Bitcoin News and Finance: What You Need to Know

DBS, the largest bank in Southeast Asia, says it is “the first bank in Singapore to make a foray into the metaverse.” A DBS executive explained that “The metaverse presents exciting opportunities to redefine how we live, work and engage with each other.” DBS Entering the Metaverse Southeast Asia’s largest bank, DBS, announced Friday a partnership with The Sandbox, a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain. The aim of the partnership is “to create DBS Better World, an interactive metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside,” the announcement describes, adding: The partnership makes DBS the first Singapore company to seal a partnership with The Sandbox and the first bank in Singapore to make a foray into the metaverse. “Under the partnership, DBS will acquire a 3×3 plot of LAND — a unit of virtual real estate in The Sandbox me...

The U.S. Securities and Exchange Commission (SEC) is setting up a dedicated office to review crypto-related filings. The securities regulator stressed the need to “provide greater and more specialized support” for crypto assets. SEC’s Dedicated Crypto Office The U.S. Securities and Exchange Commission (SEC) announced Friday its plan to establish two new offices to review filings. One is an “Office of Crypto Assets” and the other is an “Office of Industrial Applications and Services,” the regulator said, adding that it expects both to be set up later this fall. The two new offices will join the agency’s seven existing offices that “provide focused review of issuer filings,” the SEC detailed, noting that these offices are grouped by industry expertise and will be under the agency’s Division of Corporation Finance’s Disclosure Review Program (DRP). “The Office of Crypto Assets will continue the work currently performed across the DRP to review filings involving crypto assets,” the se...

The CEO of Devere Group, a financial advisory and asset management firm, has shared multiple reasons why he is buying the bitcoin dip. “Despite the recent turbulence, I believe that the trajectory of bitcoin and other major cryptos is upwards,” he said. Nigel Green Explains Why He Is Buying More Bitcoin The CEO of financial advisory and asset management firm Devere Group, Nigel Green, has confirmed that he is buying the bitcoin dip. In a blog post published this week, the executive outlined various reasons why he is buying more bitcoin amid the crypto market sell-off. “The continuing strength of the U.S. dollar, which is down to policy tightening by the Federal Reserve, is being felt by bitcoin and all other risk assets, as we have seen in the recent drop in global stock markets,” he began, adding: But like many serious crypto investors, I’m buying the dip. I’m embracing this short-term volatility for longer-term gains. Green proceeded to share why he is buying more BTC . “One ...

Six U.S. senators have demanded answers from Meta CEO Mark Zuckerberg about how his company is handling cryptocurrency scams on its social media platforms, including Facebook, Instagram, and Whatsapp. “We are concerned that Meta provides a breeding ground for cryptocurrency fraud that causes significant harm to consumers,” the lawmakers wrote. Senators Want Answers From Mark Zuckerberg and Meta Platforms U.S. Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernard Sanders, and Cory A. Booker jointly sent a letter on Thursday to Mark Zuckerberg, chairman and CEO of Meta, about his company’s “efforts to combat cryptocurrency scams on its social media platforms, including Facebook, Instagram, and Whatsapp.” Citing “recent reports of scams on other social media platforms and apps,” including data from the Federal Trade Commission (FTC), the senators wrote: We are concerned that Meta provides a breeding ground for cryptocurrency fraud that causes signific...

Blockchain gaming publisher Animoca Brands announced the company has raised $110 million in a funding round led by Temasek, Boyu Capital, and GGV Capital. The company raised the funds by issuing convertible notes to a handful of institutional investors. Animoca Brands Raises $110 Million From Strategic Investors Animoca Brands has raised another $110 million this month after the company secured $100 million from Temasek and others, at the end of August. The latest capital raise, announced on September 8, explains that Temasek, Boyu Capital, and GGV Capital led the round, and Mirae Asset Management and True Global Ventures participated as well. The Hong Kong-based crypto gaming, NFT, and venture capital company Animoca Brands (AB) has managed to grow via a number of investment rounds amid the crypto winter. The company’s Japanese subsidiary, known as Animoca Brands KK (Animoca Brands Japan), raised $45 million from Japan’s largest bank MUFG, and Animoca Brands KK’s parent company...

Cardano was one of Saturday’s notable gainers, with the token surging to a three-week high. The sandbox was also in the green, rising to a multi-week peak, as sentiment in the cryptocurrency market remains mostly bullish. Overall, the global crypto market cap is up nearly 2% as of writing. Cardano ( ADA ) Cardano ( ADA ) climbed to a three-week high on Saturday, as the token rose for a fourth consecutive session. Following a low of $0.4894 on Friday, ADA /USD was able to reach a peak of $0.5235 to start the weekend. Saturday’s top is the highest point the token has traded at since August 18, and comes as prices climbed above a major resistance point. The ceiling of $0.5115 was broken earlier in the day, and comes as the 10-day (red) moving average crossed against its 25-day (blue) counterpart. Looking at the chart, another notable occurrence is that the relative strength index (RSI) of 14-days also moved beyond a ceiling, at 56.00. Now tracking close to 58.00, should the index ...

Ethereum rallied to a fresh three-week high to start Saturday’s session, however gains eased as the day progressed. The token continues to trade above $1,700, as market sentiment remains bullish. Bitcoin experienced a similar day, with the token slowly losing steam, after a failed breakout of a key resistance level. Bitcoin Bitcoin ( BTC ) continued to trade above $21,000 on Saturday, however yesterday’s bullish momentum had marginally faded. BTC /USD rose to a high of $21,613.86 earlier in today’s session, however prices then fell to an intraday low of $20,651.06. The decline came as the token was unable to sustain a breakout of its resistance point of $21,600, as bears fought against the move. Looking at the chart, the drop comes as the 14-day relative strength index (RSI) appeared to collide with a resistance level of its own at 55.40. As of writing, bitcoin is now trading at $21,356.34 as momentum slowly returns, however until the RSI moves past the aforementioned ceiling, w...

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...

Digital asset-backed securities provider the Etc Group has said it will list an exchange-traded product (ETP) based on an anticipated hard fork of the Ethereum blockchain on September 15. Current holders of Etc Group’s ethereum ETP (ZETH) will be issued with “units of the new security free of charge on a 1:1 unit basis.” Ethereum Hard Fork The Etc Group, a provider of institutional-grade digital asset-backed securities, has said it will list a new exchange-traded product (ETP) based on a hard fork of the Ethereum blockchain that is likely to occur after the so-called “Merge.” According to a statement issued by the securities provider, the ETP will be listed on the German exchange Xetra on September 16, a day after the forking event. As outlined in the securities provider’s statement , holders of Etc Group’s current ethereum ETP (ZETH) will be issued with “units of the new security free of charge on a 1:1 unit basis.” The statement explained that the new units will be “in addition t...

Recognizing existing demand for non-fungible tokens, or NFTs, one of the largest banks in Russia, Sberbank, now intends to allow users to issue them on its blockchain platform. The financial institution also plans to cooperate with art sites and galleries across the country. Sberbank to Give Clients Opportunity to Mint NFTs An option providing users with the chance to issue their own non-fungible tokens should appear on Sberbank’s blockchain platform in the fourth quarter of the year, the bank’s Deputy Chairman Anatoly Popov unveiled during the Eastern Economic Forum in Vladivostok. The high-ranking executive added that the Russian banking giant plans to start cooperating on projects with art sites, galleries, and potentially sports organizations for NFT releases related to games and tournaments. Quoted by the crypto page of the leading Russian business news portal RBC, Popov remarked this is something new for the bank which will first make some tests. At the initial stage, the se...