Bitcoin News and Finance: What You Need to Know

Today, we’re thrilled to announce that UAE-based foreign exchange and worldwide money transfer company, Al Ansari Exchange has joined RippleNet. Through RippleNet Cloud, Ripple’s global cloud-based financial network technology, Al Ansari Exchange will connect with leading money transfer technology company MoneyMatch to provide same-day remittances to Malaysia.  This service will initially support transactions in Malaysian … Continued The post Al Ansari Exchange Taps RippleNet Cloud to Enable Cross-Border Remittances to Malaysia with MoneyMatch appeared first on Ripple. http://dlvr.it/S9yQKb

The spot price of bitcoin smashed through the leading crypto asset’s all-time high (ATH) surpassing $66,000 per unit after the first bitcoin exchange-traded fund (ETF) was launched in the United States. The last time bitcoin touched an ATH six months ago on April 14, 2021, the price tapped $64,804 per unit. Bitcoin Records New All-Time Price High The fiat value of bitcoin (BTC) , measured in U.S. dollars, has reached an all-time high. The price has touched $66,299 per unit on Bitstamp , surpassing the digital asset’s ATH captured six months ago. At press time, there’s $39.6 billion in trade volume dedicated to bitcoin ( BTC ) trading. Bitcoin’s market cap is $1.223 trillion and it is the sixth most valuable asset on the planet today. Bitcoin’s ATH follows the launch of the Proshares Bitcoin Strategy ETF (BITO) that was listed on October 19, 2021. The bitcoin exchange-traded fund is the first ETF ever to be approved in the United States and it’s based on bitcoin futures markets

Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring Digital Assets to Reduce US Dollar Dependence In its efforts to counter the negative effects of expanding U.S. sanctions, the Russian Federation is putting an emphasis on “dedollarization,” Deputy Foreign Minister Alexander Pankin remarked in a recent interview with the Interfax news agency. The “purposeful work” aimed at limiting the influence of the U.S. dollar on the domestic economy and foreign trade operations is decreasing the “sanctions risks,” the high-ranking diplomat added. However, challenges associated with these sanctions still remain, and Pankin stated that Russia’s “settlements with major trading partners need

Binance USD (BUSD) has become one of the fastest-growing cryptocurrencies in the world, with a variety of use cases and growing demand amid the continued growth of the crypto markets. A key component to BUSD’s success is its unwavering compliance to the world’s most stringent regulatory standards, ensuring safety and security for all of the stablecoin’s users. Stablecoins have emerged as major players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency terms. These cryptocurrencies, whose market values are pegged to the worth of certain assets like the U.S. dollar, have also been important assets in the growth of decentralized finance (DeFi). There is $120 billion worth of stablecoins in circulation as of September 1, according to CoinMarketCap . Amid the rise in demand for stablecoins, various segments of the crypto industry have brought up questions about the veracity of the 1:1 peg of major stablecoins to their backing assets, like the U

Both Ethereum 2.0 and Polkadot are promising sharding-based protocols overcoming the scalability challenges facing legacy blockchains. Although slightly different, together, the Relay Chain and Beacon Chain represent another significant leap forward, especially for interoperability. Partitioning the Problem: Sharing the Load via Sharding Scalability has been a hotly debated topic after networks bumped up against the limits over the last year. Yet, long before it entered the mainstream conversation, developers postulated several angles of attack. Despite the triumphant launch of layer 2 approaches in 2021, layer 1 sharding solutions have long been in the pipeline. When it comes to partitioned blockchain protocols, Polkadot and Ethereum 2.0 represent the most prominent names pursuing this scalability avenue. These partitions, or shards, are a means of executing transactions in separate shards along with a protocol to send messages between shards. Through sharding, both networks del

The Ghanaian central bank is seeking to make its digital currency, the e-cedi, available to offline users, an official with the bank has said. Overcoming the Challenge of Limited Power According to Kwame Oppong, who heads fintech and innovation at the Bank of Ghana (BOG), the e-cedi is also expected to facilitate transactions without the need for power or connectivity. “Financial inclusion is limited by the availability of connectivity and power. What we hope to be able to do – and we’re one of the people pioneering this – is that the e-cedi would also be capable of being used in an offline environment through some smart cards,” Oppong is quoted explaining. Although a majority of Ghanaians — 84% of the population — is thought to have had access to electricity in 2019, according to World Bank Data only half of the country’s population had access to the internet back then. It is this lack of internet access that has compelled the Bank of Ghana to seek a solution that overcomes this

