Bitcoin News and Finance: What You Need to Know

Walmart’s global chief technology officer has revealed crypto’s role in the retail giant’s future. “Crypto will become an important part of how customers transact,” the executive said. “We want to make sure that we make it as friction free for customers to be able to transact.” Executive Discusses Crypto in Walmart’s Future Walmart Global Chief Technology Officer and Chief Development Officer Suresh Kumar discussed cryptocurrency at Yahoo Finance’s All Markets Summit Tuesday. Replying to a question about the role of crypto in Walmart’s future, Kumar said: “I think that there are three major areas of disruption. Crypto falls in sort of the middle of it. I have talked before about the way in which customers are getting inspired and discovering products. That is changing.” He continued: “Part of that is going to happen in the metaverse. Part of that is going to happen on live streams, inside your social media app. So whether it is physical goods or virtual goods, they [crypto] play a...

The CEO of global investment bank Goldman Sachs, David Solomon, sees a good chance of a U.S. recession. He stressed that the “environment heading into 2023 is one that you’ve got to be cautious and prepared for.” Goldman Sachs CEO Warns About U.S. Recession, Advises Investors to Be Cautious Goldman Sachs CEO David Solomon warned about where the U.S. economy is headed in an interview with CNBC Tuesday. He said: I think it’s a time to be cautious, and I think that if you’re running a risk-based business, it’s a time to think more cautiously about your risk box, your risk appetite. “I think you have to expect that there’s more volatility on the horizon now,” the Goldman CEO continued. “That doesn’t mean for sure that we have a really difficult economic scenario. But on the distribution of outcomes, there’s a good chance that we have a recession in the United States.” However, the executive noted: “The fundamentals really don’t change. The leadership does move to different places, ...

PRESS RELEASE. “Creating a neobanking super-app for crypto and digital assets has been blockbank’s ultimate vision since its inception. Throughout this past year, we have listened to our growing user base, acquired global licenses, and built one of the most technologically advanced pieces of software in this space,” said Anastasija Plotnikova, the CEO of blockbank. Blockbank is available on the Apple and Google Play stores for download and provides the end user with a portal into all things banking, digital finance, and cryptocurrency. Having multiple back-ends with one front-end establishes a multi-faceted user-centric experience allowing each user to pick and choose how they want to participate not only in the application but with their own personal finances. The app aims to give its users an unparalleled set of options. First, where they are fully KYC’d, and the assets are custodied within the application, users can stake, earn, and trade. Second, where users can be fully de...

Following the recent xrp and ether prediction forecasts by crypto and fintech experts chosen by the product comparison web portal, finder.com, Finder’s latest handful of specialists have produced a predictions report for bitcoin. The group of 55 Finder’s experts think bitcoin will increase in value by more than 10% by the year’s end, and by 2025, the participants expect bitcoin to be around $79K. Finder’s Panelists Share Bitcoin Forecasts Finder’s experts have convened again and this time the group tallied up the predictions for the leading crypto asset by market capitalization bitcoin ( BTC ). Currently, 77% of the panelists still think BTC is a store of value (SoV) despite the 70% decline from the all-time high. 56% of Finder’s panelists think BTC is currently underpriced and most expect BTC to climb to $21,344 by December 2022. “Bitcoin is suffering due to external macro conditions,” Coinsmart Financial CEO Justin Hartzman told the finder.com researchers. Hartzman assumes BT...

On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher’s summary of the situation, a large portion of the funds were old coins. Whale Transfers 48,000 Bitcoin Amid Coiled Market While bitcoin (BTC) has been trading under the $20K region and trading sideways, observers have witnessed a number of old coins move onchain. The onchain movement comes at a time when market volatility is expected. For instance, the latest Glassnode Insights report called “A Coiled Spring,” expects some bitcoin price fluctuations to occur in the near future. “The bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows,” Glassnode wrote on October 17. “Futures open interest has hit new all-time-highs, despite liquidations being at all-time-lows. Volatility is likely on the horizon, and Bitcoin prices rare...

Ethereum was back below the $1,300 level on Wednesday, as the U.S. dollar rose following better than expected quarterly earnings. So far this earnings season, Netflix, Bank of America, and others have outperformed expectations, highlighting what some view as the resilience of the U.S. economy, despite the global slowdown. Bitcoin was also back in the red. Bitcoin Bitcoin ( BTC ) was trading lower on Wednesday, as prices continued to decline following a failed breakout of a resistance at $19,550. Following a high of $19,655.75 on Tuesday, which saw BTC /USD move past the aforementioned ceiling, prices slipped to a low of $19,144.77 earlier today. Wednesday’s drop sees the token move closer to a breakout below $19,000, with bears likely targeting a floor of $18,900. Bearish sentiment has largely been present during what many are calling “red October,” with BTC trading below $20,000 for the majority of the month thus far. Looking at the chart, the 10-day (red) moving average has e...

Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their “understanding of the practicalities of implementing a CBDC in Eswatini.” Retail CBDC Presents Strongest Opportunity for Adoption The Southern African nation of Eswatini (formerly Swaziland) recently became the latest African country to signal its intention to issue a digital currency, after it was revealed that the Central Bank of Eswatini (CBE) has appointed a Germany-based firm called Giesecke Devrient as its technology partner. According to a statement issued by the technology firm, an agreement to this effect was signed at the recent annual meeting of the International Monetary Fund (IMF) and the World Bank Group. The country’s selection of the German firm comes some two years after the latter’...

Authorities in Brussels are taking steps to reduce power consumption, including in cryptocurrency mining, as the EU faces limited energy supplies from Russia, the reliance on which it has been trying to lower. New energy efficiency labeling is to address the growing electricity usage in the crypto sector. EU to Develop Energy Efficiency Label for Data Centers Amid Increasing Consumption in Mining The European Union plans to introduce a label for energy efficiency in efforts to counter the growing electricity consumption in data centers such as those mining cryptocurrencies. According to Bloomberg, the EU will also urge member states to target crypto miners’ energy usage as it seeks to navigate the winter with far less Russian gas and other energy than before the sanctions imposed over the war in Ukraine. Quoting a draft proposal, the report revealed that the EU’s executive arm wants to work with international partners to adopt a grading measure that will encourage more environmenta...

The Ethiopian government has instructed banks to reject requests for foreign currency to buy so-called non-priority products. The Ethiopian Minister of Industry Melaku Alebel Addis has defended the move, saying this will allow local manufacturers to grow and become competitive. The restrictions are set to remain in force for an indefinite period. Eliminating Pressure From Foreign Products The Ethiopian government has reportedly instructed banks to reject requests for foreign currency to buy what the Ministry of Finance calls non-priority goods. In a letter to the country’s central bank, the ministry reportedly stated that banks must only approve requests for foreign exchange if the customer’s objective is to import food, medicines, or medical equipment. Foreign exchange should also be availed to importers of raw materials, the ministry reportedly said. Justifying the seemingly protectionist policy, the Ethiopian Minister of Industry, Melaku Alebel Addis, suggested in a tweet that ...