Bitcoin News and Finance: What You Need to Know

The founder and manager of several cryptocurrency funds has pleaded guilty to luring investors to his crypto investment scam. His funds consistently lost money and his scam left investors with a $5 million loss, according to the U.S. Department of Justice (DOJ). Investors Scammed Into Investing in Coin Signals’ Funds The U.S. Department of Justice (DOJ) announced Tuesday that Jeremy Spence (aka Coin Signals) has pleaded guilty in a fraudulent cryptocurrency investment scheme. Spence “solicited over $5 million from more than 170 individual investors for various cryptocurrency funds that he operated, after making false representations in connection with these funds,” the DOJ explained. Spence was charged in June. U.S. Attorney Damian Williams detailed: Jeremy Spence, a/k/a, ‘Coin Signals,’ admitted today to luring investors to his cryptocurrency investment scam by touting fictitious historical returns of up to 148%. “In reality, Spence’s investments consistently lost money, an

Bank of America’s strategist says that the metaverse is a massive opportunity where cryptocurrencies will be widely used as currencies. “I definitely believe this is a massive, massive opportunity,” he said. Bank of America’s Metaverse Prediction Bank of America’s strategist, Haim Israel, told the Insider Tuesday that the metaverse is a massive opportunity for blockchain technology. In addition, he expects it to take cryptocurrency mainstream. Israel is Bank of America’s managing director of research and a global strategist. He is also head of the global thematic research team at Bank of America Merrill Lynch. He detailed: I definitely believe this is a massive, massive opportunity … You need the right platforms … that is definitely going to be a big opportunity for this entire ecosystem. The Bank of America strategist predicted that the metaverse is where “we’re going to start using cryptocurrencies as currencies,” emphasizing that it will be where people finally start using c

Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees CBDC as Tool to ‘Fight Crypto’ Juda Agung, an assistant governor of Bank Indonesia, the country’s central bank, talked about cryptocurrency and central bank digital currency (CBDC) during his parliamentary “fit and proper test” to become the deputy governor of the central bank. He said that Bank Indonesia wants to issue a digital rupiah to be used as legal tender to fight cryptocurrency, Bloomberg reported, noting that the central bank has been looking into this issue since the beginning of the year. In Indonesia, crypto assets are traded alongside commodity futures and are regulated by the trade ministry, the assistant governor explained. However, he

While non-fungible token (NFT) assets have been extremely popular in 2021, there’s been a slew of issues tied to the ecosystem as well. A recent report indicates that roughly a dozen artists are considering taking legal action against an NFT collection called “Art Wars” because their original artwork was sold as NFTs without their consent. NFT Collection Targeted Over Using Artwork Without Permission From the Original Artists Non-fungible token (NFT) assets have seen billions of dollars in sales this year, and the term “NFT” was just recently awarded the Collins English Dictionary Word of the Year. During the last seven days, NFT markets such as Opensea have seen $587 million in sales, Atomicwax has seen over $20 million, and Rarible has seen over $3 million in weekly NFT sales. However, certain issues in the NFT industry have been introduced in recent times such as problems with permanence , censorship , insider trading , and now artists are upset about NFTs being issued without

1inch Network, the decentralized exchange (dex) aggregation project, has announced the company has raised $175 million in a Series B financing round. According to the announcement, the fresh new capital will be leveraged to scale the team, foster additional 1inch token utilities, and build new protocols. 1inch Raises $175 Million From Strategic Investors Over the last year, decentralized finance (defi) has propelled itself into the spotlight as a great number of dex platforms now provide users with the ability to trade and provide liquidity in a decentralized fashion. 1inch Network provides users with the ability to get a better exchange rate as the aggregation platform combines multiple dex exchange rates to find the cheapest alternative. Furthermore, 1inch spread out even more by supporting five different blockchains which include Ethereum ( ETH ), Binance Smart Chain (BSC), Polygon (MATIC), and the two rollup solutions offered by Optimism and Arbitrum. The announcement sent to

