Bitcoin News and Finance: What You Need to Know

Bitcoin dropped for a second consecutive session on Thursday, as price moved towards a key point of support. Today’s sell-off has sent the cryptocurrency below $29,000, with the coin now trading at a ten-day low. Ethereum fell to a one-week low in today’s session. Bitcoin Bitcoin ( BTC ) was once again in the red on Thursday, as traders continued to secure gains from last week’s bull run. BTC /USD fell to an intraday low of $28,596.91 earlier in today’s session, which comes a day after hitting a high of $29,509.35. This is the lowest point that bitcoin has hit since April 10, when price traded at a bottom of around $28,100. Looking at the chart, Thursday’s move saw BTC fall under a recent floor at $28,600, with the relative strength index (RSI) also dropping toward a floor of its own. At the time of writing, the index is now tracking at 51.47, which is marginally above the aforementioned support at 50.00. BTC has already moved away from earlier lows, and is currently trading

In 2022, African blockchain businesses raised a total of $474 million, a 429% increase from what was raised in the year earlier, the latest CVVC African blockchain funding report has revealed. The custody and exchanges category raised over $250 million, which is equivalent to more than 50% of funds raised by blockchain companies. South Africa and Seychelles Accounted for More Than 80% of Funds Raised According to the latest CVVC Africa Blockchain funding report , blockchain businesses from the continent raised $474 million in 2022, a year-on-year funding increase of 429%. The report states the continent’s 2022 total blockchain funding was realized from some 29 deals, about four more than the 25 that were sealed in 2021. Regarding individual countries with the biggest share of the total funding, the report showed that South Africa (37.3%) and Seychelles (43.9%) alone received more than 80% of the total. Nigeria, which accounted for the second-highest share in 2021, had nine deals wi

On Wednesday, Sotheby’s, one of the world’s largest brokers of fine and decorative art, announced its plans to auction a number of non-fungible token (NFT) assets that were previously owned by the now-defunct crypto hedge fund Three Arrows Capital (3AC). The auction, called the “Grails” NFT collection, will take place during Marquee Sale Week at the firm’s New York location. Sotheby’s Introduces the ‘Grails’ NFT Collection In July of last year, the crypto hedge fund Three Arrows Capital (3AC) filed for bankruptcy protection, and Teneo took over as the liquidator for the firm. In February, Teneo announced its intentions to sell a significant non-fungible token (NFT) collection that the now-insolvent company had amassed. Sotheby’s, the luxury auction house founded in 1744, will auction several of 3AC’s blue-chip NFTs under the name “ Grails Collection .” On Wednesday, Sotheby’s tweeted about the upcoming auction, which will begin on May 19, 2023. The auction house’s metaverse divi

According to Trezor, the crypto hardware wallet manufacturer, owners of the Trezor T model can now use a Coinjoin feature to preserve their privacy. Trezor had announced the Coinjoin feature’s impending arrival on the hardware wallet seven months ago, and the feature went live on April 19. Trezor Adds Coinjoin to Software Suite Owners of the Trezor T model can now use a new Coinjoin service that was added to the device’s features on Wednesday. Trezor announced in September 2022 that the Coinjoin feature was coming after the company revealed its collaboration with the developers of the Wasabi wallet. Essentially, Coinjoin enables bitcoin users to obfuscate their UTXOs by mixing their funds with a pool of other users. The technology has been available since 2013, and several other blockchains have utilized the scheme to mix UTXOs. Hardware Wallet Coinjoins. Coming April 19th, 2023. pic.twitter.com/cVilSYXBBO — Trezor (@Trezor) April 12, 2023 The use of Coinjoin with the Tre

According to the latest Coingecko crypto industry report, during the first quarter of 2023, bitcoin became the best-performing asset after it saw its U.S. dollar value go up from just under $17,000 observed on Dec. 31, 2022, to just over $28,000 by March 31, 2023. The report attributes the crypto asset’s resurgence to “increased volatility from the banking crisis” and to Binance’s decision to end part of its zero-fee incentive scheme for bitcoin trades. Bitcoin Beats Nasdaq Index and Gold After closing the past year trading below $17,000, bitcoin staged a comeback that saw it close the first quarter (Q1) of 2023 trading above $28,000. With this performance, bitcoin, which eventually went past the $30,000 level, has outperformed major asset classes including the Nasdaq index and gold, data from the latest Coingecko crypto industry report has shown. As shown in the report , bitcoin’s quarter-on-quarter (QoQ) growth of 72.4% makes it the best-performing asset during the period. The Na

