Bitcoin News and Finance: What You Need to Know

Meta, the metaverse-focused social media company, is helping universities get their own virtual reality campuses online. The company will be opening 10 virtual campuses as part of its Immersive Learning project, which seeks to take education to virtual reality environments. In partnership with Victoryxr, an Iowa-based virtual reality education startup, Meta will invest $150 million in this initiative. Meta Getting Universities Into the Metaverse One of the biggest applications of virtual reality and metaverse technology has to do with education and the possibility of virtual reality classes coming true. Meta, the social media behemoth, is executing this idea, helping 10 universities to launch their metaverse-based campuses. One of these is the University of Maryland Global Campus (UMGC), which is an online university. The more than 45,000 students of the university will now be able to meet in a metaverse online to convene and share their experiences. Daniel Mintz, chairman of the ...

The world’s largest cryptocurrency trading platform by trade volume, Binance, issued a notice on Monday explaining that the exchange will be removing the stablecoin USDC from the platform’s spot trading pairs list. Binance further details that users holding three types of stablecoins will see their balances auto-converted into BUSD if the user does not remove the specific crypto asset from the exchange. Binance to Delist Specific Stablecoin Trading Pairs by the End of September It seems Binance will be removing the world’s second-largest stablecoin usd coin (USDC), a U.S. dollar-pegged token issued by the Centre consortium . During an announcement made on Monday, Binance explained that it plans to auto-convert certain stablecoin balances if the funds are not removed by September 29, 2022. “Fellow Binancians, in order to enhance liquidity and capital-efficiency for users, Binance is introducing BUSD Auto-Conversion for users’ existing balances and new deposits of USDC, USDP and TU...

Volatility in crypto markets remained high on Monday, as bitcoin was mostly in the red to start the week. The token has once again moved below $20,000, as prices appear to be consolidating. Ethereum was also trading sideways, with prices falling marginally below a key support level earlier in the day. Bitcoin Bitcoin ( BTC ) started this week how it ended the previous, trading not only in the red, but also below $20,000. The world’s largest cryptocurrency fell to an intraday low of $19,673.05 on Monday, as the post-nonfarm-payrolls-report bearish sentiment continued. Today’s low saw BTC /USD briefly move close to its support point of $19,600, however bulls have so far resisted a move below this point. Looking at the chart, it appears as though the decline came as the 24-day relative strength index (RSI) failed to break through its own ceiling. As of writing, the RSI is tracking at 35.84, which is below the aforementioned resistance point of 37.90. In order for bitcoin to climb ...

Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident of Russian Republic of Tatarstan’s capital city, Kazan, has been apprehended in Astrakhan, Southern Russia, for allegedly defrauding 10 local residents and a number of foreigners who tried to buy mining equipment from him. The Russian posted fake ads of crypto mining machines for sale and insisted on receiving the payments in advance. Law enforcement authorities have estimated he was able to collect around 19 million rubles this way (approx. $315,000). “According to the investigation, the young man posted on the internet tempting offers for the sale of cryptocurrency mining devices, which he never actually had. Now he...

Action Point, an Argentine startup, has developed a white-label solution that allows banks to offer cryptocurrency services through their already existent ATM infrastructures. The company provides this service in partnership with Lirium AG, a crypto-as-a-service organization, and has already implemented the solution in over a dozen ATMs in the country. Argentine Startup Action Point Takes Crypto to Fiat ATMs Latam has been a fertile land for crypto adoption, and now banks in Brazil and Argentina are including cryptocurrency services on their platforms. Action Point, an Argentine startup, aims to surf the wave of this trend by providing middleware tech to help banks achieve this goal. The company has developed a white-label solution for banks to include cryptocurrency services in their already available ATM networks. The white label property of the tool allows each banking organization to preserve its own digital app as the only way of accessing its services. The solution works on t...

The Chinese metaverse industry has reportedly raised about $780 million in funding and there are expectations this will grow to be a $5.8 trillion industry by 2030. So far there are 160,000 virtual human enterprises in China while 20 provinces or cities in the country are reportedly supporting the metaverse. Developing the Metaverse According to a local media report , China’s metaverse industry has raised $780 million (5.46 billion yuan) in funding. In addition to 160,000 “Chinese virtual human enterprises,” there are about 20 provinces or cities that are already supporting the metaverse, the report added. Also, as per a report on the Chinese language news site, there are expectations that the market size of China’s metaverse would grow to $5.8 trillion by 2030. Meanwhile, the report said two Chinese companies — the internet giant Tencent and one of the country’s leading video gaming companies Netease Yaotai — are competing and working to find ways to develop the metaverse. While...