Bitcoin News and Finance: What You Need to Know

Moscow expects the number of leaders participating in the 2024 BRICS summit to be greater than five, according to a high-ranking Russian diplomat. The statement comes as the five-member organization prepares to discuss its enlargement at its meeting at the top this year, with dozens of nations showing interest or formally applying to join it. Russia Signals Openness to Accepting New Members in the BRICS Bloc The Russian government believes the number of participants in the next year’s BRICS summit will not be limited to the current five members, Russia’s Deputy Foreign Minister Sergey Ryabkov was quoted as saying by the Tass news agency. In 2024, Russia will chair the BRICS group of developing economies (Brazil, Russia, India, China, and South Africa) and host its highest level forum in Kazan, the capital city of its Republic of Tatarstan, Ryabkov reminded. Speaking to reports he elaborated: Let’s see what the coming months will bring in terms of defining the parameters of BRICS ...

PRESS RELEASE. LBank Labs is delighted to announce its collaboration with the Seoul Metropolitan Government in hosting the highly anticipated Seoul Web3 Festival 2023 (SWF 2023) in late July. With the participation of prominent figures from the blockchain and Web3 industry, the event promises to be a momentous occasion for numerous Web3 companies to converge, fostering an environment of knowledge exchange, synergy creation, and the exploration of groundbreaking ideas. Notably, the esteemed presence of Seoul Mayor Oh Se-hoon and the Digital Chief further underscores their commitment to supporting the immense potential of the Web3 industry. Under the auspices of the Seoul Metropolitan Government, the Seoul Web3 Festival 2023 will feature a diverse range of experiences and opportunities for its participants. The event lineup will encompass an exciting hackathon, a startup demo day, a networking party, an NFT exhibition, and an insightful forum, providing attendees with a holistic and e...

Worldcoin, the decentralized ID and wallet protocol, has migrated its operations to Optimism, an Ethereum L2 scaling layer. With this move, Worldcoin aims to prepare for its future launch, taking advantage of the scalability features that its deployment on Optimism brings, including migrating user accounts and bringing Uniswap support to the World App. Worldcoin Migrates Protocol to Optimism Mainnet Worldcoin, the biometric decentralized identity and wallet protocol, has announced it has completed the migration process to switch its operations from Polygon to Optimism, an Ethereum L2 scaling layer. In February, the protocol decided to migrate its World App and World ID apps to Optimism, stating it was “committed to realizing a scalable, inclusive future that unlocks the full potential of crypto and furthers the evolution of identity on the blockchain.” This migration comprehends the creation of bridges for the World ID protocol from Ethereum to Polygon and Optimism. Also, most ...

Mark Cuban, a Shark Tank star and owner of the NBA team Dallas Mavericks, has weighed in on the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP . “The current mission of the SEC is not to protect small investors,” the billionaire asserted. “Their goal is to litigate. And litigate more. And litigate more.” Mark Cuban Weighs in on SEC v. Ripple Case Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, has shared his thoughts on Twitter concerning the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP . Commenting on the SEC’s filing in the lawsuit against Terraform Labs and co-founder Do Kwon, where the regulator alleged that the Ripple ruling was “ wrongly decided ,” Cuban criticized the securities watchdog for referring to “every buyer as an investor in their filing.” The billionaire argued: That’s not the case and Ripple made that clear. Securities have one purpose, to be a security. For a defi or CEX buye...

A lawyer has provided insights into the potential outcomes if the U.S. Securities and Exchange Commission (SEC) decides to appeal the Ripple ruling regarding XRP . Despite the securities regulator’s indication to appeal the ruling, the lawyer emphasized that “There isn’t an immediate right to an appeal.” He pointed out that if the case is appealed, it will take two years before a decision is issued by an appellate court. Lawyer Discusses SEC Appeal of Ripple Ruling Following the recent ruling in the U.S. Securities and Exchange Commission (SEC) v. Ripple case concerning XRP , speculations arise that the securities regulator might appeal the decision made by District Judge Analisa Torres. John E. Deaton, a well-known lawyer in the XRP community, has provided his analysis and insights regarding the potential outcomes of the SEC’s appeal. An “appeal is not even close to be a setback” for XRP , he tweeted on Saturday, elaborating: It will be two years from now before a decision is ...

With just a four-day window to go, the U.S. Federal Reserve appears primed to raise the federal funds rate by 25-basis-points (bps) at the forthcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday. The market presently maintains the conviction that this quarter-point uptick is inevitable, and a group of 106 economists, according to a poll conducted by Reuters, are of the view that this will signify the concluding escalation of the ongoing tightening cycle. Former Fed Chair Ben Bernanke and Polled Economists Echo Anticipation of Final Federal Rate Hike This Wednesday, all eyes are on the U.S. central bank as it stands on the threshold of a potential 25bps boost to the pivotal bank rate, pushing it to hover within the 5.25%-5.50% spectrum. The market has preemptively accepted the likelihood of this quarter-point advancement. To illustrate, data from CME Group’s Fedwatch tool as of Saturday, July 22, 2023, signals a near-certain 99.2% probability of this 25bps e...

Financial megalith Blackrock’s bitcoin exchange-traded fund (ETF) application has now been accepted by the U.S. Securities and Exchange Commission, and added to the regulator’s docket. In related news, a former official from the SEC has said the recent ruling on XRP from the SEC v. Ripple case “resides on shaky ground” and is likely to be reversed. This and much more just below, in the latest Bitcoin.com News Week in Review. SEC Accepts Blackrock’s Bitcoin ETF Application The U.S. Securities and Exchange Commission (SEC) has accepted the application for a bitcoin exchange-traded fund (ETF) filed by asset manager Blackrock. The move indicates the regulator is preparing to seriously consider a bitcoin ETF and could eventually set the stage for wider adoption of crypto assets and products. Read More Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever but Doubts Chinese Yuan Can Replace USD Nobel Prize-winning economist Paul Krugman says the U.S. dollar’s domin...

Copy trading has disrupted the crypto industry and is increasingly the trading strategy preferred by less experienced traders says Gracy Chen, managing director of the crypto trading platform Bitget. While copy trading is gaining popularity globally, traders and prospective users from Africa appear more interested in the strategy than those from other regions. Africa-Based Users More Interested in Copy Trading According to Gracy Chen, the managing director of the crypto derivatives and copy trading platform Bitget, copying trading is a trading strategy which has not only “disrupted the crypto industry” but has become increasingly more popular with novice traders. She added that for some cases, copy trading has proven to be an effective strategy during the so-called “crypto winter.” To support such assertions about this portfolio management strategy, Chen made reference to a report highlighting the “300% growth in copy trading adoption in the last 24 months.” As the report (which r...