Bitcoin News and Finance: What You Need to Know

The European Commission is going to present a legislative proposal for a digital euro in the near future, President of European Central Bank Christine Lagarde has indicated. EU legislators are expected to define the new currency’s legal tender status and determine its privacy features. EU Commission to Propose Legislation for Eurozone’s Digital Currency Authorities in the euro area have already made good progress in exploring the rationale and the potential benefits and risks of a central bank digital currency ( CBDC ), the head of the European Central Bank (ECB) noted during a conference devoted to the digital version of the common currency. In a video message, Christine Lagarde said that the focus of their efforts is now shifting to the concrete design of the digital euro and its embedding into a legal framework. This is an area where EU legislators will play an important role, the top executive stressed and revealed: I’m therefore very much looking forward to the legislative ...

According to a report published on Nov. 9, 2022, Temasek Holdings, the Singaporean state holding company owned by the government of Singapore is allegedly engaging with FTX amid Binance’s plans to bail out the crypto trading firm. Singapore’s state investor has been known to have invested in the cryptocurrency and blockchain industry for quite some time now. Singaporean State Holding Company Temasek Helped Fuel FTX’s Series B and C Funding Rounds, Spokesperson Says Company Is Engaging With FTX On Nov. 9, 2022, The Straits Times (TST) business correspondent Claire Huang reported that a spokesperson from Temasek Holdings has been engaging with FTX. Temasek is Singapore’s state-owned holding company that was established in 1974. Temasek’s assets under management (AUM) as of 2022 are estimated to be worth around S$403 billion . “We are aware of the developments between FTX and Binance, and are engaging FTX in our capacity as a shareholder,” the Temasek spokesperson reportedly told Hua...

Following the issues surrounding FTX, the publicly-listed firm Galaxy Digital published its third-quarter earnings report and noted it has an “exposure of approximately $76.8 million of cash and digital assets to FTX.” The news follows a great number of exchange executives announcing that they had zero material exposure to the troubled exchange. Galaxy Digital Has Close to $77 Million in FTX Exposure After Galaxy Digital was dealt with a blow from the Terra blockchain fallout and UST depegging event, the company has revealed exposure to the embattled crypto exchange FTX. It started on Nov. 6, when Binance CEO Changpeng Zhao (CZ) told the public his exchange would dump FTT, the FTX-built exchange token. Then, after a couple of days of confusion, CZ and FTX CEO Sam Bankman-Fried revealed Binance would be acquiring FTX, with details to be announced in the near future. However, Binance revealed on Nov. 9 that it has officially backed out of the deal to acquire FTX. The news has rat...

Whistleblower and former NSA contractor, Edward Snowden, has been very vocal about the crypto economy in recent times. After publishing a copy of Bitcoin’s white paper on Twitter on the document’s 14th birthday, Snowden had some words with Craig Wright, the man who claims to be Satoshi Nakamoto. Following the news tied to the troubled crypto exchange FTX, Snowden added his two cents and said “custodial exchanges were a mistake.” After Feuding With the Self-Proclaimed Satoshi, Edward Snowden Blasts Troubled Crypto Exchange FTX and Sam Bankman-Fried’s Now-Deleted Tweets Edward Snowden has been tweeting often about the crypto sector and on Oct. 31, 2022, the whistleblower published a copy of Bitcoin’s white paper on the document’s 14th anniversary . While the tweet received over 46,000 likes and close to 10,000 retweets, it started an online tiff between Snowden and Craig Wright. Snowden's tweets are why I am on Twitter https://t.co/1pBlEORKFo — Shashank Bhardwaj (@bhardwajsha...

PRESS RELEASE. Hong Kong, 9th Nov 2022 – Bitget, the leading global crypto exchange with a core focus on social trading, launches another innovative social trading feature, Strategy Plaza. The new feature provides users with the option to follow a series of automated trading strategies and allows the system to automatically execute the strategies after subscription, facilitating trades with convenience and flexibility. Strategists could create their unique automated trading strategies and share them on Strategy Plaza. At the same time, regular users could review each strategist’s profile and performance contributed by their strategies, and choose to subscribe to their favourite strategists and follow those strategies. After subscribing to strategists, the trading strategies will be automatically executed for the users over the following 30 days, including the actions to start and end strategy taken by the strategists, as an addition to copy trading with manual ordering. Strategy Pl...

The Central Bank of Russia is proposing to introduce tax incentives for long-term holders of digital financial assets. The idea has been circulated with a consultation paper published for public discussions on the development of the digital asset market in the Russian Federation. Bank of Russia Talks Regulation in New Report Devoted to Digital Assets Market Russia’s monetary authority has published a report on the future of the Russian digital asset sector. The document explores the development of the market for digital financial assets (DFAs) and utility digital rights (UDRs), and legal terms partially covering cryptocurrencies and tokens — those with an issuing entity, in particular. The Central Bank of Russia (CBR) believes that additional regulations are needed to improve the DFA framework and harmonize it with the rules that govern the traditional financial industry. According to the regulator, this would increase investment, circulation, and liquidity while ensuring better in...