Bitcoin News and Finance: What You Need to Know

Unnamed sources familiar with the matter indicate the Biden administration may allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead. The news follows three U.S. representatives asking Biden to replace Powell with a central bank leader that addresses equality and climate change. Jerome Powell to Stay for Second Term, Sources Say A report written by Market Watch contributor Greg Robb shows that U.S. president Joe Biden and his administration will likely keep Jerome Powell at the helm of the central bank. Robb says the sources stem from “analysts who keep tabs on Washington for Wall Street” and they are “now fairly certain about his renomination.” Jerome Powell, the Federal Reserve’s chairman, has been leading the central bank throughout a period of time when the Fed has expanded the monetary supply like never before in history. Many complaints have been directed at Jerome Powell and the Federal Reserve’s schemes . Speaking with Market Watch, Stephen

New York Attorney General Letitia James has secured a court order to shut down cryptocurrency exchange Coinseed. The order also “permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through” the exchange. New York Attorney General Letitia James Shuts Down Crypto Exchange The office of New York Attorney General Letitia James announced Monday that the attorney general has shut down cryptocurrency trading platform Coinseed. James has secured a judgment against Coinseed and its founder and CEO, Delgerdalai Davaasambuu, “that permanently halts their illegal and fraudulent operations,” the announcement describes, adding: The judgment secured by Attorney General James today permanently appoints the court receiver to obtain, safeguard, and return all assets invested and traded through Coinseed and orders a money judgment against the defendants in the amount of $3,061,511, both together and separately. Attorney General James filed a law

State Bank of India (SBI) has reportedly blocked payments to cryptocurrency exchanges using its Unified Payments Interface (UPI). Payment processors have been told to disable the bank’s UPI for crypto merchants. Payment Processors Instructed to Disable SBI UPI for Crypto Firms State Bank of India, the country’s largest bank, has reportedly “blocked the receipt of funds by crypto bourses on its UPI platform,” the Economic Times reported Wednesday, citing sources in the payments industry. Unified Payments Interface (UPI) is an instant real-time payment system developed by the National Payments Corporation of India (NPCI) to facilitate interbank transactions through mobile phones. The UPI payment system is regulated and supervised by India’s central bank, the Reserve Bank of India (RBI). According to the publication: The bank has told payment processors to disable SBI UPI for crypto merchants. This means SBI bank customers cannot transfer funds via UPI to crypto exchanges to buy c

The Original DeFi Meme Token – HOGE has joined forces with the DeFi Angels to give their project a voice on Capitol Hill as the regulation conversation heats up. It’s no secret that American based blockchain crypto companies are fighting the infrastructure bill in D.C. This bill could create big change in the world of DeFi over the next several years. HOGE is an ERC20 token on the Ethereum blockchain that has a 2% tax on every transfer. Part of that tax is reflected to current holders, and part is burned forever making HOGE a deflationary cryptocurrency asset. Hoge was a fair launch project; everybody can buy in on day one. Even the developers. This project is entirely comprised of a decentralized community and one of the few token projects out there that has no developer wallet meaning they are a project that is responsible for creating their own self-sustaining ecosystems that provide revenue channels to continue to fund and grow their project. Hoge has achieved ear

Cryptocurrency cannot be adopted as a means of payment in Uzbekistan, a high-ranking official from the country’s central bank has recently stated. Speaking to local media, the regulator’s representative also noted that unlike cryptocurrencies, the national fiat is backed by the bank’s assets. The statement comes in spite of Tashkent’s crypto-friendly moves in the past. Cryptocurrency Cannot Be Accepted for Payments in Uzbekistan, Monetary Authority Says Cryptocurrencies such as bitcoin cannot be recognized as legal tender in Uzbekistan and that’s unlikely to ever change, a central bank official told Spot this week. Speaking to the local news outlet, the Deputy Chairman of the Central Bank of the Republic of Uzbekistan ( CBU ) Behzod Hamraev said: As an economist, I can assume that it [cryptocurrency] will never be equal to world currencies such as the dollar, euro, yen, ruble. The representative of the monetary authority pointed out that 28 trillion Uzbekistani sum (the nation’

