Bitcoin News and Finance: What You Need to Know

Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry. Kapruka to Launch Cryptocurrency Payments Within Weeks Kapruka ( Kapruka.com ), a major e-commerce platform in Sri Lanka, has revealed its intention to start accepting payments in cryptocurrency quite soon. Kapruka’s founder and Chairman Dulith Herath made the announcement on Twitter this week. Quoted by the Sri Lankan Daily Mirror newspaper, the executive stated: Kapruka plans to accept crypto payments within the next couple of weeks. Founded in 2005 by the Sri Lankan entrepreneur and web-technology specialist, Kapruka has established itself through the years as Sri Lanka’s largest retailer on the internet. Besides its core business, it has also ventured into cross-border e-com exports and las

While the world of non-fungible token (NFT) assets continues to swell, the notorious artist and art forger Wolfgang Beltracchi has joined the NFT industry with a collection of NFTs called “The Greats.” Beltracchi is well known for admitting that he forged hundreds of paintings and sold the artworks in the name of the original famed artists like Heinrich Campendonk, Fernand Léger, and Max Ernst. Wolfgang Beltracchi Introduces ‘The Greats’ Collection An infamous artist who got caught selling forged art from some of the world’s most beloved artists, Wolfgang Beltracchi, is jumping into the fray of non-fungible token (NFT) collectibles. The German art forger and his wife admitted to selling artworks from 14 different pieces that sold for roughly $45 million. However, Beltracchi claimed to have re-created the works of “about 50 artists” and also said his profits exceeded $100 million. After a 2011 trial in Germany, Beltracchi was found guilty and served a touch over three years for his

23 days ago on September 16, cross-chain bridges held around $7.79 billion total value locked (TVL) and since then the TVL has increased 89% since then to $14.75 billion. Currently, the top bridges include network connections like Polygon Bridges with $4.5 billion, Fantom Anyswap Bridge with $4.1 billion, and the Avalanche Bridge with $3.2 billion. Cross-Chain Bridge Technology Swells Decentralized finance (defi) and cross-chain bridge technology have continued to grow in value this year. A cross-chain bridge allows users to connect to another blockchain, which in most cross-chain cases the other network has been the Ethereum chain, and users can swap assets back and forth between each blockchain. Last month, Bitcoin.com News reported on an in-depth study that covers the myriad of multi-chain bridges that exist today. At that time on September 16, metrics from Dune Analytics ’ “Bridge Away (L1 Ethereum)” dashboard indicated that bridges held $7.79 billion total value locked (TVL).

PRESS RELEASE. Bitcoin is not just the first cryptocurrency to have come onto the scene – the role of this asset has substantially increased in recent years. Giant corporations like Tesla and Xiaomi have added BTC to the list of payment options, while El Salvador has made Bitcoin a legal tender within the country. According to market capitalization, only Amazon, Google, Saudi Aramco, Microsoft, and Apple surpass the first cryptocurrency, hence the crypto market still has a huge potential to grow . Merchants are aware that innovations are inevitable and they must keep up with the times. This is why a Bitcoin payment gateway has become a “must-have feature” for today’s businesses. Top-3 Reasons to Accept Bitcoin Payments Why should a business owner add this option? The overall number of crypto holders is booming – 300+ million people hold BTC , USDT , and other digital assets. This is why your target audience could drastically skyrocket. Bitcoin payments are cheaper as no thi

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has confirmed the country’s upcoming digital currency will be launched “in a couple of days from now.” According to the governor, the digital currency which is also known as the e-naira will be the first of its kind in Africa. Nigeria to Launch CBDC in Days Emefiele’s reassurances to Nigerians follow the CBN’s deferment of the e-naira launch to an unknown date. Sources disclose Emefiele said on Thursday the e-naira CBDC will make Nigeria “one of the first countries in Africa to adopt the digitisation of its national currency.” As previously reported by Bitcoin.com News, the central bank claimed it had postponed the e-naira’s launch because this would have clashed with the country’s independence day celebrations. However, some observers have speculated that the deferment may have been necessitated by a legal challenge that was brought against the central bank by a Nigerian firm. A Nigerian court has since rul

