Bitcoin News and Finance: What You Need to Know

For many people the luxury market is out of reach. However, with LuxFi, that is no longer the case. The platform combines blockchain technology, NFTs, and a luxury goods market open to anyone, anywhere. LuxFi will mark a significant shift in the way luxury goods are traded, and how people acquire them. LuxFi is at the center of this transformation in the market. The platform aims to create a transparent, open and data-driven marketplace where users can safely transact with each other. Let’s break down all the components of LuxFi. Non-Fungible Tokens (NFTs) At the core of LuxFi are non-fungible tokens. An NFT is a type of crypto asset that is meant to reflect uniqueness. They were invented on the Ethereum network with a token design designated ERC-721. The ERC-721 was created first to reflect collectible assets on the Ethereum network. The most famous example is CryptoKitties, which became the most popular DApp on Ethereum in 2017. The ERC-721 token standard quickly migrated to dig

Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets. Investors in Kazakhstan Can Buy up to $1,000 in Crypto a Month Without Declaring Income Kazakhstan has adopted limits for crypto purchases made by retail investors on the exchanges registered at the Astana International Financial Centre ( AIFC ), the local business news portal Capital reported, quoting the Astana Financial Services Authority (AFSA). The publication notes that the respective amendments to the rules governing activities at the financial hub in Nur-Sultan were proposed by AIFC’s Financial Services Regulatory Committee in July and adopted in late October. Commenting on the changes, AFSA emphasized: The limits are introduced to protect the interests of retail investors, since transactions wi

Sky Mavis, the company behind the development of Axie Infinity, has launched Katana, the first decentralized exchange for Ronin, its custom-made Ethereum sidechain. Katana will feature all of the tokens used in Sky Mavis’ products, including SLP and AXS, the native tokens of the Axie Infinity ecosystem. This new product will allow users to earn rewards for providing liquidity. Axie Infinity’s Katana DEX Launched Sky Mavis, the developer of Axie Infinity , a breakthrough play-to-earn-based blockchain game, has launched Katana, a new decentralized exchange on top of Ronin. Ronin is Sky Mavis’ own tailored Ethereum sidechain, developed to satisfy the needs of users that complained about the high fees they had to pay for transacting on Ethereum’s Layer 1 (L1). With Katana, Sky Mavis makes it easier to manage Axie Infinity and introduces an alternative way of earning yield for users. As with most decentralized exchanges, Katana will feature liquidity pools to serve other users in faci

PRESS RELEASE. Dubai, UAE, 5th November 2021 — Mintverse , a new and improved NFT service platform, closes their seed round raising $1.5 million from private investors. Led by A&T capital, and other large investment firms including Mirana Ventures, Longling Capital, Genesis Block Ventures, FBG, Fenbushi Capital, Cipholio Ventures, Nebulas, Ceras Ventures, NDG and other individual angel investors, Mintverse aims to be a community-based initiative to provide products and services that explore future use cases of NFTs. It is expected to feature a completely decentralized service platform and incubator for more than just NFT based projects. Mintverse will use the funds raised to further develop the existing platform and release future product offerings to tackle the current problems faced within the industry. Mintverse founder was thrilled by the response from the large list of investors and said, “The support we have gained during this round of fundraising has been astounding and

Microsoft has announced the launch of a metaverse-inspired feature for its Teams app called Mesh. Mesh will allow users to introduce personalized avatars in digital worlds, making meetings more immersive. The platform is being announced on the heels of Facebook’s pivot to becoming a metaverse-dedicated company, changing its name to “Meta.” Microsoft Embraces the Metaverse Software behemoth Microsoft has announced it will release a metaverse-inspired solution for its Teams app called Mesh. With Mesh, users in meetings will feel more immersed because the app will introduce avatars — digital representations of the user — for applications like team calls. Furthermore, the avatars will be able to meet and greet each other in an immersive, digital world. This new feature will be available for users with smartphones, laptops, or even holographic devices. According to Jeff Teper, a Microsoft corporate vice president, Mesh is a way to: Signal we’re in the same virtual space, we’re one te