According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future. South Africans Still Experimenting With Cryptocurrency Though the KLA findings report that 47% of South Africans are holders, the Businesstech report quoting KLA’s Tessa Nowosenetz explains the value of crypto assets held is still very low. This low average value suggests that many are still trying to understand crypto. To emphasize this point, Nowosenetz said: While this percentage is high, the amount invested is low. This indicates that the bulk of South African crypto investors are experimenting and dabbling without making a significant financial commitment. According to the study’s findings, 25% of respondents that hold cryptocurrency have between $7 and $70 (or between 100 and 1,000

Interactive Brokers, one of the largest online brokerage firms, has announced today it is offering cryptocurrency trading services in alliance with Paxos. Users of the platform now have a complete suite of cryptocurrency trading options, along with traditional trading offerings like stocks and bonds. The company recognized the importance of digital assets for traders to help them achieve their financial objectives. Interactive Brokers Debuts Crypto Trading Interactive Brokers, an online brokerage with more than one million customers, has introduced cryptocurrency to its suite of trading options, plans for which its CEO announced back in June. Now, users of the Interactive Brokers platform will be able to trade for different crypto assets: bitcoin, ether, litecoin, and bitcoin cash. With this inclusion, Interactive Brokers acknowledges the rising importance of the cryptocurrency asset class for diversification in today’s financial market. About this, Milan Galik, CEO of the compan

Zabu Finance, a decentralized yield farming protocol on Avalanche, suffered the first big hack related to the chain. The protocol was the victim of an exploit that allowed an attacker to steal $3.2 million in tokens, according to reports. The core of the exploit happened due to a vulnerability in the design of the Spore token, which allowed the minting of 4.5 billion zabu that were successfully withdrawn from the platform, taking the value of the currency to 0. Zabu Finance Suffers First Big Avalanche Hack Zabu Finance, a yield farm decentralized protocol built on top of the Avax blockchain, faced the big first hack related to the Avalanche chain last week. An attacker took advantage of a vulnerability and withdrew $3.2 million worth of several cryptocurrencies. The attack had its root in a pool of a token called Spore, which allowed the attacker to mint over 4.5 billion of the native token of the protocol (Zabu). The tokens were then dumped in other defi trading protocols levera

The launch of a digital ruble will be among Russia’s key priorities of digitalization this decade, the country’s financial market development strategy has confirmed. The document claims the issuance of a digital national fiat will help the central bank to prevent Russians from using “money surrogates” as officials have previously called cryptocurrencies. Bank of Russia to Issue Digital Ruble by 2030, According to Financial Market Development Plan The Strategy for the Development of the Financial Market of the Russian Federation by 2030 was released this week by the Ministry of Finance. The plan is open for public discussions between Sept. 14 and Oct. 13, 2021, according to a notice published by the State Automated Information System. The strategy defines the launch of a digital version of the Russian ruble as one of the priority tasks in the field of digitalization, as Bits.media crypto news outlet reported. The digital ruble, the authors have pointed out, will become the third f

As the $ ADA bull market continues to gather steam – with new price records set each month – many within the Cardano community are asking, what’s next? The limitless possibilities within the Cardano ecosystem offer many opportunities for both project creators and their investors. But financial and informational asymmetries have always been a major limiting factor. That’s why KICK.IO , a non-custodial crowdfunding protocol, was created to make sure that this immense potential is utilized to its fullest. The platform will ensure projects have access to the most advanced kickstarting and fundraising capabilities and help both retail and institutional investors to come together and pick the winners of tomorrow. To help the team achieve this goal, they have chosen to hold an IEO on ExMarkets decentralized exchange. Following the overwhelmingly successful recent public sale of ADAX – this choice should not surprise anyone, since ExMarkets is increasingly becoming a household

Google is joining forces with the blockchain firm Dapper Labs in order to help bolster Web3 development, blockchain gaming, and non-fungible token (NFT) technology. The blockchain company’s CEO Roham Gharegozlou tweeted about the deal on Tuesday noting that the firm was “amped to welcome Google to the Flow blockchain.” Google to Collaborate With Dapper Labs Various reports indicate that the American multinational technology company that specializes in Internet-related services, Google, has partnered with Dapper Labs. The Google collaboration announcement follows Dapper Labs’ recent partnership with Filecoin . Speaking with Forbes’ contributor Michael del Castillo, Janet Kennedy, the vice president of Google Cloud North America, explained that “it’s really about helping them with rapid and sustainable growth.” Kennedy further elaborated that blockchain tech is continuing to advance. “Blockchain technology is becoming more and more mainstream. So companies like Dapper need scalabl

