Bitcoin News and Finance: What You Need to Know

After the Republican House of Representatives speaker, Kevin McCarthy, directed the House to open an impeachment inquiry into Joe Biden, bettors on the cryptocurrency-powered Polymarket platform have started placing bets on whether Biden will be impeached by two specific dates. Currently, bettors are wagering against impeachment on or before two specific dates: September 30, 2023, and December 31, 2023. Polymarket Bettors Predict Slim Odds for Biden’s Impeachment In both traditional and decentralized betting circles, gamblers are placing bets on whether Joe Biden will be impeached after House speaker Kevin McCarthy initiated an inquiry into Biden on September 12, 2023. McCarthy and other GOP House members contend that U.S. president Biden may have misled Americans regarding his son Hunter Biden’s overseas business dealings. Specifically, Biden is accused by McCarthy and others of alleged “abuse of power, obstruction and corruption.” “I am directing our House committees to open a

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Brazil, Argentina, and Mexico are present in Chainalysis’ 2023 Global Crypto Adoption Index; Argentine presidential candidate Javier Milei blames socialism for Argentina’s economic decline, and Bull Bitcoin expands to Costa Rica. Brazil, Argentina, and Mexico Among the Countries With Most Crypto Adoption Brazil, Argentina, and Mexico are among the 20 countries in the world where cryptocurrencies are used most, according to the Chainalysis 2023 Global Crypto Adoption Index, a yearly report that seeks to estimate the countries where the most grassroots crypto adoption is located. According to several metrics, Chainalysis estimated that India, Nigeria, and Vietnam were the three countries with the most crypto adoption in the world, as the company acknowledged that while global crypto grassroots adoption was down, it was growing in lower medium-income

PRESS RELEASE. La Jolla, California – September 18th, 2023 – Presearch is a revolutionary platform that is changing the way people search the internet. Presearch is a decentralized search engine designed to empower users, respect their privacy, and provide a better search experience. It is powered by almost 70,000 user computers (nodes) in more than 100 countries. In a world where Big Tech search engines dominate the web with monolithic force, Presearch stands apart as a user-centric, privacy-focused, and community-driven alternative. Why Presearch Matters Traditional search engines are subject to censorship, collecting vast amounts of user data, invading privacy, tracking and profiling users for profit, while controlling the world’s access to information. “The world needs a search engine that is created by the people, for the people, in a way that protects privacy, can’t be censored and runs on decentralized infrastructure to provide resilience. That’s what we’re building here w

Softbank, one of the largest investment management conglomerates in the world, is reportedly eyeing several investments in the artificial intelligence (AI) field after having paused its crypto investments. According to the Financial Times, Softbank founder and chief executive officer Masayoshi Son is prepared to put tens of billions of dollars into AI, with Microsoft-backed Openai being one of these potential opportunities. Softbank Reportedly Prepared to Invest Billions in AI Initiatives Softbank, the Japanese investment management conglomerate, is considering entering the field of artificial intelligence (AI) investments, according to reports from the Financial Times. According to two people familiar with the matter, Softbank’s founder and chief executive officer Masayoshi Son is considering putting “tens of billions of dollars” into AI-related investments, with a partnership with Microsoft-backed Openai also in the company’s sights. The company posted a net loss of $3.3 billio

A Hong Kong Legislative Council member has assured Ethereum co-founder Vitalik Buterin that the friendly cryptocurrency policies in Hong Kong are “very stable.” In response to Buterin’s comments expressing his unfamiliarity with Hong Kong and its “complicated interaction” with Mainland China, the legislator has extended an invitation for the Ethereum co-founder to visit Hong Kong and acquire a deeper understanding of the city’s crypto regulations. Hong Kong’s Legislator Responds to Vitalik Buterin’s Crypto Policy Comments Johnny Ng, a member of Hong Kong’s Legislative Council, has responded to the remarks by Ethereum co-founder Vitalik Buterin regarding Hong Kong’s crypto policies. Buterin cautioned crypto projects seeking to set up operations in Hong Kong at this year’s Web3 Transition Summit in Singapore which took place on Sept. 4. “Yesterday, Ethereum founder Vitalik Buterin shared his views on the development of virtual asset projects (cryptocurrencies project) in Hong Kong. I

Many crypto proponents have warned that despite a small connection between Blackrock and XRP , the news of the world’s largest asset manager shifting focus from bitcoin to XRP is fake. Blackrock is currently waiting for the U.S. Securities and Exchange Commission (SEC) to greenlight its spot bitcoin ETF application. Crypto Proponents Doubt Veracity of Blackrock- XRP Rumors Over the past few days, rumors have circulated on social media that Blackrock, the world’s largest asset manager, is shifting its crypto strategy from bitcoin to XRP . One of the widely shared articles was published by Investing.com, titled “Blackrock rumored to shift crypto focus from Bitcoin to XRP .” The article explicitly disclosed that it was “generated with the support of AI and reviewed by an editor.” Many people within the crypto community doubt the veracity of the news, pointing out that the claim is unsubstantiated and lacks credible sources. Some flat-out called it fake news, including crypto influe

