Bitcoin News and Finance: What You Need to Know

After a move above $20,000 on Friday, bitcoin was back in the red on Saturday, as prices fell close to a key support point. As a result of this move the token has been largely unchanged in the last week, with price up 0.87% in the last seven days. Ethereum was also lower to start the weekend. Bitcoin Bitcoin ( BTC ) fell below $20,000 to start the weekend, as bearish sentiment returned following a brief rally late on Friday. Following the release of the University of Michigan Consumer Sentiment report for September, which showed improvement from the previous month, BTC surged to a peak of $20,109.85. However on Saturday, the token slipped to an intraday low of $19,238.12, falling below its floor of $19,300 in the process. Looking at the chart, the move comes as the 14-day relative strength index (RSI) continues to move away from its ceiling at 49.00. As of writing, the index is tracking at 45.45, which is close to another support point near the 44.00 region. Should this floor

Laliga, the premier soccer league organization in Spain, has announced a partnership with Globant, an Argentine software giant, to bring Web3 and metaverse experiences to its fans. The partnership will combine Globant’s tech resources with Laliga’s tech division in order to build products to expand the reach of the organization in the digital realm. Laliga Enlists Globant’s Aid to Build Its Metaverse Stack Big sports organizations are getting closer to the digital world as a way of reaching new fans and offering new interaction possibilities for their users. Laliga, the premier soccer league organization in Spain, recently announced a partnership that will serve to expand the digital reach of the company. The organization partnered with Globant, a Buenos Aires-based software giant, to build metaverse and Web3 experiences for current fans and new users. These new additions would come to complement the current digital offer of Laliga’s tech division, which currently includes fantasy

The largest decentralized exchange (dex) platform by global trade volume, Uniswap, is looking to raise between $100 and $200 million, according to a report citing people familiar with the company. The funding round is currently in a nascent stage as the report claims Uniswap has been “engaging with a number of investors.” Sources Say Uniswap Is Eyeing a Fresh Capital Raise From Investors Like Polychain According to four unnamed sources familiar with the matter, Uniswap is eyeing fresh capital from investors. The news stems from a report published by Tech Crunch reporter Manish Singh who cites the parties familiar with Uniswap’s business dealings. Singh says the sources claim that the decentralized exchange (dex) startup is “engaging with a number of investors” and one of them is Polychain Capital. Uniswap is seeking roughly $100 to $200 million in fresh capital and could print a post-valuation of around $1 billion. To date, Uniswap has raised around $12.8 billion from investors. F

New sanctions discussed by EU member states amid the current escalation of the conflict in Ukraine are going to restrict European crypto services for Russians. Reports about the tightening have come after earlier this year the Union banned only “high-value” crypto-asset services to Russian residents and companies. EU Expected to Target Crypto Services for Russians in New Round of Sanctions Over Ukraine The European Union is preparing to punish Russia with more sanctions over its decision to announce partial mobilization as part of its escalating military intervention in Ukraine and moves to annex occupied Ukrainian territories through what are seen as sham referendums. The package will hit trade in the first place, with European Commission President Ursula von der Leyen announcing intentions to impose a new ban on Russian imports as well as the export of technologies that could be employed by the Russian military. A price cap for Russian oil is planned, too. The new measures would

Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ). Binance Launches Crypto Trading Platform in New Zealand Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of Binance New Zealand (Binance NZ). Noting that the registration was actually effective on Sept. 10, the company detailed: This registration allows Binance NZ to offer a range of financial services, including spot trading, staking, NFTs and more. Binance CEO Changpeng Zhao (CZ) commented: “A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see sign

The Delaware Department of Justice’s Investor Protection Unit has issued a cease and desist order against 23 entities and individuals involved in a popular cryptocurrency scam known as “pig butchering.” The order also freezes the accounts allegedly holding cryptocurrencies belonging to the victims. Delaware Cracks Down on Pig Butchering Crypto Scam The attorney general of the U.S. state of Delaware, Kathy Jennings, announced Wednesday that the Investor Protection Unit of the state’s Department of Justice (DOJ) has “issued a summary order to cease and desist against 23 entities and individuals involved in a cryptocurrency scam known as the ‘pig butchering scam.'” Pig butchering crypto scams have recently become alarmingly popular . Victims of this type of scam “are groomed over time to make investments using cryptocurrency, only to find that what they thought was a safe investment was a scam,” the Delaware DOJ detailed. “The moniker stems from the scammers’ practice of ‘fattenin