Warner Bros., the American multinational mass media and entertainment conglomerate has announced the launch of non-fungible token (NFT) collectibles for the upcoming film “The Matrix Resurrections” after dropping official Space Jam NFT collectibles. The Matrix NFT program will start on November 30 as Warner Bros. plans to drop 100,000 Matrix Resurrections’ NFTs. ‘You Take the Blue Pill…the Story Ends — You Take the Red Pill…You Stay in Wonderland, and I Show You How Deep the Rabbit Hole Goes’ The entertainment giant Warner Bros. is knee-deep in the non-fungible token (NFT) industry these days after launching the official Space Jam NFTs with the Miami-based firm Nifty’s, Inc. The NFTs stemmed from the recently released “Space Jam: A New Legacy,” which starred a cast of famous Looney Tunes characters and the NBA star LeBron James. Warner Bros. has joined a number of big-name entertainment firms like Fox , Lionsgate , Dolphin , and ViacomCBS. The entertainment companies WWE and UFC

PRESS RELEASE. 3air is using an ISP platform built on Cardano to provide internet to the most unconnected regions in Africa. November 2nd, 2021, Dubai, UAE – Today, 3air , a blockchain-based startup, announced it will leverage the power of decentralization to provide internet connectivity to consumers in Africa and provide the physical infrastructure to support this through its partnership with K3 Telecom. Only 20% of people on the African continent are active internet users, with less than 1% having access to broadband. Compare this with the 60% of the world population that are active internet users and it quickly becomes evident that African nations have quite a distance to go in order to fully benefit from the world wide web. The lack of internet in this region not only means it has been more difficult to implement successful COVID-19 containment methods, but there is also a social and economic impact including the way citizens interact with their government, with businesses,

Paytm, one of India’s largest payments companies, is open to offering bitcoin services if the crypto asset becomes legal in the country, according to its chief financial officer. If bitcoin “was ever to become fully legal in the country, then clearly there could be offerings we could launch,” he said. Paytm Open to Bitcoin Offerings Paytm Chief Financial Officer Madhur Deora has indicated that his company is open to offering bitcoin services if the crypto asset becomes legal in India, local media reported Thursday, citing his recent interview with Bloomberg TV. Deora was quoted as saying: Bitcoin is still in a regulatory grey area if not a regulatory ban in India. At the moment Paytm does not do bitcoin. If it was ever to become fully legal in the country, then clearly there could be offerings we could launch. In August last year, Paytm reportedly froze Paytm Payments Bank’s customer accounts suspected of crypto trading. Paytm is currently India’s second most-valuable interne

U.S. lawmakers have called on the Securities and Exchange Commission (SEC) to approve bitcoin spot exchange-traded funds (ETFs). Since the SEC has approved the trading of bitcoin futures ETFs, the lawmakers said it “should no longer have concerns with bitcoin spot ETFs and should show a similar willingness to permit the trading of bitcoin spot ETFs.” Lawmakers Urge SEC to Permit Trading of Bitcoin Spot ETFs U.S. Representatives Tom Emmer and Darren Soto sent a bipartisan letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, Wednesday regarding bitcoin exchange-traded funds (ETFs). So far, the SEC has approved two bitcoin futures ETFs but has yet to approve any bitcoin spot ETF. Rep. Emmer said: The SEC’s approach to cryptocurrency regulation has been unacceptable. While the trading of bitcoin futures ETFs is a great step forward for the millions of American investors who have been demanding regulatory clarity, it does not make sense that bitcoin sp

U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency by having congressional cafeterias, vending machines, and gift shops accept crypto payments. “Congress is typically slow to adopt new technology,” he said. Senator Pushes for Crypto Adoption in Congress U.S. Senator Ted Cruz has introduced a resolution titled “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution,” also referred to as “ACCEPT Resolution,” in the Senate Monday. The resolution proposes cryptocurrency be accepted at “restaurants, vending machines, and gift shops in the Capitol Complex.” According to the text of the resolution: The Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives shall each … solicit and enter into contracts to provide food service and vending machines in such Capitol Buildings with persons that will accept digital assets as p

