Bitcoin News and Finance: What You Need to Know

The U.S. Department of State’s Rewards for Justice program is offering a reward of up to $10 million “for information on foreign malicious cyber activity against U.S. critical infrastructure.” The department further said that “Reward payments may include payments in cryptocurrency.” The U.S. Department of State announced Thursday that its Rewards for Justice (RFJ) program is offering a reward of up to $10 million “for information leading to the identification or location of any person who, while acting at the direction or under the control of a foreign government, participates in malicious cyber activities against U.S. critical infrastructure in violation of the Computer Fraud and Abuse Act (CFAA).” Rewards for Justice is the State Department’s counterterrorism rewards program established by the 1984 Act to Combat International Terrorism. The bureau is administered by the Diplomatic Security Service. “RFJ’s goal is to bring international terrorists to justice and prevent acts of in

Binance’s regulatory troubles continue with Lithuania being the latest country to issue a warning about the cryptocurrency exchange. Lithuania’s announcement came one day after Italy issued a similar warning. Lithuania Warns Binance Lithuania’s central bank announced Friday that it has issued a warning to Binance UAB about its unlicensed investment services provided in Lithuania. The central bank also “ordered the company to ensure that its publicly available information is not misleading.” The central bank explained that it has assessed publicly available information and found that Binance is “acting as a virtual currency exchange operator and a custodian virtual currency wallet operator” in the country. The bank wrote: The Bank of Lithuania addressed Binance UAB … and warned the company about its unlicensed investment services provided in Lithuania as well as requested it to ensure that its publicly available information complies with legal requirements and is not misleading.

PRESS RELEASE. BXX listed on the MEXC Global exchange, and jumped from $0.15 at listing, to $0.50, before settling down to the mid. $0.30s- a more then 100% increase over the course of its first few hours of trading. Pools are also now available on Uniswap 2.0 in both USDT and ETH . Imagine a world where you can borrow for free, remit money across the globe for free, and even earn digital asset rewards from your daily spending- this is the world of the Baanx Group’s platform, a digital assets-as-a-service fintech bridging the worlds of fiat and digital assets. And it is all powered by the BXX token. Baanx modular platform enables fintechs to offer their users- free crypto lending, free remittance, low cost fiat on/off ramps, physical + digital cards, savings seamlessly integrated into any app or website in days, not months. Also key to the Baanx vision is the ability to spend digital assets as easily as cash. These B2B services are, as they say, “better than a bank”. Baanx works w

Regulators from the CVM, the securities watchdog of Brazil, have approved the first Ethereum-based ETF in Latin America (Latam). The product, presented by blockchain investment company QR Asset, aims to simplify the task of getting Ether exposure for retail and institutional investors. It will be traded with the QETH11 ticker on the B3 stock exchange. Brazil to Debut First Ethereum ETF in Latam Brazil will be the first country in Latam that will trade an Ethereum-based ETF. The Brazilian securities regulator has approved the proposal of QR Asset, a blockchain investment firm, to offer an Ethereum ETF. The product, identified with the QETH11 ticker, will be traded on the B3 stock exchange in Sao Paolo. The ETF’s objective is to provide an easy way for investors to put money behind Ethereum’s performance. QR Asset declared on Twitter that: QETH11 becomes a simple, safe and regulated option for any investor to gain direct exposure to Ethereum through their preferred brokerage. With

A non-governmental organization (NGO), Save Tigray, has announced it will be using the proceeds from the sale of non-fungible tokens (NFTs) to support its goal of averting famine in Ethiopia’s war-torn Tigray region. According to Save Tigray, the NFTs, which are “based on interpreted photos of the tragedy,” will be sold on the charity organization’s NFT marketplace. Making NFTs Based on Photos of Tragedy According to a statement released on July 13, 2021, proceeds from the NFT sales will be donated to organizations that include the World Food Program, International Rescue Committee, UNICEF, and Save the Children. Also in the statement, Save Tigray’s Mirna Saraswati explains how the NGO switched to the idea of raising funds via NFTs sales. Saraswati explained: Last year we planned to create NFTs from Fair Trade Art created by women from Tigray. But the advent of the war in November put an end to those plans. So instead, we are making NFTs based on interpreted photos of the traged

Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions The criminal group is believed to have processed illegal funds for a total of 1.2 billion Hong Kong dollars ($155 million), Hong Kong Customs announced Thursday. In an operation code-named “Coin Breaker,” officers detained the suspected ring leader and three other residents of China’s special administrative region. The money laundering syndicate started its criminal activities last year and has been using three shell companies. The entities opened e-wallet accounts with an unnamed digital asset platform to trade the stablecoin tether ( USDT ). Authorities think the mastermind of the scheme convinced the other individuals to register as

Founded on July 1, 2014, Shapeshift has been offering global trading of a variety of digital assets for seven years. Following the company’s recent anniversary, it announced Shapeshift is evolving into a community-owned decentralized platform. Shapeshift founder Erik Voorhees explained in a blog post that the firm airdropped FOX tokens to over a million customers in order to “facilitate decentralized governance.” Shapeshift Is Shifting Shapeshift is changing, according to a recent blog post from its founder, and the company’s announcement about an airdrop of the platform’s native FOX tokens to Shapeshift users. The distribution of FOX is meant to make the platform community-owned and governed by FOX holders. Shapeshift’s recent news follows the company’s change toward dropping KYC rules in January 2021, and shifting toward an entirely non-custodial solution. In mid-April, Bitcoin.com News reported on Shapeshift leveraging Thorchain for multi-chain unwrapped swaps. On July 14, Eri

In a recent twitterstorm, Dogecoin founder co-founder Jordan Palmer stated he wouldn’t return to the cryptocurrency world. Palmer unleashed harsh criticisms of the cryptocurrency industry, calling it “hyper capitalistic,” and managed by “powerful cartels” of wealthy figures. Palmer created Dogecoin along with Billy Markus back in 2013 as a joke, making fun of the crypto community. Dogecoin Co-Founder Slams Crypto Industry Dogecoin co-founder Jordan Palmer is really upset about the road the cryptocurrency industry has taken. In a recent tweetstorm, the Australian programmer took shots at the cryptocurrency world, criticizing it harshly. Palmer says he won’t return or mingle in cryptocurrency circles because of what the industry represents now. Similarly, the father of Dogecoin criticized several key traits of what some cryptos claim to be. He stated cryptocurrency was a: …right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a c

Switzerland’s State Secretariat for Economic Affairs (SECO) is reportedly helping Crypto Valley Venture Capital (CVVC), a blockchain business incubator, set up an office in South Africa. According to SECO, this move fits with Switzerland’s policy of supporting private firms that seek to help African blockchain start-ups. Funding for Successful Applicants According to a Swissinfo report , CVVC will fund the best blockchain start-ups “in South Africa, Nigeria, Kenya, Rwanda, Congo and other countries.” The report adds that the initial five successful applicants will each receive $125,000 (CHF114,000) from the incubator while SECO will also chip in with a contribution of over $270,000 in the first year of the project. In addition, the report also quotes a SECO representative explaining some of the objectives of this funding initiative. The SECO rep is quoted as saying: This start-up funding is intended to show that investments in African start-ups that develop blockchain-based solut

Former U.S. Treasury Secretary Steven Mnuchin says his viewpoint on bitcoin “has evolved a little bit.” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.” Mnuchin Says It’s ‘Perfectly Fine’ if People Want To Buy Bitcoin Former Treasury Secretary Steven Mnuchin talked about bitcoin, cybersecurity, and the U.S. economy in an interview with CNBC Wednesday. He was asked whether his viewpoint on bitcoin has evolved since the last time he was interviewed by the media outlet when he was still the treasury secretary. At that time, Mnuchin was dismissive of the cryptocurrency, stating that it had no inherent value. Since then, a growing number of major companies and prominent traders have gotten into bitcoin. Major investment banks, such as Goldman Sachs, Morgan Stanley, and Citigroup, have either started offering or are in the process of offering crypto products or services to their clients. Regard