Ark Investment Management CEO Cathie Wood expects the price of bitcoin to be more than $500,000 in five years’ time, which is over 10 times what it is today. She also shared her view on cryptocurrency regulation and Coinbase’s trouble with the U.S. Securities and Exchange Commission (SEC). Cathie Wood’s Ark Invest Predicts $500K Bitcoin Cathie Wood, the CEO of Ark Investment Management (Ark Invest), discussed bitcoin and crypto regulation in an interview at the SALT conference Monday. Wood is also the firm’s founder and CIO. She was asked what bitcoin will be worth five years from now. Wood replied, “If we are right and companies continue to diversify their cash into something like bitcoin, institutional investors start allocating 5% of their funds into … bitcoin, or other crypto,” then: We believe that the price will be tenfold of where it is today, so instead of $45,000, [it would be] over $500,000. Wood also commented on cryptocurrency regulation. Based on her meeting with s

Global investment bank Morgan Stanley is establishing a new cryptocurrency research team. “The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets,” the bank said. Morgan Stanley Sets Up New Research Team Morgan Stanley is launching a dedicated cryptocurrency research team, Bloomberg reported Monday, citing the bank’s internal memo to staff it has seen. Led by Sheena Shah, the firm’s lead cryptocurrency analyst, the team will research cryptocurrencies’ impact on both equities and fixed income globally. Shah will be based in London, where she will report to Adam Wood, who leads Morgan Stanley’s fintech and payments research team in Europe. She will also report to James Faucette, who leads the firm’s fintech and payments research team in the U.S. The memo states: The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital ass

Amid trouble with the U.S. Securities and Exchange Commission (SEC), global cryptocurrency exchange Coinbase unveils its plan to raise $1.5 billion by selling bonds. Coinbase Plans to Issue $1.5 Billion in Bonds Coinbase Global Inc. (Nasdaq: COIN) announced Monday “its intention to offer, subject to market conditions and other factors, $1.5 billion aggregate principal amount of its Senior Notes due 2028 and 2031 in a private offering.” The company explained that the notes “will be fully and unconditionally guaranteed by Coinbase Inc.” and “The interest rate, redemption provisions, and other terms of each series of notes will be determined by negotiations between Coinbase and the initial purchasers.” The announcement details: Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that C

We’re less than one month away from Apex—the inaugural event that brings together developers to learn, build, share and celebrate all things XRP Ledger. In partnership with the XRP Ledger Foundation, we’re pleased to announce additional speakers who will join Alexis Ohanian, David Schwartz, Wietse Wind and Monica Long at Apex.  Chris Jimison, CTO, Forte  … Continued The post Forte, Coil Join Apex Speaker Lineup appeared first on Ripple. http://dlvr.it/S7ZVS7

PRESS RELEASE. AscendEX is thrilled to announce the listing of the iMe token (LIME) under the pair USDT/LIME on Sept. 14 at 1 p.m. UTC. iMe is an innovative, Telegram-based messaging platform with extended functionality and DeFi capabilities. iMe is the only project to introduce DeFi functionality on a messaging platform. iMe has integrated Artificial Intelligence, “Topics,” an alternative to Telegram folders, built-in Google Translations, a functional Cloud with Albums, and many other unique developments on its platform. Similar to the functions offered by Telegram, iMe users can send messages, photos, videos, and any file type (doc, zip, mp3, etc.) while creating groups or channels to broadcast to their audience. Users can record contacts on their phones and find people by their names. A hybrid of email and SMS, iMe can handle personal and business messaging needs with the added support of end-to-end encrypted voice and video calls. LIME, the protocol’s native token, allows

Approximately nine days ago, the total value locked (TVL) in decentralized finance (defi) across various blockchains was around $176 billion. At that time, bitcoin ($49,937) and ethereum ($3,886) fiat values were much higher. Despite the fact that the crypto economy and these coins have dipped in value, the TVL across defi has continued to rise, climbing more than 5% to $185.32 billion. Defi TVL Across All Chains Rises by More Than 5% Over 9 Days Decentralized finance (defi) has attracted billions of dollars and at the time of writing, the total value locked across a myriad of blockchains is around $185.32 billion. That’s approximately 5.113% higher than the TVL was nine days ago. At the time of writing, the TVL held in defi is $185 billion and more than 5% higher than it was nine days ago. Statistics from the defillama.com dashboard indicate that there’s been a 2.10% rise during the last day and the defi platform Aave has the highest dominance level in terms of TVL (7.40%). In

