Bitcoin News and Finance: What You Need to Know

The Swiss company TRES Group GmbH is launching an exciting and innovative program aiming at adding a solution to the Climate Change challenge. For several months, the FOSTER project has been under development, which aims to mass plant trees around the world for the benefit of increasing carbon dioxide absorption using blockchain technology. Climate the Change is an existential threat requiring participation by all to find and implement solutions to stay below 1.5 degree centigrade global warming. Nature Based Solutions are one form of alleviating CO2 emissions. Forestation and reforestation are a very effective way of creating an offset of CO2 emissions generated by fossil fuels utilization. Trees absorb CO2 and hence reducing the CO2 emissions, essentially the main reason for global warming, in the atmosphere. The world is going through “Energy Transition” gradually moving away from coal and fossil fuels to renewable energies. However, that this transition is a long journey and

Fresh off the heels of announcing a non-fungible token (NFT) organization called Blockchain Creative Labs and a blockchain-based animated series, Fox Broadcasting Company has revealed it’s invoked a $100 million fund with Bento Box Entertainment (BBE) that aims to bolster NFT content creators. Fox and Bento Box to Fuel NFT Ecosystem With a $100 Million Fund On June 15, the New York-based television network and entertainment firm Fox revealed a $100 million fund that aims to help further NFT creators and the industry. Fox and its subsidiary Bento Box Entertainment (best-known for producing the show “Bob’s Burgers”) have explained that the companies are working with Blockchain Creative Labs to further the venture. The $100 million fund news follows the introduction of Blockchain Creative Labs revealed in mid-May. BBE was founded by Scott Greenberg, Joel Kuwahara, and Mark McJimsey and was acquired by Fox in 2019. The two firms believe the new venture will help innovate and mold the

The U.S. Securities and Exchange Commission (SEC) has released its regulatory agenda which does not mention bitcoin or cryptocurrency regulation. Bitcoin, Cryptocurrencies Not on SEC’s Latest Regulatory Agenda The Office of Information and Regulatory Affairs released the Biden administration’s Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions last week. It details “the actions administrative agencies plan to issue in the near and long term,” which provides “important public notice and transparency about proposed regulatory and deregulatory actions within the Executive Branch,” the accompanying announcement explains. Included in the agenda is the U.S. Securities and Exchange Commission (SEC)’s “annual regulatory agenda,” the agency independently announced, clarifying: The report, which includes contributions related to the Securities and Exchange Commission, lists short- and long-term regulatory actions that administrative agencies plan to take. Some of the item

American venture capital investor Tim Draper still believes in a bitcoin price prediction he made in mid-April 2018, at the Draper University blockchain party. At the time, Draper said that he thinks bitcoin could reach $250K by 2022, and during an interview with CNBC’s Jade Scipioni this week, Draper reiterated his six-digit bitcoin price forecast. Tim Draper Envisions Six-Digit Bitcoin Prices by Next Year Tim Draper, the venture capitalist who has his hands in a myriad of blockchain and crypto companies, discussed his bitcoin ( BTC ) price prediction with CNBC this week. Draper is well known in the crypto community as he has founded a number of firms that work within the industry. He has also founded organizations like Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm. Draper is famous for purchasing thousands of bitcoin ( BTC ) in July 2014 from the U.S. Marshals Service auction that sold BTC stemming from the Si

Bank of England Governor Andrew Bailey says there will be an element of “tough love” in regulating cryptocurrency. “What we cannot have is a world where innovation gets a free pass to ignore the public interest. The odds of such an approach not ending well are too high,” the governor said. Bank of England’s Bailey Wants to Regulate Crypto With ‘Tough Love’ Bank of England Governor Andrew Bailey talked about cryptocurrency regulation Monday at the annual conference of financial trade body The City UK. He was quoted as saying: “We must, both domestically and working with international partners, ensure that we understand and respond to the public interest issues that arise here.” He said it will allow the Bank of England to protect financial stability while allowing innovation to happen “in a world where the public interest is well defined and protected.” Emphasizing, “What we cannot have is a world where innovation gets a free pass to ignore the public interest. The odds of such an