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, would not answer a direct question in a congressional hearing about whether ether is a security. While the SEC chair insisted that the law is clear on crypto, Congressman Patrick McHenry argued that the SEC’s regulatory actions say “there’s a great deal of uncertainty.” Lawmaker Probes SEC Chair Gary Gensler on Whether Ether Is a Security The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified on Tuesday before the House Financial Services Committee on the oversight of the SEC. During the hearing, the committee’s chairman, Congressman Patrick McHenry (R-NC), asked the SEC chief whether ether ( ETH ) is a commodity or a security. McHenry explained that back in 2018, Bill Hinman, who was the director of the SEC’s Division of Corporation Finance at the time, stated that ether was not a security. Last month, the chairman of the Commodity Futures Trading Commission (CFTC),

Taylor Swift, a pop icon and 12-time Grammy Award winner, reportedly turned down a $100 million sponsorship offer from the now-bankrupt cryptocurrency exchange FTX due to concerns about unregistered securities. A number of FTX celebrity endorsers are currently facing a class action lawsuit, including Shaquille O’Neal (Shaq), Tom Brady, and Larry David. How Taylor Swift Avoided Partnering With FTX Taylor Swift, a famous singer-songwriter who has won 12 Grammy Awards from 46 nominations, reportedly did due diligence on now-bankrupt cryptocurrency exchange FTX and turned down a sponsorship proposal from former FTX CEO Sam Bankman-Fried. FTX filed for Chapter 11 bankruptcy in November of last year. Adam Moskowitz, one of the attorneys leading a $5 million class-action lawsuit against 16 celebrity endorsers of FTX revealed during an episode of the Block’s Scoop podcast that Swift took the step of consulting with her lawyer when approached by SBF, in contrast to other celebrities who in

After the New York Times (NYT) published an editorial about bitcoin mining, claiming the industry is harmful to the environment, an organization called Stop the Presses took issue with the Times’ paper usage. Stop the Presses launched a social media campaign against the NYT’s newspaper production. The organization’s website, nytimesup.org, alleges that the company “kills approximately 59 million trees per year.” Activists Blast New York Times Over Physical Newspaper Print Production On April 10, 2023, the New York Times faced criticism for publishing a one-sided “hit piece” on bitcoin mining. Crypto proponents claimed that Times reporter Gabriel Dance did not use factual information. Since then, the focus has shifted to the environmental impact of the American news outlet, founded in 1851, due to its newspaper production. A group called Stop the Presses launched a social media campaign and website exposing the news business’s current printing practices. The accusation is that t

After announcing the production of bitcoin application-specific integrated circuits (ASICs), Intel, the world’s largest semiconductor chip manufacturer by revenue, appears to be abandoning its blockchain chip production. On Tuesday, a spokesperson for the chip manufacturer explained that Intel has “end-of-lifed the Intel Blockscale 1000 Series ASIC.” Intel Spokesperson Discloses Company Has End-of-Lifed the Blockscale 1000 Series ASIC In February 2022, the California-based technology company Intel made headlines when it announced its plan to create “energy-efficient accelerators,” or ASIC technology, to contribute to the development of blockchain technologies. Later that month, at the 2022 International Solid-State Circuits Conference (ISSCC), the company unveiled the Bonanza Mine BMZ1 . At that time, Tom’s Hardware author Paul Alcorn stated that Intel was also developing a second iteration of the Bonanza Mine ASIC, known as the BMZ2. Moreover, in March 2022, it was reported tha

The author of Rich Dad Poor Dad, Robert Kiyosaki, expects the price of bitcoin to keep rising. “I’m betting on it,” he said. Kiyosaki also shared that he bought 60 bitcoin when the price of the cryptocurrency was at $6,000 per coin. Robert Kiyosaki Expects Bitcoin’s Price to Keep Going Up The author of Rich Dad Poor Dad, Robert Kiyosaki, has expressed his confidence that the price of bitcoin will keep going up. 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 tweeted Tuesday: Bitcoin up over 100% in a year. Will bitcoin keep going up? I’m betting on it. At the time of writing, bitcoin is trading at $30,264.50, up 82% year-to-date. However, the largest cryptocurrency is down 26% from the previous year but up 224% over the past five years. The famous author added: “W

