Bitcoin News and Finance: What You Need to Know

In July 2021, the non-governmental organization (NGO) Save the Children in Rwanda announced it partnered with the Cardano Foundation on a project that allows well-wishers to make donations in the form of cryptocurrencies. Save the Children Meets ADA At the time, it was revealed that Save the Children’s acceptance of ADA donations was not the first time the non-governmental organization (NGO) had accepted crypto. In fact, Save the Children says it has been accepting donations in cryptocurrency form since 2013. However, some have questioned the wisdom of accepting donations in a form of currency that they argue is too volatile. On the other hand, others want to know why a charity organization that is over a hundred years old has chosen to work with Cardano. To understand why the NGO has made these choices, Bitcoin.com News reached out via email to Ettore Rossetti, Save the Children’s Senior Advisor, Digital and Marketing Innovation. Bitcoin.com News (BCN): Cryptocurrencies are ge...

Refinable, a leading NFT marketplace, today announced the Refinable Gaming Initiative, an industry-specific program aimed at deepening its collaboration with the gaming developer community, supporting NFT communities with a community push to Play-To-Earn (P2E) initiatives within NFT gaming. Refinable’s decision reflects the incredible momentum in its marketplace as it relates to gaming NFTs. The company’s gaming partners – which include Seascape and ChainGuardians among others – have been gaining traction among Refinable marketplace’s users, as it continues to break new ground in blockchain gaming, creating compelling new experiences. Under this gaming initiative, the company has announced a series of service offering enhancements to provide greater flexibility, adaptability and monetary benefits to gamers and developers alike. Such enhancements include: Dedicated gaming marketplace Branded and verified profiles and collections Integration with existing NFT configurations Royal...

Bitcoin Cash Argentina, a nonprofit foundation destined to increase the knowledge and adoption of the cryptocurrency in the country, has achieved its second milestone by crowdfunding a new circular economy campaign using Flipstarter. This new campaign goes even further with the goal of onboarding 250 merchants in the near future. Bitcoin Cash Argentina Funds Second Flipstarter Campaign Bitcoin Cash Argentina , a nonprofit organization that seeks to increase the knowledge and adoption of bitcoin cash (BCH) in Argentina, has successfully funded its second Flipstarter campaign, receiving 250 bitcoin cash to support its operations for the next proposed set of goals Bitcoin Cash Argentina expressed its gratitude with everyone that donated to reach this milestone via its official Twitter account. Big figures in the Bitcoin Cash community as Roger Ver and Marcelo Fleischer, also know as Majamalu, an Argentinian Bitcoin Cash supporter, donated to the initiative. Now Bitcoin Cash Argen...

Regional authorities in one of the key states of the country, Carabobo, suspended the power supply of all registered miners, effectively shutting down their operations in the industrial state. While there have been no official explanations for this measure, some people with knowledge on the matter state the action was taken due to the enormous energy consumption these operations have in the zone. Mining Operations Suspended in State of Carabobo Regional authorities in Carabobo suspended the power supply of registered miners in the key industrial Venezuelan state yesterday, with no official explanation. People with knowledge of the matter allege that the mining userbase is consuming too much energy, threatening the power supply and the electric grid for the other subscribers. According to Criptonoticias, which has allegedly been in contact with people affected by these measures, the national power corporation and the Venezuelan cryptocurrency watchdog, Sunacrip, are planning to mee...

The Federal Reserve Bank of New York published the Survey of Consumer Expectations report on Monday, which shows U.S. consumers are expecting short-term inflation levels to be higher than usual. Meanwhile, the report also shows American consumers’ expectations of long-term inflation have reached the highest level since 2013. New York Fed’s Survey of Consumer Expectations Report Shows Dismal Findings While the 2,702-page, trillion-dollar infrastructure proposal is being debated, the U.S. central bank’s latest charts show Americans are very concerned about inflation. On Monday, the Fed’s New York branch published the Survey of Consumer Expectations (SCE) report, and the findings suggest worry over the loss of purchasing power is growing. It’s been noted for a few months now that short-term inflation expectations have been on the rise and the SCE report indicates this expectation has not changed. The SCE study shows that median expectations for inflation over the next 12 months have ...

