Bitcoin News and Finance: What You Need to Know

PRESS RELEASE. Silta Finance, a new DeFi lending solution, challenges traditional banking sector’s predominance in project finance by announcing a partnership with the Singapore headquartered development company WEnergy Global. WEnergy Global has agreed to explore cryptocurrency lending solutions to access project finance. The company is partnering with Silta, a new startup connecting DeFi with infrastructure funding. Silta gives DeFi lenders access to a new real asset class, diversifying the investment universe and offering competitive interest rates. With this deal, WEnergy Global will be one of the first borrowers to receive early access to Silta’s new DeFi solution. Silta facilitates lending for building various kinds of infrastructure assets in a project finance framework. Borrowers can submit loan applications, and Silta conducts a risk analysis and carries out a credit assessment. Based on this information, the Silta community votes on which projects should be financed. A

Mariah Carey has encouraged her fans to invest in cryptocurrencies. To help them get started, she is offering $20 in free bitcoin via her partnered cryptocurrency exchange. “A portion of your trade will go toward Black Girls Code, a non-profit helping to increase the number of women of color in the digital space,” said Carey. Mariah Carey Offers Free Bitcoin Bonus to Help Fans Get Started Investing in Crypto Award-winning artist Mariah Carey has encouraged her fans to start investing in crypto. Throughout her career, the famous singer, songwriter, and actress has won five Grammy Awards, 19 World Music Awards, and 21 Billboard Music Awards. Carey is also an inductee of the Songwriters Hall of Fame. Carey has partnered with cryptocurrency exchange Gemini to offer a small amount of free bitcoin to anyone signing up for a trading account at the crypto exchange and start investing. She tweeted about the offer to her 21.6 million followers and posted a video of herself explaining the of

Global investment bank JPMorgan says inflation concerns are pushing the price of bitcoin to record highs, rather than interest in recently launched bitcoin futures exchange-traded funds (ETFs). Noting that investors are pulling out of gold ETFs into bitcoin funds, the firm noted, “The flow shift remains intact supporting a bullish outlook for bitcoin into year-end.” JPMorgan Sees Inflation Driving up the Price of Bitcoin JPMorgan Chase’s analysts, led by Nikolaos Panigirtzoglou, published a research note last week explaining that inflation has been driving up the price of bitcoin to all-time highs rather than the hype around the first U.S. bitcoin futures exchange-traded fund (ETF). Proshares Bitcoin Strategy ETF, ticker BITO, began trading Tuesday and rapidly amassed $1 billion in investments. The second bitcoin futures ETF in the U.S. launched Friday. The JPMorgan analysts believe that “By itself, the launch of BITO is unlikely to trigger a new phase of significantly more fre

The prime minister of Thailand has cautioned investors getting into cryptocurrencies, noting that they are volatile and highly speculative. Recently, interest in cryptocurrencies has soared as young investors in the country discovered that they could make money quickly by investing in cryptocurrencies. Thai Prime Minister Warns About Crypto Investing Ratchada Thanadirek, deputy spokeswoman for the Thai Prime Minister’s Office, said Saturday that Prime Minister Prayuth Chan-ocha is worried about people investing in cryptocurrencies, particularly young investors. The warning came as the prime minister learned that Thai people entering the workforce have flocked to invest in cryptocurrencies due to their spectacular returns in a short period of time. However, the prime minister urged investors to consider the risks of investing in this asset class. He noted that cryptocurrencies have no supporting fundamentals, and they are highly speculative and very volatile. He also asked parents

On November 2, a non-fungible token (NFT) magazine is coming to the Ethereum blockchain called “The NFT Magazine” — a periodical publication containing articles and illustrations in the form of an NFT. The project, promoted by Advtech IT Solutions, has partnered with members of the Zilliqa, Algorand, and Bitcoin Cash blockchain communities, alongside Art Rights, Artuu, The Cryptonomist, and the Poseidon Group. The NFT Magazine — A Non-Fungible Token Periodical Featuring Blockchain Topics and Crypto Artists Non-fungible token (NFT) assets and collectibles have become a mainstay in the world of cryptocurrency and blockchain. During the last 12 months, thousands of artists, celebrities , athletes , designers, DJs , and more have published NFTs that have sold for millions of dollars. There have been all types of NFTs such as artwork, gaming items, music, and even physical items that are tethered to some form of blockchain technology. Now, a team called Advtech IT Solutions plans to dr