PRESS RELEASE. Volt Inu announced on Twitter on April 18, 2023, that it would launch VoltiEco within the following 3 weeks. VoltiEco, an AI-powered ecosystem, will collect existing and upcoming crypto protocol airdrops to sustain the Volt Inu ecosystem by rewarding holders and ensuring project development. A new product developed by Volt Inu Volt Inu has recently announced that it would launch VoltiEco, a decentralized and autonomous protocol that aims to engage with multiple network, protocol, or blockchain airdrops. Through VoltiEco, Volt Inu aims to sustain the company’s ecosystem, as VoltiEco can easily become a major revenue stream for Volt Inu. VoltiEco leverages blockchain technology, automated algorithms, and AI (Artificial Intelligence) to optimize and automate users’ entry into various crypto airdrops. The project is focused on automation and decentralization and aims to maximize the financial value creation for the Volt Inu ecosystem while also working to minimize ri

On April 18, former U.S. president Donald Trump announced a second series of his digital Trump card collection, following the “great success” of his initial non-fungible token (NFT) trading cards. Despite selling out rapidly, Trump stated on Truth Social that he maintained the initial card prices for the new collection. Trump Unveils Series 2 NFT Collection With Mar-a-Lago Dining Opportunity Trump is back with a new NFT collection featuring 47,000 digital cards minted on Polygon. His first NFT collection, launched in mid-December 2022, sold out within hours. The cards’ value performed well on secondary markets and also surged following Trump’s indictment by a Manhattan grand jury. On March 30, 2023, Trump was indicted with 34 felony counts of allegedly falsifying business records related to ostensible payments to adult film star Stormy Daniels. Trump pleaded not guilty and his legal team has requested a spring 2024 trial. On Truth Social , Trump unveiled his second NFT colle

Zambia is set to complete real-life crypto usage simulations by the end of June, Felix Mutati, the country’s science and technology minister has said. The Zambian minister said his country is seeking a balance between innovation and consumer protection. Zambia Needs to Build Digital Infrastructure Before It Introduces Crypto According to the Zambian minister of science and technology, Felix Mutati, his country is set to complete tests which simulate real-life cryptocurrency usage by the end of June. However, Mutati also argued that Zambia must focus on building a digital infrastructure including digital identities before introducing cryptocurrencies. The latest remarks by Mutati came nearly two months after he first revealed that Zambia was testing technology to regulate cryptocurrencies. As reported by Bitcoin.com News in February, Mutati also lauded cryptocurrency, which he describes as a technology that encapsulates a future that Zambia desires. Nevertheless, despite being th

As the traditional banking system experiences growing instability with the failures of Silicon Valley Bank, Signature Bank, Silvergate Bank, and Credit Suisse, more individuals are turning to decentralized finance (DeFi) as a secure and attractive alternative. Verse DEX , Bitcoin.com’s decentralized exchange, has been flourishing as a result, enjoying a rapid surge in Total Value Locked (TVL) and gaining recognition as a reliable refuge from traditional banking woes. In recent weeks, Verse DEX has witnessed TVL increase by nearly 300%, surpassing the $15 million mark. This impressive growth has propelled Bitcoin.com’s decentralized exchange into the 13th highest-ranked DEX on Ethereum and the 66th overall. To further strengthen its offerings, Bitcoin.com is now launching VERSE Staking, allowing anyone to earn rewards for depositing VERSE tokens on Verse DEX here . Dennis Jarvis, Bitcoin.com CEO, emphasizes the significance of Verse DEX in the pursuit of economic freedom: “At

While bitcoin’s effect on the environment has been discussed at length over the last two years, the latest trend of artificial intelligence (AI) software is now being criticized for its carbon footprint. According to several headlines and academic papers this year, AI consumes significant electricity and leverages copious amounts of water to cool data centers. Reports Insist AI and Chatgpt Consumes a Ton of Electricity and Water In recent times, environmentalists have aimed their targets at various technologies, and during the last 24 months, a great deal of focus has been directed at bitcoin mining . Now, the insatiable drive to reduce carbon footprints is aimed at the artificial intelligence (AI) trend that has taken the world by storm. There’s no doubt that AI has been extremely popular in 2023, with Openai’s Chatgpt program and others releasing innovative new software. However, several articles and scholarly papers claim that AI is consuming a massive amount of energy and has a