The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin ( BTC ) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two days later losing 6.22% in value. The precious metals (PM) news outlet Kitco said the drop was due to an “overnight flash crash in gold and silver prices.” The report blamed the crash on “summertime doldrums” and “thin trading conditions.” Moreover, the Delta Variant strain of Covid-19 has caused alarm across markets, Kitco’s Jim Wyckoff details. Peter Brandt, a veteran futures and FX trader since 1...

Five U.S. senators have been working with the Treasury Department and have come up with a compromise crypto amendment to the $1.2 trillion infrastructure bill. “We’ve worked with the Treasury Department to clarify the underlying text and ensure that those who are not acting as brokers will not be subject to the bill’s reporting requirements.” Senators, Treasury Department Agree on Compromise Amendment for Crypto Reporting Requirements The U.S. Senate Committee on Banking, Housing, and Urban Affairs announced Monday that Senators Pat Toomey (R-Pa,) Mark Warner (D-Va.) Cynthia Lummis (R-Wyo.), Kyrsten Sinema (D-Az.), and Rob Portman (R-Oh.) have reached “an agreement on digital asset reporting requirements” in the infrastructure bill . The announcement details: We’ve worked with the Treasury Department to clarify the underlying text and ensure that those who are not acting as brokers will not be subject to the bill’s reporting requirements. In the press conference held Monday on...

The U.S. Securities and Exchange Commission (SEC) has charged Poloniex with operating an unregistered cryptocurrency exchange. Poloniex has agreed to a cease-and-desist order and to pay $10.34 million. SEC Hits Poloniex With Cease-and-Desist Order, Penalties The SEC announced Monday that “Poloniex LLC has agreed to pay more than $10 million to settle charges for operating an unregistered online digital asset exchange.” From July 2017 through November 2019, Poloniex “facilitated buying and selling of digital asset securities.” The SEC explained that the platform was available to U.S. investors but “Poloniex did not register as a national securities exchange” and was not exempt from registration. Its failure to do so was a violation of Section 5 of the Exchange Act. “Poloniex attempted to circumvent the SEC’s regulatory regime,” said Kristina Littman, chief of the SEC Enforcement Division’s Cyber Unit. “Poloniex chose increased profits over compliance with the federal securities law...

The deputy governor of India’s central bank, the Reserve Bank of India (RBI), says the bank should be able to come up with a central bank digital currency (CBDC) model by the end of this year. India May Unveil a CBDC Model by Year End The Reserve Bank of India (RBI) may unveil a model of a central bank digital currency (CBDC) by the end of the year, Deputy Governor T. Rabi Sankar said Friday at the post-Monetary Policy Committee (MPC) press conference. Without providing further details, he described: These are extremely evolving technologies and business choices that one has to make, and therefore it’s difficult to put a date, but we should be able to come up with a model in the near future, probably by the end of this year. The deputy governor continued: “We are evaluating the issue of scope, technology, distribution and validation mechanism etc.” Last month, he revealed that the central bank was working on a “phased implementation strategy” for India’s CBDC and also “examin...

The largest telecommunications provider in Europe, Deutsche Telekom AG, announced on Monday that it will be leveraging Coinbase Custody to hold the firm’s celo tokens. Celo is a mobile-first platform that connects to decentralized apps, is EVM compatible, and the network allows holders to stake the crypto asset. While keeping the celo tokens with Coinbase Custody, Deutsche Telekom will stake the tokens for its subsidiary T-Systems MMS. Deutsche Telekom Plans to Secure Celo Tokens With Coinbase Custody Deutsche Telekom AG, the owner of mobile communications brand T-Mobile, has revealed the firm is participating in the decentralized cryptocurrency economy. The major telecom company is the largest in Europe since it was introduced in 1995, after breaking away from the state-owned Deutsche Bundespost in order to become privatized. Deutsche Telekom has since managed to become a Fortune 500 company and is currently ranked in the top 100 firms. On Monday, the firm revealed it was utilizin...