The mobile software, cloud-based services, and business intelligence (BI) firm Microstrategy is seeking a full-time Lightning Network software engineer, according to a job listing published this week. The developer, if hired, will build a Lightning Network-based software as a service (SaaS) platform for the company so it can be used for ecommerce use cases and connect with enterprises looking for payment solutions as well. Microstrategy Looks to Hire Lightning Network Software Developer After the company purchased 301 bitcoin ( BTC ) to hold on its balance sheet, the BI firm Microstrategy published a job listing on the web portal smartrecruiters.com. Microstrategy’s job offer is for full-time employment as a Bitcoin Lightning Software Engineer and the chosen individual will be in charge of creating a Lightning Network (LN) SaaS platform. “As a Bitcoin Lightning Software Engineer at Microstrategy, you will build a Lightning Network-based SaaS platform, providing enterprises with in

According to a recent Chainalysis report, although Sub-Saharan Africa is believed to account for as little as 2% of global transaction activity, the area “contains some of the most well-developed cryptocurrency markets of any region.” Additionally, Sub-Saharan Africa’s “retail market and outsized usage of P2P platforms make it unique compared to other regions.” Sub-Saharan Africa’s ‘Outsized Usage of P2P Platforms’ According to a new report by blockchain intelligence firm Chainalysis, Sub-Saharan Africa’s total crypto transaction volumes of $100.6 billion seen between July 2021 and June 2022 are the least of any region that has been surveyed. While the on-chain volumes during this period are 16% higher than the preceding period, the report nevertheless states that Sub-Saharan Africa only accounts for 2% of the global crypto activity. Still, according to the blockchain analysis firm’s findings, Sub-Saharan Africa likely has some of the most developed cryptocurrency markets global

The Brazilian Securities and Exchange Commission (CVM) has sent a subpoena to Mercado Bitcoin, one of the biggest exchanges in the country, to inquire about the services the company lends regarding cryptocurrency-related fixed return investments. The company will have to disclose the details of these investments and if they plan to maintain them as available to the general public. Mercado Bitcoin Subpoenaed on Fixed Income Token Investments Cryptocurrency exchanges are becoming more than just that, and in regions like Latam, where there are countries with high inflation numbers, some offer bank-like products to entice customers to enter the crypto market. Mercado Bitcoin, one of the biggest cryptocurrency exchanges in Brazil, has been subpoenaed by the Brazilian Securities and Exchange Commission (CVM) on the services that it offers customers via its platform. The subpoena inquires about the services offered via the Tokens section on the web page of Mercado Bitcoin, which, accordi

On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment offerings.” Circle says the new service will make it easier for merchants to integrate their existing points of contact with Circle’s crypto solutions. Circle Reveals New Permissionless Cross-Chain Transfer Protocol at Converge22 This week Circle and a number of other crypto industry heavyweights attended the Converge22 event in San Francisco. During the conference, Circle has made a number of announcements like usd coin (USDC) support being added to Robinhood Markets’ offerings. In addition to partnering with Robinhood, Circle also announced the firm’s new “cross-chain transfer protocol to support USDC interoperability for developers [and] their users.” “Cross-Chain Transfer Protocol is permissionless and enables USDC to be sent natively across ecosystems, improving l

