Bitcoin News and Finance: What You Need to Know

Nvidia, a graphics processing unit and artificial intelligence (AI) company, believes that 2023 could mark the start of a metaverse-driven age in the automotive industry. As part of this new conception, automotive companies will start to include metaverse tech and implement it in their industrial and retail operations. Nvidia Believes Metaverse Tech Will Be Part of Automotive Industry in 2023 Nvidia, one of the largest AI and graphics companies in the world, predicts that 2023 will be the year in which many automotive companies start integrating their operations with the metaverse. The company believes there are two different ways in which this integration will be done. First, the implementation of metaverse tools will allow companies to monitor the whole production process of their vehicles, allowing them to propose improvements. This is possible thanks to the inclusion of “digital twins” in the factories where these cars are being built. The design processes will also benefit f

Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. “I would give anything to be able to do that. And I’m going to try if I can,” he said. SBF Wants to Start a New Business Sam Bankman-Fried (SBF), former CEO of the collapsed crypto exchange FTX, was asked in an interview with the BBC, published Saturday, whether he planned to start a new business venture to earn the money to pay FTX investors and customers back. The former FTX boss replied: I would give anything to be able to do that. And I’m going to try if I can. He added: “I’m going to be thinking about how we can help the world and if users haven’t gotten much back, I’m going to be thinking about what I can do for them. And I think at the very least I have a duty to FTX users to do right by them as best as I can.” FTX filed for bankruptcy on Nov. 11 and an estimated one million customers and investors lost billions of dollars in t

Disgraced FTX co-founder Sam Bankman-Fried (SBF) has been arrested in The Bahamas, according to local reports citing the country’s attorney general Ryan Pinder. According to Pinder, SBF’s arrest “followed receipt of formal notification from the United States that it has filed criminal charges against SBF and is likely to request his extradition.” **Editor’s note: This article’s final paragraph was updated at 8:10 p.m. (ET) on Dec. 12, 2022, to reflect a report from the New York Times that says Southern District of New York prosecutors confirmed SBF had been charged. FTX Co-Founder Sam Bankman-Fried Is in Custody in The Bahamas Following the collapse of FTX and Alameda Research last month and the bankruptcy filing on Nov. 11, 2022, Sam Bankman-Fried (SBF) has been arrested. On Dec. 12, 2022, The Tribune reported that attorney general (AG) Ryan Pinder disclosed the news to the press. The news follows the Bahamian AG insisting that FTX was subject of an “active and ongoing investig

On Dec. 9, 2022, Twitter’s owner Elon Musk told the public that the social media company plans to purge 1.5 billion accounts. Musk further added that the deletions would be obvious accounts that have no tweets or they haven’t logged in for years. However, after Musk announced this plan, a great number of cryptocurrency proponents have grown concerned that Hal Finney’s account would be among the purged names. Finney, who passed away in Aug. 2014, was the first to mention bitcoin in a tweet on the public forum. Bitcoiners Ask Twitter’s Elon Musk to Preserve Computer Scientist Hal Finney’s Twitter Account Cryptocurrency supporters have been worried that computer scientist Hal Finney’s Twitter account will get deleted. The reason people have been fretful about the deletion of Finney’s account is because Elon Musk said Twitter plans to delete 1.5 billion inactive accounts. “Twitter will soon start freeing the name space of 1.5 billion accounts,” Musk wrote on Dec. 9, 2022. “These are ob

Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits. Bybit to Limit Services for Traders Who Have Not Passed Identity Verification Crypto exchange Bybit will restrict some services that are currently available to users who are yet to pass its verification procedure. The crypto trading platform, one of the largest with global reach, announced the enhanced KYC requirements on Thursday and later adjusted the timeframe for their implementation. Verification is now needed to access the Bybit Launchpad and use Earn products. Passing individual KYC will be compulsory for acquiring crypto through fiat deposits, peer-to-peer (P2P) trading and the One-Click Buy option starting from Dec. 15, 2022. On the same date, identity verification will become mandatory for clients who wan

Ben Bernanke, former chairman of the Federal Reserve and also the winner of the 2022 Nobel Prize in economics, has recently blasted the concept of cryptocurrencies. In an interview with Dagens Nyheter, one of the biggest Swedish journals, Bernanke remarked that cryptocurrencies have not proven they have any economic value at all. Ben Bernanke Blasts Crypto The demise of certain cryptocurrency companies like FTX, which was one of the largest cryptocurrency exchanges, and also crypto lenders such as Celsius and Blockfi, has made analysts reassess the real contribution that cryptocurrencies have on the field of economics. Ben Bernanke, one of the most renowned economists and co-winner of the 2022 Nobel Prize in economics for his research on banks and financial crises, recently stated his opinion on cryptocurrency in the wake of the current situation the market is facing. In an interview published by the Swedish journal Dagens Nyheter on Dec. 7, Bernanke stated he does not think cry

Several small investors have manifested that the constant blackouts in several parts of Cuba have made cryptocurrency mining unsustainable, leaving them unable to operate their rigs. The blackouts also affect telecommunications, leaving some of these operations that rely on off-grid power plants without the internet needed to complete mining tasks. Cryptocurrency Mining in Cuba Not Feasible Under Current Conditions Cryptocurrency has reached a notable level of functionality in Cuba, as citizens use it as an alternative to getting services that they would be unable to get otherwise, including international shopping, mobile and internet top-up services, and even sending and receiving remittances. However, cryptocurrency mining is facing problems to reach the same level of popularity. While crypto mining was once considered a smart investment by Cubans, this idea has been demolished by the current state of the Cuban power grid, which puts mining operations in jeopardy due to the cons