Bitcoin News and Finance: What You Need to Know

TimeCoinProtocol is a decentralized sharing economy platform for dApp developers to easily create and operate new services. It has a successful eSports dApp and the company will soon launch NFT marketplace and DeFi functionalities that offer amazing opportunities for content creators and fans. TimeCoin Raises Funds for DeFi and NFT Developments TimeCoin (TMCN) launched a Special Token Sale on February 15th, 2021. The project was initially financed by a few investors who invested around $4 million, n ow the tokens will be sold on the OTC market for the first time. The sale serves specifically to raise funds for the development and enhancement of the project, and in particular for the eSportStars dApp . The Alpha version of eSportStars was released in October, 2020, and have already acquired 10,000 users. It is available in Japanese, English, Chinese, Hindi and Portuguese, and the developers plan to expand support for more than 30 languages. The project requires further develop...

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology. Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies Reports show that the popular UK-based financial incumbent and wealth manager Natwest is refusing to serve business customers who accept cryptocurrencies. The same bank established in 1968 from a merger between Westminster Bank and National Provincial that suffered from intense scrutiny after being involved in the stock market crash of 1987. The report written by theguardian.com’s banking correspondent Kalyeena Makortoff explains that Morten Friis, a Natwest board member and head of the bank’s risk committee is ...

The bitcoin vs. gold debate between gold financier Frank Giustra and the pro-bitcoin Microstrategy CEO Michael Saylor took place this week. In what viewers call an “epic” debate and a “historic” event, Saylor packed his arguments full of facts to convince Giustra to sell his gold and invest in bitcoin. Giustra, however, attacked how Saylor and the crypto community promote the cryptocurrency, calling it “cult behavior.” The Bitcoin vs Gold Debate Between Michael Saylor and Frank Giustra The debate between gold financier Frank Giustra and Microstrategy CEO Michael Saylor on the topic of bitcoin vs. gold premiered on Wednesday. The two-hour debate was hosted by Stansberry Research and moderated by Daniela Cambone. Giustra is CEO of the Fiore Group, a private firm managing a broad portfolio of private equity investments and companies. He also founded Lionsgate Entertainment, one of the world’s largest independent film companies. Saylor is the CEO of Microstrategy, the company which ha...

Another U.S. city, besides Miami, is looking to become a bitcoin hub. The mayor of the city of Jackson TN says that his city is exploring payroll conversions in crypto in addition to bitcoin mining to add the cryptocurrency to its balance sheet. Jackson TN Looking to Become a Bitcoin Hub Mayor Scott Conger of Jackson, Tennessee, has shared on Twitter his plans to make his city a bitcoin hub. “Jackson TN is in a prime position to lead the way in cryptocurrency adoption,” he said this week. “Local government will lead the way in bitcoin adoption, and along with it, usher in a new industrial revolution with sustainable economies that will help close the wealth gap,” the mayor tweeted Wednesday. “Utilizing dollar-cost averaging in appreciating assets, like cryptocurrency, is one way we bridge the wealth gap and financially empower people.” Using BTC , LTC , and ETH hashtags, Mayor Conger tweeted Tuesday: We’re exploring payroll conversions for our employees. Even more exciting – we...

In the last few days, the popular meme-based cryptocurrency has witnessed wild movements across the board, going up and down. An anonymous woman who holds dogecoin and profited from the latest all-time high ($0.44) made a philanthropic maneuver in favor of dogs. Woman Left A “Dogecoin” Message as the Reason for the Donation According to Fox 6 , the woman donated her profits earned by holding the Shiba Inu dog-inspired coin to a dog shelter in Daytona Beach, Florida. The Halifax Humane Society administrates the facility. Barry Kukes, outreach director of the Halifax Humane Society, said that the dogecoin holder arrived last weekend at the shelter, and she just paid for all adoption fees of the dogs. He clarifies that although she didn’t donate her dogecoin (DOGE) directly, he was aware that she was making a donation related to the meme token because the woman left a message which reads “dogecoin.” Kukes commented on the donation: Basically, she had made a very wise investment in...

