Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. The latest strategic investment in emerging SocialFi startup Torum from KuCoin Labs will empower the development of a SocialFi Metaverse powered by VR and Web3.0 technologies. 4th November 2021, Kuala Lumpur, Malaysia — Following the strategic investment of Huobi Ventures and 20 other prominent crypto VCs, Torum SocialFi platform is excited to announce that the project has secured a strategic investment from KuCoin Labs, the $50M incubator and research arm of KuCoin. The Torum KuCoin Ecosystem Torum is a SocialFi Metaverse ecosystem that is specially designed to connect cryptocurrency users and projects. The Web 3.0 ecosystem is built with a social media platform with over 120,000 users at its core, integrated with an interactive yield farming platform, an NFT marketplace, and lastly the world’s first PFP Metaverse identity – Torum Avatar NFT. Everything started when Torum announced the ambition to expand into the Metaverse and NFT on 27th September 2021. The S

Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding coin minting sector. President Tokaev Calls for Legislative Regulation of Cryptocurrency Mining in Kazakhstan During a recent meeting with the energy minister of Kazakhstan, Magzum Mirzagaliev, President Kassym-Jomart Tokayev criticized his department for allowing a sharp decline in fuel reserves. The head of state also emphasized the need to ensure an uninterrupted supply of electricity for both businesses and households, and to create additional generating capacities. According to a press release from Tokayev’s office, Mirzagaliev informed the president about steps taken to compensate for fuel shortages and presented a forecast for the development of Kazakhstan’s power generation industry

Chipper Cash, one of Africa’s biggest fintechs, recently concluded a Series C extension funding round in which it raised $150 million, a report by Techcrunch has revealed. New Investors Participate in Latest Round According to the report , this latest funding round — which was led by Sam Bankman-Fried’s FTX — comes barely six months after the fintech startup Chipper Cash was able to raise $100 million in the first Series C funding round. Besides FTX, other investors that participated in Chipper Cash’s latest funding round include SVB Capital, which led the first Series C. Also reinvesting were Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital. The report acknowledges that new investors participated in this series. It states, however, that the names of these investors have not yet been made public. It also reveals that following the $150 million haul, Chipper Cash has now raised over $305 million. The firm is now valued at over $2 billion. The

The Sandbox, a blockchain-based metaverse game, has scored an investment of $93 million to keep expanding its metaverse proposal. The funding round was led by Softbank’s Vision Fund 2, an investment vehicle that puts funds on early tech-based companies. Other investors in the round included Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The Sandbox Gets $93 Million in Series B Funding Round The Sandbox, one of the leading blockchain-based metaverse games, has closed its Series B funding round raising $93 million to further expand its virtual world. The funding round was led by Softbank’s Vision Fund 2, which specializes in investing in tech startups. The round also had the participation of Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The funds raised in this round will help the game to keep expanding its reach. Sebastien Borget, COO and co-founder of The Sandbox, stated: Thi

Avalanche Foundation, the organization behind the Avalanche chain, has announced the launch of Blizzard, a fund that will entice development and innovation on the Avalanche ecosystem. The Fund, which has $200 million available for its task, is composed of contributions coming from Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, among other participants. Blizzard Fund Comes to Avalanche Devs The Avalanche Foundation has announced the launch of a new fund that will help developers to keep launching innovative products on top of the Avalanche blockchain. The fund, called Blizzard, will put $200 million for grabs of devs who want to deploy innovative apps in the ecosystem. Blizzard is made of contributions of Avalanche’s key partners, including Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/crypto Fund, Collab+Currency, Lvna Capital, and Finality Capital Partners. According to the l

