Bitcoin News and Finance: What You Need to Know

Bloomberg Intelligence’s senior commodity strategist says bitcoin “may be entering an inexorable phase of its migration into the mainstream.” In addition, the cryptocurrency may also “be entering unstoppable maturation stage,” the strategist added, expecting the price of bitcoin to continue to rise over time. Bitcoin’s ‘Unstoppable Maturation Stage’ Bloomberg Intelligence’s senior commodity strategist Mike McGlone provided his outlook for bitcoin this week. Citing rising demand, increased adoption, and regulation, he tweeted Wednesday: Bitcoin may be entering an inexorable phase of its migration into the mainstream, and at a relatively discounted price. In another tweet, he noted the declining supply of bitcoin, adding: “Bitcoin’s definable diminishing supply is unprecedented on a global scale, and so prices should continue to rise over time unless something unlikely reverses demand and adoption trends, given the laws of supply and demand.” He also tweeted: Bitcoin may be ent...

The Rugby League World Cup 2021 is held in the UK between 15 October and 19 November 2022. It is an honor for CoinEx to be a sponsor of the prestigious RLWC event and to have the opportunity to inspire rugby fans to begin their cryptocurrency trading journeys. CoinEx & RLWC Exclusive Collaboration By sponsoring the Rugby League World Cup 2021 (RLWC 2021), CoinEx has become the exclusive cryptocurrency trading platform partner of the RLWC , demonstrating its willingness to engage and establish relationships with industries other than crypto. As the exchange strives to accomplish its vision, it also respects and supports the dedication, work and passion of players from non-crypto communities. Why CoinEx chose to sponsor RLWC? The brand concept of CoinEx is to break down the financial shackles that hold back the common man and to provide a platform that everyone can use. Additionally, CoinEx’s brand philosophy adheres to the principles of sportsmanship advocated by the RLWC. In ...

India has emerged as a leading global player in the Web3 market, a new report by Nasscom states. Web3 investments in the country grew 37 times from the start of 2020 to Q1 2022 and $1.1 trillion in Web3 economic value is projected to be added to India’s GDP by 2032. India Emerges a Leading Global Player in Web3 Market Nasscom published a report titled “The India Web3 Startup Landscape: An Emerging Technology Leadership Frontier” Wednesday. Established in 1988, Nasscom is a non-profit industry association for the technology sector in India. The organization has more than 3,000 members, representing 90% of the industry’s revenue, its website details. The report states: India has emerged as a leading global player in the Web3 market, with a competitive talent pool, high rates of adoption and products built for the world. The total number of Web3 startups in India as of the first half of this year was more than 450; they have raised more than $1.3 billion since 2020. The average ...

Bitcoin’s volatility has fallen below that of the Nasdaq and the S&P 500, according to crypto data provider Kaiko. Compared to equity markets, cryptocurrency markets have become less reactive to volatile macro events, including high inflation, an appreciating dollar, rising interest rates, ongoing war, and the energy crisis, the firm explained. ‘Bitcoin Volatility Is at Multi-Year Lows’ Bitcoin has become less volatile than both the Nasdaq and the S&P 500, according to cryptocurrency data provider Kaiko, CNBC reported. The crypto data firm explained Friday that BTC ’s 20-day rolling volatility has dropped below that of the two stock indexes for the first time since 2020. Clara Medalie, Kaiko’s head of research, told the news outlet: Bitcoin volatility is at multi-year lows while equity volatility is only at its lowest level since July. “Equity markets have certainly been volatile over the past few months due to high inflation, an appreciating dollar, rising interest rat...