PRESS RELEASE. The Rugby League World Cup 2021 (RLWC2021) has announced CoinEx as its official cryptocurrency trading platform partner. Founded in 2017, CoinEx is a professional global cryptocurrency exchange. Dedicated to ‘making crypto trading easier’, CoinEx provides a highly secure, stable and efficient service for its three million global users. It’s a first for the World Cup to be in a position to follow other sports in having a cryptocurrency company as a partner, and CoinEx is honoured to have the opportunity to establish a partnership with RLWC2021. CoinEx CEO Haipo Yang said, “We genuinely admire what the RLWC2021 represents. The tournament is set to trail blaze a way to reach new audiences for the sport, and we are excited to be a part of that through our partnership. “This will be the first major sponsorship activity we have undertaken, and we look forward to working together to make it a success for both parties.” Jon Dutton, RLWC2021 ‘s Chief Executive, said:

PRESS RELEASE. Arbswap, the Arbitrum-native automated market maker decentralized exchange, has seen significant progress over the past months. Following the migration of its contracts to the Arbitrum Nova network, Arbswap has recently launched the Nova Accelerator with support from Old Fashion Research, a multi-strategy blockchain investment fund. By establishing the Accelerator, Arbswap has set out to support the growth of Arbitrum Nova’s ecosystem through investments and advisory services for projects building on the platform. According to Arbswap, the Nova Accelerator aims to invest $10 million in the Arbitrum Nova ecosystem. About Arbswap and Arbitrum Nova Arbitrum Nova is an Arbitrum Layer-2 scaling solution that optimizes ultra-low-cost transactions while offering strong security guarantees. Being the first Arbitrum chain built on its AnyTrust technology, Arbitrum Nova is meant to serve applications that handle high volumes of price-sensitive transactions, such as gaming, s

Following the introduction of the Crypto Market Integrity Coalition (CMIC) with 17 member firms last February, the organization has added eight new members. New coalition recruits include Bittrex, Merkle Science, Crystal Blockchain and Bitgo. 8 Crypto Market Firms Join Crypto Market Integrity Coalition to Improve Self-Regulation Seven months ago, 17 crypto firms announced the formation of the Crypto Market Integrity Coalition (CMIC), a group that aims to bolster a sensibly-regulated crypto industry. Original CMIC members included Circle, Coinbase, Anchorage Digital, Huobi Tech, Liberty City Ventures, and the Chamber of Digital Commerce. “Through the pledge, the coalition seeks to send an unequivocal message at this critical moment in the evolution of digital assets: The crypto industry has made enormous strides to improve market integrity in the past few years,” the CMIC launch announcement noted on February 7, 2022. On Thursday, CMIC detailed that eight new members have joined t

Volatility in cryptocurrency markets remained high on Thursday, as markets began to consolidate following a recent red wave. Bitcoin was back above $19,000 in today’s session, with ethereum also rebounding following recent losses. As of writing, the global crypto market cap is up 2.43% Bitcoin Bitcoin ( BTC ) was trading higher on Thursday, as crypto markets marginally rebounded following yesterday’s sell-off. The token rose to an intraday high of $19,688.34 earlier in today’s session, less than a day after trading at a low of $18,927.12. Volatility in bitcoin has been heightened in recent weeks, as markets reacted to rising inflation, as well as a stronger U.S. Dollar. Looking at the chart, it appears that bulls are once again targeting a resistance point of $20,300, however they could face some obstacles in recapturing this point. The obstacles will likely come in the form of the 14-day relative strength index (RSI), which is nearing a resistance of its own at 49.50 Currently

Cryptocurrency mining should be allowed in areas with excess energy and prohibited in those that experience deficits, according to Russian officials preparing to legalize it. An expert from the crypto industry has recently marked the regions where Moscow is likely to authorize mining and the ones where it will probably ban the extraction of digital currencies. Expert Lists Russian Regions Most Suitable for Crypto Mining and Those Expecting Ban The Central Bank of Russia and the Ministry of Finance recently agreed on legislation designed to regulate the mining of cryptocurrency that should be adopted by the end of this year. Lawmakers working to finalize it have indicated that the industrial activity should be permitted only in parts of the vast country that can produce more electricity than they need. One of them, the Chairman of the parliamentary Financial Market Committee Anatoly Aksakov, also said that the energy-intensive process should be banned in other areas facing power sho

