Bitcoin News and Finance: What You Need to Know

The internet entrepreneur and former CEO of Twitter, Jack Dorsey, claims if developers are building on Ethereum they have “at least one, if not many, single points of failure.” The statement was in response to Vitalik Buterin’s commentary concerning Elon Musk running Twitter. Former Twitter CEO Criticizes Projects Building on Ethereum Jack Dorsey doesn’t seem to be interested in anything to do with the Ethereum network, and last Friday he criticized the project. The Twitter conversation started when Ethereum’s co-creator, Vitalik Buterin , talked about Elon Musk running Twitter . “[I] don’t oppose Elon running Twitter (at least compared to status quo), but I do disagree with the more generalized enthusiasm for wealthy people/orgs hostile-takeovering social media firms,” Buterin tweeted . “That could easily go *very* wrong (eg. imagine an ethically-challenged foreign gov doing it).” Following Buterin’s tweet, Dorsey replied “same,” and further said: “[I] don’t believe any individ

The Central Bank of Russia has emphasized the importance of moving forward with its digital ruble project. According to a statement by a top representative, the monetary authority has no intention to delay the trials despite not all invited banks being ready to participate yet. Bank of Russia to Experiment With Digital Ruble Payments This Year The digital ruble is “very much needed,” First Deputy Chairman of Bank of Russia Olga Skorobogatova has recently remarked in a statement quoted by business news portal RBC’s crypto page. The regulator will not delay upcoming tests of the prototype currency platform, the high-ranking official said and elaborated: If we move quickly with testing and legislative changes, we can implement it in the coming years. The Central Bank of Russia (CBR) started trials with the digital ruble in January and announced the first successful transactions between individual wallets in mid-February. At least a dozen Russian financial institutions are taking

PRESS RELEASE. Spring is coming on strong for our launchpad. GADA , the first permissionless and community-governed launchpad ecosystem on Cardano, will launch a sale on KICK.IO on the 20th of April! With the help of two launchpads – GADA Pro and GADA Light – GADA helps various projects to both raise liquidity and distribute tokens stress-free. While GADA Pro does require KYC measures, its detailed screening and review process gives way to a more trustworthy and stable DeFi ecosystem. This version is perfect for projects that are in a more advanced stage of development. The Light version offers complete freedom for everyone to fundraise projects on the Cardano blockchain with full automation and without KYC verification. And more freedom means that GADA Light users will also be able to help shaping the future of GADA’s platform. GADA also uses a 5 Tier system that aims to create an inclusive environment for any investor – big or small. While the first three GADA Tiers are bett

Iran has drafted new rules to increase penalties for illegal cryptocurrency mining in the country, including additional fines and imprisonment. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited.” New Penalties for Illegal Cryptocurrency Mining in Iran An official with Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) said the country’s administration will approve new rules to increase penalties for unauthorized cryptocurrency mining, IRNA publication reported Sunday. Mohammad Khodadadi Bohlouli explained that under the new law: The increased penalties include raising fines by at least three and at most five times, imprisoning the offender, and revoking the offender’s business license. “Any use of subsidized electricity intended for households, industrial, agricultural, and commercial subscribers for mining cryptocurrency is prohibited,” Khodadadi said.

Allianz Chief Economic Advisor Mohamed El-Erian says that the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “go higher.” He noted: “That’s what you get when you’ve waited too long to recognize what inflation is and to take action.” Predictions by Allianz’s Chief Economist Economist Mohamed El-Erian discussed the U.S. economy, the markets, and the Federal Reserve’s response to inflation in an interview with CNBC Monday. El-Erian is the president of Queens’ College, Cambridge University. He is also Chief Economic Advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. He explained: I think the markets have understood that we have three issues. One is high, persistent inflation is with us. Two is the Fed is way behind, and three, the pathway for orderly disinflation is pretty narrow. Due to these factors, the economist said that companies are