Novi, Facebook’s digital wallet, will launch a pilot program to test the functionality of the service in two countries: Guatemala and the U.S. The test will allow Novi to test all of its main functions and to evaluate what things need to be improved before launch. Novi will use pax dollars as the main currency during the test, but David Marcus, head Of Facebook Financial, stated they still plan to launch with Diem once it gets greenlighted by regulators. Novi Launches Test Pilot Sans Diem Novi, Facebook’s digital wallet, is now running a test pilot program of its wallet in two countries: Guatemala and the U.S. David Marcus, head of Facebook Financial, stated this “test pilot would test core feature functions” and their operational capabilities in customer care and compliance. Marcus also stated that the remittance corridor between these two countries was very important because most Guatemalans lack access to financial services, but have access to a smartphone. However, the pilot i

Circle announced today the launch of its trademark stablecoin USDC on top of the Hedera network. This action is part of the multichain commitment that Circle announced earlier this year, with the objective of further expanding the reach of the currency in the cryptocurrency market. With the addition of USDC as the first stablecoin in its ecosystem, Hedera aims to start developing its own decentralized finance (defi) environment, and it is now offering more than $2.5 billion in ecosystem grants. Circle to Support Hedera-Based USDC Circle, one of the leading crypto payment companies, has announced the launch of usd coin (USDC) on top of Hedera, a high-throughput blockchain network. With this move, Circle customers with a Circle Account will have the opportunity of leveraging the stablecoin on top of Hedera network to make payments and settlements like with any other supported network. The launch of the stablecoin on top of Hedera is part of an expansion strategy established by Circ

PRESS RELEASE. Fast-rising Blockchain gaming platform PlayDapp has revealed the addition of a Play-to-Earn feature on its flagship game ‘’Along with the Gods: Knights of the Dawn’’. This development is expected to build on the existing features offered by PlayDapp. Play-to-Earn gaming is a rising phenomenon that has gathered steam in recent months. This is due to the positive benefits, as gamers have more freedom to build the gaming economy and receive rewards for transacting in-game assets. PlayDapp’s flagship game, Along with the Gods’’ Knights of the Dawn already has massive traction with thousands of gamers competing for rewards in NFTs. Players can earn on the flagship game by collecting Hero and Rune NFTs and selling them to other players for PLA tokens and other cryptocurrencies. Adding the Play-to-Earn feature will expand the potential for earning, and gamers can now stake PlayDapp Town NFTs for daily and weekly rewards in PLA tokens. To be eligible for daily rewards (5 PLA

Blockchain data platform Chainalysis has announced that it is adding bitcoin to its corporate investment portfolio. This is the company’s first acquisition of cryptocurrency, the CEO revealed. Chainalysis is valued at $4.2 billion. Chainalysis’ First Acquisition of Cryptocurrency Blockchain data analytics firm Chainalysis announced Tuesday the addition of bitcoin to its balance sheet. Chainalysis will acquire bitcoin using the brokerage services of the New York Digital Investment Group (NYDIG), the bitcoin investment arm of Stone Ridge Asset Management. NYDIG will also provide custody of the coins purchased. Chainalysis has been NYDIG’s compliance technology partner since 2018. “Digital assets have emerged as an alternative asset class for consumers, enterprises, governments, banks, and financial institutions,” Chainalysis noted, adding that it “is laser-focused on its commitment to building trust in cryptocurrency as a digital asset.” Michael Gronager, co-founder and CEO at Chai

SEC Chairman Gary Gensler has shared why the U.S. Securities and Exchange Commission (SEC) decided to approve a bitcoin futures exchange-traded fund (ETF) to trade on the NYSE. Meanwhile, the Commission has not approved a spot bitcoin ETF. Why SEC Approves Bitcoin Futures ETF As the first futures-based bitcoin exchange-traded fund (ETF) in the U.S. debuted on the NYSE, the chairman of the U.S. Securities and Exchange Commission (SEC) explained why the regulator greenlighted a bitcoin futures ETF but not a spot bitcoin ETF. In an interview with CNBC Tuesday, SEC Chairman Gary Gensler reiterated that his agency “should be technology neutral, but not policy neutral.” He elaborated: What we’re trying to do is ensure to the best we can within our authorities to bring projects into the investor protection perimeter. “Bitcoin futures have been overseen by our sibling agency, the Commodity Futures Trading Commission [CFTC], which I was once honored and proud to serve there and that’s b

Cryptocurrency exchange Coinbase has partnered with the National Basketball Association (NBA). The Nasdaq-listed crypto company is now the exclusive cryptocurrency platform partner of the NBA, Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League, and USA Basketball. NBA’s First Cryptocurrency Platform Partnership The Nasdaq-listed cryptocurrency exchange Coinbase and the National Basketball Association (NBA) announced “a multiyear partnership” Tuesday. The partnership “makes Coinbase the exclusive cryptocurrency platform partner of the NBA, Women’s National Basketball Association (WNBA), NBA G League, NBA 2K League and USA Basketball,” the announcement details, adding: The deal, which marks the first cryptocurrency platform partnership for each league, will consist of unique content, innovations, activations and experiences from Coinbase to educate fans on the increasing advancements happening across the cryptoeconomy. The NBA G League, or the G League, i

