Bitcoin News and Finance: What You Need to Know

Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, believes that if bitcoin is “really successful,” the regulators will “kill it,” reiterating his previous concerns of governments banning cryptocurrencies. Nonetheless, he sees bitcoin as a good alternative to cash and owns some. Billionaire Hedge Fund Manager Ray Dalio Warns of Regulators Killing Bitcoin Ray Dalio warns about regulators coming after bitcoin if the cryptocurrency gains mainstream success at the SALT conference in New York Wednesday. Dalio currently serves as Bridgewater Associates’ chairman and co-chief investment officer. His firm’s clients include endowments, governments, foundations, pensions, and sovereign wealth funds. Referring to bitcoin, the Bridgewater boss said: I think at the end of the day if it’s really successful, they will kill it, and they will try to kill it. I think they will kill it because they have ways of killing it. This was not the first time Dalio warned ab

The blockchain network Solana had issues processing blocks on September 14 and according to a status report on September 15 at 2:01 a.m. (EST), the Solana validator community “successfully completed a restart of Mainnet Beta.” Solana Validators Restart Mainnet Beta Solana is now a member of the club of blockchains that have stalled for several hours stopping people from sending SOL transactions, using decentralized apps (dapps), and troubling block explorers and wallets with significant issues. During the early morning hours on Wednesday, following Solana’s block production stall on Tuesday, the “Solana Status” Twitter account gave the community an update. The official Solana Twitter page also retweeted the Solana Status tweet. “The Solana validator community successfully completed a restart of Mainnet Beta after an upgrade to 1.6.25,” Solana Status explained . “Dapps, block explorers, and supporting systems will recover over the next several hours, at which point full functionali

PRESS RELEASE. AscendEX is thrilled to announce the listing of the Sovryn token (SOV) under the trading pair USDT/SOV on Sept. 15 at 1 p.m. UTC. Sovryn is a Bitcoin-based decentralized finance (DeFi) protocol launched in early 2020. The Sovryn platform provides the tools to trade, lend, and leverage Bitcoin and other assets permissionlessly, secured by the Bitcoin Blockchain with minimal gas fees. Their platform features a trading interface uniquely designed for Bitcoin-native DeFi users with no transaction limits and support for multiple assets to trade. Sovryn aims to connect Bitcoin with the entire crypto ecosystem, while maintaining high-level security and the flexibility of smart contracts. Sovryn set a vision to “create an open, fair, and transparent financial operating system for the world,’ Building upon that vision, the platform provides an opportunity for their users to have a say in their financial decisions, with little or no external control or oversight while keepi

On Tuesday, Bitcoin.com News spoke with Marc Falzon, an individual who has been documenting the bitcoin rollout in El Salvador since the law was implemented on September 7. Falzon says that there are a number of issues that no one is talking about in regard to the bitcoin law and the Chivo wallet, a government-crafted bitcoin wallet. One specific issue is the fact that Chivo wallet users cannot spend less than $5 when using the app. Marc Falzon: Reporting on the Bitcoin Situation in El Salvador from the Ground On September 7, 2021, El Salvador implemented the bitcoin tender law and now both bitcoin ( BTC ) and the U.S. dollar are legal currencies in the country. There’s been a lot of controversy surrounding the rollout and one survey shows that a majority of Salvadorans were not content with the new law. There was even a street protest and Salvadoran citizens took to the streets to object against the new law. Marc Falzon recorded a protest on his drone and when he uploaded the re

Unnamed sources familiar with the matter indicate the Biden administration may allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead. The news follows three U.S. representatives asking Biden to replace Powell with a central bank leader that addresses equality and climate change. Jerome Powell to Stay for Second Term, Sources Say A report written by Market Watch contributor Greg Robb shows that U.S. president Joe Biden and his administration will likely keep Jerome Powell at the helm of the central bank. Robb says the sources stem from “analysts who keep tabs on Washington for Wall Street” and they are “now fairly certain about his renomination.” Jerome Powell, the Federal Reserve’s chairman, has been leading the central bank throughout a period of time when the Fed has expanded the monetary supply like never before in history. Many complaints have been directed at Jerome Powell and the Federal Reserve’s schemes . Speaking with Market Watch, Stephen

New York Attorney General Letitia James has secured a court order to shut down cryptocurrency exchange Coinseed. The order also “permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through” the exchange. New York Attorney General Letitia James Shuts Down Crypto Exchange The office of New York Attorney General Letitia James announced Monday that the attorney general has shut down cryptocurrency trading platform Coinseed. James has secured a judgment against Coinseed and its founder and CEO, Delgerdalai Davaasambuu, “that permanently halts their illegal and fraudulent operations,” the announcement describes, adding: The judgment secured by Attorney General James today permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through Coinseed and orders a money judgment against the defendants in the amount of $3,061,511, both together and separately. Attorney General James filed a law