Fighting to stop the value of the naira from dropping further, the Central Bank of Nigeria (CBN) faces yet another problem: abuse of naira banknotes. According to the CBN’s Aladeen Badajo, the central bank is concerned with the rate at which Nigerians “mutilate, deface, squeeze and even spray and sell the naira notes.” He adds that as a result of this abuse, Nigeria is now spending more money on reprinting banknotes than it should. According to a report that quotes Badajo, an assistant director at the CBN’s Currency Operations Department, offenders now face possible jail time. Badajo elaborated: Abuse of the currency attracts a penalty of not less than six months or a fine of not less than $120 (N50,000) or both. The assistant director adds that instead of damaging the banknotes, “people [should] consider Nigeria’s currency as a symbol of national identity.” Meanwhile, Bitcoin.com News reached out to Nathanial Luz, a Nigerian “cryptocurrency thought leader” to understand

Authorities in Abkhazia, the partially recognized South Caucasus republic, have discovered and closed down eight crypto mining farms in just two weeks. Since the beginning of June, law enforcement agents have disconnected more than 300 mining devices from the grid and fined an operator. Over 300 Mining Rigs Cut Off From Electricity Supply in Abkhazia Between June 1 and June 14, police in Abkhazia have found eight facilities for cryptocurrency mining that have been operating in breach of the country’s ban on digital coin minting. Law enforcement agents have disconnected almost 350 units of mining hardware from the electricity grid. The raids have been conducted by the Ministry of Interior and local police officials in several regions of the South Caucasian republic. Three of the illegal mining farms have been located in the capital city, Sukhumi, where law enforcement agents have shut down 17 mining rigs and imposed administrative penalties on their owners. Another three facilities

After reports that Tanzanian President Samia Hassan had asked her finance chief to look into cryptocurrencies, Tunisia has become the latest African country to signal a willingness to embrace digital assets. According to remarks attributed to Ali Kooli, Tunisia’s economy minister, the North African state will soon move to decriminalize the buying of bitcoin. This comes after the recently reported arrest of a 17-year-old crypto user. According to reports , Minister Kooli says he wants to decriminalize the purchase of bitcoin in order to avoid having another Tunisian youth jailed. This by way of running afoul of the country’s unclear cryptocurrency regulation. He said in a recent TV interview : I will change the law, we cannot put a Tunisian young man in prison for buying bitcoin. The government official’s remarks follow recent Tunisian reports of the arrest of a 17-year-old crypto user by law enforcement. After the teenager’s reported arrest on suspicion of money laundering, in l

The decentralized exchange (dex) Dydx announced the organization has raised $65 million in a Series C funding round led by Paradigm. The Dydx announcement notes that the additional capital will be leveraged to “significantly improve liquidity” on the dex platform “through the volatility of the cryptocurrency markets.” Defi Exchange Dydx Raises $65 million from Strategic Investors On Tuesday, the Ethereum-based decentralized finance (defi) exchange Dydx revealed the project has raised $65 million in a Series C funding round. The round was led by Paradigm but funding also stemmed from a16z, Three Arrows Capital, Polychain Capital, and Wintermute. Liquidity providers and crypto VCs like Hashkey, Electric Capital, Delphi Digital, Sixtant, Menai Financial Group, MGNR, and Kronos Research also participated. In the announcement , Dydx also discussed the dex partner Starkware and how the two launched a Layer 2 protocol back in February for cross-margined perpetuals. This was due to a comb

Hedge funds are likely to significantly increase their crypto holdings, a global poll of chief financial officers has indicated. According to an average figure based on their forecasts, the funds will keep more than 7% of assets in cryptocurrency within the next five years. Hedge Fund CFOs Expect Sizable Increase in Crypto Investments The survey, conducted among 100 CFOs around the world, signals that the hedge funds are planning to markedly expand their exposure to cryptocurrencies by 2026. Reuters described the poll results as a major vote of confidence for digital assets, one that comes after the recent market decline and amid plans for stricter capital regulations. The executives believe their funds will hold 7.2% of all assets in cryptocurrency five years from now, or around $312 billion based on estimates for the size of the industry, fund administrator Intertrust detailed. And while this is the average forecast of the sample, 17% of the respondents shared higher expectatio

Porsche, the German carmaker, is diversifying to digital markets through the launch of Fanzone, an NFT-based trading card market. Fanzone, built by Forward31, a Porsche company builder, seeks to capitalize on classic trading card demand. At the same time, Fanzone tries to combine this classical market with the NFT craze to offer digital products. Porsche Launches NFT-Based Trading Card Platform Fanzone Porsche, the German luxury car brand, is now dabbling in NTF markets. The brand just launched an NFT-based trading card platform called Fanzone , where users will be able to purchase and trade digital assets. The startup was launched by Forward31, a digital company builder that expands Porsche into non-core markets. Fanzone lets users acquire, trade, and even game with their soccer trading cards. Each card features a different player with their unique traits and info. These cards live as digital assets on the Lukso blockchain, so anyone can extract them from the platform for safeke

