Bitcoin News and Finance: What You Need to Know

Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent, will ostensibly see the whole region getting a chance to reap “the financially inclusive benefits.” Enabling Faster, Low-Cost Remittances The United States-based technology company, Ripple, announced on Nov. 14 that it had formed a partnership with MSF Africa that is expected to help “streamline [MSF Africa’s] real-time mobile payments for their customers across 35 countries.” As part of the agreement, MSF Africa, a leading fintech group on the continent, will use Ripple’s crypto solution known as on-demand liquidity (ODL). Commenting on MSF Africa’s decision to partner with Ripple, the mobile financial solutions company’s CEO, Dare Okoudjou, said: MFS Africa’s mission is to ma...

PRESS RELEASE. As of September 2022, MEXC has finally reached a respectable milestone of 10 million users! To celebrate this unique achievement, starting November 18th of this year, MEXC will introduce a major brand color change to its global userbase to spread awareness for which it stands for. After surveying customers directly during a limited roll-out in South Korea, the color has transitioned from MEXC’s original ‘Forest Green’ color-scheme, to a new, beautiful ‘Ocean Blue’ pallet. At MEXC, our #1 priority is adhering to the principle of ‘Users Come First’. Upon further surveying additional global markets, the response has been overwhelmingly positive for ‘Ocean Blue’ – the change is now permanent. Vice President of MEXC, Andrew Weiner states that users in Korea advocated strongly for the rebrand to ‘Ocean Blue’. “Following our evaluation, we tested the requested color upgrade with our passionate users from MEXC Korea. It was great to see the change so well-received, and MEXC i...

Singapore government’s Temasek has written down the full value of its $275 million investment in the bankrupt crypto exchange FTX. “ Our belief in the actions, judgment, and leadership of Sam Bankman-Fried … would appear to have been misplaced,” Temasek admitted. Temasek’s Investments in FTX Now Worth $0 The Singapore government’s Temasek Holdings issued a statement regarding its investments in FTX Thursday after the cryptocurrency exchange filed for bankruptcy . Temasek is a global investment company headquartered in Singapore with a portfolio valued at $403 billion Singapore dollars (US$294 billion). Temasek was established to own and manage the assets previously held by the Singapore government; the government is the sole equity shareholder of Temasek. The investment firm explained: We invested US$210 million for a minority stake of ~1% in FTX International, and invested US$65 million for a minority stake of ~1.5% in FTX US, across 2 funding rounds from October 2021 to Januar...

U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurrency is an excellent store of value . She tweeted Monday: The FTX bankruptcy wouldn’t happen under the Lummis-Gillibrand bill. Lummis and Senator Kirsten Gillibrand (D-NY) ...

The new CEO of FTX, appointed after the crypto exchange filed for bankruptcy, has blasted the company under former CEO Sam Bankman-Fried. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” he said in a court filing. ‘Complete Failure of Corporate Controls’ John Ray III, the new CEO of FTX and a veteran insolvency professional who oversaw the liquidation of Enron , revealed in a court filing on Thursday that FTX is the worst case of corporate failure that he had seen in his more than 40-year career. Ray, who was appointed to replace Sam Bankman-Fried (SBF) when FTX filed for Chapter 11 bankruptcy on Nov. 11, wrote: Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. “From compromised systems integrity and faulty regulatory oversight abroad to the concentration of...

Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion of Ukraine. Crypto and Ruble Considered for Payments in Trade Between Russia and Cuba The governments of Russia and Cuba are considering the use of Russian rubles and cryptocurrencies to facilitate bilateral cooperation against the backdrop of sanctions imposed on both nations. The news comes from a statement made by Boris Titov, commissioner for entrepreneurs’ rights under the Russian president, who visited Havana. Russia’s business ombudsman arrived in the Cuban capital during the 38th edition of the Havana International Fair. “All of us, Cuba and Russia, are under sanctions, the dollar turnover is the main financial mechanism that exists in the world for mutual settlements, but today ...

On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years. While bitcoin’s value is 75% lower than it was a year ago, so-called sleeping bitcoins have been waking up amid the recent crypto market capitulation. While Bitcoin’s Price Remains 75% Lower Than a Year Ago, a Slew of Old Bitcoins Start Moving After Years of Inactivity Five days ago, 3,500 bitcoin from 2011 were transferred for the first time in 11 Years. Amid the crypto market carnage associated with FTX, old coins have been waking up for some reason, and they have been moving to unknown wallets. For instance, the bitcoin address “ 1QBG9 ,” moved 25 BTC at block height 762,719 from an address created on Nov. 13, 2011. Not too long after that, 50 bitcoin from 2010 were spent on Nov. 14, 2022, after sitting idle for over a decade. The bitcoin address “ 1LB8B ,” which moved the 50 BTC at block height 763,149 was created...

Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities and Investments Commission (ASIC) has suspended the financial services license of FTX Australia Pty Ltd. until May 15, 2023. The decision comes after the local arm of the failed cryptocurrency exchange was placed under voluntary administration on Friday. In an announcement published on its website on Thursday, the regulator pointed out that the entity will be able to continue to provide limited financial services related to the termination of existing derivatives with clients until Dec. 19, 2022. The suspension comes after the appointment of two voluntary administrators of FTX Australia and ...