State Bank of India (SBI) has reportedly blocked payments to cryptocurrency exchanges using its Unified Payments Interface (UPI). Payment processors have been told to disable the bank’s UPI for crypto merchants. Payment Processors Instructed to Disable SBI UPI for Crypto Firms State Bank of India, the country’s largest bank, has reportedly “blocked the receipt of funds by crypto bourses on its UPI platform,” the Economic Times reported Wednesday, citing sources in the payments industry. Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate interbank transactions through mobile phones. The UPI payment system is regulated and supervised by India’s central bank, the Reserve Bank of India (RBI). According to the publication: The bank has told payment processors to disable SBI UPI for crypto merchants. This means SBI bank customers cannot transfer funds via UPI to crypto exchanges to buy c

The Original DeFi Meme Token – HOGE has joined forces with the DeFi Angels to give their project a voice on Capitol Hill as the regulation conversation heats up. It’s no secret that American based blockchain crypto companies are fighting the infrastructure bill in D.C. This bill could create big change in the world of DeFi over the next several years. HOGE is an ERC20 token on the Ethereum blockchain that has a 2% tax on every transfer. Part of that tax is reflected to current holders, and part is burned forever making HOGE a deflationary cryptocurrency asset. Hoge was a fair launch project; everybody can buy in on day one. Even the developers. This project is entirely comprised of a decentralized community and one of the few token projects out there that has no developer wallet meaning they are a project that is responsible for creating their own self-sustaining ecosystems that provide revenue channels to continue to fund and grow their project. Hoge has achieved ear

Cryptocurrency cannot be adopted as a means of payment in Uzbekistan, a high-ranking official from the country’s central bank has recently stated. Speaking to local media, the regulator’s representative also noted that unlike cryptocurrencies, the national fiat is backed by the bank’s assets. The statement comes in spite of Tashkent’s crypto-friendly moves in the past. Cryptocurrency Cannot Be Accepted for Payments in Uzbekistan, Monetary Authority Says Cryptocurrencies such as bitcoin cannot be recognized as legal tender in Uzbekistan and that’s unlikely to ever change, a central bank official told Spot this week. Speaking to the local news outlet, the Deputy Chairman of the Central Bank of the Republic of Uzbekistan ( CBU ) Behzod Hamraev said: As an economist, I can assume that it [cryptocurrency] will never be equal to world currencies such as the dollar, euro, yen, ruble. The representative of the monetary authority pointed out that 28 trillion Uzbekistani sum (the nation’

According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future. South Africans Still Experimenting With Cryptocurrency Though the KLA findings report that 47% of South Africans are holders, the Businesstech report quoting KLA’s Tessa Nowosenetz explains the value of crypto assets held is still very low. This low average value suggests that many are still trying to understand crypto. To emphasize this point, Nowosenetz said: While this percentage is high, the amount invested is low. This indicates that the bulk of South African crypto investors are experimenting and dabbling without making a significant financial commitment. According to the study’s findings, 25% of respondents that hold cryptocurrency have between $7 and $70 (or between 100 and 1,000

Interactive Brokers, one of the largest online brokerage firms, has announced today it is offering cryptocurrency trading services in alliance with Paxos. Users of the platform now have a complete suite of cryptocurrency trading options, along with traditional trading offerings like stocks and bonds. The company recognized the importance of digital assets for traders to help them achieve their financial objectives. Interactive Brokers Debuts Crypto Trading Interactive Brokers, an online brokerage with more than one million customers, has introduced cryptocurrency to its suite of trading options, plans for which its CEO announced back in June. Now, users of the Interactive Brokers platform will be able to trade for different crypto assets: bitcoin, ether, litecoin, and bitcoin cash. With this inclusion, Interactive Brokers acknowledges the rising importance of the cryptocurrency asset class for diversification in today’s financial market. About this, Milan Galik, CEO of the compan

Zabu Finance, a decentralized yield farming protocol on Avalanche, suffered the first big hack related to the chain. The protocol was the victim of an exploit that allowed an attacker to steal $3.2 million in tokens, according to reports. The core of the exploit happened due to a vulnerability in the design of the Spore token, which allowed the minting of 4.5 billion zabu that were successfully withdrawn from the platform, taking the value of the currency to 0. Zabu Finance Suffers First Big Avalanche Hack Zabu Finance, a yield farm decentralized protocol built on top of the Avax blockchain, faced the big first hack related to the Avalanche chain last week. An attacker took advantage of a vulnerability and withdrew $3.2 million worth of several cryptocurrencies. The attack had its root in a pool of a token called Spore, which allowed the attacker to mint over 4.5 billion of the native token of the protocol (Zabu). The tokens were then dumped in other defi trading protocols levera

The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously called cryptocurrencies. Bank of Russia to Issue Digital Ruble by 2030, According to Financial Market Development Plan The Strategy for the Development of the Financial Market of the Russian Federation by 2030 was released this week by the Ministry of Finance. The plan is open for public discussions between Sept. 14 and Oct. 13, 2021, according to a notice published by the State Automated Information System. The strategy defines the launch of a digital version of the Russian ruble as one of the priority tasks in the field of digitalization, as Bits.media crypto news outlet reported. The digital ruble, the authors have pointed out, will become the third f