PRESS RELEASE. Bitcoin.com , a digital ecosystem and secure self-custody platform where users can accessibly and safely interact with cryptocurrencies and digital assets , is launching the Verse Development Fund, an initiative to accelerate growth and innovation in Bitcoin.com ’s Verse ecosystem. In addition, the fund will empower projects that embody Bitcoin.com ’s ethos of economic freedom and democratized finance. “Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their digital asset investing journeys,” said Bitcoin.com CEO Dennis Jarvis. “So far, we’ve built an incredible portfolio of products and services used by over 4 million individuals monthly. The Verse Development Fund will be the instrument by which we leverage this diverse and passionate community’s energy into building an even stronger ecosystem with even more popular appeal.” The fund, which will start accepting grant applications from developers and other ecos

After Robinhood Markets launched the company’s beta Web3 wallet on Tuesday and listed the stablecoin usd coin on the exchange platform Robinhood Crypto last week, the company announced a strategic partnership with Circle Financial. The deal revealed on Wednesday will provide Robinhood Crypto and Robinhood Wallet users with the ability to purchase and sell usd coin, and access “exclusive in-app educational modules to earn USDC rewards.” Robinhood and Circle Partner to Offer USDC Accessibility On Wednesday, Robinhood Markets (Nasdaq: HOOD ) published an “Under the Hood” blog post that explains the California-based financial services company has joined forces with Circle . Robinhood details that the stablecoin usd coin (USDC) is the “first stablecoin available to buy and sell on Robinhood Crypto and on the new Robinhood Wallet (currently in beta).” “USDC will play a crucial role in helping our customers get their dollars into Web3 through a trusted and transparent source,” Johann K

On Wednesday, the decentralized oracle network platform, Chainlink, announced the launch of a market-wide interest rate product for Web3 protocols and the decentralized finance (defi) economy, called the CF Bitcoin Interest Rate Curve (CF BIRC). Chainlink revealed the new product at Smartcon 2022 in New York City, and the newly launched CF BIRC product aims to provide “a reliable and transparent base rate” for Web3 market participants. Chainlink and CF Benchmarks Launch Manipulation-Resistant Base Rate CF BIRC Chainlink has made a number of announcements during the Smartcon 2022 event in New York City. For instance, on Wednesday the smart contract and oracle network project revealed a program called the Sustainable Chainlink Access for Layer 1 & 2 Enablement otherwise known as SCALE. “SCALE is a holistic and win-win economic model for both blockchains and the Chainlink Network,” Chainlink tweeted on September 28. “As [layer one and layer two] userbases expand, fees from [de

The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed: We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking. Villeroy de Galhau added that “unduly complex” crypto regulations could fall short of investor protection and money laundering prevention. The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in Septemb

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” Powell explained that the Federal Reserve is looking very closely at “the potential costs and benefits” of issuing a central bank digital currency (CBDC) in the U.S. He detailed: We are looking at it very carefully. We are evaluating both the policy issues and the technolog

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto asset’s market valuation is around $​​48.82 billion. Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12% In mid-June, Bitcoin.com News reported on the largest stablecoin asset tether (USDT) , as USDT ’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%. However, USDC’s market cap has shrunk a great deal during the last 83 days, as it has dropped by $6.7 billion since July 7, 2022 . At the time of writing, at 4:15 p.m. (ET) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 billion. US

PRESS RELEASE. InVar Finance has recently built InVaria2222 , the RWA tokenization world, which is currently in its first stage. InVar intends to create hybrid financial services by bridging the crypto sector with the real economy, such as TradFi with DeFi and RWA tokenization, which pertains to real-world assets. It all began in the RWA tokenization world when InVaria2222 leveraged traditional real estate investment to provide transparency, accessibility with low frictions, and higher composability. What’s there to know? The team cultivates strong relationships with regulators, real estate developers, and critical strategic financial institutions to foster the new paradigm of RWA investment innovation and broader crypto adoption. Regarding the potential of RWA tokenization, the real estate industry alone can generate significant funds flown into the crypto space. Moreover, with a global real estate market worth over a whopping $300 trillion, tokenizing just 1% of the market woul