On October 8, the leading California-based talent agency Creative Artists Agency announced it has inked a deal with the infamous non-fungible token (NFT) asset collector known as “0xb1.” The influential talent agency aims to help the pseudonymous 0xb1 monetize the vast NFT collection and bolster “blue-chip brands looking to enter the NFT space.” 0xb1 Partners With Creative Artists Agency to Bolster ‘Advisory Partnerships’ This week the well known talent agency based in Los Angeles, Creative Artists Agency (CAA), revealed it has partnered with a crypto NFT whale called “ 0xb1 .” The character has a Twitter profile and 53,000 followers after joining the social media platform in November 2020. On Friday, CAA told The Hollywood Reporter that it has signed a deal with the pseudonymous 0xb1 and it aims to help “monetize their collection of NFTs through licensing and brand partnerships.” Super proud to be a part of the CAA family! Will work hard to bring open license NFT brands & p

Another batch of Russian online crypto exchanges in Russia face closure following a recent decision by a regional court. Information published on their websites has been deemed illegal meaning the country’s telecom watchdog can block access to their platforms. Roskomnadzor May Take Down Blacklisted Crypto Exchanges A number of websites providing options to exchange, cash out, and transfer cryptocurrency using various payment methods may be blocked by Russia’s telecom regulator, Roskomnadzor, if their operators don’t delete the illegal web pages. The threat for the online crypto platforms stems from a court ruling recognizing their content as prohibited. In early September, the Kushnarenkovsky District Court in Bashkortostan, a republic of the Russian Federation, confirmed that the information they are disseminating is banned under current law, Forklog reported. The register of banned Russian websites, maintained by the non-government organization Roskomsvoboda, lists 17 sites aff

A Cameroonian fintech start-up, Ejara, has raised $2 million to pioneer the usage of crypto and investment services in French-speaking African countries. Coinshares Ventures and Anthemis Group led the funding round in which they were joined by Mercy Corps Ventures, Lateral Capital, Lofty Inc Capital, and Netx Fund. Using Crypto to Protect Savings in Francophone Africa According to a report, the start-up, which was founded by Cameroonian Nelly Chatue-Diop, wants to “level this playing field for the average French-speaking African so they can invest as little as $9 (CFA5,000).” In addition, Chatue-Diop hopes that through this start-up, the non-elites from this region can also save and avoid going through the painful experience of losing everything as her family did. “I was really young and we were part of the middle class. Overnight all our savings dwindled and the aftermath was that the government couldn’t even pay salaries. So even at that tender age, I asked myself how we managed

In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri Lankan authorities have unveiled the composition of а newly established committee of experts gathered to formulate the nation’s policy in three key areas related to cryptocurrencies, the local Daily Mirror reported on Saturday. The members are expected to present regulations for entities operating in the digital banking, blockchain, and cryptocurrency mining industries. According to an announcement by the Government Information Department, the professionals involved in the project are Viraj Dayaratne, chairman of the Securities and Exchange Commission of Sri Lanka, Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange, and Dharmasri Kumar

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are Expressly Designed to Deny Its Users the Basic Ownership of Their Money’ While politicians and the modern banking cartel have been all about central bank digital currencies, a great number of critics believe they are no different than centralized databases. On Saturday, the former Central Intelligence Agency (CIA) and National Security Agency (NSA) subcontractor, Edward Snowden , published an article describing what he thinks CBDCs will bring to society. Snowden is a fan of decentralized crypto assets like bitcoin, ethereum, and zcash. However, when it comes to CBDCs the whistleblower is concerned

U.S. Senator Cynthia Lummis has disclosed her bitcoin purchase worth between $50K and $100K. The senator from Wyoming sees bitcoin as an “excellent store of value” that should be in every investment portfolio. Senator Lummis Buys Bitcoin The pro-bitcoin senator from Wyoming, Cynthia Lummis, disclosed her recent bitcoin purchase in a periodic transaction report (PTR) Thursday. According to the filing, the senator bought BTC worth between $50,001 and $100,000 on Aug. 16. The price of bitcoin was around $45K at that time. The disclosure was made outside of the 45-day reporting deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. The Act requires members of Congress to disclose every purchase and sale of individual stocks, bonds, and commodity futures valued over $1,000 within 45 days of the transaction. A spokesperson at Senator Lummis’ office told CNBC that the disclosure delay was due to “a filing error,” stating: Once we realized it we worked with the Ethic

