Bitcoin News and Finance: What You Need to Know

Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds. Blockfi Advances on Client Asset Reimbursement Following Chapter 11 Plan Approval With over 90% of voting creditors approving the plan, Blockfi expressed optimism about providing client recoveries relatively quickly compared to similar crypto bankruptcies. The plan confirmation comes after Blockfi originally filed for bankruptcy protection in November 2022, amid the broader crypto market downturn. Under the approved plan, Blockfi will first distribute the remaining digital assets back to clients with funds in Blockfi Wallet accounts. The company will then make an initial distribution to clients with funds in Blockfi Interest Accounts (BIAs) and retail crypto-backed loans. “Over the coming months, you will receive an e...

Bitcoin.com, one of the world’s leading cryptocurrency wallet developers and news portals, has partnered with the Busan International Film Festival as a major sponsor. The Busan International Film Festival (BIFF), held annually in South Korea, is one of the most significant film festivals in all of Asia. By sponsoring the event Bitcoin.com seeks to support artistic endeavors and reach new audiences. The 28th Busan International Film Festival will take place on October 4-13, 2023 at the Busan Cinema Center in Busan, South Korea. The festival will showcase the best of Asian cinema and feature various events and programs, such as master classes, open talks, hand-printing ceremonies, and awards ceremonies. The opening film will be Because I Hate Korea by Jang Kun-jae, and the closing film will be The Movie Emperor by Ning Hao. The festival will also honor Hong Kong star Chow Yun-fat with the Asian Filmmaker of the Year award. You can find more information about the festival on its offici...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has explained why the securities regulator is taking a litigation-heavy strategy to regulate the crypto industry. The SEC chair insisted that enforcement actions against crypto firms are not brought with a political agenda, emphasizing that he is protecting the American public. “This is a field where the American public is at risk and being harmed every day on these platforms that are commingling and often trading against their customers,” he cautioned. Gensler Reveals Why SEC Focuses on Litigation in Regulating Crypto The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified before the House Financial Services Committee on Wednesday. During the hearing, several members of Congress raised questions about cryptocurrency and the regulation of crypto tokens. Congressman John Rose (R-TN) asked Gensler: “Regarding cryptocurrencies … I’m interested in why you have pursued a litigation-hea...

The U.S. Securities and Exchange Commission’s former head of internet enforcement says former U.S. President Donald Trump’s anti-crypto stance may change dramatically . He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, at a minimum, approve a bitcoin exchange-traded fund (ETF) and “may even slow down considerably SEC crypto-related enforcement efforts.” Former SEC Official on Donald Trump’s Anti-Crypto Stance Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has argued that former President Donald Trump could “dramatically” change his position on cryptocurrencies. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. Trump is running for president in 2024. “Former President Trump is on record as being strongly anti-bitcoin and anti-c...

Rich Dad Poor Dad author Robert Kiyosaki has predicted that bitcoin will “become priceless” when the Federal Reserve launches a central bank digital currency (CBDC). He warned that privacy will be destroyed, emphasizing that “Big Brother will be watching.” The famous author urged investors to start accumulating bitcoin now “before it’s too late.” Robert Kiyosaki’s CBDC Warning, Urges Investors to Start Saving Bitcoin Now The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned about the risks of the Fed launching a central bank digital currency (CBDC). 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. Kiyosaki explained in a post on social media platform X Friday that the Federal Reserve’s central bank digital currency is coming and when that happens, privacy will be gone. “B...

In the wake of the U.S. Securities and Exchange Commission’s (SEC) call to depose Terraform Labs creator and former CEO Do Kwon, the SEC unveiled an alleged exchange between him and his former associate Daniel Shin. The ex-Terra boss reportedly claimed he could fabricate transactions on the Terra blockchain to render them authentic and accrue fees, further penning that he could strive to render the doctored transactions “indiscernible.” ‘I Can Just Create Fake Transactions’ — SEC Publishes Leaked Chat Between Kwon and Shin Court filings submitted by the SEC show a purported conversation between the Terraform Labs founder and former CEO Do Kwon and his business partner the former CEO of Chai, Daniel Shin . “Kwon perpetrated a scheme to fabricate Chai transactions on the Terraform blockchain to make it appear more active, all to dupe investors,” the SEC filing claims. The U.S. securities regulator added: For instance, in an extensive private chat between Kwon and Daniel Shin2 duri...

The Hashgraph Association and Dar Blockchain recently said they will be working “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” The two entities said they hope to achieve the set objectives via meetups, hackathons, and university groups. Shaping the MENA Region Technology Landscape The Hashgraph Association, a non-profit organisation promoting the use and adoption of the Hedera network, recently said it had entered into a partnership with the Tunisia-based Dar Blockchain. Through this collaboration, Hashgraph Association and Dar Blockchain said they hope “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” According to a press statement, the two entities hope to achieve the set objective via meetups, hackathons, and university groups. In addition, the two groups said they will be publishing a monthly podcast. Commenting on their orga...