During the second week of October, the total value locked (TVL) in decentralized finance (defi) protocols crossed $200 billion, and two weeks later in November, the TVL in defi surpassed $250 billion gaining 25% in value. Meanwhile, Ethereum commands more than 67% of the $253 billion TVL in defi today, gaining 4.65% during the last seven days while Solana’s TVL increased by 5.99% this past week. Defi TVL Increases by 25% in 2 Weeks The total value locked (TVL) in defi has reached an all-time high, tapping $253.94 billion on November 3, 2021. On October 12, Bitcoin.com News reported on the defi TVL surpassing $200 billion and in two weeks the value has expanded by 25%. Value expansion is not only due to more value being added to defi protocols, but crypto assets like ethereum (ETH) , solana (SOL) , and avalanche (AVAX) have seen significant gains. Today, the TVL on the Ethereum blockchain is 67% or $171.24 billion , according to defillama.com stats. The second-largest defi blockcha

PRESS RELEASE. Palo Alto, CA – LTNM, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 LTNM ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of the LTNM Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, LTNM has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for LTNM to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help LTNM install 100,000 ATMs across all 50 US states, wher

The leading crypto industry association in Iran has slammed authorities for their passive stance regarding crypto regulation. The government’s inaction is a source of concern, the organization said, offering its assistance to regulators whom it considers not sufficiently qualified to deal with the complex issue. Blockchain Association Proposes Public-Private Partnership on Crypto Rules in Iran Tehran authorities such as the Central Bank of Iran ( CBI ) are not capable of regulating cryptocurrencies, according to the head of the Iran Blockchain Association ( IBA ). Тhe country’s main organization representing members of the crypto sector called for the establishment of an “independent counsel” to take on the job. During a press conference this week, the head of the IBA, Abbas Ashtiani, elaborated: We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not

Mobius Capital Partners founder Mark Mobius says that cryptocurrency is not an investment, calling it “a means to speculate and have fun.” He prefers stocks and believes “the U.S. market is going to continue to prosper and continue to do well.” Mark Mobius Does Not See Crypto as an Investment Mark Mobius, the founder of Mobius Capital Partners, talked about cryptocurrency in an interview with CNBC Wednesday. Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios. He founded Mobius Capital Partners in March 2018. “It’s not an investment. It’s a religion,” he said about crypto, elaborating: People should not look at these cryptocurrencies as a means to invest. It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day. Unlike Mobius, many famous investors and fund managers see bitcoin as a good i

The Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. Commonwealth Bank Begins Offering Crypto Services Commonwealth Bank (CBA), also known as Commbank, announced Wednesday that “it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets,” which will be directly through its Commbank app. Australia’s biggest lender explained that it has partnered with New York-based crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services. “Both partnerships have allowed the bank to design a crypto exchange and custody service that will be offered to customers through a new feature in the app,” Commbank detailed. The bank’s mobile banking app is used by about 6.4 million customers. N

According to reports, the founder of the now-defunct Silk Road 2 marketplace has forfeited more than half-million dollars worth of bitcoin to British authorities. White’s Silk Road 2 admin handle was called “Cthulhu,” and he also dubbed himself as “DPR2.” Silk Road 2 Admin Thomas White Forfeits $667K in Bitcoin In April 2019, Bitcoin.com News reported on Thomas White, the lead administrator of the now-defunct Silk Road 2 darknet marketplace (DNM), getting sentenced to five years in prison. The Silk Road 2 (SR2) DNM was the original Silk Road’s successor, after the first Silk Road administrator was taken into custody. The 26-year-old White ran the DNM under the names “Cthulhu” and “DPR2,” and was eventually tracked when he ordered a package from the SR2 marketplace itself. Sky News reports that White has been forced to hand over £490,000 ($667,000) worth of bitcoin from his net proceeds. The prosecutors continued to monitor White’s finances after he was jailed and the National Cri

ADALend is a scalable and decentralized lending protocol governed by a decentralized autonomous organization (DAO). ADALend will offer various features that will provide its users with decentralized financial instruments accessible to everyone with access to the internet, without the complicated KYC requirements of the mainstream banking system. The protocol will improve digital assets’ capital efficiency by enabling assets accumulated to fund multiple loan pools. The protocol will utilize the Cardano blockchain to flesh out DeFi potential as a viable replacement to the traditional financial sector. Green Blockchain Blockchains of the future will be required to have a lower impact on the environment, working efficiently without consuming enormous amounts of energy to remain operational. Cardano has been one of the most energy-efficient blockchains in the industry. 1.6 million times lower than bitcoin and well below the average level of high market capitalization coins. Cardano h