NFTs have added a new dimension to the crypto space, creating ripples in the market, the likes of which haven’t been seen in a long time. Legends of Crypto (LOC) is one of the most highly anticipated NFT projects that is currently in the initial phase of market penetration. Legends of Crypto hopes to become a gaming ecosystem for both the crypto gaming community and traditional gamers. It leverages DeFi and a DAO governance model, bringing gamers a unique NFT game that allows them to collect, earn, and play. A Brief Introduction to Legends of Crypto Remember the collectible and trading card games that you used to play? Legends of Crypto is like that in a lot of ways. It is an NFT project wrapped as a collectible trading card game that utilizes blockchain technology. It takes a unique approach, focusing on the crypto industry and its prominent members and influencers. The game is powered by the Ethereum and Matic blockchains. Matic powers the underlying DeFi economy of the game, ...

On April 22, published documents stemming from law firm Ontier LLP show London’s High Court is granting the law firm permission to serve legal proceedings over copyright infringement against the owner of bitcoin.org, a pseudonymous operator called “Cøbra.” The legal proceedings involve “hosting and publishing” a copy of the academic Bitcoin white paper. Copyright Infringement Issues Against Bitcoin.org’s Operator Cøbra Continue Not too long ago, Bitcoin.com News published a report concerning the self-proclaimed inventor of Bitcoin, and the Nchain chief scientist Craig Wright. In that report, it noted that Wright’s lawyers from Ontier were planning on serving legal proceedings to a number of websites that hosted the Bitcoin white paper. Wright has asserted for years that he is Satoshi Nakamoto, but yet a great majority of the crypto community does not believe him. Moreover, Wright also claims to be the “rightful owner” of the Bitcoin white paper, bitcoin.org domain and alleges tha...

The U.S. Securities and Exchange Commission (SEC) has asked the judge in the SEC v. Ripple case to block Ripple and its executives from accessing various internal records it claims are unrelated to determining whether XRP is a security. The SEC says that the “defendants do not actually seek relevant evidence, but rather seek to harass the SEC, derail the case’s focus away from its merits, and bog down the SEC with document review.” SEC Seeks to Limit Ripple’s Access to Its Records The SEC wrote a letter to Judge Sarah Netburn Wednesday attempting to block Ripple from accessing certain records. The letter followed the court order granting Ripple Labs, its CEO Brad Garlinghouse, and co-founder Christian Larsen (Defendants) access to the SEC’s records pertaining to XRP , bitcoin, and ether. The order requires the SEC to search the external emails of 19 custodians for documents related to the three cryptocurrencies but denied the defendants’ requests for certain internal SEC communi...

The U.S. House of Representatives has passed a crypto-related bill introduced by pro-bitcoin Congressman Patrick McHenry. It requires the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to establish a working group focused on digital assets. Bill to ‘Ensure Collaboration Between Regulators and Private Sector’ on Cryptocurrency The U.S. House of Representatives passed several bipartisan bills on Tuesday, including H.R. 1602, introduced by pro-bitcoin Congressman Patrick McHenry , the Republican leader of the House Financial Services Committee. H.R. 1602, entitled “Eliminate Barriers to Innovation Act of 2021,” will “establish a digital asset working group to ensure collaboration between regulators and the private sector to foster innovation,” the committee described. McHenry explained: [This bill] requires the Securities and Exchange Commission and the Commodity Futures Trading Commission to establish a working group focused on digital...

On April 21, the bitcoin mining rig manufacturer Canaan announced the firm will be supplying 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group. The announcement notes that the mining units will be dispersed among Mawson’s bitcoin mining operations, and will add over an exahash of hashrate to Mawson’s mining facilities. Canaan to Supply Mawson Infrastructure Group With 1 Exahash of Hashpower via 11,760 Delivered Machines Bitcoin mining has grown massive during the last few years and during the last six months, massive purchases have been made by corporate entities involved in digital currency mining operations. The publicly listed firm Canaan (Nasdaq: CAN) based in China has revealed a large shipment of next-generation miners will be shipped to the U.S.-listed Mawson Infrastructure Group (WIZP:OTCQB). Mawson recently rebranded and changed the company’s name from Wize Pharma to Mawson Infrastructure Group. The rebrand came after the compan...