To demonstrate the use case and commercial viability of Unido Enterprise Platform (EP) , it is helpful to compare with an established digital asset management platform which has built in DeFi options. Enzyme (MLN) has been selected for competitor comparison and analysis, given it launched in July 2016 and provides similar services and features as EP, albeit delivered in very different formats. Enzyme is delivered in two parts, a front end website for asset management and an Ethereum-native blockchain protocol to deploy custom liquidity pools, allowing investors to deploy their digital assets (limited to Ethereum-based tokens) in yield returning activities, without the use of investment managers, hedge funds, or other fund management companies. Given on-chain assets on the Enzyme platform are governed by a client’s single private key, the product offering is only suitable for individuals willing to take responsibility for their private key. There is no multi party signoff or compatib...

In much of Africa, many people still lack access to basic financial services for many reasons. One of the reasons is that financial institutions have set standards or thresholds that make it impossible for low-income earners to even open a bank account. Access to soft loans or other forms of financing is even more cumbersome while the punitive interest rates charged ensure that SMEs, farmers, and other groups do not even entertain the idea of borrowing banks. The fact that this has been ongoing for many years is a clear indication that the conventional banking system has failed these groups. This particular failure is another example of why an alternative financial system is needed. It also explains why more emerging fintech start-ups are now attempting to solve this. One of such start-ups is Koinwa , a crypto borrowing platform. Bitcoin.com News recently discussed solving the problem with the startup’s CEO, Disu Hakeem to understand how the application is helping financially exclu...

Arbitrum, an Ethereum Layer-2 (L2) scaling solution, announced it would launch its mainnet for users this August. The tool, which allows Ethereum users to transact with very low fees, had launched in beta version last June, with support from some key projects in the Ethereum sphere, like Uniswap, who received a community vote to integrate it. The project will also launch Arbitrum One, which will have up-to-date information about the projects using its network. Arbitrum To Launch This August Arbitrum , the Ethereum L2 rollup, has announced it will launch in mainnet beta this month, opening its service to regular users who want to issue projects using the scaling solution. Till now, Arbitrum had been operating in a sort of a sandbox, with more than 250 projects applying to build using the Optimistic rollup tech. Arbitrum will allow users to transact almost instantly with negligible fees, aiming to massify adoption. Offchain Labs, the company behind the Arbitrum project, states that...

A Brazilian federal court ordered the sale of a bitcoin stash worth $1.1 million. The sale was conducted by the largest regulated exchange in the country, Mercado Bitcoin. The Federal Police seized the bitcoin sold from Tradergroup, a company that allegedly was operating as a Ponzi scheme, under the facade of being a cryptocurrency investment company. This is the first time a Brazilian court order initiated a bitcoin sale from seized assets in the country. Brazilian Court Ordered to Sell Tradergroup’s Seized Bitcoins A federal court in Espirito Santo ordered the sale of $1.1 million worth of bitcoins that were seized by Federal police back in 2019 from Tradergroup, an alleged Ponzi scheme that was operating under the cover of a cryptocurrency investment company. The company was intervened as part of the “Madoff” operation, where 43 Federal Police officers executed five searches and seizure warrants in Espírito Santo, Mato Grosso do Sul, and Acre. The proceeds of this sale will be d...

Digital assets have seen great success as investment tools in recent years, but payment adoption is unfortunately still lagging behind. Alchemy Pay is well on its mission to change this by enabling millions of merchants to accept crypto payments and get paid in their local currency. At the same time, Alchemy Pay also opens up investments in the DeFi space to fiat investors. Pay With Crypto at the Bar or Online With Alchemy Pay Alchemy Pay is a hybrid fiat and digital currency gateway solution for businesses and investors. It already operates in 18 countries and regions around the world and has touchpoints with more than 2 million merchants through partnerships with industry giants such as Shopify, Arcadier, QFPay, Binance and more. By enabling businesses to accept crypto clients and get paid in local fiat currency Alchemy Pay solves a major problem for the crypto economy. Crypto payments adoption is vital for the long term and sustainable growth for the industry, but traditional ...