This week, U.S. lawmakers are preparing to debate the advance of Joe Biden’s Build Back Better proposal, which is now estimated at $1.75 trillion. The new proposal follows the expansive monetary policy the Federal Reserve engaged in during the last two years expanding the money supply like never before. Meanwhile, U.S. inflation is at a 30 year high and the central bank’s Federal Open Market Committee (FOMC) plans to assess new strategies today. Biden Slims Down ‘Build Back Better’ Plan Last week, U.S. president Joe Biden offered a slimmed-down “ Build Back Better ” proposal from its original $3.5 trillion to the current estimate of $1.75 trillion. The proposal follows the massive monetary expansion that stemmed from the U.S. Federal Reserve adding credit to its member banks’ deposits. In order to deal with the economic disaster caused by the government’s Covid-19 mandates, the Fed’s monetary expansion eclipsed two centuries of USD creation. The latest 1,600-page proposal from the

Green Bay Packers quarterback Aaron Rodgers is taking a portion of his salary in bitcoin. He also gave away $1 million in the cryptocurrency to his fans in collaboration with Square’s Cash App. “I believe in bitcoin,” he said, adding that “the future is bright.” Green Bay Packers’ Aaron Rodgers Takes Part of His NFL Salary in Bitcoin American football quarterback for the Green Bay Packers of the National Football League (NFL), Aaron Rodgers, explained in a video he posted on Twitter Monday that he is taking a portion of his salary in bitcoin. In addition, he gave away $1 million in the cryptocurrency in partnership with Square’s Cash App. Rodgers said: Bitcoin to the moon … That’s why I’m pumped that I recently teamed with Cash App. They have enabled me to take part of my NFL salary in bitcoin for the very first time. He also wrote: “I believe in bitcoin & the future is bright.” The Green Bay Packers and Rodgers signed a four-year, $134 million deal before the start of the

The Nasdaq-listed crypto exchange Coinbase is now letting customers borrow up to $1 million using bitcoin as collateral. The company charges 8% APR but there is no credit check. The exchange said that the bitcoin used as collateral “remains safely held by Coinbase,” emphasizing, “It’s not lent out or used for any other purpose.” Customers Can Borrow up to $1M With Bitcoin as Collateral From Coinbase Cryptocurrency exchange Coinbase announced Tuesday: We’re excited to announce that eligible customers can now borrow up to $1 million USD from Coinbase. On its website, the Nasdaq-listed crypto exchange explained that eligible customers can “Borrow cash using bitcoin as collateral,” noting that borrowers will “Pay just 8% APR with no credit check.” The company explained that customers can borrow as much as 40% of the value of the bitcoin in their account, up to $1 million. “Each month you only need to pay the interest due ($10 min),” Coinbase said, adding that there is no prepayment

With а growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country’s security agency announced it’s stepping up efforts to ensure the nation’s energy system is well-protected from such consumers. Large-Scale Illegal Mining Operation Uncovered in Central Ukraine The Security Service of Ukraine (SBU), the country’s top law enforcement agency, is intensifying “systematic work to ensure the protection of critical infrastructure of the United Energy System of Ukraine,” a press release revealed this week. The announcement provides details about its latest operation against illegal crypto mining in the country: An underground cryptocurrency farm has been exposed in Cherkasy region. The operators stole industrial volumes of electricity from the regional power grid for bitcoin mining. Preliminary estimates shared by the SBU suggest that the Ukrainian state has suffered financial

PRESS RELEASE. Cybersecurity company FortKnoxster launches its one-stop crypto app, Crypto Suite , with a range of features aimed at the crypto-and-security lovers. Among the features, which all are protected by strong end-to-end encryption, are: Fiat to crypto and reverse Crypto to crypto exchange Store and transfer NFTs Send/request crypto direct in the secure chat Video calling, group chats, storage, voice messaging PIN/Biometric security protection Upgrades using the FortKnoxster coin, FKX With security breaches in the world of blockchain technology and cryptocurrency becoming more frequent, FortKnoxster has made use of what is known as a Hierarchically Derived (HD) wallet model, allowing enhanced security and strong protection. Combined with default and seamless end-to-end encryption, the security level is very strong. Crypto Suite, which initially is in beta, is free of charge to use all features in the Crypto Suite. A PRO upgrade gives, among other benefits, access t

Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange. The acquisition will help the bank “create new growth value in the long term amid a new financial world,” said the CEO of the bank. Major Thai Bank Becoming Majority Shareholder of Cryptocurrency Exchange Thailand’s oldest lender, Siam Commercial Bank (SCB), announced Tuesday that its subsidiary, Siam Commercial Securities Company Ltd. (SCBS), is acquiring a 51% stake in local crypto exchange Bitkub for 17.85 billion baht ($536 million). SCB is the country’s fourth-largest lender by assets. The acquisition will help the SCB Group “create new growth value in the long term amid a new financial world,” CEO Arthid Nanthawithaya said, adding: In the past 1-2 years, the digital asset industry, one of the financial industries of the future world, has grown rapidly, and it could grow further in the long term. The deal is expected to be completed by the first quarter of 202

On Tuesday, the San Francisco-based fiat-to-crypto and payment infrastructure company, Wyre, announced the launch of a non-fungible token (NFT) market tool that gives developers the ability to create NFT marketplaces in less than 24 hours. Wyre Claims Devs Can Build an NFT Marketplace in 24 Hours Non-fungible token (NFT) assets have been a hot topic all year long and the trend has continued strong toward the end of 2021. This year well known firms and exchanges like Crypto.com, FTX, and Coinbase have launched NFT marketplaces. Creators have also leveraged markets like Makersplace, Mintable, Rarible, and the leading NFT marketplace Opensea. On November 2, Wyre announced the launch of an all-in-one NFT market solution that provides developers with the tools needed to build an NFT market in less than a day. Wyre is a San Francisco-based payment platform co-founded by Michael Dunworth and Ioannis Giannaros. The firm is backed by businesses like Draper Associates, Digital Currency Grou

Black Rock Rhino, a leading rhino conservancy in South Africa, is set to raise funds for the endangered species via the auction of rhino horn non-fungible tokens (NFTs). Auction Proceeds to Pay for Sanctuary’s Expenses In what has been billed a first, the rhino conservancy — which is home to over 200 rhinos — together with a blockchain technology firm Virtual Nation Builders, is set to auction the non-fungible tokens at one of South Africa’s biggest NFT marketplaces, Momint. According to a statement released by Black Rock Rhino, the proceeds from the November 11 auction will be used to pay for some of the sanctuary’s day-to-day expenses. “The net proceeds will go towards securing the area, feeding, vaccines as well as the other day to day operating expenditure of the conservancies,” explained the statement. In addition to funding the conservancy’s daily expenses, proceeds from the sale are expected to aid conservationists in their ongoing efforts to reduce the number of rhino dea

The cryptocurrency market is at an all-time high and the NFT world is booming. ERTHA is one of the hottest P2E (play to earn) gaming Metaverse projects and has already achieved incredible product-market fit, while still being in the private NFT sale round. Erthaverse is a 3D virtual representation of a futuristic planet Earth, divided into 350,000 unique land plot NFTs, differing in resources and features. Landowners are joining a persistent, life-like simulation to build their homes, customize their environment, participate in politics, and earn real income by creating and driving the in-game economy. More than 2000 Hexs have already been sold to individual owners in the first few days of the private sale. Saudi Arabia in the Ertha world, representing an oil-rich country in the real Earth, was sold out in a few hours, demonstrating the tremendous hype around owning NFT land in Ertha. The future income and opportunities are the main criteria when purchasing. Investors are acquiri