The first bitcoin exchange-traded fund (ETF) launched in the United States and smashed records on Tuesday, capturing close to $1 billion in total volume. Eric Balchunas, the senior ETF analyst for Bloomberg said that the Proshares Bitcoin Strategy ETF (BITO) definitely “defied expectations.” Proshares Bitcoin ETF Commands Serious Volume Proshares Bitcoin Strategy exchange-traded fund ( BITO ) did well on its first day, as it closed the day at 4:00 p.m. (EDT) at $41.94 per unit. Meanwhile, the price of bitcoin ( BTC ) soared on Tuesday, tapping a high of $64,367 on the crypto exchange Bitstamp fifteen minutes after the closing bell on Wall Street. As the ETF shares swapped hands on the New York Stock Exchange (NYSE), BITO reached a daily high of over $42. Bloomberg Intelligence analyst James Seyffart tweeted at the end of the day: “Looks like the final tally is gonna be right around ~$990 million in trading for BITO on its first day trading.” Eric Balchunas, the senior ETF analyst

On Tuesday, Concierge.io, the exclusive travel service backed by Travala.com announced it added new luxury services in order to give crypto investors “a more premium experience to live out their travel dreams.” The concierge service for “the crypto world’s elite” details its added experiences like a seven-star igloo in Antarctica, all-inclusive African safaris, and a stay at a Japanese castle. Exclusive Travel Service Adds New Services The firm Concierge.io is the concierge service focused on cryptocurrencies and it leverages professional travel managers in order to provide customers with unique and luxurious experiences. The company is also backed by Travala.com , a crypto-friendly travel service that accepts a myriad of digital assets for payment. On October 19, Concierge.io announced the company has added new exclusive experiences to its luxury travel services so crypto investors can enjoy their riches in style. The firm has detailed it has already provided first-class stays

PRESS RELEASE. Chimeras successfully raised over $2 million in its latest fundraising round, which will help to fund the play-to-earn project’s market and product development. October 18th, 2021 – The Chimeras Play-to-Earn metaverse project has completed its funding round with the participation of leading blockchain venture companies, including Master Ventures, AU 21, Poolz, BullPerks, X21, OIG Invest, Panda Capital, Shima Capital, LVT Capital, Otis Capital and Lotus Capital. The round successfully raised over $2 million which the Chimeras team has earmarked for the metaverse’s product development and marketing campaigns, including the launch of its brand native token, CHIM. The team is also announcing the upcoming Chimeras initial DEX offering (IDO) on the Ignition , Poolz , and BullPerks platforms. The Poolz platform IDO will take place on October 26th, followed by the Ignition and BullPerks IDOs two days later on October 28th. Additionally, Chimeras are in the process of nego

The central bank of Iran is gearing up to begin the pilot phase of its digital currency project in the near future, its new head announced to representatives of local media. The monetary authority is also preparing to move forward with a plan to reform the legislation that governs its own activities. Iran Preps Pilot for Sovereign Digital Currency The “national cryptocurrency” of Iran will enter its pilot stage soon, the recently appointed Governor of the Central Bank of Iran ( CBI ) Ali Salehabadi has unveiled. Speaking to reporters after his first meeting with lawmakers, the high-ranking official said the regulator is now studying potential risks and benefits associated with the initiative. Quoted by IRIB News and the Financial Tribune, he explained: The pilot trial will start, once the Money and Credit Council approves it. Salehabadi, who has been heading the CBI since Oct. 6, did not provide any further details regarding the Iranian central bank digital currency ( CBDC ). Ac

Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data from bybt.com’s bitcoin futures’ open interest metrics, shows the Chicago Mercantile Exchange (CME) commands 15.54% of all the open interest in bitcoin futures tallied this week. Bitcoin Futures Open Interest Has Risen Significantly On Tuesday, October 19, 2021, the first exchange-traded fund based on bitcoin futures was launched in the United States. So far, Proshares Bitcoin Strategy ETF ( BITO ) is trading above the ETF’s initial value when the opening bell kick-started trading. Since the first bitcoin ETF is based on BTC derivatives markets, prior to the launch a large influx of bitcoin futures open interest was recorded by a number of analy

