Bitcoin News and Finance: What You Need to Know

The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests for Digital Real Imminent Brazil is making strides in developing its central bank digital currency (CBDC), and the design of its architecture. Roberto Campos Neto, president of the Central Bank of Brazil, recently detailed the advances that the institution has made in building the foundation for the operation of the proposed digital real currency. In a conference organized by Brazilian bank BTG Pactual, Campos Neto stated that the pilot tests for the digital real would be starting ”now,” and that the project was receiving significant assistance from private banks. Campos Neto estimates that the full development route for the project should be ready for December 2

Crypto exchanges Binance and Huobi have frozen cryptocurrencies worth approximately $1.4 million linked to North Korea, according to blockchain analytics firm Elliptic. The firm noted that the stolen funds, which were dormant until recently, originated from the June 2022 hack of Harmony’s Horizon Bridge. North Korea-Linked Crypto Frozen by Binance and Huobi Blockchain analytics firm Elliptic said Tuesday that it has collaborated with cryptocurrency exchanges Binance and Huobi “to freeze Lazarus Group hack proceeds.” Elliptic wrote: Crypto exchanges Binance and Huobi today froze accounts containing approximately $1.4 million in cryptoassets originating from the June 2022 hack of Harmony’s Horizon Bridge. “The Horizon cross-chain bridge was attacked on June 24th 2022, resulting in the loss of $99.6 million in cryptoassets. These funds were then laundered through the now-sanctioned Tornado Cash,” the blockchain analytics firm detailed. Ethereum mixer Tornado Cash was banned last

Famous actor Keanu Reeves says dismissing crypto or criticizing its volatility will only “make it better in terms of how it’s safeguarded.” The Matrix star added that the principle and ideas behind an independent currency are “amazing.” Keanu Reeves Praises Crypto Famous actor Keanu Reeves talked about cryptocurrency in an interview with Wired, published Tuesday. The Matrix and John Wick star opined: I think the principle, the ideas behind an independent currency are amazing. These are amazing tools for exchanges and distribution of resources. “So, to pooh-pooh crypto, or the volatility of cryptocurrency, it’s only going to make it better in terms of how it’s safeguarded,” he added without providing further details. The Hollywood star previously revealed that he owned cryptocurrency. “A friend of mine bought some for me a while back,” he said in December 2021, adding that he had not done anything with it. Reeves, NFTs, and the Metaverse Reeves also explained how he became an

Galaxy Digital CEO Mike Novogratz says he wouldn’t be surprised if the price of bitcoin returns to $30,000 next month. “When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn’t surprise me,” the executive shared. Bitcoin Could Return to $30,000 in Q1, Says Novogratz Galaxy Digital CEO Mike Novogratz shared his bitcoin price outlook Wednesday at a Bank of America conference. The longtime bitcoin advocate believes that BTC could return to $30,000 by the end of next month. He said: When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn’t surprise me if we were at $30,000 by the end of the quarter. “I would’ve given both my shoes for that to be true just six weeks ago,” he added, noting that it would’ve made him “the happiest guy” if BTC ended 2022 at $30,000. The Galaxy Digital CEO was previously more bull

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in unregistered transactions. SEC Charges Terra’s Do Kwon and Terraform Labs With Defrauding Investors Nine months after the entire Terra blockchain ecosystem collapsed, the U.S. Securities and Exchange Commission (SEC) charged the Singaporean company Terraform Labs Pte. Ltd. and the firm’s CEO, Do Kwon . The SEC detailed on Thursday that Terraform and Kwon raised billions from venture capitalists and created a suite of unregistered securities and mirrored assets that replicated the value of U.S. stocks. The government’s complaint also mentions the now-defunct UST algorithmic stablecoin. The regulato

Digital asset infrastructure provider Taurus has secured millions of U.S. dollars in investment from major banking institutions. The successful funding round comes in the aftermath of negative developments in the crypto space, indicating that large players from traditional finance remain engaged with the market despite its woes. Credit Suisse, Deutsche Bank Invest in Digital Asset Firm Taurus Amid Ongoing Crypto Winter Swiss crypto company Taurus SA has raised $65 million in a Series B funding round led by the banking giant Credit Suisse. Three other major financial institutions — Deutsche Bank, Pictet Group, Arab Bank Switzerland — and the real-estate group Investis have also taken part. Taurus, a leading digital asset infrastructure provider for financial institutions in Europe, said it will continue to invest in the further development of its platform offering services related to cryptocurrencies, other digital assets and tokenized securities, including by hiring top engineering

When Gary Gensler (ex-Goldman Sachs investment banker) was announced as the new head of the Securities and Exchange Commission (SEC) in February 2021, the crypto industry saw a glimpse of hope. After all, the man in charge of regulating the industry was a “crypto native,” having taught a course on the subject at MIT. However, two years later, it’s clear that Gary has been a big letdown for the industry as the SEC failed to identify major frauds and protect investors. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. This should not come as a surprise, as history shows that the SEC is as effective as a screen door on a submarine when it comes to protecting investors. They’re supposed to be the watchdogs of Wall Street, but they’re more like the lapdogs of Wall Street. Take the collapse of Enron in 2001 as an example. The SEC did not formally review the company’s cooked financial statements for at least three years prior to its downfall