Bitcoin News and Finance: What You Need to Know

On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the responses were “withheld because of possible law enforcement investigation.” Jacob Silverman Sought ‘Access to All Documents, Emails, Memos, and Reports Related to Tether’ There’s a ton of stablecoins these days and today, all the stablecoins in existence are valued at $129.7 billion . The oldest stablecoin and the largest, in terms of market valuation, tether ( USDT ) commands $69.7 billion of the aggregate total of all stablecoins. This Friday, a staff writer from the publication The New Republic, Jacob Silverman , tweeted that he had filed for a FOIA request concerning “Tether” and “Tether Operations Limited.” Essentially, a Freedom of Information Act (FOIA) request allows

The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies and a darknet market operating in the region. Co-Founder of Suex Fired by MTS Bank, Another Quits Job at Chatex Russian entrepreneur and financial executive Vasily Zhabykin, one of the founders of troubled crypto broker Suex, has been released from his managerial role at MTS Bank, where he headed the innovative Neo bank project, Kommersant reported. Quoting a source familiar with the matter, Russia’s leading business daily added that the dismissal was due to the U.S. sanctions imposed over the platform’s alleged money laundering operations . The news comes after one of Zhabykin’s partners at Suex, co-owner Egor Petukhovsky, announ

While a number of popular crypto-assets like bitcoin have been consolidating, decentralized finance (defi) tokens have captured significant gains during the last 24 hours. A few defi crypto assets have seen double-digit gains and the leader of the pack is Uniswap which has jumped 20.9% in the last 24 hours. Uniswap’s Defi Token Leads the Percentage Gains on Sunday Decentralized finance (defi) tokens are making waves during Sunday’s crypto trading sessions, as a dozen defi tokens have seen better gains than most of today’s well known digital assets. While bitcoin ( BTC ) has risen 2% today and ethereum ( ETH ) is up over 3%, crypto tokens like uniswap (UNI) and sushi (SUSHI) have seen double-digit gains. Uni has jumped over 20% during the last day while SUSHI is up 15.6%. Both UNI and SUSHI are followed by coins like maker ( MKR ) up 11.5%, ftx token (FTT) up 10.6% today, and chainlink (LINK) which has risen 10.3% on Sunday. Uniswap (UNI) has a $12.1 billion market valuation today

Buying a Rolex watch or a Chanel bag with Bitcoins? It becomes possible with LuxFi. With the vision to bridge the gap between real-world luxury assets and digital assets (NFTs), LuxFi has announced the planned launch of its NFT marketplace. The introduction of LuxFi’s marketplace allows everyone to buy, sell and invest in luxury assets through NFTs, with the possibility of using cryptocurrency and traditional payment methods. The phygital world of luxury evolved into an integral part of human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The digital revolution has won over the hearts of consumers worldwide, and the prosperous global luxury market has displayed no signs of stopping soon. LuxFi’s NFT Marketplace LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. The company will launch a platform to assist consumers by

On September 24, 2021, the Fantom Foundation announced the launch of a new non-fungible token (NFT) marketplace that aims to compete with the myriad of NFT markets out there today. The market dubbed Artion is an NFT marketplace built on the Fantom network and claims to bolster “0% commissions, with the near-zero transaction costs.” Fantom Reveals Beta Version of the NFT Marketplace Artion A new NFT marketplace has been announced by the Fantom Foundation following the billions of dollars worth of NFT sales stemming from veteran NFT markets that leverage the Ethereum ( ETH ) network like Opensea, Rarible, and Makersplace. In more recent times, the Ethereum network, due to excessive network fees and transaction congestion, has been losing ground to other blockchains like Avalanche (AVAX), Solana (SOL), Binance Smart Chain (BSC), Terra (LUNA), Tezos ( XTZ ), and more. This includes taking money from decentralized finance (defi) and non-fungible token (NFT) sales as other blockchains a

Authorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations. The breakaway republic of Georgia has been struggling with power shortages blamed on underground miners. 30,000 Rigs Remain in the Hands of Miners, Government Says In recent years, a growing number of people in Abkhazia , a partially-recognized de facto state in the South Caucasus, have turned to cryptocurrency mining as an alternative income source. However, the government of the Russia-backed republic has targeted the energy-intensive process as a major cause of the territory’s growing electricity deficit. A temporary ban on mining activities and hardware imports was introduced back in 2018 and extended this spring until March 31, 2022. But officials in Sukhumi have recently admitted their efforts to impose the restrictions throughout the region have largely proved unsuccessful. At a press confer