The celebrity influencer Kim Kardashian posted about a project called Ethereum Max on Instagram this week by sharing an advertisement with her 228 million followers. The project Ethereum Max has also been promoted by former Boston Celtics forward Paul Pierce and professional boxer Floyd Mayweather. Kim Kardashian Follows Mayweather and Pierce by Shilling Ethereum Max on Instagram The American reality television personality, socialite, model, and businesswoman Kim Kardashian posted about a cryptocurrency project called Ethereum Max. The Ethereum Max project (emax or ETH max) is an ERC20 project built on the Ethereum blockchain and launched roughly 30 days ago. There are many questions , reports , and forum posts with people who are skeptical of the project asking whether or not emax is “legit or a scam.” The recent Instagram Ethereum Max post wasn’t the first time Kardashian posted about emax as she posted about the project last month as well. Kardashian’s Instagram post which

The chairman of Italy’s financial regulator has raised concerns over the cryptocurrency market without proper regulation. “Without proper oversight there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators,” he said. Chairman of Italy’s Securities Regulator Sees Issues With Unregulated Cryptocurrency Market The chairman of the Commissione Nazionale per le Società e la Borsa (Consob), Paolo Savona, voiced concerns regarding cryptocurrency Monday. Consob is the government authority of Italy responsible for regulating the Italian securities market. He said as he presented the watchdog’s yearly report: Without proper oversight there could be a worsening in market transparency, the basis of legality and rational choice for (market) operators. The Consob chairman noted that there are some 4,000-5,000 cryptocurrencies in circulation without any form of real regulation. He further opined, “If we add to this Consob’s recent own e

Personal finance guru and best-selling author Suze Orman has given advice on how to invest in bitcoin. She likes the cryptocurrency as a long-term investment despite regulatory uncertainty and the influence Tesla CEO Elon Musk seems to have on the bitcoin market. Suze Orman’s Bitcoin Investing Advice Suze Orman has shared her bitcoin investment strategy in an interview with CNBC Monday. The Suze Orman Financial Group founder, whose show ran on CNBC from 2002 to 2015, has written 10 consecutive New York Times bestsellers about personal finance. She was named twice on Time Magazine’s list of the 100 most influential people and was appointed as a personal finance educator for the United States Army and Army Reserve in 2016. In addition, she won two Emmy Awards and eight Gracie Awards. Emphasizing that she likes bitcoin as a long-term investment but not as a currency, the famed author of the book “The Ultimate Retirement Guide for 50+” said: You have to hold it for the long run. Sh

The price of shiba inu cryptocurrency got a boost Tuesday after Coinbase announced that the meme crypto will start trading on Coinbase Pro as early as this week. This announcement follows Coinbase adding trading for dogecoin. Coinbase Pro Adds Shiba Inu Trading Following the listing of the meme cryptocurrency dogecoin (DOGE) early this month, Coinbase announced Tuesday that the shiba inu (SHIB) crypto will start trading on Coinbase Pro this week. The ERC20 crypto shiba inu is seen by some as an alternative token to dogecoin. The Nasdaq-listed company says that starting immediately, Coinbase Pro users can transfer shiba inu tokens into their accounts. However, SHIB will not be available to New York residents. The company clarified: Trading will begin on or after 9AM Pacific Time (PT) Thursday June 17, if liquidity conditions are met. The announcement also covers chiliz (CHZ) and the keep network (KEEP). Besides dogecoin, the company recently added trading support for a number

Cryptocurrency investing has been rising in popularity among New Zealanders and a fifth of the respondents in a new survey either plan to or have already, put money into digital assets. The poll also found that young Kiwis are more likely to use micro-investing platforms than older generations. Over 20% of New Zealanders Plan to or Have Invested in Cryptocurrency Investing in cryptocurrencies and shares has been on the rise in New Zealand, with young people getting into digital investments faster than other age groups. According to a survey conducted for the Financial Services Council ( FSC ), 40% of Kiwis are currently using or intend to use micro-investing platforms, the New Zealand Herald reported. The poll found that 21%, or a fifth of 2,000 respondents, have either invested in cryptocurrencies or plan to buy digital coins in the future. That’s a 7% increase since March 2020, the report noted. Actual crypto investors have increased markedly, from 3% to 9.5%, between March las