Bitcoin News and Finance: What You Need to Know

The Lebanese pound’s fall to its lowest ever versus the U.S. dollar, 80,000 to 1, has piled more misery on residents whose local currency-denominated savings have been decimated by inflation. The ongoing strike by banks demanding the passage of capital control legislation has compounded matters for residents. Lebanese Pound Devaluation According to several local media reports, Lebanon’s currency recently plunged to a new all-time low of 80,000 per U.S. dollar on the unofficial foreign exchange market. The Lebanese pound’s fall on the parallel market came less than a month after it was devalued by more than 90% on the official market. Although the currency’s devaluation from 1,507 to 15,000 per dollar was seen as monetary authorities’ attempt to unify the pound’s multiple exchange rates, some experts have argued that the new official exchange rate is pegged way below the rates where most trade takes place. The currency’s latest plunge meanwhile has piled more misery on Lebanese r...

The CEO of crypto exchange Kraken, Jesse Powell, says U.S. regulators “let the bad guys get big and blow up because it serves their agenda.” The executive explained: “Bad guys operate with huge competitive advantages. They suck up users, revenue, and venture capital that would otherwise have gone to good guys.” Kraken’s CEO Has a Theory on U.S. Crypto Regulation The chief executive of cryptocurrency exchange Kraken, Jesse Powell, took to Twitter Sunday to express his opinion regarding crypto regulation in the United States. The executive began: I have a theory: Regulators let the bad guys get big and blow up because it serves their agenda. Powell proceeded to name three goals he believes regulators are trying to achieve. The first is to “destroy capital/resources in [the] crypto ecosystem,” he wrote. The second is to “burn people, [and] deter adoption,” he continued, adding that the third is to “give air cover to attack good actors.” The Kraken boss asserted that for regulators...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that U.S. crypto regulation is “getting very, very aggressive.” Noting that regulators are now “regulating by enforcement, penalties, and massive fines,” O’Leary emphasized the importance of staying out of the way of the SEC, Chair Gary Gensler, and other regulators. Kevin O’Leary Shares Outlook for Crypto Regulation Shark Tank star Kevin O’Leary has shared his outlook for the crypto industry following several enforcement actions by the U.S. Securities and Exchange Commission (SEC). Mr. Wonderful tweeted Monday: Venture funding for new crypto projects is virtually dead and aftermarket trading for existing projects is at massive discounts. Reason? The regulator is now regulating by enforcement, penalties, and massive fines. “The venture community has moved on to the next ‘big’ thing, AI,” he added. O’Leary explained in an interview with Trader TV Live, published Sunday, that following the collapse of cryptocurrency exc...

On Tuesday, all four major U.S. benchmark stock indexes fell as real estate data showed home sales dropped by 0.7% last month and Russian President Vladimir Putin suspended the nuclear arms control treaty with the United States. Additionally, the chief U.S. equity strategist at Morgan Stanley said the stock market is in a “death zone” and could drop another 26%. Investor Fears of a Prolonged Recession Swell, U.S. Tensions With Russia Further Disrupt Global Markets On Tuesday, markets traded lower compared to the previous day as investors have been shaken by the current macroeconomic backdrop. The National Association of Realtors (NAR) published a report on Tuesday showing the U.S. real estate market weakening, with home sales slipping 0.7% in January. The price of gold and silver as well as the crypto economy dropped, with the latter shedding 1.37% over the last 24 hours, down to $1.11 trillion. Stocks followed the same pattern , with all four major stock indexes (DJI, GSPC, IXIC...

Using a solution that is based on blockchain technology, the South African startup Momint has said the recently launched Suncash initiative aims to ease the country’s power generation challenges. For about $9, investors can reportedly buy non-fungible tokens (NFTs) linked to solar cells which are then leased to institutions such as schools and hospitals. Momint Pilots Solution at One Local School A South African startup, Momint, recently said it has launched a blockchain-powered solution that can ease the African country’s energy woes by installing more rooftop solar systems at public institutions like hospitals and schools. According to a News 24 report, the startup’s solution has already been piloted at Delmas High School in South Africa’s Mpumalanga province. As explained in the report , investors that wish to participate in this project can do so by acquiring non-fungible tokens (NFTs) which are linked to solar cells and are sold for a minimum price of just under $9. The solar ...

Edogawa Ward in Tokyo plans to use metaverse tech to help social recluses, also known as “hikikomori,” begin to integrate with society again. The ward will organize a series of hybrid (virtual and in-person) meetings this year with the objective of reuniting people with social reclusion problems and helping them in their reintegration process. Edogawa Ward to Leverage the Metaverse in Hikikomori Reintegration Processes Edogawa Ward, located in Tokyo, announced that it will offer a series of metaverse meetings as part of the reintegration process for social recluses in the area. The meetings will be held in hybrid form, with social recluses having the opportunity of attending in person or online, allowing a safe haven for meeting and talking about their common problems. There will be six of these events in 2023, organized by the Kazoku Hikikomori Japan nonprofit, with a capacity for up to 80 participants, 50 in the metaverse platform, and 30 in the designated venue. The meetings wi...