Nine U.S. lawmakers have thrown their support behind the Digital Asset Anti-Money Laundering Act, recently reintroduced in Congress by Senators Elizabeth Warren, Roger Marshall, Joe Manchin, and Lindsey Graham. Experts have warned that this crypto bill is the most direct attack on the privacy and personal freedom of cryptocurrency users. Digital Asset Anti-Money Laundering Act Gains Support Nine U.S. lawmakers have joined Senators Elizabeth Warren (D-MA), Roger Marshall (R-KS), Joe Manchin (D-WV), and Lindsey Graham (R-SC) in support of the Digital Asset Anti-Money Laundering Act . The bill aims to “close loopholes in current law and bring cryptocurrency companies into greater compliance with the anti-money laundering and countering the financing of terrorism (AMF/CFT) frameworks that govern much of the financial system,” the lawmakers described. Senator Warren first unveiled the bill in December last year. In July, Senators Warren, Marshall, Manchin, and Graham reintroduced the b

The best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, says “crypto is the future.” In contrast, he said fiat currencies, including the U.S. dollar, are “toast.” He referred to fiat money as fake money, while gold and silver are “God’s money” and bitcoin is “people’s money.” Robert Kiyosaki Sees Crypto as the Future The author of Rich Dad Poor Dad, Robert Kiyosaki, believes that cryptocurrency is the future. 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. In a post on social media platform X Saturday, Kiyosaki noted that there is a “massive crypto conference” going on in Singapore, emphasizing that it’s “very exciting.” The famous author added: Crypto is the future. Fiat…a.k.a. FAKE money is toast. Kiyosaki has long cautioned that fiat currency’s days are numbered.

As nations become more authoritarian, the crypto economy and its related technologies stand out as powerful counterpoints to overreaching governance. The following Learning and Insights editorial explores why libertarians, especially agorists, embrace digital currencies such as bitcoin and tools of the crypto economy in pursuit of greater individual freedom for all. Crypto’s Liberation: Empowering Individual Freedom Amidst Growing Authoritarianism Last week, Bitcoin.com discussed how bitcoin ( BTC ) applies to Carl Menger’s theory of money and how prominent libertarian economists perceive the evolution of money. The following is an examination of why libertarians and individuals described as agorists believe the crypto economy helps fuel the counter-economy. Agorism advocates, also known as agorists, bolster counter-economic activity, which involves voluntary exchanges and arrangements that circumvent the state’s regulations, restrictions, taxation, and interventions. Counter-e

Binance founder Changpeng Zhao has commented on the latest executive departures from his company’s American branch. The changes in the U.S. crypto trading firm’s management, including the release of its chief executive, followed similar developments at the global exchange. CZ Urges Followers to Ignore Binance US FUD, Says Regulatory Environment Requires New Head Binance founder and CEO Changpeng Zhao (CZ) took to X, formerly Twitter, to address “some speculation regarding recent management changes” at Binance’s branch in the United States. His tweet follows news that the Miami-based entity’s chief executive is leaving . “Brian Shroder is taking a deserved break after accomplishing what he set out to do when he joined two years ago. Under his leadership, Binance US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share, all of which helped to build a more resilient company for the benefit of customers,” CZ said

As cryptocurrencies continue to evolve, two key consensus mechanisms have emerged for validating transactions on the blockchain: proof-of-work (PoW) and proof-of-stake (PoS). This explainer will examine how these protocols differ and the unique benefits and drawbacks of each. Consensus Mechanisms in Cryptocurrency Proof-of-work (PoW), first introduced by Bitcoin in 2009, requires miners to compete to add new blocks to the blockchain. By expending significant computational power, miners prove that the work was done to validate transactions. The first miner to win the race and discover a block is rewarded with newly minted cryptocurrency. PoW relies on decentralized consensus – no single entity controls the network. However, its critics consider it incredibly energy-intensive. Proof of stake, first conceptualized in a bitcointalk.org thread in 2011, works differently than PoW. Rather than miners, PoS networks have “validators” who stake or lock up their coins to participate in tr

Hacking groups linked to North Korea are increasingly using exchanges in Russia to launder crypto, Chainalysis revealed. The shift in their strategy, registered by the blockchain forensics firm, coincides with a drop in the value of the stolen cryptocurrency this year in comparison with the record-breaking 2022. Chainalysis Report Alleges New Alliance Between North Korean and Russian Cybercriminals Onchain data examined by crypto analytics company Chainalysis suggests that hackers associated with the Democratic People’s Republic of Korea (DPRK) are more and more often using cryptocurrency exchanges based in the Russian Federation to launder illicit digital assets. The release of the report coincides with a summit of the leaders of the two sanctioned nations, Kim Jong-un and Vladimir Putin, who met for suspected arms talks. It also comes as U.N. sanctions monitors are drawing attention to Pyongyang’s changing tactics in cyberattacks against crypto and financial exchanges seeking t