Non-fungible token (NFT) assets have been extremely popular in 2021 and it doesn’t seem like the NFT hype is going away any time soon. A number of NFT collections have propelled the industry to new heights with enormous sales, outpacing some of the most popular auctions selling physical items. One specific NFT project called Bored Ape Yacht Club (BAYC) has seen $542 million in lifetime sales between 8,749 traders. Moreover, on Friday, the official BAYC Twitter account announced the project plans to launch a token in the first quarter of next year. Bored Ape Yacht Club NFT Collection Captures $542 Million in Lifetime Sales There’s definitely been a few artists that have made millions of dollars selling single NFTs to buyers willing to pay for the cryptographic-backed collectibles. For instance, Beeple is well known for his NFT work, and one of his pieces sold for $69 million at Christie’s. Then there are the NFT collections that have also fueled the NFT craze like Cryptopunks, Art B

PRESS RELEASE. Blockchain company DRepublic has announced the launch of their innovative combinable NFT platform MetaCore, and NFT product Legoot, using the new EIP-3664 Modularity. Blockchain MMORPG game “Cradles: Origin Of Species” creators DRepublic have now developed the first-ever combinable NFT platform MetaCore, using the new EIP-3664 Modularity. With this groundbreaking new technology, DRepublic has also developed the first combinable NFT product: Legoot, and simultaneously opened up a whole new world of possibilities within both the NFT space and the wider blockchain industry. What is EIP-3664? EIP-3664 is the next infrastructure layer for NFTs and on-chain development, bringing notable functionality improvements on the previous 1155 (multi-token) & 721 (non-fungible token) standards. The most relevant advancement EIP-3664 offers is its disaggregation and assemblage characteristics which enable the arbitrary combination of all NFTs. The most important features of EIP

The government in Abkhazia has extended an order prohibiting access to internet sites used by cryptocurrency miners. The measure is part of a wider ban on activities related to the extraction of digital coins that also limits the use of electricity and imports of mining equipment in the breakaway Georgian republic. Authorities in Abkhazia Confirm Ban on Websites Needed by Local Miners Abkhazia’s telecom and media watchdog has extended internet restrictions affecting crypto mining operations in the country. According to an order issued by the State Committee for Communications, Mass Media and Digital Development, access to certain websites used by miners remains prohibited until March 31, 2022. The initial ban adopted in late December expired on June 1 this year. As per the document issued on Oct. 6, internet providers are required to implement the technical measures needed to block the websites that allow miners to conduct their coin minting activities, Forklog reported quoting the

CEO of trading firm Genesis, Michael Moro, stated that according to his views the decentralized finance (defi) space is still too risky for institutions to step in. Moro explained that there have been some important mistakes made by high-profile defi protocols that are putting customers’ funds at risk. This is why the space is being still dominated by retail investors, that have more lax risk management policies. Defi Errors Scare Away Institutions Michael Moro, CEO of Genesis , one of the biggest cryptocurrency trading firms in the space, stated his opinion about why defi has failed to entice institutions to invest in these protocols. According to his view, the space is still too risky and this is evidenced by some recent mistakes high-profile entities have made. In an interview with Insider , Moro stated: Errors and mistakes that you’ve seen certainly make institutions shy from doing anything in size, in any particular platform. Hedge funds and proprietary trading firms would

Former teen soap star from the popular television series “The O.C.,” Ben McKenzie, has called out his fellow celebrities for shilling specific cryptocurrency projects. McKenzie calls the trend a “moral disaster” and he’s named a bunch of celebrities that have shilled a few crypto projects to their loyal fans. ‘The O.C.’ Star Ben McKenzie Writes a Scathing Review About His Fellow Celebrities and Their Crypto Participation On October 7, the American actor, writer, and director Ben McKenzie has a problem with his fellow celebrities pushing certain crypto projects. So much so he wrote an opinion editorial denouncing the behavior and published it via the publication The Slate. Ben McKenzie is also a celebrity himself as his first high-profile role was in 2003, when he played “Ryan Atwood” in the television series “The O.C.” McKenzie also starred in the show “Southland” and the television series “Gotham.” The oped written by McKenzie is called “Celebrity Crypto Shilling Is a Moral Dis