Wallex Trust & Custody , a fintech company based in the USA and Europe that offers trust and custody services among its clients across borders notably in Europe, Asia, and Africa, has announced it has received a banking Crypto and Insurance license issued by the Comoros International Banking Authority (CIBA). This official recognition as a bank charter allows Wallex to operate and offer asset and digital asset banking and insurance services in the Union of the Comoros in particular, and most notably on a global scale arena as well. CIBA Authorizes Wallex Bank To be officially called Wallex Bank, CIBA authorizes Wallex Bank to offer banking and insurance services to non-residents of the Union of the Comoros with diverse undertakings specified within the Regulation. It states the dispensation of company services, including issuing own deposit products, providing loans and borrowing of funds, carrying out currency and exchange transactions, and holding assets and other financial i...

A major American DJ-related online music store has joined the crypto adoption frenzy by accepting bitcoin payments. Beatport is the latest firm that adopts a crypto payment gateway after signed a partnership with crypto exchange Crypto.com. Bitcoin Payment Gateway Will Be Launched in June Per Music Week , the digital music retailer will make the adoption official in June, enabling all customers to pay their subscriptions or buy tracks via bitcoin ( BTC ), processed by the Hong Kong-based crypto exchange. Robb McDaniels, CEO of Beatport, expressed its high interest in cryptocurrencies, as well as the non-fungible tokens (NFTs), considering bitcoin payment’s adoption in Beatport as a significant step in the digital music industry: When it benefits and strengthens the artist community, there is no reason to stop innovating. (…) It’s clear that, even in the midst of a pandemic, the DJ/Producer community is willing to lead the industry towards embracing new technology and innovative m...

TrustSwap — a DeFi project offering a wide range of different services — recently announced the launch of a new program that was created to provide an incentive for smaller stakers. The program, known as the FlashDrop program, will essentially reward up to 3,000 users that have staked a certain amount of SWAP tokens. In doing so, it will create opportunities for the loyal SWAP community, and it will hopefully attract new users interested in participating in the program. What Do You Need to Know About FlashDrop? The crypto industry is rich with various projects, and there are millions who may still be unaware of TrustSwap . This program will help put the project on their radar, and show them all the benefits and advantages of this emerging DeFi project. When it comes to FlashDrop, there are a few important things to note. 1) Where is it being launched? First of all, it will be conducted from YIELD App, which is another DeFi-based platform that actually launched on TrustSwap’s Laun...

On April 20, a video stemming from the Youtube channel called “1stmil.com” has the Bitcoin Cash community talking. The host of the channel sitting in a Tesla dealership parking lot explains in his recent video that if Elon Musk gets Tesla to accept bitcoin cash directly for cars, he plans to commit to purchasing 111 Tesla Model 3s. 111 Tesla Model 3s to be Purchased if Elon Musk Gets Tesla to Accept Bitcoin Cash Not too long ago, Tesla the electric car manufacturer announced accepting bitcoin ( BTC ) for payments and also mentioned that the coins wouldn’t be sold for fiat. Just recently, the host of the Youtube channel 1stmil.com claims he will buy 111 Tesla Model 3 cars . However, the host of the educational Youtube channel that teaches “people learn how to make their first million dollars,” wants Elon Musk to accept bitcoin cash (BCH) in exchange for the offer. 1stmil.com’s host is a Tesla fan and the model can be seen in a variety of his prior videos. Host of the educationa...

Guggenheim CIO Scott Minerd has warned of a “major correction” in bitcoin in the near term. Claiming that bitcoin is “very frothy,” he is forecasting a 50% decline in the price of the cryptocurrency. Scott Minerd’s Latest Warning About Bitcoin The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish prediction for bitcoin’s price. Minerd is also the chairman of Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners. Guggenheim Investments has about $270 billion in total assets under management across fixed income, equity, and alternative strategies. He said in an interview with CNBC on Wednesday that bitcoin has run too far, too fast. The executive opined: Given the massive move we’ve had in bitcoin over the short run, things are very frothy, and I think we’re going to have a major correction in bitcoin. “I think we could pull back to $20,000 to $30,000 on bitcoin, which would be ...

The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According to Maeil Kyungjae , South Korea’s government has found that some domestic investors actively send their fiat abroad to buy crypto from sellers in China. The maneuver allows these crypto traders to sell the digital assets bought from the over-the-counter Chinese sellers and other locations in South Korean exchanges to exploit the advantages of the kimchi premium. Moreover, South Korean authorities suspect that the fiat transacted with Chinese sellers could be subject to prosecution, as the domestic traders could be committing money laundering. That said, the Financial Supervisory Service (FSS) is...