Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Bitcoin.com , a digital ecosystem and secure self-custody platform where users can accessibly and safely interact with cryptocurrencies and digital assets , is launching the Verse Development Fund, an initiative to accelerate growth and innovation in Bitcoin.com ’s Verse ecosystem. In addition, the fund will empower projects that embody Bitcoin.com ’s ethos of economic freedom and democratized finance. “Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their digital asset investing journeys,” said Bitcoin.com CEO Dennis Jarvis. “So far, we’ve built an incredible portfolio of products and services used by over 4 million individuals monthly. The Verse Development Fund will be the instrument by which we leverage this diverse and passionate community’s energy into building an even stronger ecosystem with even more popular appeal.” The fund, which will start accepting grant applications from developers and other ecos

After Robinhood Markets launched the company’s beta Web3 wallet on Tuesday and listed the stablecoin usd coin on the exchange platform Robinhood Crypto last week, the company announced a strategic partnership with Circle Financial. The deal revealed on Wednesday will provide Robinhood Crypto and Robinhood Wallet users with the ability to purchase and sell usd coin, and access “exclusive in-app educational modules to earn USDC rewards.” Robinhood and Circle Partner to Offer USDC Accessibility On Wednesday, Robinhood Markets (Nasdaq: HOOD ) published an “Under the Hood” blog post that explains the California-based financial services company has joined forces with Circle . Robinhood details that the stablecoin usd coin (USDC) is the “first stablecoin available to buy and sell on Robinhood Crypto and on the new Robinhood Wallet (currently in beta).” “USDC will play a crucial role in helping our customers get their dollars into Web3 through a trusted and transparent source,” Johann K

On Wednesday, the decentralized oracle network platform, Chainlink, announced the launch of a market-wide interest rate product for Web3 protocols and the decentralized finance (defi) economy, called the CF Bitcoin Interest Rate Curve (CF BIRC). Chainlink revealed the new product at Smartcon 2022 in New York City, and the newly launched CF BIRC product aims to provide “a reliable and transparent base rate” for Web3 market participants. Chainlink and CF Benchmarks Launch Manipulation-Resistant Base Rate CF BIRC Chainlink has made a number of announcements during the Smartcon 2022 event in New York City. For instance, on Wednesday the smart contract and oracle network project revealed a program called the Sustainable Chainlink Access for Layer 1 & 2 Enablement otherwise known as SCALE. “SCALE is a holistic and win-win economic model for both blockchains and the Chainlink Network,” Chainlink tweeted on September 28. “As [layer one and layer two] userbases expand, fees from [de

The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed: We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking. Villeroy de Galhau added that “unduly complex” crypto regulations could fall short of investor protection and money laundering prevention. The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in Septemb

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” Powell explained that the Federal Reserve is looking very closely at “the potential costs and benefits” of issuing a central bank digital currency (CBDC) in the U.S. He detailed: We are looking at it very carefully. We are evaluating both the policy issues and the technolog

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto asset’s market valuation is around $​​48.82 billion. Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12% In mid-June, Bitcoin.com News reported on the largest stablecoin asset tether (USDT) , as USDT ’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%. However, USDC’s market cap has shrunk a great deal during the last 83 days, as it has dropped by $6.7 billion since July 7, 2022 . At the time of writing, at 4:15 p.m. (ET) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 billion. US

PRESS RELEASE. InVar Finance has recently built InVaria2222 , the RWA tokenization world, which is currently in its first stage. InVar intends to create hybrid financial services by bridging the crypto sector with the real economy, such as TradFi with DeFi and RWA tokenization, which pertains to real-world assets. It all began in the RWA tokenization world when InVaria2222 leveraged traditional real estate investment to provide transparency, accessibility with low frictions, and higher composability. What’s there to know? The team cultivates strong relationships with regulators, real estate developers, and critical strategic financial institutions to foster the new paradigm of RWA investment innovation and broader crypto adoption. Regarding the potential of RWA tokenization, the real estate industry alone can generate significant funds flown into the crypto space. Moreover, with a global real estate market worth over a whopping $300 trillion, tokenizing just 1% of the market woul

The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an alleged metaverse software development scheme, and another firm claimed to be a “decentralized finance (defi) platform.” 11 Crypto Firms Targeted by California’s Department of Financial Protection and Innovation California’s financial regulator the DFPI has been targeting crypto asset companies and on Tuesday, the financial watchdog launched a “crackdown” against close to a dozen digital currency-centric entities. The DFPI “issued desist and refrain orders against 11 different entities for violations of California securities laws,” the regulator said on September 27. The state’s regulator further noted that the operations are accused of running a pyr