Award-winning director Spike Lee has teamed up with bitcoin ATM operator Coin Cloud on a multimillion-dollar crypto campaign. “Digital currency is viable for not just people of color, but anybody who has been historically excluded from traditional financial systems,” said the famed director. Spike Lee Directs Short Film for Bitcoin Company Coin Cloud, a digital currency machine operator with more than 2,000 machines, announced Wednesday a multimillion-dollar campaign with a short film starring and directed by Oscar-winning filmmaker Spike Lee. The Las Vegas-based company explained that the campaign features a commercial titled “The Currency of Currency,” describing it as “a raw and honest snapshot of the history of money and the inequalities inherent in legacy U.S. financial systems.” Coin Cloud added: The piece makes a simple, but bold statement: Old money is out; new money is in. The announcement further describes: “From institutions that intentionally exclude communities of

Payments giant Paypal has increased its weekly purchase limit for cryptocurrencies and has removed the annual limit altogether. The company said, “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.” Paypal Increases Buy Limit for Cryptocurrencies Paypal Inc. announced Thursday that it has increased purchase limits for cryptocurrencies. The company explained that since the U.S. launch of Paypal Crypto in October 2020, it has been actively engaging with customers “to better understand their needs,” with the aim to provide “a trusted and secure platform to buy, hold, sell and checkout with cryptocurrency.” The payments giant detailed: As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we have recently raised the purchase limits of cryptocurrency for eligible Paypal customers in the U.S. to $100,000 per week with no annual purchase limit. This is a five-fold

Following the bitcoin mining crackdown in China, the Nasdaq-listed firm Bit Digital published a second-quarter bitcoin production and mining operations update and noted the company is moving 14,500 bitcoin miners from China to the United States. Bit Digital says after the Chinese government’s decision to ban bitcoin mining, the company “accelerated” its migration strategy to North America. Bit Digital Publishes Unaudited Report On July 13, the company Bit Digital (Nasdaq: BTBT) revealed that it was migrating 14,500 bitcoin miners to the U.S. after China’s recent crackdown. The migration information stems from its unaudited report which explains the firm’s bitcoin production and mining operations during Q2 2021. As of June 30, Bit Digital reported that it owned approximately 32,500 miners which produce roughly 1.92 exahash per second (EH/s) of hashpower. Bit Digital emphasized that during the first quarter, the company participated in fleet repositioning and sold specific older min

After the researchers from the Cambridge Bitcoin Electricity Consumption Index (CBECI) project said that the website’s “Bitcoin Mining Map” had not been updated since April 2020, the map has finally been updated. Current data from the mining map shows the coverage goes all the way up until April 2021, and the estimate of China’s hashrate dominance is much lower than previous estimates. New Estimates Show China Has Less Hashrate Than Previous Statistics University of Cambridge data from the Cambridge Bitcoin Electricity Consumption Index (CBECI) indicates that China has a lot less hashrate dominance than once thought. On June 19, Bitcoin.com News reported on how difficult it was to estimate how much hashrate is actually residing in China. While writing that specific report, the CBECI project explained on its website that the Bitcoin Mining Map had not been updated since April 2020. Furthermore, in December 2020, Bitcoin.com News was told at the time the “CBECI map hasn’t been upd

Another pro athlete in the National Football League (NFL) is planning to convert some of his earnings into bitcoin. The 24-year-old running back for the New York Giants, Saquon Barkley, discussed converting his endorsement revenue into bitcoin during a recent interview with the Morgan Creek Digital co-founder Anthony Pompliano. Inflation Concerns Push Saquon Barkley Toward Bitcoin Saquon Barkley is taking his marketing money and transferring it into bitcoin ( BTC ) according to an interview he had with Anthony Pompliano on the show “The Best Business Show.” Barkley’s interview also featured the CEO of the company Strike, Jack Mallers, and the NFL running back said Mallers helped educate him on the technology. The football player said he will be directly depositing his marketing money into his Strike account in order to convert to BTC . Saquon Barkley says he got into bitcoin after researching inflation. It is estimated that Barkley makes around eight figures ($10 million) annua

