Bitcoin News and Finance: What You Need to Know

The Central Bank of Argentina has announced the issuance of a new 2,000 peso bill, aimed at easing the burden of using cash for payments in the country. The bill, which will have a value of a little more than $5 ‘blue’ dollars (the informal exchange rate), is already being criticized as an insufficient measure. Argentine Central Bank Announces 2,000 Peso Bill The Central Bank of Argentina has taken a new measure in its quest for securing the usability of cash as a means of payment in the country. The bank has announced the issuance of a new 2,000 peso bill, which comes to simplify the task of paying with cash for goods and services in the country. The new bill, which doubles the value of the current highest-value bill, is designed to be a stopgap while the central bank increases the use of digital payments rails in a highly inflationary environment. In a press release issued on Feb. 2, the central bank declared : While the payment digitization process progresses, this higher den...

The host of Mad Money, Jim Cramer, says the market has already decided that the Federal Reserve “will tighten and create a recession no matter what.” Cramer also recently said that we are in a bull market, advising investors to buy the dip. Jim Cramer on Recession The host of CNBC’s Mad Money show, Jim Cramer, believes that the market has already decided that the U.S. economy will be in a recession. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Cramer tweeted Monday: It does not take too long for this market to go negative. It’s already re-digested Friday’s news and decided that the Fed will tighten and create a recession no matter what. After a series of 75-basis-point hikes, the Federal Reserve raised its benchmark interest rate by 25 basis points last week. Stocks rallied following the Fed announcement. In addition, new data released Friday by the Bureau of Labor Statistics showed that 517,000 new jobs were added ...

Investment management firm Ark Invest says bitcoin is “likely to scale into a multi-trillion dollar market.” In its new report, the firm offers three bitcoin price predictions, including a bull case where bitcoin could rise to $1.48 million per coin. Ark Invest CEO Cathie Wood sees bitcoin as “an insurance policy for everyone against the confiscation of wealth.” Ark Invest: Bitcoin Price Could Reach $1.48 Million Ark Investment Management (Ark Invest) published its annual Big Ideas 2023 last week. The report “highlights the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow,” Ark Invest’s analysts explained. The topics discussed in the report include artificial intelligence (AI), digital wallets, public blockchains, bitcoin, and smart contract networks. Regarding bitcoin, the Ark Invest analysts wrote: We believe Bitcoin’s long-term opportunity is strengthening. Despite a turbulent year, Bitcoin has not skipped a beat. Its ...

Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting Wednesday. Without providing a reason, a spokesperson for Binance told CNBC: We are temporarily suspending USD bank transfers as of February 8th. Affected customers are being notified directly … We are working hard to restart service as soon as possible. “0.01% of our monthly active users leverage USD bank transfers,” the spokesperson continued, noting that bank transfers using other fiat currencies and other methods of buying and selling cryptocurrencies on Binance, such as using credit cards, Google Pay, and Apple P...

Capitual, a Brazilian fintech company that offers cryptocurrency intermediation services, has partnered with Azimut, an asset management firm, to expand its service offer to Europe. The deal, which contemplates an investment of €15 million (about $16.2 million), would allow Capitual to start operating in Mexico, where Azimut has significant presence and operations. Capitual Gets €15 Million Investment From Azimut Fintech companies serving the cryptocurrency market have started grabbing the attention of more traditional asset management firms. Capitual, a fintech company that serves as a bridge to legacy finance for several crypto exchanges in Brazil, has completed a partnership deal with Azimut, an Italian asset management firm. The deal, which includes an investment of €15 million (about $16.2 million) will allow the company to extend its services to European countries. The expansion would also contemplate Capitual establishing presence in Mexico and offering its services there. C...

A Bulgarian investor has lost a large amount of money to fraudsters who convinced him he was putting cash into cryptocurrency. The scam operated through a call center in what is becoming an established scheme for extracting money from victims lured with promises of quick profits on stock and crypto markets. Defrauded Bulgarian Crypto Investor Sends Money to Bank Accounts Across the World A businessman from Bulgaria has transferred over 1 million leva (more than $550,000) to scammers who suggested he could earn well from crypto assets, according to a report by the Bulgarian national broadcaster, BNT. He was persuaded by a fake consultant to send the amount to accounts at different banks, from Europe to Hong Kong. The investor was initially contacted by a call center operated by the fraudsters offering high yields on crypto investments. This communication went on for a while and they were able to convince him that he would triple his money in no time. When the man expressed interest ...

At the Starkware Sessions 2023 event, held at the Cameri Theatre in Tel Aviv, Israel, Starkware co-founder Eli Ben-Sasson informed the audience that the company intends to open source “key tech” linked to the Starknet Prover. During the event, the co-founder of the Ethereum scaling project stated that this marks a “significant step for scaling Ethereum and cryptography.” Starkware to Open Source Key Component of Ethereum Scaling Project The Ethereum scaling project, Starkware , has declared that the team intends to open source the component of Starknet known as the Starknet Prover. This component generates cryptographic proofs for compressed groups of transactions. Starkware has already open-sourced the project’s software, Papyrus , and the programming language, Cairo 1.0 . The announcement of the open sourcing of the Starknet Prover was made at the Starkware Sessions 2023 conference in Tel Aviv, Israel. At the event, attendees learned about technologies such as storage proofs a...