Crypto exchange Binance is reportedly seeking to reenter the Japanese crypto market. The company exited Japan four years ago after the country’s financial regulator warned that Binance was operating illegally without a license. Binance Wants Back in Japan Crypto exchange Binance is seeking a license to return to the Japanese crypto market, four years after exiting the country, Bloomberg reported Monday, citing people familiar with the matter. The key reasons behind Binance’s renewed interest in Japan are the Japanese government’s easing regulatory approach to crypto and substantial potential for user growth, according to one of the people. A spokesperson for Binance told the publication that the company is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.” However, the spokesperson would not comment on specific license applications, noting that “It would be inappropriate to comment

PRESS RELEASE. The preservation of the Euro sculpture in downtown Frankfurt, Germany, has been in danger in recent months as no sponsors were willing to provide the required financing. At the same time, the costs of maintaining the sculpture have risen considerably, mainly due to increased levels of vandalism. The independent non-profit association Frankfurter Kultur Komitee e.V., the owner of the Euro sculpture, would have been forced to have the sculpture auctioned off as a last resort by 15 October 2022 if no one had stepped forward to help. Because of this situation and the resulting discussion in the media, the issue became a hot topic. Through this media attention, the Frankfurt company CAIZ Development GmbH became aware of the problem. As a local company with its roots firmly in the financial centre, they quickly decided to develop the financing necessary for the Euro sculpture to remain in Frankfurt. CAIZ Development is a fintech company headquartered in Frankfurt, and it

On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, 2022, over a month later the company filed for Chapter 11 bankruptcy protection. Just recently, leaked audio from Celsius executives suggested the firm might try to leverage an IOU crypto to pay investors back. Three days following that report, Celsius Network CEO Alex Mashinsky told the public in a press release that he has resigned from his post. “Effective immediately, please accept my resignation as CEO of Celsius Network Ltd, as well as my directorships and other positions at each of its direct and indirect subsidiaries, with the exception of my director position at Celsius Network Ltd,” Mashin

After bitcoin neared $25K roughly 44 days ago, the crypto asset’s price has lost more than 17.88% in value against the U.S. dollar. Onchain analysis from researchers at Glassnode details that the price drop has placed short-term holders into “severe unrealized loss.” Long-term holders, on the other hand, are holding strong and Glassnode researchers say numerous metrics are “displaying a full cycle detox.” Long-Term Bitcoin Holders Hold Tight The crypto bear market continues to plague short-term holders, according to a recent onchain newsletter written by Glassnode and Ukuria On-Chain . While bitcoin ( BTC ) has lost 17.88% in value against the U.S. dollar since August 14, 14-day statistics show BTC is down roughly 9.3%, and year-to-date, bitcoin has shed 53.2%. Furthermore, since the crypto asset’s lifetime price high, 11 months ago on November 10, 2021, BTC is down 71.3%. Glassnode’s newsletter published on September 26 highlights the Bitcoin Realized Cap HODL Waves chart whic

Following a turbulent start to the week, bitcoin was back in the green on Tuesday, as the token climbed back above $20,000. The move saw prices race to their highest point in nearly two weeks, moving past a key resistance level in the process. Ethereum was also trading higher, as it neared the $1,400 level. Bitcoin Bitcoin ( BTC ) neared a two-week high on Tuesday, as the token rebounded following a recent bearish spell. Following a bottom of $19,006.11 to start the week, BTC /USD raced to an intraday peak of $20,294.34 on Tuesday. This is the highest point that the token has traded at since September 14, and is marginally above a resistance level of $20,250. As of writing, BTC is still trading slightly above this ceiling, with the 14-day relative strength index (RSI) also tracking above a similar threshold. Currently the index resides at a reading of 52.72, which is above its own resistance level of 49.00. Should price strength continue to move in an upward direction, then we

Nubank, a Brazil-based digital bank, has announced a new milestone in its operations. The company announced that it has reached 70 million customers in Latam, making it one of the biggest financial institutions of its kind in Brazil. The company also announced that almost 2 million of its customers are cryptocurrency investors. Nubank Reaches 70 Million Customers; Crypto Customers Reach 1.8 Million Latam has become fertile ground for companies providing alternative finance and cryptocurrency-based services, due to its unique set of circumstances. Nubank, a Brazil-based digital neobank, has recently reached a milestone in the region, announcing it now serves 70 million customers. Most of these customers, as expected, are based in Brazil. However, the neobank has also managed to get into other markets, such as Mexico, where the company has 3.2 million customers, and Colombia, with 400,000 customers. The products of the company that have experienced the most significant growth include