Despite Kenyan Interior Minister Kithure Kindiki’s recent attempt to revive the old crypto terrorism funding narrative, evidence suggests that criminal elements primarily use conventional financial systems when transferring funds. Contrary to Kindiki’s claims, crypto transactions can be traced and this is evidenced by the arrests of hackers and seizure of stolen crypto assets. Debunked Evidence When the Kenyan interior minister Kithure Kindiki appeared before a parliamentary committee investigating Worldcoin’s activities, he used the opportunity to reiterate the government’s opposition to cryptocurrencies. Throughout his presentation, Kindiki repeatedly tried to link cryptocurrencies with money laundering and terrorism funding. Although some of the “evidence” presented by Kindiki has been disproved, the Kenyan minister’s remarks may nonetheless be included in the parliamentary committee’s final report. There is a possibility that such a report as well as Kindiki’s presentation may

While the gold bug and economist Peter Schiff insists the U.S. economy will experience a financial crisis of epic proportions, his son Spencer continues to espouse a diametrically opposed view of the future. Spencer Schiff is an ardent supporter of artificial intelligence (AI), and in recent times, he has been forecasting that the latter half of the 2020s will witness an “enormous hyper-deflationary economic boom.” Schiff Saga: Father and Son Differ on U.S. Economic Fate Following our report on Spencer Schiff ‘s change in perspective on bitcoin (BTC) , the younger Schiff has persisted in sharing his future predictions. Spencer’s forecast sharply contrasts with that of his father, Peter Schiff , the renowned advocate for gold and economist. Recently, his father cautioned of a “massive crisis” and predicted a rush of people exiting the U.S. dollar. Peter Schiff elaborated on the looming prospect of a significant flight from the U.S. dollar, driven by the persistent specter of colos

Argentina faces hyperinflation, with the annual inflation rate at its highest since the early ’90s. The country’s general election is set for next month, and economist Javier Milei is projected to win by a wide margin. In a recent interview with Tucker Carlson, Milei attributed Argentina’s hyperinflation to the failures of socialism. ‘Frogs in a Pot of Water’ Is a Good Analogy for Argentina’s Slow Economic Decline, Says Milei On September 14, 2023, Carlson posted an interview on the social media platform X with Argentine economist, businessman, and politician Javier Milei . The La Libertad Avanza political coalition leader discussed inflation and other topics, including abortion and climate change, with the former Fox News anchor. Milei pointed to socialism and the state for the country’s economic woes. His advice to the world: Never embrace socialism … or the siren song of social justice. In the video, Carlson remarks on Argentina’s beauty but notes that diners at restaurants

Sony Network Communications, part of the Sony Group, entered into a joint initiative to create a blockchain project that aims to serve as the “backbone of global Web3 infrastructure.” The new company, created with Startale Labs, a Web3 development startup, aims to provide “value-added services” in different areas. Sony Network Announces Joint Blockchain Initiative Sony Network Communications, part of the Sony Group that focuses on providing communications infrastructure services, has announced that it entered a joint venture to develop a blockchain to become “the backbone of global web3 infrastructure.” This new blockchain technology will be leveraged to create “killer Web3 use cases to drive the adoption of Web3,” according to a joint press release. The joint venture, which will be created in collaboration with Startale Labs, a Web3 development company, will provide value-added services for companies of the Sony Group in several key areas, including game and network services, mus

At the Token2049 conference in Singapore, Astar Network revealed it is joining forces with Polygon Labs to launch Astar zkEVM, a new Ethereum layer two scaling solution utilizing zero-knowledge proof technology. The collaboration aims to drive greater adoption of Web3 applications in the Japanese market and beyond. Astar and Polygon Launch zkEVM for Japan’s Web3 Rise The announcement details that the partnership combines Astar ‘s experience working with major Japanese companies like Sony and Toyota with Polygon ‘s highly scalable zk-powered infrastructure. Together, the teams plan to create an optimal platform for launching blockchain initiatives in Japan, where government leaders have voiced support for Web3 innovation. “As it stands today, Asia is one of the most forward-thinking regions in the world when it comes to Web3 adoption, and we are delighted to help Japan’s blockchain sector grow even faster via our collaboration with Astar,” said Polygon co-founder Sandeep Nailwal

Nearly $4.8 million has been used to fund cryptocurrency and blockchain education efforts in Kenya, the CEO of Tools for Humanity, Alex Blania, recently revealed. Blania also denied allegations that Worldcoin plans to sell users’ biometric data obtained via its eyeball-scanning orbs. More Funding on the Way Tools for Humanity (TFH), the organization supporting the development and growth of Worldcoin’s ecosystem, has so far invested nearly $4.8 million in Kenya, the software company’s CEO Alex Blania recently revealed. Speaking before the East African country’s parliament, Blania claimed that the money was used to fund cryptocurrency and blockchain education efforts. However, according to a report in The Star, TFH did not directly engage in such education-related activities. Instead, it relied on third parties and partners such as Strathmore University, the Blockchain Association of Kenya, the American Chamber of Commerce, and the Africa Blockchain Centre. According to Blania, TFH