MetaWars is a highly immersive multiplayer strategy game. With an infinite universe that is established in a digital metaverse, players can use a wide variety of NFTs to determine the journey they take in-game. MetaWars allows players all around the world to earn through gameplay, “adopting blockchain into the thriving gaming industry”. The Booming Game Industry The global gaming industry market size is flourishing with a staggering 48% on mobile game returns in 2020. With the rising popularity of the gaming industry, investors are searching for blockchain-based games to play-to-earn and experience state-of-the-art innovations. MetaWars hopes to provide a highly addictive NFT gaming experience for everyone to enjoy and gain profits from interactive challenges and quests. Introducing MetaWars MetaWars is a futuristic sci-fi strategy game with a multi-layered, critical tactic battlefield, allowing players to monetize from the game’s war economy. Players can picture themselves in a

Recently a student from the University of Kent in London was robbed at knifepoint for his bitcoin. After eight thugs stormed his dorm room and demanded that he reveal his crypto credentials and passwords, the student was forced to leave the campus and he moved back home. Freshmen College Student Loses Bitcoin in an On-Campus Mugging A recent report shows that a college student who started the year as a freshman was robbed at the University of Kent, a school located in the historic city of Canterbury. The student’s mother details that five days before starting his course, her son started to talk about cryptocurrencies with a friend from the school. “They were just having lads’ talk. [Then] the conversation turned to [finance] and the friend started talking about cyber currency,” the student’s mother explained. After the discussion, the boy’s friend alleges that the student brought eight friends from East London to visit the student’s room and he instantly “knew he was in trouble,”

Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency will do better regulated in a sound way instead of being treated as a libertarian paradise. Larry Summers Sees Crypto Benefiting From Strong Regulation Lawrence Summers, who served as the Secretary of the Treasury in the Clinton administration and director of the White House National Economic Council in the Obama administration, talked about cryptocurrency regulation during an interview with Bloomberg Friday. A former chief economist at the World Bank, Summers is currently Harvard University’s President Emeritus. He was asked why regulators worldwide are “deeply skeptical” about cryptocurrencies. China, for example, has been cracking down on crypto activities. Summers began by stating that the word “crypto” suggests a “desire for secrecy with respect to large financial sums,” elaborating: When you have large financial sums happening in secret, you have risks of money launderi

Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations Without Prohibiting Crypto Transactions The Indonesian government will not follow in the footsteps of China, which has confirmed a ban on all cryptocurrency transactions, the country’s Minister of Trade Muhammad Luthfi emphasized in comments to local media. The official added, however, that the government is looking into how to make them less prone to being used in illegal financial activities. Quoted by Berita Satu and the Jakarta Globe, Luthfi stated: We don’t prohibit it, but we will tighten the regulations. Cryptocurrencies such as bitcoin, ethereum, and dogecoin are currently regarded as assets and commodities in

PRESS RELEASE. LD Capital announced it established a 50 million US dollars FOF towards supporting high-quality blockchain funds worldwide. Besides the financial support, hundreds of the projects invested by LD Capital will be shared as resources to the participated funds with post-investment services such as strategy consulting, market growth, and capital relations to enable the outstanding blockchain projects. LD Capital FOF has invested in well-known global funds like 1kx, Kraken Ventures, Republic, Shima Capital, Big Time Eco-fund, Signum Capital, and Hero Ventures. LD Capital FOF will continue to invest global top tier blockchain funds, reach strategic cooperation with more outstanding funds, enable excellent blockchain projects, and promote the development of the blockchain industry. LD Capital is a leading crypto fund in investment and trading in primary and secondary markets, whose sub-funds include dedicated eco fund, FoF and hedge fund. Owing to industrial resources and p

