Bitcoin News and Finance: What You Need to Know

Crypto security firm and hardware wallet manufacturer, Ledger, announced its integration of Paypal payments for U.S. customers. This will allow Ledger Live users to buy bitcoin ( BTC ), ethereum ( ETH ), bitcoin cash ( BCH ), and litecoin ( LTC ) within the app using Paypal. Ledger Enables Paypal Payments for US Customers to Streamline Crypto Purchases Within App On Wednesday, Ledger revealed Ledger Live users can now purchase BTC , ETH , BCH , and LTC using Paypal. The company believes this offers a “convenient, simple and secure way” to buy digital currencies through its companion application. Users can select Paypal as their payment method in the app’s “buy” section. However, this is available only to users who have previously used Paypal to buy crypto assets. Ledger Live users new to Paypal for crypto “will be required to create a Paypal account or undergo a KYC verification,” according to Ledger. The company directed users to its Help Center for guidance on using Paypal for ...

U.S. lawmakers are probing the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) regarding the “shady approval” of Prometheum “as the first and only special purpose broker-dealer for digital assets.” They raised concerns about the timing and circumstances surrounding the approval, noting that Prometheum has no customers, operational history, and track record. In addition, the lawmakers stressed that the company has ties to the Chinese government. SEC, FINRA Probed Over ‘Shady Approval’ of Prometheum The U.S. House Financial Services Committee announced Tuesday that the committee’s chairman, Patrick McHenry (R-NC), has led Republican committee members in probing the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) regarding the “shady approval” of Prometheum. Referencing the letters dated Aug. 9 that the lawmakers sent to SEC Chair Gary Gensler and FINRA President and CEO Robert Cook, the...

Rich Dad Poor Dad author Robert Kiyosaki has shared his predictions regarding the prices of gold, silver, and bitcoin if the world economy crashes. Emphasizing that the national debt is “too high,” he cautioned that holders of the U.S. dollar will be in trouble. Robert Kiyosaki’s Gold, Silver, Bitcoin Predictions The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his predictions about the price of gold, silver, and bitcoin. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. In a tweet Monday, Kiyosaki explained that while he expects the price of bitcoin to reach $100K in the near term, he believes that it could soar to $1 million while gold will rise to $75K and silver will trade at $60K if the world economy crashes. Noting that he has been saying for years that gold and...

The Nasdaq-listed crypto exchange Coinbase has secured regulatory approval to operate a Futures Commission Merchant (FCM) and offer customers access to crypto futures. “Coinbase will now be the first crypto-native leader to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures,” the exchange detailed. Coinbase Reaches ‘Critical Milestone’ Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Wednesday that it has reached “a critical milestone” by securing regulatory approval to offer crypto futures to eligible U.S. users. The announcement details: Coinbase Financial Markets Inc. has secured regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to operate a Futures Commission Merchant (FCM) and offer eligible U.S. customers access to crypto futures from our platforms. Coinbase filed an application with the NFA in September 2021 to register an FCM. The exchange stated Wednesday...

Crypto exchange FTX founder Sam Bankman-Fried (SBF) spent more than $100 million of customer funds on political donations, according to an amended indictment. On Monday, U.S. federal prosecutors also alleged that he used two FTX executives as “straw donors” to evade contribution limits. Sam Bankman-Fried Gave Money to Both Democrats and Republicans to Ensure FTX Continues to Grow The founder and CEO of bankrupt cryptocurrency exchange FTX , Sam Bankman-Fried, used money stolen from customers of the trading platform to make over $100 million in contributions for political campaigns ahead of the 2022 midterm elections in the U.S., prosecutors said. The government is also accusing SBF of directing two FTX executives to donate to candidates from both the Democratic and the Republican Party in order to evade contribution limits and conceal the origin of the funds, Reuters reported, quoting the indictment against him which also said: He leveraged this influence, in turn, to lobby Congr...

The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore to Require Stablecoin Issuers to Maintain Minimum Base Capital and Liquid Assets Singapore’s central banking institution has finalized its new regulatory framework for stablecoins issued in the country. On Tuesday, the monetary authority said its features seek to ensure a high degree of value stability for the stablecoins it will regulate. MAS emphasized that feedback from the public consultation launched in October 2022 has been taken into account. “Stablecoins are digital payment tokens designed to maintain a constant value against one or more specified fiat currencies,” the regulator noted in a press release and elaborated: When well-regulated to preserve such value stability, stablecoi...

U.S. Congressman Warren Davidson has railed against central bank digital currencies (CBDC), stating that enacting a ban on these instruments is “essential” for the future of the fintech industry in America. Davidson explained that many people wrongly conflate cryptocurrencies with CBDC when these are two different concepts. Congressman Warren Davidson: ‘CBDC Is Evil’ Congressman Warren Davidson has warned about the dangers that issuing a central bank digital currency (CBDC) represents for the financial technology industry in America. Davidson vocally criticized the use of these tools, reaffirming his opposition to CBDC by stating on social media that: At least most agree that CBDC is evil – the financial equivalent of the Death Star. Don’t become an accomplice to anyone designing, building, testing, developing, or establishing CBDC. Davidson, part of the House Financial Services Committee, emphasized that many people wrongly conflated the concept of CBDC with Bitcoin and that b...