PRESS RELEASE. INTERNET CITY, DUBAI, Apr. 18, 2022 – LBank Exchange, a global digital asset trading platform, will list CTOMORROW PLATFORM (CTP) on April 20, 2022. For all users of LBank Exchange, the CTP/ USDT trading pair will be officially available for trading at 18:00 (UTC+8) on April 20, 2022. Using cutting-edge technologies to revolutionize current industry standards and practices, CTOMORROW PLATFORM (CTP) is here to foster an ecosystem of personalized, customized health solutions individually tailored to everyone’s unique traits and needs. Its native token CTP will be listed on LBank Exchange at 18:00 (UTC+8) on April 20, 2022, to further expand its global reach and help it achieve its vision. Introducing CTOMORROW PLATFORM CTOMORROW PLATFORM is a personalized technology platform focusing on innovations which revolutionize the way people monitor and manage their health for a healthier, happier world. It sits squarely at the intersection of three important emergent techn

Following Bitmain’s product introduction of two new application-specific integrated circuit (ASIC) bitcoin mining rigs, the mining devices manufacturer Microbt has announced the launch of two new miners as well. Revealed during the Bitcoin 22 conference in Miami, Microbt showcased the company’s new Whatsminer M50 series, which offers hashrate speeds of up to 126 terahash per second (TH/s). Microbt Launches 2 New Next-Generation Bitcoin Mining Rigs Bitcoin miners are getting more advanced as the latest machines revealed by Bitmain and Microbt indicate that next-generation mining rigs pack a whole lot of hashpower. Bitcoin.com News has previously reported on Bitmain’s upcoming mining machines that offer hashrate speeds up to 255 TH/s. The first was the Antminer S19 XP revealed in November 2021, which boasts a hashrate of 140 TH/s, and the second was the Antminer S19 Pro+ Hyd. with up to 198 TH/s of computational power. Additionally, Bitmain revealed another hydro ASIC unit called t

Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy Only $600 Worth of Crypto Annually The Ministry of Finance of Russia recently submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market. Details about the law’s provisions have surfaced in Russian media reports this week. According to the draft, qualified investors, or “professional purchasers of digital currency” as they are now described, will have unrestricted access to crypto assets. Ordinary Russians, however, will be able to buy a maximum of 600,000 rubles (approx. $7,000) worth of cryptocurrency each year. And that’s a

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, to advance new fintech and crypto-regulated instruments to the market. Argentinian Securities Regulator Assigns Fintech And Crypto Special Importance The National Securities Commission (CNV), the Argentinian Securities regulator, is reportedly taking action to streamline the arrival of new fintech and crypto-based investment instruments to the market. The institution recently launched an innovation hub that will link private investors with regulators, to exchange information about the requirements these products must meet to be released to market. Andres Consentino, president of the CNV, was optimistic about the future of this initiative. He stated : We are being proactive in the context

A bitcoin ATM operator has been indicted in New York for running an illegal business “marketed towards individuals engaged in criminal activity.” The district attorney in charge described: “Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk business as secret as possible to attract a clientele that would pay top dollar for anonymity.” Operator of 46 Bitcoin ATMs Charged Manhattan District Attorney Alvin Bragg Jr. announced Wednesday that Robert Taylor has been indicted “for operating an illegal bitcoin ATM business that he marketed towards individuals engaged in criminal activity.” The announcement states: Taylor operated bitcoin kiosks in at least 46 locations in New York City, mostly in laundromats, as well as locations in New Jersey and Miami. Between 2017 and 2018, the 35-year-old “converted more than $5.6 million of his customers’ cash into bitcoin while charging a fee of between 10% and 20%,” the district attorney detailed. Taylor is charged “with mu

Grayscale Investments’ CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is ‘a Matter of When and Not If’ The U.S. Securities and Exchange Commission (SEC) has now approved not one but two different structures of bitcoin futures exchange-traded funds (ETFs). This has led to the optimism in the crypto industry that the securities watchdog is closer to approving a spot bitcoin ETF. The first structure utilizes the Investment Company Act of 1940 (40 Act). Most proposed bitcoin futures ETF to date are filed under this Act. The second uses the Securities Act of 1933 (33 Act). The Teucrium Bitcoin Futures ETF was approved earlier this month using the latter structure. Grayscale Investments CEO Michael Sonnenshein explained to CNBC last week: “From the SEC standpoint, there were several protections that 40 Act products hav

Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% this week. Moreover, over the last seven days, an NFT collection called Moonbirds saw the largest sales volume gathering $231.9 million. Weekly NFT Sales Record a Slight Increase NFT sales volume managed to increase slightly this week, as sales jumped 3.35% higher than last week’s sales. The sales volume stemming from 15 different blockchain networks saw $658.4 million in sales this past week. Seven days ago, on April 10, sales volume the week prior had dropped by 13%. This week, Ethereum recorded $562.9 million in sales, up 3.74% higher than last week. The largest sales volume percentage increase out of all 15 blockchains, compared to last week was Polygon, jumping 106.68% with $7.3 million in sales. BSC-based NFT sales jumped 58.89% higher this w