On October 21, the bitcoin mining pool operator Titan revealed a new decentralized hashpower routing protocol called Lumerin. The open-source project aims to commodify bitcoin’s hashpower “through smart contracts, making hashpower tradable.” Bloq’s Mining Arm Titan Announces the Lumerin Protocol The bitcoin mining operation Titan , a subsidiary of the company Bloq Inc., has announced its decentralized hashpower routing protocol, “Lumerin.” Titan says that bitcoin mining companies “tend to be concentrated in regions that offer cheap electricity, favorable regulation, and stable infrastructure” and it aims to solve centralization via software. The idea is to commodify bitcoin’s processing power and security by leveraging smart contracts. “The Lumerin Protocol will allow companies and individuals to buy, sell, and deliver hashpower, achieving decentralization through open market dynamics,” Titan’s announcement details. “Furthermore, by making hashpower a transferrable digital commodi

The price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top. On October 20, cryptocurrency market analyst Justin Bennett discussed bitcoin’s possible price floor after it reaches the top. Bennett suggests the end of this cycle could be between $207,000 and $270,000. Assuming bitcoin crosses $200K per coin, Bennett thinks the digital asset’s bottom after an 80% pullback will be around $50K. ‘2013 Vibes,’ ‘End-of-Cycle Targets,’ and Searching for the Elusive Bottom The price of bitcoin (BTC) reached an all-time high (ATH) at $67,017 on October 20, 2021, and since then the price has shed around 8% in value. On that same day, cryptocurrency market analyst Justin Bennett published some insights about bitcoin’s future in a blog post called “Charting Bitcoin’s Next Five Years.” Cryptocademy’s analyst Bennett discusses BTC ’s market fundamentals and he offers a prediction of t

The Securities and Exchange Board of India (SEBI) has issued a warning that registered investment advisers are not allowed to engage in unregistered activities. This warning includes crypto activities since crypto is currently an unregulated industry in India. SEBI Warns Registered Investment Advisers Cannot Engage in Crypto Activities Indian securities and commodity market regulator, the Securities and Exchange Board of India (SEBI), issued a notice regarding “unregulated products” Thursday. “It has come to the notice of SEBI that some registered investment advisers [RIAs] are engaged in unregulated activity by providing platform for buying/ selling/ dealing in unregulated products including digital gold,” SEBI explained. The regulator warned that “Undertaking such unregulated activity including dealing (i.e. advisory, distribution and execution/ implementation services) in digital gold by investment advisers is not in accordance with the provisions of Section 12(1) of the SEBI A

Just a few days after reports emerged that it had refused to process a company registration application by Flint API limited, the Nigerian agency Corporate Affairs Commission (CAC) has now registered the blockchain start-up. The agency however blames an unnamed employee for the failure to process the application. The CAC’s About-turn According to a report , the agency’s reversal of its earlier decision followed an intervention by the CAC’s registrar-general Alhaji Garba Abubakar. As reported by Bitcoin.com News, the CAC’s refusal to register the start-up had prompted directors of an incubating hub that is housing Flint API Limited to seek Nigerian vice president Yemi Osinbajo’s intervention. While there is speculation that Osinbajo did intervene, the report by Cryptoassetbuyer, however, suggests it was Muhammad Abdullahi, an assistant to Abubakar, who aided in the registration process. The difficulty in processing the application also is said to have been the result of an unnamed

Input-Output Hong Kong (IOHK) has listed ADALend on their :Essential Cardano List” of projects that are considered part of the ecosystem supporting and providing Cardano users with products and services. “The Essential Cardano List” gives an overview of the Cardano ecosystem with an accompanying map, a central library of materials, Cardano Foundation, and Emurgo resources, as well as community-generated materials and a list of current stake pools. ADALend ’s inclusion in the list marks a milestone for the project and its plans to broadcast consumer awareness for the project and its features. About IOHK Input-Output Hong Kong (IOHK) is a technology firm dedicated to employing peer-to-peer innovations to bring financial services to the world’s three billion unbanked individuals. They are a software development firm that creates cryptocurrencies and blockchains for academic institutions, government agencies, and businesses. IOHK is considered one of the world’s leading blockchain i