Bitcoin mining firm Compass Mining announced the company has entered a 20-year partnership with Oklo Inc., a California-based firm that produces clean, emission-free energy via advanced fission. Oklo explains the company is committed to providing 150 megawatts (MW) of clean power to Compass in order to drive bitcoin mining operations. Advanced Fission and Bitcoin Mining Connect In recent times, all types of renewable and sustainable energy sources have been applied to bitcoin mining processes as miners worldwide leverage excess flare gas, hydropower, solar energy, and geothermal solutions. Just recently, the Bitcoin Mining Council published a report that estimated around 56% of Bitcoin’s SHA256 hashrate was powered by clean energy. In recent times, a great number of operations have also shifted to carbon-neutral methods of acquiring energy to mine bitcoin. On Wednesday, the bitcoin mining company Compass Mining announced that it is partnering with Oklo Inc. in order to acquire cl

Federal Reserve Chairman Jerome Powell believes that there is no need for cryptocurrencies if there is a digital dollar. “I think that’s one of the stronger arguments in its favor,” he said. The Fed chair also insists that the U.S. is not in danger of losing its reserve currency status. Fed Chair Powell Thinks Cryptocurrencies Aren’t Needed When There Is Digital Dollar Federal Reserve Chairman Jerome Powell talked about cryptocurrencies, stablecoins, and a digital dollar during a congressional hearing before the U.S. House of Representatives Financial Services Committee Wednesday. During the hearing, Rep. Stephen Lynch from Massachusetts asked if a “swift action” on the Fed’s digital currency would “calm” the markets and whether a digital dollar would be a more viable alternative than having thousands of cryptocurrencies or stablecoins emerge in the payments system. “I think that may be the case. I think that’s one of the arguments that are offered in favor of digital currency,” P

Binance’s regulatory troubles grow with Italy being the latest country to issue a warning on the global cryptocurrency exchange. Other countries that have issued similar warnings include the U.K., Japan, Thailand, and the Cayman Islands. Crypto Exchange Binance Unauthorized in Italy Italy’s financial regulator, Commissione Nazionale per le Società e la Borsa (Consob), published a warning on cryptocurrency exchange Binance Thursday. The regulator wrote: Consob warns savers that the companies of the ‘Binance Group’ are not authorized to provide investment services and activities in Italy. Consob clarified that activities through binance.com are also unauthorized, noting that the website’s “sections called ‘derivatives’ and ‘Stock Token,’ relating to instruments related to crypto-assets, were previously also written in Italian.” The regulator proceeded to caution the public when investing in cryptocurrency or crypto-related investments, “for this may imply the total loss of the su

LABS Group, the first end-to-end crowdfunding service in the blockchain and real estate industry, has launched the world’s first community-powered and owned resort – Kunang Kunang Glamping Resort. LABS Group fractionalised the entire resort into 365 Rewarding Timeshare (RTS) NFTs, providing successful bidders with benefits never seen before in the traditional timeshare market. The RTS-NFTs will be sold via an auction on Refinable NFT marketplace starting from 1PM UTC July 15th, 2021. Project Introduction Video What is Kunang Kunang RTS-NFT and How Does It Work?   How to Join? The Auction will be starting from July 15th 1pm (UTC) to July 28th. The 365 RTS-NFTs will be sold off via an auction held on the Refinable marketplace with a starting price of 9999 USDT . To participate in the auction, users must first understand the details of the project on LABS Group’s project site. Potential bidders can then visit the Refinable marketplace, search for “LABS Group”, and place a bid for