Bitcoin News and Finance: What You Need to Know

Today, Ripple is thrilled to announce the appointment of Sendi Young as Managing Director of its European operations. In the midst of rapid growth, Sendi will oversee strategy and champion the expansion of Ripple’s global financial network technology, RippleNet, which delivers financial solutions that enable customers to easily run and scale their business. Deepening Our … Continued The post Ripple Welcomes Sendi Young as Managing Director of Europe appeared first on Ripple. http://dlvr.it/S2lq9T

Small hydropower plants have been put up for sale in China as demand for their cheap energy decreases following the government’s crackdown on crypto miners. Just as with mining rigs, their prices have been going down, leaving owners with limited options to recoup their investments. Ads for Hydropower Plants Appear on Xianyu Marketplace Advertisements for small-scale hydroelectric power plants have been placed recently on the online marketplace Xianyu, the South China Morning Post reported. The ‘second-hand’ installations come with a capacity of around 50 megawatts. The number of these offerings has increased markedly since the beginning of the government offensive against cryptocurrency miners in May. Three sellers have confirmed to the daily that the power plants went on sale because of the mining crackdown and one owner remarked that their prices have gone down. Another seller, obviously trying to convince potential buyers, pointed out: You can secretly mine cryptocurrency if y...

Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With Interest Rates Eight-Times Higher the national average The cryptocurrency exchange Coinbase announced pre-enrollment for its usd coin (USDC) savings program that allows clients to earn a 4% APY interest rate on USDC held on the platform. Coinbase joins firms like Blockfi and Crypto.com that already offer interest on USDC stablecoin holdings. Still, Coinbase highlights in its announcement on Tuesday, that 4% APY on USDC is “more than 8x the national average of high-yield savings accounts.” “Everyone wants to get the best interest rate available for the assets they hold,” Coinbase explained in a statement. “But interest rates have decreased steadily over the past few decades, making it difficult to...

PRESS RELEASE. One of the leading blockchain-based NFT & Metaverse platforms, Dvision Network, has revealed that its long-awaited “Open Beta Test” (OBT) is going live on June 30th 2021. According to Dvision Network, the Open Beta Test launch will be divided into several phases, with the following stages to be announced after the successful completion of the 1st phase. The countdown has already started on their official website: https://dvision.network/ . Open Beta Test to incorporate new NFT features The Open Beta Test is the test phase that will precede the launch of Dvision World, an ultimate metaverse that will be a major platform of the Dvision Network’s Ecosystem. Dvision Network has integrated new features into the OBT, including My Space, Character Customization, and a community Leaderboard system. During the OBT, users will be able to fully customize their characters with options like selecting preferred nicknames and desired costumes for their characters, and will fur...

FTX Trading Limited has announced the company has partnered with seven-time Super Bowl Champion Tom Brady and Brazilian model Gisele Bündchen in a long-term deal. Both celebrities will have an equity stake in FTX and receive payments in crypto, the announcement explains. The NFL star Brady will serve as the ambassador for FTX, while the activist Bündchen will fill the role of FTX’s environmental and social initiatives advisor. NFL Star Tom Brady and Brazilian Model Gisele Bündchen Join FTX FTX continues to enter the realm of mainstream sports and celebrity partnerships and in 2021, the company has made numerous partnerships and acquisitions. For example, FTX was able to purchase the naming rights to the NBA’s Miami Heat arena, and the company also just partnered with MLB . The announcement on Tuesday is considered a historic deal made by West Realm Shires Services Inc., FTX Trading Limited, and Blockfolio Inc., the companies behind FTX. According to the press release sent to Bitco...

A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and will not be able to operate in the U.K. The list of cryptocurrency companies abandoning their attempts to register with the U.K.’s financial regulator is growing, Reuters reported Monday. Under the current crypto regulation, the Financial Conduct Authority (FCA) is responsible for ensuring crypto companies’ compliance with laws on the prevention of money laundering and terrorist financing. Companies wanting to provide crypto-related services in the U.K. must register with the FCA before conducting business. An FCA spokesperson said Monday that registration data shows the number of companies that have ditched their applications jumped by 25% in less than a month. Around 64 companies have withdrawn their applications, the spokesperson said, up from 51 in early June. Only six f...

Mexico’s central bank, finance ministry, and banking regulator have jointly issued a warning about cryptocurrency. Finance Minister Arturo Herrera emphasized that cryptocurrencies are prohibited from being used in Mexico’s financial system. The central bank of Mexico, the finance secretary, and the National Banking and Securities Commission (CNBV) said in a joint statement Monday that crypto assets are not legal tender in Mexico and are not considered currencies under current laws. The regulators warned that financial institutions operating with them are subject to sanctions. Their statement reads: “The financial authorities reiterate their warnings … on the risks inherent in the use of so-called ‘virtual assets’ as a means of exchange, as a store of value or as another form of investment.” It adds: The country’s financial institutions are not authorized to carry out and offer to the public operations with virtual assets, such as bitcoin, ether, XRP and others in order to main...