One of South Africa’s biggest banks, Standard Bank, has reportedly sent account termination notices to clients that offer automated cryptocurrency arbitrage services. Bank’s Criteria Questioned This move, according to a Mybroadband report, has sent shockwaves through the cryptocurrency industry. The sending of the notices has also raised questions about the criteria that Standard Bank is using when making a decision on which accounts must be terminated. For example, Carel de Villiers, the co-founder of an arbitrage trading firm Shiftly, is one individual quoted questioning the formula that Standard Bank is using. While acknowledging that Shiftly is not a client of the bank, de Villiers however suggests it is curious that Standard Bank — which once rejected his company’s attempt to open an account — maintains a business relationship with its rivals. The report also quotes an unnamed arbitrage trader who similarly claims their account is being terminated simply because of the compa

Authorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms and proposed a cap on the power rating of new facilities. Kazakhstan Measures Power Usage in Crypto Mining Sector, Estimates Deficit In an effort to explain why Kazakhstan is considering imposing restrictions on new cryptocurrency mining operations, the Ministry of Energy told local media that data centers minting digital coins use 5 megawatts (MW) of electricity each hour. Just a single mining facility burns an average of 3.6 million kilowatts (kW) a month, the department stated, noting that the amount equals the consumption of 24,000 homes. As China has been cracking down on cryptocurrency miners this year, the Central Asian nation has become an attractive destination for many businesses fro

Developers of the Binance Smart Chain, the Binance-backed decentralized blockchain platform, have proposed applying a mechanism to burn BNB tokens based on the utilization of the network. According to the proposal, this would benefit both validators and holders due to the increase in value that the token would experience thanks to token burns. The proposal, called Binance Evolution Protocol 95 (or BEP-95), bears a striking resemblance to EIP-1559, an already implemented Ethereum proposal that also burns fees. Binance Smart Chain Could Burn Gas Fees Binance Smart Chain, the decentralized blockchain backed by Binance, could be implementing a gas-burning mechanism in the near future. Developers of the chain unveiled a proposal that points in that direction. The proposal, called BEP-95 , would burn some of the fees that users spend to make transactions or to interact with smart contracts on the network. Normally these fees would go to validators as rewards for securing the network. Bu

After failing to roll out its CBDC on October 1, the Central Bank of Nigeria (CBN) has released a document in which it reiterates its commitment to launching the e-naira. In fact, in this document titled The Design Paper for the E-naira, the CBN says it is now ready to launch Nigeria’s CBDC. CBN Prioritizes Robust Ecosystems However, in the same document , the central bank appears to downplay the implications of failing to launch as planned. Instead, the CBN attempts to highlight the importance of getting things right the first time and how this guarantees the digital currency’s success in the long term. The document explains the CBN’s position: While the launch of the e-naira is an important event, it is one milestone on a long journey. The e-naira is a process, not a single step. Over time, the CBN believes the robust ecosystems that will be built on the e-naira platform will ensure Nigeria and Nigerians receive all the benefits from the e-naira. E-Naira Roadmap Instead of pu

The executive power will not oppose cryptocurrency investments, a high-ranking government official has told lawmakers in Pakistan. The statement comes as a regional high court has urged the federal government to regulate cryptocurrencies and formed a committee to look into the matter in the coming months. Minister Says Pakistan Government Has No Objection to Investments in Crypto Addressing members of the National Assembly this week, Pakistan’s Minister of State for Parliamentary Affairs, Ali Muhammad Khan, recognized cryptocurrency as a new concept. He then noted that the government did not have any objection if the Pakistani youth would take the opportunity to invest through this new technology. Khan made the comments on Wednesday in response to a calling attention notice in the lower house of parliament regarding the absence of a regulatory framework for cryptocurrencies in the country, the Daily Times reported. The minister explained that the government did not oppose their reg