China has proposed adding cryptocurrency mining to the country’s latest “Negative List for Market Access.” This will make cryptocurrency mining an industry that is off-limits to investors, another move by the Chinese government to clamp down on crypto-related activities. China’s Negative List of Industries to Include Cryptocurrency Mining Cryptocurrency mining has been added to the 2021 draft “Negative List for Market Access,” according to an announcement on Friday by China’s National Development and Reform Commission, the state planner. The list was jointly released by the Commission and the Ministry of Commerce. The State Council explained: The negative list for market access outlines sectors, fields, and businesses off-limits for investors. Industries, fields, and businesses not on the list are open for investment to all market players. The list consists of 123 industries in 2020. The number of industries on the list has been reduced to 117 in the current version. Industries

Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country. Binance Ceases Some Services in South Africa Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will “cease offering” futures, options, margin, and leveraged tokens products to South African users. The company added: With immediate effect, South African users will be restricted from opening new accounts for these products. Users will have 90 days to reduce and close their positions for these products. The exchange continued, “Users will be able to top-up margin balances to prevent margin calls and liquidations, but they w

Digital asset platform Bakkt has announced a partnership with Google “to introduce digital assets to millions of consumers.” With the partnership, Bakkt says consumers will benefit from the “expanded reach and access” to cryptocurrencies. Google Collaborates With Bakkt to Expand Consumer Access to Cryptocurrencies Intercontinental Exchange’s digital asset platform, Bakkt, announced Friday that it has partnered with Google “to introduce digital assets to millions of consumers.” By forming a partnership with Google, Bakkt said: Consumers will benefit from expanded reach and access to digital assets. Launched in 2018 by Intercontinental Exchange Inc., the parent company of the New York Stock Exchange (NYSE), Bakkt enables institutions and consumers to buy, sell, store and spend digital assets, including cryptocurrencies. Bakkt explained that “users will be able to add their virtual Bakkt Visa Debit Card into Google Pay to purchase everyday goods and services online, in-store, or w

Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against the risks. Members of Russian Parliament to Seek Protection for Citizens Investing in Cryptocurrency Deputies in the State Duma, the lower house of Russian parliament, are thinking about introducing certain legal restrictions on the funds non-qualified investors can put into crypto assets. Anatoly Aksakov , chairman of the parliamentary Financial Market Committee, revealed the intention during an international conference on consumer protection for users of financial services, Interfax reported. Billions of dollars are being spent on the acquisition of cryptocurrency, Aksakov noted in his statement while highlighting the great risks but also the great returns associated with this type of investment. He the

Over the last few days, cryptocurrency advocates have been discussing the Sat Symbol initiative, a goal that aims to get a specifically designed symbol to represent the smallest unit of bitcoin and also get the symbol widely adopted. The Sat Symbol has been promoted by a number of crypto luminaries but others have offered alternative ideas. Initiative Attempts to Tie Symbol to Bitcoin’s Smallest Unit Most people know that Satoshi Nakamoto is the inventor of the Bitcoin protocol , the “purely peer-to-peer version of electronic cash” that was launched on January 3, 2009. The word Satoshi has Japanese roots and the name translates into definitions such as ‘quick-witted,’ ‘clear thinking’, and ‘wise.’ Furthermore, the popular anime Pokémon’s lead human character Ash Ketchum’s name is “Satoshi” in Japanese. While the name was used by Bitcoin’s inventor, the term “satoshi” (lowercase) is also the smallest unit of bitcoin. The term satoshi, when referring to bitcoin’s smallest unit, has

The cryptocurrency shiba inu has managed to capture the 18th position in terms of crypto market valuations. The token has gained 230% during the last seven days and year-to-date, SHIB has gained a whopping 24,177,682%. SHIB’s Value Swells After Whale Buys $43 Million Worth of Tokens The popular meme-based crypto-asset shiba inu (SHIB) has seen massive gains this year and has propelled itself into the top 20 market positions. At the time of writing, shiba inu has a market valuation of around $11.6 billion. While seven-day stats show SHIB has jumped over 230%, monthly metrics show the crypto asset has gained close to 300%. On Friday, October 8, 2021, there’s $13.9 billion in 24-hour SHIB trading volume. On September 30, 2021, a whale purchased over 6 trillion SHIB just before the price skyrocketed. Shiba inu made its way into the limelight when Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s Crypto Covid Relief. In recent times, Coinbase has l