Bitcoin News and Finance: What You Need to Know

Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka (CBSL) issued a notice last week, warning the public of “the significant risks associated with using and investing in cryptocurrency.” The Sri Lankan monetary authority explained that it recently received complaints showing that “members of the public have incurred heavy losses on their crypto investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.” Referencing its previous warnings from 2018 to 2022 about financial, operational, legal, and security risks related to cryptocurrency, the central bank stated, “These risks and concerns have already materialized with the recent failu...

Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely monitoring the banking industry. Yellen insisted that “matters are stabilizing” and the Treasury was “not willing to allow contagious [bank] runs to develop” in the United States. Treasury Secretary Yellen Addresses Recent Bank Failures and Emphasizes Stability in the U.S. Banking System U.S. Treasury secretary Janet Yellen recently spoke at Yale University, and following the event, she made statements to reporters. Yellen discussed the recent issues within the U.S. banking industry and touched on the decision made over the weekend by Saudi Arabia and OPEC to cut oil production . Reporters asked Yellen about the impact the decision might have on oil prices. “I think it’s regrettable that OPE...

As Ripple and the U.S. Securities and Exchange Commission (SEC) persist in their legal dispute over XRP ’s classification as a security, the consequences for both parties and the wider cryptocurrency market cannot be understated. This case offers a unique opportunity to attain much-needed regulatory clarity, which could ultimately promote growth and stability throughout the sector. Ripple should embrace this prospect wholeheartedly. The following opinion editorial was written by Joseph Collement , General Counsel at Bitcoin.com. Recent events, such as a rise in XRP ’s value and an increase in open interest in the futures market, indicate mounting optimism about Ripple’s chances of triumphing in its lawsuit against the SEC. This positive sentiment is fueled by the anticipation that a Ripple victory could solidify XRP ’s legal status in the U.S. market, prompting further price surges and potentially sparking an “alt season” where alternative cryptocurrencies outperform Bitcoin and Eth...

PRESS RELEASE. ProBit Global, a top 20 cryptocurrency exchange, looks forward to continued success in launching exciting and promising crypto projects through its IEO platform, while providing its users with unparalleled profit opportunities. ProBit Global remains buoyant on Initial Exchange Offerings While the past few years have seen significant challenges in the cryptocurrency IEO space, ProBit Global has shown no signs of slowing down as the exchange aims to offer its customers and users outstanding value when it comes to budding blockchain-based projects. Since 2019, ProBit Global has built a wealth of experience in creating and tailoring Initial Exchange Offerings, successfully running over 400 rounds of IEO. For clients looking to launch their blockchain projects, ProBit Global’s proven record of IEO fundraising can provide the impetus needed to reach their development goals. For users on the ProBit Global exchange, IEOs continue to offer affordable entry points into excit...

Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once “a substantial amount of liquidity needed to facilitate efficient trading” is in place. Defi’s Perceived Lack of Regulation a Barrier to Adoption In addition, Stuber, whose firm uses the Polkadot blockchain to bring fiat networks to the decentralized finance ecosystem, suggested increased education and awareness as the other ways defi proponents can bring traditional financial institutions on board. The Pendulum CTO also shared his views on central bank digital currencies (CBDCs), and their benefits and likely risks to defi. In written responses sent to Bitcoin.com News Stuber also explained why the integration of CBDCs into defi systems is so...

Egon von Greyerz, market analyst and founder of Matterhorn Asset Management, is predicting the collapse of the central bank system in the next few years due to an increasing issuance of currency and debt. Von Greyerz states that in the face of an economy with no buyers, the only hedge will be tangible assets, including gold and silver. The Collapse of ‘Everything’ Egon von Greyerz, the founder of Matterhorn Asset Management, has recently expressed his worries about the situation of the central banking system in an article titled “The Everything Collapse,” where he details how the economy could collapse in the coming years, calling for people to hedge their savings in gold and silver. Von Greyerz states that the current macroeconomic problems are derived from the uncontrolled issuance of fiat money and debt, manipulated by the movements of central banks. He believes that the 2008 market collapse, the subprime mortgage crisis, the wild swing in the rates of treasuries, and the infl...