Bitcoin News and Finance: What You Need to Know

Mercado Bitcoin, one of the biggest Brazilian cryptocurrency exchanges, has announced a new wave of layoffs amidst a worsening global economic situation for fintech startups, which the exchange states is affecting innovation-based companies. The exchange laid off 15% of its workforce on September 1st, this being the second round of layoffs the company has executed in three months. Brazilian Exchange Mercado Bitcoin Announces New Wave of Layoffs Cryptocurrency companies in Latam and all over the world are being negatively affected by the recent downturn in crypto and traditional markets. Mercado Bitcoin, a cryptocurrency exchange based in Brazil, has announced the execution of a series of layoffs due to the global economic conditions. According to local media , Mercado Bitcoin let go of 15% of its workforce on September 1st, as part of a series of measures taken by 2TM, the holding company of the exchange, directed to streamline operations. In a statement, the company also criticiz...

Yuga Labs, the creators of the popular Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) non-fungible token (NFT) collections, has released another video clip showcasing the Otherside metaverse. The second Otherside trailer features characters called “Kodas” and the development team says “the story continues later this Q4.” Sword-Carrying Koda Meets the Otherside Portal — Yuga Labs Hints at Continuing Metaverse Story in Q4 On September 1, 2022, Yuga Labs leveraging the Twitter account @Othersidemeta , shared a new video teaser of the upcoming metaverse the Otherside . The video follows Yuga Labs publishing the Otherside litepaper , which covers the “foundational principles” of the upcoming metaverse. The second trailer is somewhat of a backstory before the BAYC dubbed “Curtis” steps through the portal, while the Doors song “Break On Through” plays. The 2-minute clip features a character called a “Koda” and one of them equipped with a sword ...

Thailand has introduced tighter rules that will oblige crypto companies to duly inform potential customers of the investment risks on their advertisements. The new regulations also prohibit businesses in the industry from making misleading or exaggerated claims. Securities Watchdog Adopts Stricter Advertising Rules for Crypto Platforms in Thailand Thailand’s Securities and Exchange Commission ( SEC ) has approved new requirements for crypto ads, Bloomberg and Reuters reported quoting the regulator. According to a statement released on Thursday, the changes come after the SEC found that some advertisements lacked any warnings about the risks associated with cryptocurrencies or featured only positive information. Crypto firms in Thailand will now be obliged to clearly indicate the relevant risks for investors in their ads and the warnings must be easy to notice. They should present balanced views of the expected returns and mention both positive and negative factors. The advertisemen...

The non-profit organization promoting the creation of the digital dollar, the Digital Dollar Project, has announced the launch of a sandbox program to kickstart the probe of the technical implementations of the envisaged digital currency. The fintech firm Ripple is among the four participants that are expected to help the Digital Dollar Project “explore technical and business implementation questions.” Inaugural Cohort to Focus on Cross-Border Payments The Digital Dollar Project (DDP), a nonprofit organization spearheading discussions around the mooted digital version of the U.S. dollar, recently announced the launch of the “technical Sandbox Program to jumpstart further exploration of technical implementations” of the central bank digital currency (CBDC). In a statement, the DDP revealed that the sandbox program is set to start in October “with the inaugural cohort focused on cross-border payments.” According to a statement, four organizations namely Ripple, Digital Asset, EMTECH,...

Pezesha, a Kenyan fintech focused on providing bridging finance to small and medium-sized enterprises, recently raised $11 million in pre-Series A debt-equity funding round. The Women’s World Banking Capital Partners II led the round in which the Cardano blockchain builder Input Output Global also participated. Pezesha Solving Working Capital Problems for MSMEs A Kenya-based fintech, Pezesha, announced recently that it raised $11 million from its pre-Series A debt-equity funding round. According to a Techcrunch report, this series was led by Women’s World Banking Capital Partners II with the Cardano blockchain builder Input Output Global (IOG) also participating. Other participants were Verdant Frontiers Fintech Fund and Cfund. As per the report , Pezesha plans to use the funds to expand its embedded finance business to micro, small medium-sized enterprises (MSMEs) operating in countries like Nigeria, Rwanda and Francophone Africa. Commenting on how Pezesha plans to avail its lend...