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized fees have slid below $4 per transaction. Moreover, layer two (L2) transaction fees have also dropped in recent times as the lowest L2 rate today is $0.03 per transfer. Average and Median Ethereum Fees Drop From mid-March up until the first week of April, Ethereum’s average network fees rose from a low of $5.98 per transfer to $43.41 on April 5, 2022. That’s an increase of 625% but after April 5, the average ether gas fee started to drop once again to much lower levels. Today, April 17, 2022, Ethereum’s average network fee to simply send ETH onchain via layer one (L2), is 0.0034 ETH or $10.32 per transfer. The average network fee is dynamic, not an exact science, and it always changes. It’s also not a hard mandate as the average fee simply represen

Another spicy week of crypto news heads into the weekend, with Mexico’s third-richest billionaire advising “save your skin” from hyperinflation by buying bitcoin, Shark Tank star Kevin O’Leary predicting that bitcoin mining will “save the world,” Bitcoin.com News noting eerie similarities between the current great monetary shift and the creation of the U.S. Federal Reserve, and SHIB achieving some notable burn statistics. Without further ado, this is your bite-sized digest of the week’s hottest crypto news, the Bitcoin.com News Week in Review. Buy Bitcoin, ‘Save Your Skin’ — Mexico’s Third Richest Billionaire The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s. He warned: “The bad news is that the U.S., and Japan, and the U.K., and the euroblock — they are going exactly the sam

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs will come with the physical skateboards signed by Hawk. Tony Hawk to Drop Another NFT Collection via Autograph Tony Hawk has plans to launch another NFT collection tied to the skateboards he used in his “Last Trick” NFT collection launched in December. The “Last Trick” digital collectibles compilation was sold on the Autograph NFT marketplace, a platform launched by the seven-time Super Bowl champion Tom Brady. Hawk announced the latest NFT sale of the last trick skateboards on Saturday, and explained that an individual named Garry DeBoer was randomly chosen to win his Frontside Cab board. Autograph tweeted about the event as well on Saturday and said: “Congrats to Autograph collector Garry DeBoer. A piece of Tony Haw

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)’s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real Estate Tokenization Creates Investment Opportunities Oman Capital Market Authority (OCMA) is set to include real estate tokenization in its virtual asset regulatory framework, a report quoting an advisor of the authority has said. According to the report, Oman expects to complete drafting the virtual assets regulatory framework by Q3 of 2022. The advisor, Kemal Rizadi is reported to have made the remarks about tokenizing real estate property while attending the Real Estate Exhibition and Conference that was held in Muscat, Oman. “The Regulatory Framework for Virtual Assets and Virtual asset service providers currently being established will allow the issuance of virtual assets such as real estate tokens for

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this new test will include a fixed supply of the mentioned token, and detailed this pilot will be executed during the last six months of this year. Central Bank of Brazil Advances CBDC Project The Central Bank of Brazil has offered details about the advancements it has made regarding its CBDC project, the digital real. Its president, Roberto Campos Neto, hinted at an unspecified test involving the usage of the currency during the final six months of this year. At an event, he declared: This is a way to create currency digitization without creating a break in bank balance sheets. This project should have some kind of pilot in the second half of the year. Campos Neto also gave hints about the way in which this currency will be used, sayin

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s important for the entire crypto industry in the United States.” Ripple’s CEO Comments on SEC Lawsuit Over XRP Ripple CEO Brad Garlinghouse discussed the SEC lawsuit over the sale of XRP during a fireside chat at the Paris Blockchain Week Summit Thursday. The U.S. Securities and Exchange Commission sued Ripple, Garlinghouse, and co-founder Chris Larsen in December 2020 over the sale of XRP , which the securities watchdog said is an unregistered security offering. Ripple has disputed the SEC’s findings, insisting that XRP is not a security. Garlinghouse shared: The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago. However, he noted that “the wheels of justice move slowly.” In November

