Bitcoin News and Finance: What You Need to Know

Digital asset exchange Binance has agreed to help Georgia to develop its cryptocurrency sector by launching educational and other blockchain initiatives. The leading coin trading platform has been expanding its presence in the region with similar projects in other countries. Binance and Georgian Tech Agency to Jointly Develop Country’s Crypto Economy The world’s largest cryptocurrency exchange, Binance, announced the signing of a memorandum of understanding with Georgia’s Agency for Innovation and Technology ( GITA ). The sides intend to work together on the implementation of educational and community initiatives in the blockchain space and the further development of the nation’s crypto industry. The agreement comes after a meeting between the trading platform’s CEO Changpeng Zhao and Prime Minister Irakli Garibashvili in November, during which investments were also discussed. The cooperation will cover projects by both Binance Academy and Binance Charity as well as organizing loca...

Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire investor and venture capitalist Tim Draper reportedly tried to convince the Sri Lankan government and central bank to adopt bitcoin during his visit to the south Asian country earlier this week to shoot an episode of his “Meet the Drapers” TV show with local entrepreneurs. The billionaire met with Sri Lankan President Ranil Wickremesinghe Tuesday to pitch bitcoin adoption, Bloomberg reported, adding that he then visited the Sri Lankan central bank the next day with the same pitch. Wearing a bitcoin tie, Draper was quoted as saying: “I come to the central bank with decentralized currency.” However, Sri Lankan Central Bank Governor Nanda...

Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, says it’s “amazing” what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that “we are in a world in which money as we know it is in jeopardy.” Billionaire Ray Dalio on Bitcoin Billionaire investor and hedge fund manager Ray Dalio, who founded the world’s largest hedge fund, Bridgewater Associates, and previously served as its co-chief investment officer, has offered his view on bitcoin in an interview with CNBC Thursday. Referring to the world’s largest cryptocurrency, he said: I think it’s been quite amazing that for 12 years it’s accomplished … But I think it has no relation to anything … It’s a tiny thing that gets disproportionate attention. Noting that bitcoin’s total market value is less than a third of Microsoft’s stock, whose market cap stood at $1.92 trillion on ...

Ethereum continued to trade close to a key resistance level of $1,700 on Saturday, following Friday’s U.S. non-farm payrolls (NFP) report. Yesterday’s report showed that 517,000 jobs were added to the U.S. economy in January, better than the 185,000 many were expecting. Bitcoin mostly consolidated however, as traders moved to take recent profits. Bitcoin Bitcoin ( BTC ) moved lower to start the weekend, as traders continued to secure gains following a recent climb to a six-month high. Following a high of $23,678.10 on Friday, BTC /USD fell to an intraday low of $23,279.96 earlier in Saturday’s session. Today’s decline sees bitcoin fall for a third straight day, and comes following Thursday’s high of $24,262, which was BTC ’s highest point since early-August last year. As a result of recent declines, bitcoin’s 14-day relative strength index (RSI) is now tracking at 68.41. This is marginally above a point of support at 68.00, which is a level that has not been broken since January...

Egyptian fintech MNT-Halan announced on Feb. 1 that it had raised over $340 million via debt and equity and it expects to raise an additional $60 million from leading international investors. The latest funding round sees MNT-Halan’s valuation rise to over $1 billion which reportedly makes it the country’s “only private billion-dollar company.” ‘Egypt’s Greatest Fintech Success Story’ MNT-Halan, an Egyptian fintech serving the country’s unbanked population, announced on Feb. 1 that it had raised close to $ 340 million via debt and equity financing. The fintech also said it is “in the advanced stages with leading international investors to raise $60 million of primary capital.” This will bring the total capital secured to over $400 million. At the completion of this funding round, MNT-Halan’s valuation will subsequently rise to over $1 billion, the fintech said. According to a statement , Chimera Abu Dhabi, a private investment firm that oversees a portfolio consisting of listed and...

Samsung, the Korean electronics company, has revealed it is working to build its own metaverse and extended reality devices, hinting at the possibility of the launch of a VR headset in the near future. TM Roh, head of Samsung mobile experiences business, stated that the device will be built in partnership with Google and Qualcomm. Samsung to Enter the Metaverse Hardware Business Samsung, the Korean mobile company, revealed it will be joining the market of metaverse and VR (virtual reality) headsets soon. The company announced that it is already working on what it calls “extended reality” hardware, hinting at the production of a VR headset. TM Roh, Head of Samsung mobile experiences business, confirmed that such a device is in the works, but did not offer a launch window for the hardware. However, he reported the involvement of Qualcomm, the fabless chip maker, and Google, as partners. On Feb. 1, Roh told The Washington Post: Many different companies … have been making these anno...