On Tuesday, the digital asset exchange Crypto.com announced the launch of the first official Ultimate Fighting Championship (UFC) non-fungible token (NFT) collectibles. The new NFT series will feature UFC digital collectibles that showcase fight night artwork, event posters, championship belts, and athlete profiles . UFC to Drop Official NFTs for Usman vs. Covington 2 Fight During the first week of July, Bitcoin.com News reported on Crypto.com partnering with UFC in a ten-year deal worth $175 million. At the time, sources disclosed that the deal was the UFC’s largest sponsorship deal to date. On November 2, the two announced the launch of official UFC NFTs that will feature UFC artwork, event posters, athlete profiles, championship belts, avatars, artist collaborations, and mystery boxes. The collection of NFTs called “UFC 268 Packs” will drop on November 4, and fight posters and belt designs will be based on the upcoming event “UFC 268: Usman vs. Covington 2,” slated to take p

Coinbase is acquiring an AI-powered support platform Agara in an effort to deliver “world-class support for customers.” The exchange explained that “Through this acquisition, we’ll be able to provide our customers with new personalized, intelligent, and real-time support options.” The acquisition also reconfirms Coinbase’s strategy to build out its tech hub in India. Coinbase to Improve Customer Support With AI Platform Cryptocurrency exchange Coinbase announced Tuesday: Today, Coinbase is announcing that we are acquiring Agara, an AI-powered support platform with operations in India and the US. “We plan to leverage Agara’s powerful Deep Learning and Conversational AI technology to automate and enhance our customer experience (CX) tools,” explained Manish Gupta, Coinbase’s EVP of Engineering. He added that improving CX “remains a top priority for Coinbase.” In the past few months, the company increased its support staff headcount by five times. It also announced that 24/7 phone

The mayor of the U.S. city of Miami says that he is going to take 100% of his next paycheck in bitcoin and become the first American politician to accept a salary in cryptocurrency. The mayor is currently trying to build his city into a bitcoin capital of the world. US Politician Wants to Be Paid in Bitcoin The pro-bitcoin mayor of the U.S. city of Miami, Francis Suarez, tweeted Tuesday that he is going to take 100% of his next paycheck in bitcoin. His statement was in response to a challenge by Morgan Creek Digital partner Anthony Pompliano asking on Twitter: “Who is going to be the first American politician to accept their salary in bitcoin?” In his tweet, Mayor Suarez asked Mike Sarasti, CIO and director of Innovation & Tech of the city of Miami, to help make it happen. Sarasti indicated that he will help by tweeting “Mayor. Amazing” in reply, along with two “100” symbols and a bitcoin symbol. The Miami mayor’s statement came as a growing number of professional athletes a

Singapore, already a major financial center in the world, is now aiming to become a cryptocurrency hub as well. The city-state is seeking to secure its role as a leading player in the crypto space, the head of its central banking institution has indicated in recent comments. Singapore to Establish Itself as Center for Crypto Business Authorities in Singapore are taking steps to cement its position as a key player in crypto business, the official who has been at the helm of the Monetary Authority of Singapore ( MAS ) for a decade has revealed in an interview. It comes as Singapore and other financial hubs around the world are exploring ways to regulate the rapidly growing sector. Quoted by Bloomberg, managing director of MAS Ravi Menon stated: We think the best approach is not to clamp down or ban these things. The MAS is Singapore’s central banking institution responsible for setting the rules for banks and financial firms. The authority is now trying to also introduce “strong r

The first limited edition of Spellfire NFT cards has already reached the shelves of OpenSea. Spellfire NFTs have a unique mix of capabilities and cannot be compared to anything else on the market. A new conception has combined time-tested gaming and modern twists to have a unique collecting experience of virtual and physical assets generating a lifetime revenue, plus a great time playing a beloved fantasy game. Is the team good at what they do? Spellfire has gained top investors within a few hours. The physical game is ~70% done. 20+ people focused on the game, creating the new Spellfire world for almost 4 years. More than 100 newly created cards are already selling at OpenSea . The digital game is rapidly growing on Unity. Augmented reality cards in the app show their moves. New characters, realms, and event cards join the game every day. Discord and Telegram communities are buzzing. Headlines at BitcoinNews , Dappradar , Zycrypto , AMBcrypto , and many more. T