Star Financial Bank (Star Bank) says it has become the first bank in the U.S. state of Indiana to offer bitcoin services to customers. The services will be offered through the New York Digital Investment Group and Alkami platform. Customers will have the ability to buy and sell bitcoin via the Star Mobile Banking App. ‘First Bank in the State of Indiana to Offer Bitcoin Trading Services’ Star Financial Bank (Star Bank) announced Tuesday: Star is excited to offer customers the ability to buy and sell bitcoin via the Star Mobile Banking App. “We’re launching this new offering as a closed beta,” the bank added. Star Bank is an Indiana-based community bank. Its parent company, Star Financial Group, has $2.80 billion in assets with 36 locations in central and northeast Indiana, according to its website. The bitcoin services are provided by the New York Digital Investment Group (NYDIG) via Alkami, a cloud-based digital banking solutions provider for U.S. banks and credit unions. NYD

Russian institutions have responded to a call from а public movement for joint efforts to identify cryptocurrency transfers related to drug trade. The anti-drug organization, Stopnarkotik, recently asked the interior ministry and the central bank to investigate alleged connections between U.S.-sanctioned crypto exchange Suex and a darknet market operating in the region. Russian Authorities Respond to Stopnarkotik’s Request for Action Against Drug Trade The Ministry of Internal Affairs of the Russian Federation (MVD) and Bank of Russia have agreed to cooperate with the All-Russian Public Movement Stopnarkotik on identifying financial flows involving cryptocurrencies obtained as a result of drug sales. The Russian online news portal Lenta.ru reported on the agreement, quoting a letter from a high-ranking MVD official. The letter signed by Major General Andrei Yanishevsky, head of the Drug Control Department at the Interior Ministry, has been issued after a working meeting with re

At the end of October, the product comparison website finder.com published new survey data about price predictions concerning the leading crypto asset ethereum. On November 1, Finder’s researchers published price predictions for the ethereum competitor solana, as Finder’s panelists predict the digital asset is expected to reach $235 by the year’s end and $1,178 by the end of 2025. Solana Expected to Hit $1,178 by 2025 During the course of 2021, finder.com, an investing companion application and product comparison website, has been covering a number of popular crypto assets to survey what people think about future crypto prices. Finder researchers have covered price forecasts for digital assets like bitcoin ( BTC ), ethereum ( ETH ), and litecoin ( LTC ). On November 1, the company published a survey that polled 50-expert panelists stemming from the fintech and crypto industry about the crypto asset solana (SOL). Solana has seen a significant increase in value and has recently posit

On April 1, Bitcoin.com News published an in-depth report on the Smart Bitcoin Cash (Smartbch) protocol and its compatibility with Ethereum’s EVM and Web3 API before any Smartbch projects were seen in the wild. Seven months later, Smartbch has matured a great deal and metrics indicate that between three decentralized finance (defi) protocols, there’s roughly $12.8 million total value locked on the Smartbch-based applications. Defillama Tracks Smartbch, $12.8 Million Locked Across 3 Dex Protocols It’s been an active year for decentralized finance (defi) applications as the total value locked (TVL) in defi surpassed $250 billion this week. Meanwhile, the top defi blockchains like Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, Terra, and more continue to see TVLs rise. Alongside this, smaller defi networks like Zilliqa, Algorand, and Smartbch have seen TVLs expand as well. The Bitcoin Cash-based Smartbch protocol has expanded a great deal since Bitcoin.com News first rep

PRESS RELEASE. The latest strategic investment in emerging SocialFi startup Torum from KuCoin Labs will empower the development of a SocialFi Metaverse powered by VR and Web3.0 technologies. 4th November 2021, Kuala Lumpur, Malaysia — Following the strategic investment of Huobi Ventures and 20 other prominent crypto VCs, Torum SocialFi platform is excited to announce that the project has secured a strategic investment from KuCoin Labs, the $50M incubator and research arm of KuCoin. The Torum KuCoin Ecosystem Torum is a SocialFi Metaverse ecosystem that is specially designed to connect cryptocurrency users and projects. The Web 3.0 ecosystem is built with a social media platform with over 120,000 users at its core, integrated with an interactive yield farming platform, an NFT marketplace, and lastly the world’s first PFP Metaverse identity – Torum Avatar NFT. Everything started when Torum announced the ambition to expand into the Metaverse and NFT on 27th September 2021. The S

Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding coin minting sector. President Tokaev Calls for Legislative Regulation of Cryptocurrency Mining in Kazakhstan During a recent meeting with the energy minister of Kazakhstan, Magzum Mirzagaliev, President Kassym-Jomart Tokayev criticized his department for allowing a sharp decline in fuel reserves. The head of state also emphasized the need to ensure an uninterrupted supply of electricity for both businesses and households, and to create additional generating capacities. According to a press release from Tokayev’s office, Mirzagaliev informed the president about steps taken to compensate for fuel shortages and presented a forecast for the development of Kazakhstan’s power generation industry