All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law is unconstitutional. A number of exchanges are currently considering filing a lawsuit against the government and the financial authorities alleging the country’s crypto law is unconstitutional, Business Korea reported Monday. The revised Act on Reporting and Use of Certain Financial Transaction Information requires cryptocurrency exchanges to submit a document by Sept. 24 showing that they have a real-name account issued by a bank. However, banks in South Korea are reluctant to provide a real-name service to cryptocurrency exchanges due to money-laundering concerns. Several banks, including NH Bank and Shinhan Bank, are conducting risk assessments on the country’s largest cryptocurrency exchanges: ...

Crypto investments in India have been gaining significant traction over the past year, blockchain data indicates. Despite the ambiguous regulatory situation in the country, more than 15 million Indians have bought or sold digital currencies. Indian Crypto Investments Increase Amid Regulatory Uncertainty A growing number of Indians have put money into cryptocurrencies in the past year, which saw major coins hitting all-time market highs. Investments in crypto assets have increased from around $200 million to almost $40 billion, Bloomberg reported, quoting blockchain forensics firm Chainalysis. The massive growth has been registered despite an unclear future for decentralized digital money in the world’s second-most populous country. The spike in investment interest happens against the backdrop of a generally hostile, but also ambiguous, attitude of the Indian central bank towards crypto. Over 15 million Indians have been buying and selling cryptos, the publication added, in disreg...

Ark Invest, the investment company founded by Cathie Wood, filed for approval to offer a Bitcoin ETF yesterday. 21Shares, an investment firm with experience launching related products in Europe, will help Ark to launch the product. Ark Invest is the latest of several funds showing interest in launching a Bitcoin ETF this year. Cathie Wood’s Ark Invest Jumps on the Bitcoin ETF Bandwagon Ark Invest, the famous asset management firm, filed for approval to launch a Bitcoin ETF yesterday. The firm, founded and managed by Cathie Wood, will partner with 21Shares, a firm with experience in this field. The proposed instrument will be called ARK 21Shares Bitcoin ETF. It will track the performance and price of Bitcoin providing exposure for regulated markets. While the price of Bitcoin has stagnated over the last month, tech and crypto-oriented funds expect demand to pick up again. Cathie Wood is a big bitcoin proponent and much of Ark’s holdings are based in cryptocurrency companies like Co...

On Tuesday, Deutsche Börse Group, marketplace manager for the trading of shares and other securities, explained the company has acquired a major stake in Crypto Finance AG. The move adds to Deutsche Börse’s extension into the cryptocurrency industry in order to provide custody solutions and a “direct entry point for investments.” Deutsche Börse Group to Expand Further Into Digital　Currency Ecosystem Deutsche Börse Group’s latest announcement explains that the company wants to build a trusted and regulated cryptocurrency ecosystem in Europe. The financial institution that rakes in €2.936 billion ($3.5 billion) in revenue annually explained it has obtained a majority stake in Crypto Finance AG . The Switzerland-based Crypto Finance AG is a digital currency-focused finance organization that offers the storage, investment, and trading of crypto assets to professional clients. As a member of Deutsche Börse Group, the company will scale while also assisting Deutsche Börse’s expansion int...

The self-proclaimed inventor of Bitcoin, Craig Wright, has won a default judgment in London’s High Court in his copyright infringement case against the pseudonymous operator of bitcoin.org. According to a report, the website and its owner Cobra must remove the Bitcoin white paper from the web portal and pay $48K in legal costs as well. Self-Styled ‘Satoshi’ Wins Default Judgement Against Cobra and Bitcoin.org Craig Wright is back in the headlines again as the self-styled Satoshi Nakamoto has won a default judgment in the U.K. against the pseudonymous Cobra. Bitcoin.com News reported on Wright’s action against bitcoin.org and Cobra at the end of January. Proceedings actually started, however, on February 24 via the Intellectual Property List of the Business and Property Courts of England and Wales. The court action caused a lot of controversy amongst bitcoiners because Wright still has yet to prove he invented Bitcoin to the greater crypto community. In fact, there is so much evide...

Cryptocurrency exchange Coinbase has obtained approval from Germany’s financial regulator, Bafin, to provide cryptocurrency trading and custody services. Coinbase Germany will launch in the coming weeks. Coinbase, a Nasdaq-listed company, announced Monday that it has secured a cryptocurrency license in Germany. The company explained: “The German Federal Financial Supervisory Authority (Bafin) has awarded Coinbase Germany GmbH a license for crypto custody and trading, under the new licensing regime introduced in January 2020.” According to Coinbase, the Bafin licensing framework is the first of its kind in the European Union and Coinbase Germany is the first company to be awarded such a license. The announcement adds: Coinbase Germany will launch in the coming weeks to serve both new and existing German customers more effectively, including by localising our service and increasing our product offering. In preparation for the launch, the company is ramping up its Germa...