India’s finance minister, Nirmala Sitharaman, has revealed that the previous version of the cryptocurrency bill the government is pushing needed to be reworked. “This bill, once the Cabinet clears, will come into the House,” the finance minister told Rajya Sabha, the upper house of India’s parliament. Indian Government Pushing New Crypto Bill Finance Minister Nirmala Sitharaman answered some questions in Rajya Sabha Tuesday regarding the government’s cryptocurrency plans and the crypto bill that has been listed to be taken up in the current session of parliament. “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” seeks “to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses,” according to the legislative agenda for the winter session of Lok Sabha, the lower house of India’s parliament. Responding to questions regarding the crypto bill, Finance Minister

The second-largest cryptocurrency in terms of market capitalization, ethereum, has come awfully close to reaching the digital asset’s all-time high ($4,878) it reached 21 days ago on November 10. While bitcoin dominance has slid below the 40% zone, ethereum’s market dominance, or $557 billion market valuation, represents close to 20% of the crypto economy. Ethereum’s Price Trajectory Nears All-Time High — Ether Market Dominance Increases During the last two weeks, ethereum (ETH) has increased 10.8% in fiat value and year-to-date (YTD), ETH is up 668%. The YTD ether gains are much larger than bitcoin’s ( BTC ) 190% 12-month increase. At the time of writing, there is $31 billion in global ETH trade volume and ethereum has a market capitalization of around $557 billion. While BTC commands a 38.7% dominance rating, 19.9% belongs to ethereum, and the remainder is held by the 11,289 crypto assets in existence today. The top trading pair with ethereum is the stablecoin tether ( USDT )

PRESS RELEASE. Miami, Florida – The reality of the recent past has changed many aspects of life, from the way live events get hosted to the frequency with which we use up bottles of hand sanitizer. While not all of the changes have been improvements, the rise of digital art and NFTs have been decidedly positive. The landscape of the art world has changed forever, creating new opportunities for artists, not just monetarily but also creatively. Miami may be known for its art and party-filled festivals, but this is Miami like never seen before, thanks to the NFT presence. As such a big part of the most recent art history, the city is sure to be brimming with digital art and NFT-related events, but none like the collection of work that LGND will be presenting. Almost two years after our lives were changed, LGND debuts N ot F or T ourists, an exclusive NFT art show at Miami Art Week. Celebrating recent advancements in art and technology, pioneering an artist-centric model that speaks to

Russian President Vladimir Putin has again spoken about cryptocurrencies, noting the “high risks” associated with the virtual assets. However, the Russian leader has also acknowledged that digital currencies may have a future and it’s necessary to follow their development. Russia’s Putin Still Cautious About Crypto Russian President Vladimir Putin has made another comment regarding cryptocurrencies. Speaking at the VTB Capital Investment Forum “Russia Calling!” 2021, the head of state noted that crypto assets still carry a lot of serious risks. Quoted by the news portal Life.ru, Putin elaborated: As for cryptocurrency, it is prohibited in some countries. It is not backed by anything, the volatility is high, the risks are high. I also believe that we need to listen to those who talk about the high risks. At the same time, Russia’s strongman did not rule out that there may be a future for cryptocurrencies. He further emphasized that right now it is necessary to carefully monitor t

Bitcoin.com is integrating technology from CoinFLEX that enables users to earn interest on a wide range of cryptoassets, including a US-dollar stablecoin (flexUSD), through both passive and active strategies. The passive yield strategy is built on flexUSD, a US-dollar pegged cryptocurrency that automatically provides all holders with compounding interest payments, regardless of where they hold it. “We’re incredibly excited to be offering an interest-earning product that’s easy to use and carries minimal risk,” said Bitcoin.com CEO Dennis Jarvis. “Now our users can not only shield themselves from the downside market volatility by trading into a US dollar equivalent, they can also earn yield on those dollars that far exceeds anything available in legacy banking.” To start earning interest now, Bitcoin.com users can either swap into or “mint” flexUSD in a few clicks. Behind the scenes, yield for flexUSD is generated by fees and interest paid on short-term lend/borrow markets.