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that hyperinflation and depression are here. He also warned that the biggest bubble burst is coming, advising investors to buy gold, silver, and bitcoin. Robert Kiyosaki’s Latest Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, gave a series of warnings regarding the U.S. economy Friday. 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 that a Wile E. Coyote moment and the biggest bubble burst are coming. Claiming that hyperinflation and depression are here, the famous author recommends buying gold, silver, and bitcoin “before the coyote wakes up.” The author of Rich Dad Poor Dad opined that baby boomers’ retirements will be “stolen” and that the $10 trillion in fake

A district court in Moscow has arrested a man whom local media reports identify as Dmitry Pavlov, alleged administrator of the recently shut down darknet market Hydra. Russian authorities believe he has been involved in drug-related crime punishable by up to 20 years in prison. Moscow Court Arrests Russian Believed to Be Hydra Administrator Meshchansky District Court of Moscow has taken into custody a certain Dmitry Olegovich Pavlov accused of production, sale, and distribution of drugs under Russia’s Criminal Code, the “Moscow” City News Agency reported this week, quoting the court’s press service. Pavlov, who was arrested on Monday, April 11, has the same names as a 30-year-old Russian citizen and resident charged for similar offenses in relation to his alleged role as an administrator of the recently busted Hydra Market, one of the largest marketplaces on the darknet . Earlier this month, German law enforcement seized Hydra’s server infrastructure in the country and took dow

The Brazilian Congress is trying to approve a cryptocurrency legal framework before the end of Q2. According to reports from local media, The proponents of the different law projects presented in the Senate and the Congress have stated they will seek the unification of the projects due to their similarity. This new unified project presents incentives for green mining and the inclusion of crypto-related fraud as a crime. Brazilian Congress Moves Gears to Approve Crypto Laws The Brazilian Congress has the disposition of approving a definitive law to regulate cryptocurrency before Q2 ends. According to local media , the rapporteurs of two different proposals seeking to regulate crypto interactions in the country will combine these two documents to present a unified version of them. Senators Iraja Abreu and Deputy Aureo Ribeiro will prepare this text, which will be on track for approval later this month. Abreu has already combined three proposals, and he will ask the Senate for these

Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin that is based on the same blockchain network. Phased Adoption of the Solutions The Democratic Republic of Congo (DRC) is reportedly considering issuing a national stablecoin that is built on blockchain, a statement released by The Open Network (TON) has said. In addition, the DRC, along with Cameroon and the Republic of Congo, are planning to adopt cryptocurrency and blockchain-based solutions powered by the TON. According to TON’s statement , the announcement of the blockchain entity’s plan to deliver these solutions follows its successful engagements with each of the three countries. Adoption of TON’s crypto and blockchain solutions by the three countries will be phased, the statement suggested. De

PRESS RELEASE. Universe Island is an action packed classic, third person shooting game that rewards players with $UIM tokens . These tokens fuel the Play-to-Earn ecosystem of the game and is scheduled to get listed at PancakeSwap on 18 th April 2022 . The launch of the beta version of the game and NFT marketplace would shortly follow. The NFT Marketplace will allow players to stake UIM tokens to activate lootboxes , get special monthly NFT airdrops , governance rights on decision for the game as well as access to Whitelist after 6 months of staking! The NFT cards will provide unique boosts for characters and can be traded at the NFT marketplace via UIM tokens with no additional fees or be displayed at the Metaverse Gallery . Furthermore, these NFT cards can also be viewed by players on characters in their real-time environment with our Augmented Reality (AR) Technology ; thereby making Universe Island the first Play-to-Earn game enabling its players to view their heroe

Crypto and blockchain firms constituted 16% of the 655 new company registrations that were recorded in Q1 of 2022, the Dubai Multi Commodities Centre (DMCC) has said. The surge in crypto-related registrations also coincided with a quarterly period in which the DMCC is reported to have recorded its “highest Q1 performance” since inception. Rise in Registrations Attributed to the Launch of DMCC Crypto Centre One of the UAE’s largest free zones, the Dubai Multi Commodities Centre (DMCC), has said 16% of the 655 new company registrations recorded in Q1 of 2022 were crypto and blockchain firms. The DMCC has attributed this surge in crypto and blockchain companies joining the free zone to the presence of the DMCC Crypto Centre, which was launched in May 2021. According to a statement released by DMCC, the rise in the number of new registrations by crypto firms came during a quarter that has been named “the highest Q1 performance since 2002 inception.” In the statement, Ahmed Bin Sulayem