While Pepe the frog and Doge made it into the limelight with unique and rare non-fungible token (NFT) assets, another NFT meme collection tied to the infamous 2010 meme “Wojak” has entered the fray. A new NFT collection stemming from the web portal called rarewojak.com has leveraged the notorious, old-school meme to release a compilation of Rare Wojak NFTs via the Solana network. Meet the Rare Wojak NFT Collection Wojak is an 11-year-old meme that appeared on the now-defunct imageboard Krautchan and after the picture went viral it could be seen regularly on sites like 4chan. Wojak has a number of variants. The meme is also known as “Feels Guy” as people used to comment “I know that feel bro” after posting the meme. One notable Wojak variant is the “NPC Wojak,” which became a viral visual interpretation of individuals who can’t think for themselves. Alongside “NPC Wojak,” there’s also the “Coomer,” the “Doomer,” and “Soyjak.” Just like Doge and Pepe the frog , Wojak is a popular me

As of September 25, 2021, there’s $129.3 billion worth of stablecoin assets in existence which represents 6.54% of the crypto economy. The second-largest stablecoin by market valuation, USDC, has seen its capitalization increase a great deal, rising more than $10 billion in 125 days. Since May, USDC’s Market Cap Increased by 54% In recent times, Bitcoin.com News has reported on the growth of tether (USDT) as the market capitalization of USDT is near $70 billion today as the supply increased 1,500% in five years. Following that report, our newsdesk reported on the decentralized stablecoin called DAI, which is issued by the Makerdao project. DAI’s market capitalization increased more than 800% in 12 months and today the aggregate total of all the DAI in existence is worth $6 billion. Now the second-largest stablecoin by market capitalization, usd coin (USDC) , just recently grew significantly in a mere four months to $30.9 billion. USDC is issued by the Centre Consortium which is

A U.S. senator has asked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The senator stated that in many enforcement actions, “the SEC did not identify the securities involved or the rationale for their status as securities, which would have provided much-needed public regulatory clarity.” US Senator Wants SEC to Provide Clear Guidance on Crypto Regulation Senator Pat Toomey, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, wrote a letter to SEC Chairman Gary Gensler Friday regarding cryptocurrency regulation. His letter followed Gensler’s testimony before the Senate Banking Committee last week. Toomey began: I write to follow up on the concerns I expressed at the hearing about the need for regulatory clarity around emerging technologies like cryptocurrencies, including stablecoins. Noting that “For investors to benefit from a fair and competitive marketpl

Several U.S. lawmakers see China’s authoritarian crackdown on cryptocurrency, including bitcoin, as “a perfect opportunity for American leadership on cryptocurrency.” One senator noted that it is “a reminder of our huge structural advantage over China.” US Lawmakers Comment on China’s Cryptocurrency Crackdown Following the latest news of China’s crackdown on cryptocurrency, several U.S. lawmakers have shared their views on the situation. Senator Pat Toomey from Pennsylvania said: China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China. “Beijing is so hostile to economic freedom. They cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades,” he added. “Economic liberty leads to faster growth, and ultimately, a higher standard of living for all.” The pro-bitcoin senator from Wyoming, Cynthia Lummis, who has been

A court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto pyramid, remains under detention as well. Finiko Mastermind Doronin Denied House Arrest Vakhitovsky District Court of Kazan, the capital of the Russian republic of Tatarstan, has decided to keep the two most prominent figures of the Finiko crypto pyramid in custody. This week, the court announced it has extended the detention period for Kirill Doronin, who established the Ponzi scheme in December 2018, until Nov. 28. Finiko defrauded hundreds of thousands of investors before it collapsed in July this year when he was arrested. Three lawyers representing Finiko’s founder asked judicial authorities to place Doronin under house arrest, insisting he has to look after his wife, pregnant with their thi

The adoption of bitcoin as legal tender in El Salvador has been one of the biggest events in the cryptocurrency world this year. However, Nayib Bukele, president of the country, has taken a course of action many consider mistaken. In any case, the Bitcoin Law has put Bitcoin in the global spotlight as a potential engine for financial change in the Central American country. Bukele’s Bitcoin Law Barges In When President Nayib Bukele announced he would push to approve a law declaring bitcoin legal tender in El Salvador, he might not have expected to set in motion all of the events that have happened as a consequence of that decision. Be it for people that approve of this decision, or citizens that are not comfortable with it (most Salvadorans, according to some polls), bitcoin has become a part of the political panorama in the country. As such, it is being harnessed by political agents as a very important part of Bukele’s mandate. The irruption of bitcoin, a totally external element,