The American journalist, Youtuber, podcast host, and political commentator, Tim Pool, has talked about bitcoin on numerous occasions and even more so these days as the crypto asset crossed its all-time price high. After the Proshares exchange-traded fund (ETF) launched on the New York Stock Exchange (NYSE), Pool asked his 897,700 Twitter followers if they thought bitcoin would hit $200K. Tim Pool ‘Feels Bad’ for People Dismissing Bitcoin Tim Pool is a well known person on various social media channels due to the work he’s done as a journalist, show host, and commentator. When it comes to living in these modern times, Pool always has something to say in order to spark meaningful debate. Pool is a former member of Vice Media and in 2014 he also participated in Fusion TV. The activist is also well known for his live-streamed recordings of the 2011 Occupy Wall Street protests in 2011. These days, Pool hosts a Youtube show and podcast called “ Timcast IRL ” and he discusses things like

On Friday, the Valkyrie Bitcoin Strategy Exchange-Traded Fund (ETF) launched on Nasdaq under the ticker BTF and dropped in value not too long after the ETF first came out of the gate. The second bitcoin ETF to launch in the United States followed bitcoin’s spot price movements on Friday, as BTF started the day above $25 and dropped to just over the $24 mark. Initial Market Performance of Valkyrie’s Bitcoin ETF Lackluster Compared to the First Bitcoin ETF Debut Valkyrie’s bitcoin futures ETF officially launched on Friday and reached a high of $25.60 per unit at around 9:00 a.m. (EDT). The senior ETF analyst for Bloomberg Intelligence, Eric Balchunas , tweeted about Valkyrie’s ETF after the first few minutes of trading. “BTF up and running with a healthy $10m traded in [the] first [five minutes], BITO is at $30m. You have to be happy with that spread if you are BTF, [it] will be tough to keep up [though],” Balchunas said . The stock subsequently fell in value as it followed the s

Traders who have yet to join cryptocurrency exchange, Bybit can now enjoy 3% bonuses on their first time deposits, capped at $3,000 per user. In addition, traders with combined trading volumes in both Spot and Derivatives of at least $100,000 will be automatically included in an exclusive lucky draw featuring a grand prize of 0.1 BTC . To be eligible to receive the bonuses, traders must first register for Bybit’s Deposit Blast-Off event here before Nov. 18, 2021, 10AM UTC. Once registered, traders must make a minimum deposit of $500 worth of eligible assets within seven (7) days for their deposits to be considered in the calculation of their rewards. Any deposits made after this timeframe will not be considered in the calculation of their reward. Among the eligible assets include BTC , ETH , BIT, USDT , XRP , DOGE, DOT, EOS , LTC , XLM , AAVE, AXS, CHZ, COMP, DYDX, LINK, MANA, MKR , SUSHI, UNI and YFI. To qualify for the lucky draw, traders will need to hit the minimum trading v

The crypto asset solana has managed to capture more than 12% in gains during the last 24 hours and has recently positioned itself as the sixth-largest cryptocurrency market capitalization. The crypto asset’s overall market cap is around $62.2 billion, only 11% away from surpassing cardano’s market valuation at $69 million. Solana Takes the 6th Spot, Market Valuation Nears Cardano’s Market Cap On Friday, the crypto asset solana (SOL) has managed to take the sixth position in terms of the world’s largest crypto market valuations. At the time of writing SOL is swapping for over $203 per unit and is up 12.4% over the last day. Seven-day statistics indicate that solana has gained 37.5% this past week and during the last 30 days, SOL is up 68.2%. After the digital currency captured the sixth largest crypto position, a great number of people discussed the crypto asset on social media. At 1:30 p.m. (EDT), the hashtag #solana had around 97,900 tweets with the hashtag present in the tweet.