Tesla and Spacex CEO Elon Musk expects a global recession to last until the spring of 2024. Musk added that his two companies are in good positions but many others are not. “Recessions do have a silver lining in that companies that shouldn’t exist stop existing,” the Tesla boss said. Elon Musk on Global Recession Tesla CEO Elon Musk shared his thoughts about a global recession in a Twitter thread Friday. The thread was started by Dogecoin co-creator Billy Markus who tweeted: “Coronavirus numbers are actually pretty low. I guess all we have to worry about now is the impending global recession and nuclear apocalypse.” Musk commented: “It sure would be nice to have one year without a horrible global event.” Another Twitter user chimed in, asking Musk: “How long do you think the recession will last?” The Tesla boss replied: “Just guessing, but probably until spring of ’24.” The same Twitter user followed up with the question: “How much worse do you think it will get? Like a little wo...

The Organization for Security and Co-operation in Europe (OSCE) has set out to teach law enforcement officers in Uzbekistan how to conduct crypto and dark web investigations. The regional body recently organized a training course for employees of the country’s security agencies in Tashkent. Uzbekistan Police and Security Agents Attend OSCE Course on Cryptocurrencies Representatives of Uzbekistan’s Prosecutor General’s Office, the Ministry of Internal Affairs, and the State Security Service have taken a training course on cryptocurrency and dark web investigations held by the OSCE between Oct. 17 and 21 in the capital Tashkent. The course was organized by the OSCE Transnational Threats Department in co-operation with the OSCE Project Co-ordinator in Uzbekistan and the Academy of the Prosecutor General’s Office, the intergovernmental security body said on its website. “Participants learned about the main concepts and key trends in the areas of internetworking, anonymity and encryp...

Bitcoin.com , a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced it is launching an NFT project tied to its rewards and utility token VERSE. The Verse NFT collection will be limited in supply by the number of people who purchase VERSE in the Verse token sale, which starts on November 1 at getverse.com . “ Bitcoin.com ’s VERSE token will act as a powerful gateway to DeFi for millions of people,” said Bitcoin.com CEO Dennis Jarvis. “NFTs have so far played a similar role, bringing a whole new user base to crypto while fostering the creation of powerful communities. Integrating NFTs to the Bitcoin.com Verse ecosystem is important therefore not only for increasing the ecosystem’s reach, but also for galvanizing a resilient core community.” Verse NFTs will have utility in the Bitcoin.com Verse ecosystem, such as providing access to exclusive products and services, discounts, and more....

Turkish authorities have reportedly seized $40 million in cryptocurrency and detained 46 people in an illegal betting investigation. “This operation came out of Turkish Cyprus and is linked to the murder of Halil Falyalı,” Turkish Minister of Interior Süleyman Soylu said. Turkey Confiscates $40 Million in Cryptocurrency The Office of the Ankara Chief Public Prosecutor’s Smuggling and Organized Crime Investigation Bureau issued an order detaining 46 suspects and confiscated $40 million in cryptocurrency Wednesday, the Daily Sabah reported. The detention and seizure were part of an illegal betting investigation in eight provinces: Ankara, Batman, Bingöl, Kayseri, Kırıkkale, Muş, Van, and Yozgat. The suspects allegedly mediated the transfer of illegally obtained funds to the crypto accounts of a criminal organization that includes Halil Falyalı and his wife. Betting and casino tycoon Halil Falyalı was shot dead on Feb. 8 in an armed assault near his house in Kyrenia, a city on the n...

Cryptocurrency exchange Binance will be able to offer services for digital assets in Cyprus as the platform is now registered with the country’s securities regulator. The news comes after the company obtained similar approvals in several other European jurisdictions. Global Exchange Binance to Comply With Cyprus Crypto Regulations Binance, the world’s leading crypto exchange in terms of daily trading volume, has received regulatory authorization in Cyprus. Its local entity, Binance Cyprus Limited, was granted Class 3 registration as a Crypto Asset Services Provider (CASP), the trading platform announced Thursday. The regulatory approval issued by the Cyprus Securities and Exchange Commission ( CYSEC ) will allow Binance to offer spot, custodian, staking, and card services, in compliance with the CYSEC’s anti-money laundering and counter-terrorist financing (AML/CTF) requirements. In a press release, the exchange noted that this is another milestone in its regulatory efforts in Eur...