According to reports on social media, crypto forums, onchain metrics, and the Solana Status Twitter account indicate that Solana’s blockchain has stalled. Solana mainnet-beta suffered a four-hour downtime and is still down after a technical glitch. Solana’s Network Stalls In recent times, solana (SOL) joined the top ten crypto assets by market valuation and today, SOL’s market cap position is the seventh-largest. At the time of writing, SOL has been exchanging hands for $159 per unit and is down 2.8% during the last week. @phantom I'm locked out of my Solana. It says "unable to connect to Solana" and no help anywhere on your website that makes sense to someone that doesn't know advanced coding. I shouldn't need to reconfigure my computer to access my Solana — MattyG (@Mattygxrp) September 14, 2021 On September 14, the protocol suffered an error and at the time of writing, the chain stopped for a total of four hours so far, as the outage is still ongoin

The infamous dogecoin was one of the first meme-based digital currencies and it’s safe to say that the coin inspired a myriad of meme-focused or joke tokens meant to be used for fun. However, while dogecoin has had a phenomenal 2021 rising 8,515% in 12 months, during the last month dogecoin prices have stagnated a great deal. At one time, dogecoin held the fourth largest market capitalization but today, the original meme-coin’s overall market valuation has slid to the ninth position. Dogecoin Slips to the Ninth Largest Market Position After Price Highs Subside, 67% Down From ATH At the beginning of the year, many people said that “you can’t keep a good dog down” after dogecoin (DOGE) started its triumphant price surge and continued to rise higher month after month. That’s because dogecoin has been around for years, and for many of those years, DOGE traded for less than a U.S. penny per unit. But thanks to a lot of social media activity, mainstream media headlines, celebrity and bra

Following the fake news of its partnership with Litecoin, Walmart Inc. says it is looking into how the fraudulent press release was issued. The Litecoin Foundation and Charlie Lee are also investigating the matter. In addition, Globenewswire says it will also work with authorities “to request – and facilitate – a full investigation, including into any criminal activity associated with this matter.” Walmart Responds to Fake News of Its Partnership With Litecoin The retail giant issued a press release in response to the fake news of its partnership with Litecoin Monday. “Walmart was the subject of a fake news release issued on Monday, Sept. 13, that falsely stated Walmart announced a partnership with Litecoin ( LTC ),” the company wrote, adding: Walmart had no knowledge of the press release issued by Globenewswire, and it is incorrect. Walmart has no relationship with Litecoin. Walmart spokesman Randy Hargrove told CNBC that the retailer has been in touch with the newswire compan

The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank of Russia Target Cryptocurrency Exchangers Russia’s central bank has issued a set of criteria that banks can use to identify cards and e-wallets used by companies operating in the shadow economy, Forklog reported. According to the monetary authority, these include not only illegal forex dealers and financial pyramids, but also cryptocurrency exchangers. The bank turns particular attention to transactions between private persons as the regulator claims such entities often use accounts registered under false names to make and receive payments. Russian banks are expected to analyze and identify suspicious transactions as part of their anti-money laundering (AML) efforts and terminate servic

PRESS RELEASE. Sharjah, September 2021 – The Sharjah Research Technology and Innovation Park (SRTIP) issued its third Distributed Ledger Technologies license (DLT) to ZelaaPayAE . Focusing on numerous areas related to the exchange of value, ZelaaPayAE works strongly to advance tokenisation and through its multiple arms and divisions promotes non-fungible tokens (NFTs), payments infrastructures and various other blockchain applications. The CEO, Mr. Sahil Arora said, “We chose to set up at SRTIP because of their acute understanding of the space we operate in. They understood the requirement for an environment to test, experiment and simulate transactions where we can develop our fintech. The fundamental in the vision of ZelaaPayAE is to push and advance the blockchain space forward as a whole and it boasts an all-star strategically positioned list of partners and players including Tron, DigiByte, Klever Wallet and other stalwarts of the blockchain ecosystem from around the world.” Z