The police service of the Canadian city of Calgary is launching a Cryptocurrency Investigations Centre in partnership with blockchain analytics firm Chainalysis to help combat crypto crime. The center “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis described. Canada’s Cryptocurrency Investigations Centre The police service of Calgary, the largest city in the western Canadian province of Alberta and the largest metro area within the three Prairie Provinces region, announced last week that it is creating a “Cryptocurrency Investigations Centre.” The announcement explains: The Calgary Police Service is entering into a unique partnership with Chainalysis, a global blockchain data platform, to help combat crypto-crime. “The creation and implementation of the Western Canada Cryptocurrency Investigations Centre will strengthen our ability to ensure the public safety of citizens, allow for proactive policing, enhance technical inve

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), has issued her opinion on the recent attempts of the institution to change the definition of “exchange” under the Exchange Act Rule. According to Peirce, the institution is now expanding its reach to solve “problems that do not exist,” stifling innovation in the process. SEC Commissioner Hester Peirce Issues Dissenting Opinion U.S. SEC Commissioner Hester Peirce, also known in cryptocurrency circles as “crypto mom,” has written a letter blasting the recent decision of the Commission to amend the definition of “exchange” under the Exchange Act Rule. Peirce states that instead of bolstering innovation, this decision will render it “kaput,” bringing even more confusion to cryptocurrency circles in the U.S. Peirce argued that, compared with the 90’s SEC that acted in a different way, today’s SEC uses the rulemaking process as a threat. She commented : Today’s Commission tells entrepreneurs trying to d

According to a recent report, the cryptocurrency exchange Bittrex received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in March, signaling a potential lawsuit. The SEC’s enforcement division sent the Wells notice prior to Bittrex deciding to wind down its operations in the United States. ‘Lack of Regulatory Clarity’ in the U.S. Adds Uncertainty for Cryptocurrency Exchanges On Sunday, April 16, 2023, the Wall Street Journal (WSJ) reported that the cryptocurrency exchange Bittrex was informed of a potential lawsuit and enforcement action in the form of a Wells notice. A Wells notice is essentially a letter from the U.S. SEC that informs an individual or company of the regulator’s intent to take enforcement action against them. The notice provides the recipient with a chance to respond and often does not result in litigation. At the start of April, Bittrex informed the public that it “made the difficult decision to wind down U.S. operations, effective April

Bitcoin started the week trading below $30,000, as the U.S. dollar strengthened during Monday’s session. USD/JPY rose to a one-month high, with the greenback also gaining against the euro and British pound. Ethereum was also lower, falling below $2,100. Bitcoin Bitcoin ( BTC ) dropped below the $30,000 mark on Monday, as a strong U.S. dollar weakened cryptocurrency markets. BTC /USD fell to an intraday low of $29,816.72, which comes less than 24 hours after trading at a high of $30,555.54. Monday’s price slippage comes two days after bitcoin rose above $31,000 for the first time since June 7. Bitcoin chart by TradingView Ultimately, this recent bull run pushed BTC into overbought territory, with the relative strength index (RSI) hitting a ceiling of 71.00. At the time of writing, the index is tracking at 63.45, with a floor at the 59.00 mark potentially approaching. Should price strength continue to move towards this level, there is a good chance that BTC will move be

According to Quaison Carter, the co-founder and CMO of the location-based NFT platform Lostworlds, non-fungible tokens (NFTs) are still not widely used due to what he called “user friction.” Carter, however, insists that the value of NFTs will persist for “as long as there are communities willing to use them.” The Role Played by PFP Communities Concerning the process of onboarding users, the Lostworlds co-founder suggested making this simpler and making sure the user does not spend time trying to understand how they can become NFT holders. When asked about the challenges associated with location-based NFTs such as location spoofing, Carter lamented how such practices harm the whole industry. He also briefly explained how his company is attempting to tackle the problem and thus help to maintain the “integrity of location-based interactions.” Also, in his written responses sent to Bitcoin.com News, Carter touched on why his firm chose Avalanche and the benefits of using that platfo