PRESS RELEASE. RebusChain, a platform set to take DeFi mainstream, is going public by announcing its public coin distribution (PCD) late this Summer. The PCD means those supporting its mission can now acquire coins via liquidity bootstrap pool (LBP) on the Osmosis network, and this marks a significant milestone in the Rebus project, following successful announcements of various financial and platform partnerships. The founding team at Rebus features unique foundations in entrepreneurship, cyber security, traditional finance, and the emerging DeFi field. CTO and COO Pier Stabilini and Nicola Onassis, respectively, have experience working together and starting new businesses. When introduced to Paolo Baroni, Financial Product Lead, the three saw an immediate opportunity to do something big, and Rebus was born. Typical of new technology markets, the DeFi space is quite nuanced and still developing. However, all people should have access to blockchain-based transaction tools–it’s the m

One of the world’s biggest cryptocurrency exchanges by volumes traded, Binance, has said its futures products are now available to eligible South African users. In a message to its users, Binance suggested it has rectified issues with the regional regulator and that its activities in South Africa are now above board. Products Offered Unchanged Almost a year after Binance blocked South African users from accessing its futures trading platform, the crypto exchange has said perpetual and delivery futures contracts are now available to eligible users from the country. In a statement, the crypto exchange told its users that the type of futures products being offered has “not changed from Binance’s previous futures offering in South Africa.” The cryptocurrency exchange however said it had altered the way such product offerings are provided to South African users. As reported by Bitcoin.com News in October 2021, Binance said it would stop South African users from accessing its “futures,

Telefonica, one of the largest telecom carriers in Spain, and Qualcomm, the fabless chip designer, have inked a partnership to advance joint extended reality and metaverse initiatives. Telefonica will use Snapdragon Spaces, a new technology from Qualcomm, to bring these metaverse experiences to its customers. The agreement also includes the possibility of pursuing joint commercial opportunities. Telefonica Partners With Qualcomm to Bring Metaverse Experiences to Its Customers Telefonica, one of the biggest telecom carriers in Spain and Europe, has announced a partnership with Qualcomm, the chip maker, in order to collaborate in the production of metaverse-related initiatives. The agreement establishes that the telecom infrastructure of Telefonica will serve as a platform to deploy experiences produced with Qualcomm technology. This technology, named Snapdragon Spaces, is a full stack of programs that allow designers to focus on developing these experiences, especially for augmente

The global law enforcement agency the International Criminal Police Organization (Interpol), issued a notice for Terraform Labs co-founder Do Kwon just a few weeks after a warrant for his arrest was issued by South Korean authorities. The red notice enables South Korea to receive help from global law enforcement bodies in locating and “provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.” Global Manhunt for Terraform Labs CEO Just a few weeks after South Korean authorities issued an arrest warrant for Do Kwon and his associates, the global law enforcement agency the International Criminal Police Organization (Interpol) has reportedly issued a red notice for the Terraform Labs co-founder. The issuing of the notice follows reports that Kwon is not residing in Singapore as Korean authorities initially thought. According to Interpol, red notices are “issued for fugitives wanted either for prosecution or to serve a sentence.” The red notice enabl

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state securities regulators concerning the company’s Earn Interest Product (EIP). The state of California insists that since June 2020, Nexo has “offered and sold unqualified securities, in the form of Earn Interest Product accounts, to the United States public at large and to California residents.” The state of New York and attorney general Letitia James filed a lawsuit against Nexo. Similarly, the state of New York and James say that

The South African financial services giant, Nedbank, is reported to have acquired a village in the metaverse. The village will be used to showcase African creativity and to create experiences that “go beyond banking.” By securing a virtual property in Ubuntuland, Nedbank became one of the first financial institutions in Africa to embrace the metaverse. Showcasing Africa’s Creativity Nedbank, the South African financial services group, recently secured a “village” in the Ubuntuland metaverse which reportedly measures 12 by 12. By securing the village, which will be used to showcase African creativity, Nedbank is said to have become one of the first financial institutions on the African continent to embrace the metaverse. According to a Bloomberg report , the financial services group has partnered with Africarare, the creators of Ubuntuland. Remarking on Nedbank’s entry into the metaverse, Khensani Nobanda, the financial giant’s marketing and corporate affairs executive, said that he