the metaverse, an alternate world, is currently being presented. In an interview with Bloomberg, Spencer stated that the metaverse is nothing new and that it is related to what gamers have already been doing for some time. He explained : My view on metaverse is that gamers have been in the metaverse for 30 years. When you’re playing games, these 3D shared worlds that people have been playing in for years a...