A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy. Industry Association to Address Blockchain-Related Challenges in Iran The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language business daily Financial Tribune reported. According to the publication, the IBCA is the first organization affiliated with the chamber that is dealing with challenges facing Iran’s growing blockchain ecosystem. The launch was announced by Mohammad Reza Sharafi, member of the association’s board, who expressed hope that the IBCA would be able to remove hurdles faced by businesses in the crypto space and use blockc

2TM, a Brazilian fintech unicorn that is the holding company of Mercado Bitcoin, one of the leading crypto exchanges on the continent, has closed its Series B funding round again, raising an additional $50 million. The funding round was led by U.S.-based 10T and Tribe Capital, with the participation of other new investors. 2TM Gets $50 Million More, Prepares for Expansion 2TM, one of the biggest fintech conglomerates in Latin America, has raised $50 million in an expansion of its Series B funding round. The second closing of the round was led by 10T and Tribe Capital and had participation from other parties, including Traders Club, Pipo Capital, and Endeavor. The first closure of the funding round was in July when it received $200 million from Softbank. 2TM is the holding company of Mercado Bitcoin, one of the leading crypto markets in Brazil, and it’s now seeking to expand its services to other countries on the continent. The entrance of companies like 10T, which is making its fi

BCH House Venezuela, an adoption organization, has published its first documentary on social media, where it shows the way in which Venezuelans are using cryptocurrency as a means of exchange. Roberto García, the founder of this initiative, shows us the level of adoption the BCH House initiative has reached in Barquisimeto — a city in the west of the country — and how merchants are embracing cryptocurrencies. BCH House Venezuela Showcases On-Site Adoption BCH House Venezuela, a BCH adoption organization, has released its first documentary , where it shows the advances of the organization in promoting the use of bitcoin cash as a means of exchange and also as a store of value. BCH House centers its action in Barquisimeto, a city with a population of one million inhabitants, and it shows how merchants are accepting bitcoin cash for everyday purchases. Roberto García, the founder of BCH House Venezuela, interviews some of these merchants to see what they think about cryptocurre

Some say trading is a game of luck; others view it as an adventure sport. Just like athletes love performing mind-blowing maneuvers, there’s a thrill that comes with executing the perfect trade, For those newer to the scene, trading competitions allow novice traders to learn and grow as a broker, and give more experienced participants the chance to overcome a new challenge. If you know what you’re doing, trading competitions can be a fun way to make a quick buck, but the level of risk can be hard to justify when you don’t have much to invest, especially with lackluster prizes and unpredictable markets. Phemex is no stranger to hosting trading contests, having successfully conducted Bitcoin Bonanza last month celebrating the launch of their inverse BTCUSD contracts . This time, however, the stakes are being raised. This November, Phemex, a Singapore-based crypto derivatives powerhouse, is launching the fourth edition of its ‘ Phemex Trader’s Arena ’ trading contest, encouraging team

The publicly-listed crypto-asset exchange Coinbase has announced the company has acquired the Israeli firm Unbound Security. The announcement follows Coinbase acquiring the cryptocurrency wallet BRD last week and the Unbound acquisition is aimed at the company’s “commitment to providing the safest, most secure, and most trusted venue for anyone to interact with the [crypto economy].” Coinbase Acquires Israeli Company Unbound Security Ever since Coinbase (Nasdaq: COIN ) was publicly listed, the company has acquired a number of smaller companies. Prior to the listing on Nasdaq, the company acquired the firm Bison Trails and on April 30, the crypto-focused data analytics company Skew revealed it was purchased by Coinbase. The publicly-listed crypto asset exchange further purchased Zabo in August and during the first week of November, Coinbase acquired the company Agara. During the last week, Coinbase has revealed two more acquisitions. On Tuesday, Coinbase announced the acquisition