As the $ ADA bull market continues to gather steam – with new price records set each month – many within the Cardano community are asking, what’s next? The limitless possibilities within the Cardano ecosystem offer many opportunities for both project creators and their investors. But financial and informational asymmetries have always been a major limiting factor. That’s why KICK.IO , a non-custodial crowdfunding protocol, was created to make sure that this immense potential is utilized to its fullest. The platform will ensure projects have access to the most advanced kickstarting and fundraising capabilities and help both retail and institutional investors to come together and pick the winners of tomorrow. To help the team achieve this goal, they have chosen to hold an IEO on ExMarkets decentralized exchange. Following the overwhelmingly successful recent public sale of ADAX – this choice should not surprise anyone, since ExMarkets is increasingly becoming a household

Google is joining forces with the blockchain firm Dapper Labs in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology. The blockchain company’s CEO Roham Gharegozlou tweeted about the deal on Tuesday noting that the firm was “amped to welcome Google to the Flow blockchain.” Google to Collaborate With Dapper Labs Various reports indicate that the American multinational technology company that specializes in Internet-related services, Google, has partnered with Dapper Labs. The Google collaboration announcement follows Dapper Labs’ recent partnership with Filecoin . Speaking with Forbes’ contributor Michael del Castillo, Janet Kennedy, the vice president of Google Cloud North America, explained that “it’s really about helping them with rapid and sustainable growth.” Kennedy further elaborated that blockchain tech is continuing to advance. “Blockchain technology is becoming more and more mainstream. So companies like Dapper need scalabl

Ark Investment Management CEO Cathie Wood expects the price of bitcoin to be more than $500,000 in five years’ time, which is over 10 times what it is today. She also shared her view on cryptocurrency regulation and Coinbase’s trouble with the U.S. Securities and Exchange Commission (SEC). Cathie Wood’s Ark Invest Predicts $500K Bitcoin Cathie Wood, the CEO of Ark Investment Management (Ark Invest), discussed bitcoin and crypto regulation in an interview at the SALT conference Monday. Wood is also the firm’s founder and CIO. She was asked what bitcoin will be worth five years from now. Wood replied, “If we are right and companies continue to diversify their cash into something like bitcoin, institutional investors start allocating 5% of their funds into … bitcoin, or other crypto,” then: We believe that the price will be tenfold of where it is today, so instead of $45,000, [it would be] over $500,000. Wood also commented on cryptocurrency regulation. Based on her meeting with s

Global investment bank Morgan Stanley is establishing a new cryptocurrency research team. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the bank said. Morgan Stanley Sets Up New Research Team Morgan Stanley is launching a dedicated cryptocurrency research team, Bloomberg reported Monday, citing the bank’s internal memo to staff it has seen. Led by Sheena Shah, the firm’s lead cryptocurrency analyst, the team will research cryptocurrencies’ impact on both equities and fixed income globally. Shah will be based in London, where she will report to Adam Wood, who leads Morgan Stanley’s fintech and payments research team in Europe. She will also report to James Faucette, who leads the firm’s fintech and payments research team in the U.S. The memo states: The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital ass

Amid trouble with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils its plan to raise $1.5 billion by selling bonds. Coinbase Plans to Issue $1.5 Billion in Bonds Coinbase Global Inc. (Nasdaq: COIN) announced Monday “its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 in a private offering.” The company explained that the notes “will be fully and unconditionally guaranteed by Coinbase Inc.” and “The interest rate, redemption provisions, and other terms of each series of notes will be determined by negotiations between Coinbase and the initial purchasers.” The announcement details: Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that C

We’re less than one month away from Apex—the inaugural event that brings together developers to learn, build, share and celebrate all things XRP Ledger. In partnership with the XRP Ledger Foundation, we’re pleased to announce additional speakers who will join Alexis Ohanian, David Schwartz, Wietse Wind and Monica Long at Apex.  Chris Jimison, CTO, Forte  … Continued The post Forte, Coil Join Apex Speaker Lineup appeared first on Ripple. http://dlvr.it/S7ZVS7

PRESS RELEASE. AscendEX is thrilled to announce the listing of the iMe token (LIME) under the pair USDT/LIME on Sept. 14 at 1 p.m. UTC. iMe is an innovative, Telegram-based messaging platform with extended functionality and DeFi capabilities. iMe is the only project to introduce DeFi functionality on a messaging platform. iMe has integrated Artificial Intelligence, “Topics,” an alternative to Telegram folders, built-in Google Translations, a functional Cloud with Albums, and many other unique developments on its platform. Similar to the functions offered by Telegram, iMe users can send messages, photos, videos, and any file type (doc, zip, mp3, etc.) while creating groups or channels to broadcast to their audience. Users can record contacts on their phones and find people by their names. A hybrid of email and SMS, iMe can handle personal and business messaging needs with the added support of end-to-end encrypted voice and video calls. LIME, the protocol’s native token, allows