Following shiba inu’s 260% gains during the last 30 days, the third-largest meme-based crypto asset in terms of market capitalization, baby doge coin (BABYDOGE), has taken the lead in terms of market performance. Another meme asset, dogelon mars (ELON) has soared 286% this past week. Moreover, during the last seven days, baby doge coin’s price spiked 40% in value and over 3.4% in the last 24 hours. This Past Week Dogelon Mars and Baby Doge Coin Soared in Value While bitcoin ( BTC ) has spiked over the $60K zone and currently rests above $62K per unit, a number of other crypto-assets have followed the leading digital currency’s rise. The original and popular meme-based crypto-asset dogecoin (DOGE) has increased in value 6.4% during the last week, but two other meme cryptos have skyrocketed in recent times. As far as the top meme-based crypto assets, in terms of market capitalization, two unique tokens have seen massive gains. The spikes in value follow the second-largest meme-based

Hindu nationalist group Rashtriya Swayamsevak Sangh (RSS) has called on the Indian government to regulate cryptocurrencies. “The government has to ensure that it is regulated in the larger interest of the society,” the group reportedly said. Rashtriya Swayamsevak Sangh Calls for Crypto Regulation Mohan Bhagwat, head of the Rashtriya Swayamsevak Sangh (RSS), said during his speech at an annual event marking the Hindu festival of Dussehra Friday: Clandestine, uncontrolled currency like bitcoin has the potential to destabilize the economy of all countries and pose serious challenges. The RSS is a Hindu nationalist paramilitary group founded in 1925 by Dr. Keshav Baliram Hedgewar in Nagpur. According to the group’s website, any Hindu male can become a member of the group by attending an RSS shakha, a daily gathering. There is no formal membership procedure and there are no fees to join. The group’s website further states that the RSS does not keep a record of the number of members.

PRESS RELEASE. The ZoidPay Chrome extension will allow users to spend their cryptocurrencies on products, pay subscriptions, and even book flights with 40 + million online retailers. October 19th, 2021, Bucharest, Romania — ZoidPay has announced the launch of its Chrome Extension, allowing millions of users to shop using various cryptocurrencies with all online merchants across the world. Shop Easier than Ever Before The ZoidPay Chrome Extension is platform agnostic, letting shoppers connect to it using any digital wallet. Currently being rolled out in phases, the Chrome Extension will be available globally by November 2021. It promises to bridge the gap in making crypto adoption mainstream. Users can choose from any major cryptocurrency to make payments for their purchases on Walmart, Alibaba, MediaMarkt, Lazada, and eMag to name a few. Through the Chrome Extension, ZoidPay offers instant liquidity of up to $1 billion for crypto assets per day. Eduard Oneci, CEO and Co-found

Sandile Shezi, the young South African bitcoin trader who is facing fraud charges, has denied allegations he scammed shareholders in his Global Forex Institute. Shezi: Shareholders Signed Up for Education, Not Investments Despite his rejection of the allegations, a spokesperson for the country’s police told the Sunday Times newspaper that Shezi has agreed to turn himself in. As reported by Bitcoin.com News, a warrant for Shezi’s arrest had been issued after two aggrieved investors reported the bitcoin trader to the South African police. Now, as he contemplates turning himself in, Shezi — who is referred to as South Africa’s youngest millionaire — has also launched a spirited defense of his actions. He further beat back suggestions that the Global Forex Institute is a financial services provider. According to a report by the Sunday Times, Shezi said: These shareholders signed up, not for investments, but our education programme. Our training includes technical analysis, fundamen

One of the biggest asset managers in Brazil, Kinea, disclosed it made an exploratory investment in Ethereum. The announcement was made by Marco Aurélio Freire, manager of funds for Kinea, who stated the company had invested a small amount of its holdings in ethereum starting two months ago. Kinea, the investment arm of Banco Itau, has more than R$56 billion (about $10.2B) in assets under management. Kinea Looks Into Crypto Investments Kinea, one of the leading asset managers in Brazil, has made an exploratory investment in the cryptocurrency world. The company, which has a vast amount of assets under management, chose to invest in ethereum instead of in the most popular choice, bitcoin. Marco Aurélio Freire, manager of the funds of the company, declared to local media the investment was made two months ago. Freire did not disclose the amount of the investment but did say it was a small amount to test the market. Freire believes in the role of cryptocurrencies as a necessary asset

The National Police have issued a warning for a wave of cryptocurrency-related investment scams in Spain. The amount that has been lost in these kinds of investments recently is €240,000 related to just two complaints. However, there has been a rise in the complaints presented by citizens due to the popularity that these financial instruments are experiencing now. National Police Warn About Crypto Scams in Spain The National Police of Spain has issued a warning to citizens about the rise of cryptocurrency-related scams in the last few days. In the two more recent complaints the national police have received alone, crypto investors have lost €240,000 (~$278,385). These two complaints stem from the city of Navarra. This happens because the market is flooded with companies that offer cryptocurrency investment opportunities guaranteeing a high level of returns. But to guarantee these returns, the companies ask for high amounts of money as an investment. Many of these companies have pr