Cryptocurrency exchange Binance has explained its dogecoin issue which resulted in withdrawal suspension and Tesla CEO Elon Musk calling the problem “shady.” The exchange says it was a “rare issue” and no one was at fault. Binance’s ‘Rare’ Dogecoin Issue, Withdrawals Resumed Binance explained its dogecoin problem Monday, stating: What began as a fairly straightforward upgrade, turned into an issue where Binance users were unable to withdraw DOGE for the last 17 days. In addition, 1,634 users were sent old transactions. “The truth is that a combination of unlikely factors led to an unforeseen issue that ultimately only affected Binance,” the company admitted. Binance explained that any platform will have the same issue if it had listed dogecoin back in 2019 at v1.14.0, had transactions stuck in the wallet, and had upgraded the wallet to v1.14.2 and then updated it to v1.14.5. The exchange added: “Unfortunately for Binance, we had inadvertently threaded the needle with all of th

A leading tech-focused retailer, Newegg, has announced its support for the meme cryptocurrency shiba inu (SHIB) with the launch of a massive billboard ad campaign. Newegg says it is set to accept shiba inu for payments in early December, which would be sooner than when AMC Theatres plans to add SHIB. Newegg Launches Massive Ad Campaign for Shiba Inu Major online retailer Newegg (Nasdaq: NEGG) announced its plan to accept the meme cryptocurrency shiba inu (SHIB) for payments Tuesday. Newegg is one of the leading tech-focused online retailers in North America, with a global reach in Europe, Asia Pacific, Latin America, and the Middle East. Its platform focuses on computer parts, PC components, laptops, gaming systems, automotive parts, and office supplies. The announcement explains: Newegg will begin accepting SHIB in early December, further cementing Newegg.com as a preferred destination for online shoppers who want to pay with cryptocurrency. SHIB will be accepted “as a form o

Grayscale Investments has launched a solana trust. The company now has nearly $54 billion in total assets under management. The new trust, which is the company’s 16th crypto investment product, will solely invest in solana (SOL). The CEO of Grayscale said that investors are increasingly “diversifying their exposure beyond digital assets like bitcoin and ethereum.” Grayscale Adds Solana to Its List of Investment Products Grayscale Investments, the world’s largest digital currency asset manager, announced Tuesday the launch of Grayscale Solana Trust. The new trust, which will “solely and passively” invest in solana (SOL), the native token of the Solana network, is Grayscale’s 16th crypto investment product. The announcement notes: The trust is now open for daily subscription by eligible individual and institutional accredited investors. The trust functions the same as Grayscale’s other single-asset investment trusts. Grayscale’s other single-asset investment products provide expo

PRESS RELEASE. Amsterdam, the Netherlands, 29th of November, 2021: TabTrader is excited to announce the launch of our own token (TTT) on Solanium and AcceleRaytor on December 1 🚀, aspiring to be the ‘ultimate trading terminal’; we are now on the way to drastically expand. DeFi is the future and TabTrader 2.0 makes sure to be a part of it! Following a recent closing of an $5.8 million equity round, TabTrader is ready to launch TTT to incentivize trading and accrue value for token holders. By participating in the IDO, users are taking active part in the project’s development, can benefit from a limited time offer, and an interesting investment opportunity given the scale of growth of the company. Tokens will be used within the platform in the future. Token holders will be able to use them for in-app purchases, as well as for transaction fees, and governance. ⚫️ White Paper Persons located in or residents of the United States, North Korea, Iran, Venezuela, any sanctioned countries