On Thursday, Robinhood CEO Vlad Tenev spoke at a conference called the Disruptor 50 Summit and the executive explained that the waitlist for the company’s recently announced crypto wallet has 1 million sign-ups so far. “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Tenev said during the event. Robinhood Crypto Wallet Waitlist Hits a Million Sign-ups Vlad Tenev, the founder of Robinhood Markets, told the public on Thursday that the waitlist for Robinhood’s crypto wallet has reached 1 million customers. Speaking at CNBC’s Disruptor 50 Summit Tenev explained how popular cryptocurrencies are on the financial services application. “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Tenev said at the event. The CEO added: “We rolled out our wallet’s waitlist. A lot of people have been asking for the ability to send and receive cryptocurrencies, transfer them to hardware wall

Retail giant Walmart says that bitcoin can now be purchased at 200 of its stores in the U.S. The cryptocurrency is offered through Coinstar kiosks located inside Walmart stores. Coinstar is currently offering bitcoin at more than 8,000 kiosks. Buying Bitcoin at Walmart Bitcoin can now be purchased at 200 Walmart stores in the U.S., the company reportedly said Thursday. This is part of a pilot program with Coinstar, which operates machines that allow customers to exchange U.S. coins for paper bills or gift cards. The pilot began earlier this month, according to Walmart spokesperson Molly Blakeman. To buy bitcoin at participating Walmart stores, customers need to visit a Coinstar kiosk located within Walmart. They must have an account with cryptocurrency exchange Coinme and each purchase carries a transaction fee of 4% and a cash exchange fee of 7%. Purchasers will receive a voucher that can be redeemed for BTC instantly at Coinme. Coinstar noted, “You can only use paper money to bu

According to reports, tech billionaire Peter Thiel — the co-founder of Paypal and Palantir — spoke about bitcoin at an event hosted in Miami. At the time, bitcoin had just surpassed its all-time price high and Thiel said “you’re supposed to just buy bitcoin” and added, “I feel like I’ve been underinvested in it.” Peter Thiel Postulates Meeting Satoshi Nakamoto on a Beach in Anguilla The tech investor Peter Thiel is a fan of bitcoin ( BTC ) and has explained this on a few occasions in the past. In mid-May, Palantir Technologies, the American big data software firm, revealed that the company would accept bitcoin for services and was also considering keeping the crypto asset on its balance sheet. Bloomberg reported that the billionaire venture capitalist said bitcoin is an “already known” secret, speaking at a conference in Miami. In addition to this statement, Thiel reportedly said that he felt “underinvested” in bitcoin. Furthermore, Thiel also discussed an early encounter with

PRESS RELEASE. Night Life Crypto (NLIFE), the first platform to bring AAA style titles to blockchain games, is proud to announce an integration with the largest protocol connecting Ethereum-compatible blockchain networks, Polygon. Night Life Crypto will utilize Polygon’s chain to launch it’s very first series of integration NFTs, as well as use their chain for all in-game NFT rewards for their upcoming flagship game Night Life Drifting, on October 22nd, 2021. Night Life Drifting is an action/arcade game where users race other players through a neo-Tokyo city, drifting through the streets to win performance NFTs, $NLIFE tokens and visual modification NFTs to upgrade their in-game vehicles. Further details about Night Life Drifting can be found on both the NLIFE Website and the Night Life Drifting Website . For this integration, Night Life Crypto is unveiling a never-before-seen Polygon branded car, the Matic GT. This car is purchasable as an NFT, which players will be able to driv

While cheered emphatically by the crypto community, the bitcoin ETF’s simplicity hides many drawbacks, especially for long-term investors unfamiliar with the inner workings of the futures market and the rocky results of historical ETF launches. The First Crypto’s Saga Continues as Accessibility Broadens With the first Proshares bitcoin exchange-traded fund (ETF) with ticker BITO opening for trading on October 19th, investors with brokerage accounts can finally access the cryptocurrency just like they can any other stock or ETF available. For bitcoin aficionados, the SEC’s announcement catalyzed a positive change in the market, as the price of BTC hit an all-time high above $66,000 amid heightened CME futures and options activity. Likewise, crypto experts believe that with the launch of the bitcoin ETF, bitcoin as an investment option will be more widely accessible and that bitcoin’s recognition will grow. According to Ben Caselin, AAX’s head of research and strategy: Over the