Fidelity, Standard Chartered Bank, and TP ICAP are collaborating to launch a cryptocurrency trading platform. It will feature a marketplace for spot crypto trading and provide “connectivity and post-trade infrastructure into a network of digital assets custodians.” TP ICAP, a leading provider of market infrastructure, announced Tuesday that it is launching a cryptocurrency trading platform in collaboration with Fidelity Digital Assets, Zodia Custody, and Flow Traders. The new platform is subject to registration with the U.K. Financial Conduct Authority (FCA). It “will feature a wholesale electronic marketplace for spot cryptoasset trading, including bitcoin and ethereum, as well as providing connectivity and post-trade infrastructure into a network of digital assets custodians,” the announcement details. TP ICAP launched its digital asset business in 2019, enabling clients to trade crypto derivatives products. Simon Forster, co-head of digital assets at TP ICAP, commented: 　C...

Have you ever dreaded pressing ‘send’ on a crypto transaction, fearing you might have entered a wrong address by mistake? Kirobo is the innovative company that developed a solution for that, in the form of an ‘undo button’ that helps protect your funds. Learn how you can use the ‘undo button’ right now and never have to worry before making a crypto transfer ever again. The Groundbreaking Crypto ‘Undo Button’ Kirobo , is a Tel Aviv-based blockchain technology firm with the goal of granting people the freedom to control their crypto. It develops secure and straightforward solutions that provide unprecedented levels of transaction security, making crypto management, custody, and trading a no-brainer. The company is famous for its crypto transfer ‘undo button’ for bitcoin and ethereum transactions that was recently expanded for UNI, Chainlink, BNB, USDT, Sushi coin , as well as its native utility token KIRO. With its technology transfers can also be password protected to ensure only t...

Widely regarded as one of the most influential hip-hop artists in history, Shawn Carter, professionally known as Jay-Z, has been dipping his toes into the ocean of non-fungible token (NFT) collectibles recently. The American rapper has also partnered with Sotheby’s to auction an NFT called “Heir to the Throne.” Further, Twitter CEO Jack Dorsey and Jay-Z recently discussed adding NFT capabilities to the music streaming service Tidal. Jay-Z Becomes a Cryptopunk Jay-Z is a well-known hip-hop artist, songwriter, record executive, businessman, and media proprietor and the mogul is now getting into non-fungible token (NFT) collectibles. Just recently, Jay-Z changed his Twitter profile picture to Cryptopunk #6095 which made people think the legendary rapper had purchased the unique Cryptopunk NFT. Market data shows the Cryptopunk #6095 was sold for 55 ether or $119K using today’s ETH exchange rates. The Cryptopunk display on Twitter is not Jay-Z’s only foray into NFTs, as the musician ...

A learning institution in Nigeria’s Kano state, the New Oxford Science Academy, recently announced it will be accepting cryptocurrency as payment for school fees. According to the school’s proprietor, Sabi’u Musa Haruna, the institution arrived at this decision after consulting parents and guardians of the students. Move Consistent With Global Trends As reported by the Dailypost, the New Oxford Science Academy owner also justified the move saying this is in line with the changing global trends. Haruna said: We have decided to accept cryptocurrency as school fees because the world today is tilting towards the system. We believe one-day digital money will gain more acceptance than paper money. The decision is aimed at easing the payment of school fees for the parents. School Ignores CBN Warnings By accepting cryptocurrencies, New Oxford Science Academy is ignoring the Central Bank of Nigeria (CBN) and other regulators’ repeated warnings against the use and acceptance of cryptocu...

While there’s been a lot of concentration on bitcoin mining crackdowns in China and Bitcoin’s recent hashrate loss on Monday, many other digital assets have seen hashrates drop significantly as well. Some of the largest digital currencies, in terms of market valuation, lost considerable dedicated hashpower over the last few days. PoW Chains Feel the Wrath of the Great ASIC and GPU Exodus Lots of crypto advocates have been focused on China and Bitcoin’s ( BTC ) hashrate losing a large percentage of hashpower. Data shows on Monday, June 28, that BTC ’s hashrate did drop considerably, but intraday statistics are not as reliable as they will be in five to seven days. Bitcoin Cash hashrate on June 28, 2021. Estimates show BTC ’s intraday hashrate drop was over 35% but this metric may be recorded differently by the end of next week. There’s been a huge focus on the BTC chain’s hashrate, but no one’s talking about a large number of other blockchains that secure their networks using p...

PRESS RELEASE. The 15M TON Yield Farming program will take place on TON Swap ( Free TON’s DEX powered by Broxus), except for the WTON- USDT pair which will be both hosted on Uniswap and TON Swap . On June 29 the first stage of farming begins. The second stage is expected to start by the end of the week. The rewards for liquidity providers will be given within two months. Free TON is a fast, secure and scalable network, which can process millions of transactions per second thanks to its unique dynamic sharding technology. It is on a mission to drive widespread adoption of decentralized solutions by millions of users. Other unique features of Free TON in addition to its infinite sharding paradigm include instant hypercube routing, proof-of-stake mechanics to validate new blocks, an ability to configure network parameters by voting, and many more. Distribution for the 1st stage Pair Platform Reward within 2 months in TON Farming speed 0.84 WTON/sec WTON- USDT TONSwap...