After the vertically integrated bitcoin self-mining company Griid revealed it secured a $525 million credit facility from Blockchain.com, the company revealed it plans to go public via a special purpose acquisition company (SPAC) deal. Griid will be listed on the New York Stock Exchange (NYSE) after merging with the company Adit Edtech. Griid to Go Public in a Merger With Adit Edtech Acquisition Corp Griid Infrastructure currently operates three U.S.-based mining facilities and aims to have 734 megawatts (MW) operational by 2023. On Tuesday, the company announced it entered a significant SPAC deal with the firm Adit Edtech Acquisition Corp. and after the merger, the two companies will have a combined value worth $3.3 billion. Griid started a newly formed holding company and the Griid parent company, called Griid Holdco LLC, and the holding company will be acquired by Adit Edtech. Griid explains that the firm expects a fiscal-year 2023 revenue return of around $1.6 billion after ex

Galaxy Digital Holdings Ltd. has revealed the firm is looking to raise $500 million in an exchangeable senior note offering. The investment company, founded by billionaire investor Mike Novogratz in January 2018, aims to use the funds to “accelerate growth initiatives across its business lines.” Galaxy Reveals Exchangeable Senior Note Offering The investment firm Galaxy Digital (TSX: GLXY ) aims to raise $500 million via an exchangeable senior note offering. The convertible debt will be used to continue expanding the business. Galaxy details that the private placement will close in early December 2021 and will be subject to Toronto Stock Exchange (TSX) approval. Notes will only be sold to persons who qualify as “institutional buyers,” the announcement explains. “Galaxy Digital has agreed to issue and sell $500 million aggregate principal amount of 3.00% exchangeable senior notes due 2026 to certain purchasers, including affiliates of Arca, NZ Funds, Senator Investment Group and XN,

Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions. Ahead of Election, Major Parties Support Tax Break for Crypto Investors in South Korea South Korean parliament is taking steps to suspend a planned tax on profits from digital asset investments for another year. The move has been supported by the ruling Democratic Party, despite disagreements with the government itself, as well as the leading opposition People Power Party. The amendments, which also envisage the increase of an exemption on capital gains tax for real estate sales amid rising property prices, are viewed by Korean politicians as a popular proposition ahead of the upcoming presidential election in March next year, the Korea Joongang Daily noted in a report. The Strategy and Finance Committe

Twitter now has a new chief executive officer after Jack Dorsey resigned Monday. Dorsey, who is still the CEO of Square Inc., previously said that he wants to focus on bitcoin. Fundstrat Global Advisors’ managing director and head of research explained why Dorsey’s departure from Twitter is bullish for crypto. Twitter Has New CEO: Jack Dorsey Steps Down Jack Dorsey announced Monday that he has resigned from Twitter. In his letter to the Twitter team, the former CEO explained that it was his decision to leave. Parag Agrawal, who served as Twitter’s chief technology officer, is the new CEO. Dorsey is still the CEO of Square Inc., which is currently working on several bitcoin projects . Tom Lee, managing partner and head of research at Fundstrat Global Advisors, believes that Dorsey’s resignation from Twitter is bullish for the crypto market. In an interview with CNBC Monday, he was asked what Dorsey’s exit from Twitter means for the bitcoin and cryptocurrency ecosystem. Responding

On November 27th, 2021, RChain ‘s founder Greg Meredith and blockchain scientist Atticbee were invited as guests to an AMA hosted by the Hoo Exchange . Hoo is a Dubai based innovation driven crypto exchange and has their in-house developed public chain, HSC, built for the global cryptocurrency market. In this session, Greg Meredith and Atticbee shared the latest developments in RChain and remarkable ideas about the future of the blockchain and metaverse. Built as A Coordination Technology, Instead of Payment Platform According to Greg, RChain focuses on blockchain as a coordination technology to provide a means for global coordination as conditions get more and more severe due to climate change. RChain is designed as a scalable global computer and storage mechanism, rather than a payments system. It is impossible to build a general purpose computer out of a cash register, while to build a cash register out of a general purpose computer is like a walk in the park. This is the fir