The Central Bank of Bhutan, the Royal Monetary Authority (RMA), has partnered with Ripple to start testing a model of its central bank digital currency (CBDC) using Ripple’s technology. The test will be using Ripple’s own CBDC private ledger, to support similar use cases. The pilot test will include retail, cross-border and wholesale payments for the proposed CBDC. Bhutan Involves Ripple in CBDC Pilot Test Bhutan, a small country located in the south of Asia, is working on the issuance of a central bank digital currency of its fiat currency, known as the Ngultrum. The nation will be partnering with Ripple, the cryptocurrency and payments company, to pilot test the digital currency in different use cases. The Royal Monetary Authority (RMA), Bhutan’s central bank, will use Ripple’s technology for the tests. This pilot provides yet another example of a country approaching the digital currency world as a way of improving access for citizens to financial services. In this regard, Bhuta

Non-fungible token (NFT) assets have taken the world by storm in 2021 and three current projects in the NFT universe have seen sales stretch into the billions. Statistics show that the NFT marketplace Opensea, the blockchain NFT game Axie Infinity, and the digital collectible series Cryptopunks have collectively captured over $10 billion in sales. Opensea, Axie Infinity, Cryptopunks Crack $10 Billion in Sales As the end of September approaches, the combined sales of three distinct NFT projects have made more than $10 billion in all-time sales. All three projects are unique as well, as the leader in NFT sales, Opensea, is a marketplace that allows users to purchase and sell a wide variety of NFT collectibles from the Ethereum and Polygon networks. To date, Opensea has seen $6.85 billion in total sales among 452,319 traders, according to dappradar.com ’s NFT market stats. Opensea has seen a monthly increase of around 74.26% as it has captured $3.78 billion in sales over the last 30 d

Morgan Stanley Investment Management’s Dennis Lynch, says that bitcoin’s resilience is like Kenny from the popular TV series South Park. In almost every episode, Kenny comically died but always came back, just like how bitcoin bounces back every time after a bear market. Bitcoin Is Similar to Kenny in South Park, Says Morgan Stanley’s Executive Morgan Stanley’s Dennis Lynch talked about bitcoin’s resilience at Morningstar’s annual investment conference Thursday. Lynch is head of the Counterpoint Global team at Morgan Stanley Investment Management, the bank’s asset management arm. He joined Morgan Stanley in 1998 and has 27 years of investment experience. The Morgan Stanley Counterpoint Global team “invests primarily in established and emerging companies globally,” the firm’s website describes. Lynch compared the cryptocurrency’s ability to recover and bounce back from bear markets and massive sell-offs to Kenny, a character from the popular TV cartoon series South Park, stating:

A recent study conducted by the online invoicing company that works with small businesses Skynova explains that the city of Los Angeles (LA) is the “most crypto-friendly city in the United States.” Skynova surveyed close to 600 small business owners and top-level executives from the U.S. in order to get their perception of the cryptocurrency ecosystem. LA Ranks the Most-Friendly Crypto City in Recent Small Business Owners Study According to a research study which leveraged nearly 600 executives and small business owners, LA ranks #1 when it comes to crypto ATMs, and merchant acceptance. The Skynova study called “Accepting Bitcoin,” that attempts to determine the most bitcoin-friendly cities in America today. “32% of small businesses owners and top-level executives said that their business currently accepts cryptocurrencies,” the Skynova researchers detail. Moreover, bitcoin ( BTC ), bitcoin cash ( BCH ), and ethereum ( ETH ) are “the most commonly accepted cryptocurrencies.” “Los

PRESS RELEASE. When people talk about technology, the first thoughts are cell phones, applications, or equipment; but you rarely recall Sim Cards. Those small cards people often despise, thinking that they are only chips that you use to call or have data. Contrary to this, Sim Cards store much more information than you imagine, storing in addition to your number, contact information, chats, photos, and even financial data. Bet you didn’t know that. This is why Sim Cards have become one of the favorite targets of cybercriminals because, by squeezing them, they will be able to obtain sensitive information with which they will commit a large number of computer crimes. Faced with this situation, today people have begun to see a new trend in communications that assure privacy, security, and anonymity, it is about Encrypted Sim Cards. What is an Encrypted Sim Card? An Encrypted Sim Card is an ultra-secure chip built with state-of-the-art technology and protocols based on cybersecurity,