Chipper Cash, one of Africa’s biggest fintechs, recently concluded a Series C extension funding round in which it raised $150 million, a report by Techcrunch has revealed. New Investors Participate in Latest Round According to the report , this latest funding round — which was led by Sam Bankman-Fried’s FTX — comes barely six months after the fintech startup Chipper Cash was able to raise $100 million in the first Series C funding round. Besides FTX, other investors that participated in Chipper Cash’s latest funding round include SVB Capital, which led the first Series C. Also reinvesting were Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital. The report acknowledges that new investors participated in this series. It states, however, that the names of these investors have not yet been made public. It also reveals that following the $150 million haul, Chipper Cash has now raised over $305 million. The firm is now valued at over $2 billion. The

The Sandbox, a blockchain-based metaverse game, has scored an investment of $93 million to keep expanding its metaverse proposal. The funding round was led by Softbank’s Vision Fund 2, an investment vehicle that puts funds on early tech-based companies. Other investors in the round included Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The Sandbox Gets $93 Million in Series B Funding Round The Sandbox, one of the leading blockchain-based metaverse games, has closed its Series B funding round raising $93 million to further expand its virtual world. The funding round was led by Softbank’s Vision Fund 2, which specializes in investing in tech startups. The round also had the participation of Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The funds raised in this round will help the game to keep expanding its reach. Sebastien Borget, COO and co-founder of The Sandbox, stated: Thi

Avalanche Foundation, the organization behind the Avalanche chain, has announced the launch of Blizzard, a fund that will entice development and innovation on the Avalanche ecosystem. The Fund, which has $200 million available for its task, is composed of contributions coming from Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, among other participants. Blizzard Fund Comes to Avalanche Devs The Avalanche Foundation has announced the launch of a new fund that will help developers to keep launching innovative products on top of the Avalanche blockchain. The fund, called Blizzard, will put $200 million for grabs of devs who want to deploy innovative apps in the ecosystem. Blizzard is made of contributions of Avalanche’s key partners, including Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, R/crypto Fund, Collab+Currency, Lvna Capital, and Finality Capital Partners. According to the l

During the second week of October, the total value locked (TVL) in decentralized finance (defi) protocols crossed $200 billion, and two weeks later in November, the TVL in defi surpassed $250 billion gaining 25% in value. Meanwhile, Ethereum commands more than 67% of the $253 billion TVL in defi today, gaining 4.65% during the last seven days while Solana’s TVL increased by 5.99% this past week. Defi TVL Increases by 25% in 2 Weeks The total value locked (TVL) in defi has reached an all-time high, tapping $253.94 billion on November 3, 2021. On October 12, Bitcoin.com News reported on the defi TVL surpassing $200 billion and in two weeks the value has expanded by 25%. Value expansion is not only due to more value being added to defi protocols, but crypto assets like ethereum (ETH) , solana (SOL) , and avalanche (AVAX) have seen significant gains. Today, the TVL on the Ethereum blockchain is 67% or $171.24 billion , according to defillama.com stats. The second-largest defi blockcha

PRESS RELEASE. Palo Alto, CA – LTNM, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 LTNM ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of the LTNM Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, LTNM has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for LTNM to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help LTNM install 100,000 ATMs across all 50 US states, wher

The leading crypto industry association in Iran has slammed authorities for their passive stance regarding crypto regulation. The government’s inaction is a source of concern, the organization said, offering its assistance to regulators whom it considers not sufficiently qualified to deal with the complex issue. Blockchain Association Proposes Public-Private Partnership on Crypto Rules in Iran Tehran authorities such as the Central Bank of Iran ( CBI ) are not capable of regulating cryptocurrencies, according to the head of the Iran Blockchain Association ( IBA ). Тhe country’s main organization representing members of the crypto sector called for the establishment of an “independent counsel” to take on the job. During a press conference this week, the head of the IBA, Abbas Ashtiani, elaborated: We need a special council of representatives from state bodies and private enterprise to craft regulations for cryptocurrencies. The CBI or the Security and Exchange Organization are not