Bitcoin News and Finance: What You Need to Know

Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users to crypto through cashback programs that counter the fears of users purchasing cryptocurrencies in today’s uncertain market. Bitpreco to Launch Banking Services Through Bitybank While several traditional banking institutions are now offering or considering offering cryptocurrency-related services in Brazil, crypto-centric applications are also seeking to include traditional financial instruments in their services portfolio. Bitpreco, a Brazilian exchange, is now expanding its services to offer banking functions. The company is one of the largest in Brazil, accounting for 13% of all bitcoin transactions in the last three months. Ney Pimenta, one of the partners at Bitpreco, explained that these new services, which will include payments, ...

Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and connected to develop the regulatory frameworks necessary to prevent a crypto shock that could have a much greater destabilizing impact,” said the deputy governor. Bank of England’s Cunliffe on FTX Collapse and the Need for Crypto Regulation Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, shared his view on the collapse of cryptocurrency exchange FTX and the need for tighter crypto regulation at a Warwick Business School event Monday. Citing “last year’s crypto winter and last week’s FTX implosion,” Cunliffe detailed: While the crypto world … is not at present large enough or interconnected enough with mainstream finance to threaten the stability of the financial system, its links with mainstream finance have been developing ...

The United States Patent and Trademark Office (USPTO) has granted JPMorgan Chase Bank’s trademark registration for “J.P. Morgan Wallet” for use in a wide range of financial services, including virtual currency transfers and exchanges, as well as crypto payment services. JPMorgan Chase’s Wallet Trademark JPMorgan Chase Bank has successfully registered a wallet trademark with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark attorney, tweeted Monday that “J.P. Morgan Wallet” is now a registered trademark. JPMorgan Chase Bank N.A. is listed as the trademark owner. The USPTO granted the bank’s trademark registration on Nov. 15; the application date was July 24, 2020. The services listed for the J.P. Morgan Wallet trademark include “electronic transfer of virtual currencies,” “financial exchange of virtual currencies,” and “cryptocurrency payment processing,” the USPTO website shows. JPMorgan Explains What J.P. Morgan Wallet Is and How...

Several U.S. senators have called on Fidelity Investments to reconsider allowing bitcoin in 401(k) retirement plans. “The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems,” the lawmakers told Fidelity CEO Abigail Johnson. US Senators Want Fidelity to Stop Offering Bitcoin in Retirement Plans Three U.S. senators sent a letter to Fidelity Investments CEO Abigail Johnson Monday regarding the financial services firm’s bitcoin offerings in 401(k) retirement plans. The letter was signed by senators Elizabeth Warren (D-MA), Richard J. Durbin (D-IL), and Tina Smith (D-MN). Reiterating their concerns about Fidelity allowing bitcoin exposure in retirement plans, the lawmakers stressed: “Once again, we strongly urge Fidelity Investments to reconsider its decision to allow 401(k) plan sponsors to expose plan participants to bitcoin.” They detailed: “Since our previous letter , the digital asset industry has only ...

PRESS RELEASE Financie Inc. pleased to announce that the “SUPER SAPIENSS NFT” sales conducted by “SUPER SAPIENSS”, an entertainment DAO project active on FiNANCiE. About SUPER SAPIENSS “SUPER SAPIENSS” is an unprecedented entertainment project that brings together three directors (Yukihiko Tsutsumi, Katsuyuki Motohiro, and Yuichi Sato) who have led the Japanese entertainment and film industry, and producer Takeshi Moriya as board members to create the original story and visualize it. The project is taking on the challenge of an entertainment DAO utilizing FiNANCiE’s “token issuance” and token-based “co-creation community” in order to usher in a new era of entertainment in Japan. The company has conducted two rounds of token-issuing type funding, and has collected a cumulative total of over 50 million yen in support and approximately 3,000 members in the community. The supporters who hold the tokens do not simply observe the production process of the contents, but are closely inv...

According to Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the company holds 2 million bitcoin worth $39.9 billion. The news Armstrong shared comes at a time when the general public is looking directly at exchange balances following FTX’s turbulent collapse. Coinbase Co-Founder Shares Company’s Q3 Shareholder Letter — Says as of Sept. 30, Firm Holds 2 Million Bitcoin Two days ago, Bitcoin.com News reported on Binance’s exchange reserves and at the time the trading platform had close to 600,000 bitcoin, according to cryptoquant.com metrics. As of Nov. 20, 2022, cryptoquant.com stats indicate that Binance holds roughly 584K bitcoin. On the same day, data shows that Coinbase Pro, otherwise known as Coinbase Exchange, holds roughly 532K bitcoin. Furthermore, our newsdesk also reported on Grayscale discussing its balance sheet, as the fund manager noted that “all digital assets that underlie Grayscale’s digital asset products are stored under the custody of Coinbase Custody Tr...

Greenpeace, the international, environment-conscious non-governmental organization (NGO), has criticized the lack of action that Bitcoin-related groups have adopted in the battle against climate change. Rolf Skar, of Greenpeace USA, stated that Bitcoin was “falling behind” on this issue, explaining that most Bitcoin-linked groups fail to even acknowledge the ostensible problem. Greenpeace Blasts Bitcoin’s Lack of Action Greenpeace, the well known environmentalist organization, is criticizing the stance that many Bitcoin-linked companies and organizations have taken regarding the so-called “climate change” phenomena. According to its latest press statement, most of the key players in the Bitcoin environment refuse to acknowledge the problem at all. Rolf Skar, Special Projects Manager at Greenpeace USA, stated : Bitcoin is falling even further behind as others in the crypto industry work to tackle the climate crisis. While other crypto technologies are making changes to become more...

The Warren Buffett-led Berkshire Hathaway has issued a statement warning that a cryptocurrency exchange website is using its name. The company stressed that the crypto firm has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett. Berkshire Hathaway Warns About a Crypto Website Berkshire Hathaway Inc. warned Friday that a crypto exchange website is using its name. “Earlier this afternoon it came to our attention that there is an entity using the name Berkshire Hathaway,” the company stated, elaborating: The entity … has no affiliation with Berkshire Hathaway Inc. or its chairman and CEO, Warren E. Buffett. The landing page of the crypto site in question indicates that the company is a bitcoin exchange. “Berkshire Hathaway is a Texas-based company created to give our investors the opportunity to achieve a completely passive income from investment in cryptocurrency mining,” the website’s front page details. The website advertises: You will get ...