Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Plena Smart Wallet, which is one of the first self-custodial wallets to support Account Abstraction is thrilled to unveil its hotly anticipated referral program that offers rewards worth up to $1,000,000 in $Plena tokens. The program aims to incentivize users to invite their friends and family to join the platform while offering them a chance to earn some significant rewards. The rules are fairly simple and straightforward. To participate in the program, users simply need to share their referral link with their friends and family. Once a new user downloads the app and signs up through their referral link & successfully completes 3 Transactions on the Fantom chain , both the referring user and the new user will be earning 50 points each. Existing customers can make as many referrals as they like but they must be a new Plena App customer. This means that the more friends and family members you refer, the higher your chances of winning a significant reward. The ...

Lego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering new digital markets. Lego to Present Digital World Initiative Lego, the interlocking toy brick company, is preparing to present details of a metaverse initiative built in partnership with Epic Games, the company behind Fortnite, according to the Financial Times. The move would clarify the future actions of the company toward establishing a presence in virtual worlds, targeting users in digital markets. The company’s strategy is to continue growing by offering Lego products in such markets, helping users recognize the brand even online. Niels Christiansen, CEO of Lego, talked about the journey the company is taking to reach this new target. Christiansen...

Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed out “the fundamental flaw in central bankers’ and most economists’ approach.” Media Mogul Steve Forbes Warns About Fed Policies Steve Forbes, chairman of Forbes Media, warned on Thursday that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy. His warning followed Fed Chair Jerome Powell’s testimony before the Senate Committee on Banking, Housing, and Urban Affairs. “Federal Reserve Chairman Jerome Powell sent financial markets reeling when he told a Senate hearing Tuesday that our central bank is ready to push up interest rates higher and at a faster pace than previously anticipated,” Forbes began. The media mogul noted that Powell’s reason was that the U.S. economy “has been show...

Bitcoin continued to trade lower on March 9, as prices fell to a fresh multi-week low in today’s session. The decline came as crypto bank Silvergate confirmed that it will be winding down operations. Ethereum also edged lower. Bitcoin Bitcoin ( BTC ) fell for a fourth straight session on Thursday, as markets reacted to news that Silvergate Bank will be liquidating its operations. Following a high of $22,198.90 on Wednesday, BTC /USD slipped to an intraday low of $21,609.99 earlier today. The decline in price pushed bitcoin to its lowest point since February 13, when it traded at a bottom of $21,366. Looking at the chart, this latest sell-off coincided with the 14-day relative strength index (RSI) falling to its lowest point since November 28. As of writing, the index is tracking at 36.86, which is marginally below its support point at 37.00. Despite this, BTC remains above its own floor at $21,600, and should this zone hold steady, there is a chance prices could rebound headin...

According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million was lost. Although losses relating to crypto scams only constituted just over 10% of the nearly 23,000 reported technology crimes, they still accounted for more than half of the $407.7 million that was lost to online fraudsters. Crypto-Related Scams Constitute Just Over 10% of Reported Technology Crimes Hong Kong residents reportedly incurred cryptocurrency-related scam losses totaling $216.6 million (HK$1.7 billion), just over half of the $407.7 million that was lost to online scammers in 2022, a report has said. The more-than-double increase in crypto scam-related losses followed a 67% jump in the number of victims from 1,397 reported cases in 2021 to 2,336 by the end of last year. However, according to the data reportedly shared by Hong Kong law enforcement, crypto scam-related crimes constituted just over 10% of the nearly 23,000 technology crimes that we...

Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency Fraudsters have been sending emails to Russian residents claiming to be writing on behalf of a regulatory body about the upcoming launch of “the Russian state cryptocurrency,” the Tass news agency reported , quoting Kaspersky Lab. “With such messages, attackers lure users to resources where they risk losing money,” the cybersecurity firm explained. Several thousands of these letters had been sent by the end of February, the anti-virus provider revealed. The fraudulent emails claim that Russia is preparing to introduce a state-issued crypto and encourage recipients to follow a link to the website of the investment program for the co...

According to Fortune Business Insights, the global blockchain retail market size is expected to surge from the $172.2 million recorded in 2021 to over $2 billion by 2028. Both the demand for the product by end-users as well as the growing use of the technology in supply chain management are expected to sustain the market’s projected compound annual growth rate (CAGR) of 42.8%. Inherent Benefits of Blockchain The value of the global blockchain retail market size is expected to grow from the $172.2 million recorded in 2021 to over $2 billion by 2028, a study by the market research firm Fortune Business Insights has found. In a report titled “Blockchain in Retail Market Forecast, 2023-2028,” the research firm also revealed that the CAGR during this period is expected to top 42.8%. According to a part of the research firm’s March 10 press statement highlighting the likely drivers of demand for the technology, Fortune Business Insights analysts argue that the “surging demand for the pr...