Youtube superstar and rapper KSI, also known as JJ, says he is “really into crypto.” Emphasizing that “Bitcoin is the future,” he said a lot of people do not understand that crypto “is a long-haul thing.” KSI Is ‘Really Into Crypto’ Famed rapper and popular Youtuber KSI talked about bitcoin and cryptocurrency in an interview with GQ magazine published Friday. KSI, whose real name is Olajide Olayinka Williams Olatunji, is also known as JJ. He was ranked second by The Sunday Times in its list of the top 100 U.K. influencers in 2019. He is also part of the British Youtube group known as the Sidemen. Responding to a question about the first thing he would do if he were prime minister, KSI said: I’d give everyone £100 worth of bitcoin – like a bitcoin stimulus package for all. I’m really into crypto. I think Bitcoin is the future. “It’s definitely going to be long term, but in ten years’ time, people who invested will be laughing,” he added. KSI proceeded to compare bitcoin...

U.S. Senator Elizabeth Warren, a longtime bitcoin skeptic, has shared her view of the benefits of cryptocurrencies. While noting that “The biggest upside to cryptocurrency could be expansion or democratization of access to the financial system,” she warned that the crypto industry may need federal bailout if something goes wrong, such as “a run on crypto.” Senator Elizabeth Warren Discusses the Biggest Upside and Downside to Cryptocurrencies Senator Elizabeth Warren was asked about what she thought the U.S. cryptocurrency regulation should look like in an interview with Bloomberg last week. “If people are going to be out there trading it, there needs to be a cop on the beat,” she began. “Because when there’s not a cop on the beat in any market, then it’s the small traders who get cheated, and that’s what always worries me.” The senator from Massachusetts continued: “This is about putting some basic rules in place so that anyone can trade with just some basic confidence that the big...

The founder of the world’s largest hedge fund, Bridgewater Associates, is still concerned that governments could outlaw cryptocurrencies. Nonetheless, he sees bitcoin as digital gold and owns some for diversification. Ray Dalio Worried About Government Outlawing Cryptocurrencies Bridgewater Associates founder Ray Dalio is still concerned that governments may outlaw cryptocurrency. Dalio now serves as the firm’s chairman and co-chief investment officer. Bridgewater Associates’ clients include endowments, governments, foundations, pensions, and sovereign wealth funds. Dalio voiced his concern in an interview with CNBC last week, stating that there is “a reasonable chance” that cryptocurrencies, including bitcoin, could eventually be outlawed by the federal government. He pointed to the time when President Franklin D. Roosevelt signed the Gold Reserve Act in 1934, transferring all of the country’s privately held gold titles and certificates to the U.S. Treasury as an example. The exe...

Clifford Smith Jr., better known by his stage name Method Man from the rap supergroup the Wu-Tang Clan, announced plans to launch a non-fungible token (NFT) collection called “Tical World.” The tokenized comics and Killa Beez-centric art was designed by the New York artist Alex Smetsky. Wu-Tang Member Method Man to Launch Killa Beez-Centric NFTs The popular member of the rap supergroup Wu-Tang Clan, Method Man has revealed he’s stepping into the non-fungible token (NFT) industry. Method Man is releasing an NFT comic series called the “Tical World” chronicles and “Part 1: The Origin,” which offers a slew of features from the Wu-Tang rapper. The NFT will include never-before-released music from Method Man, 3D animations, and apparel. The well known member of the rap supergroup Wu-Tang Clan, Method Man. Essentially, in terms of apparel, the NFT owner can get a VIP rewards card from the American rapper’s clothing line Tical Athletics . Last year, Method Man also launched a cannabis...

The notorious dogecoin has seen double-digit gains this past week as statistics show the meme-crypto asset has gained 19.66% during the last seven days. Out of the top ten digital currencies in terms of market capitalization, dogecoin has outshined the competition, even surpassing ethereum’s 18% weekly gains. Dogecoin’s Weekly Gains Outshine the Competition, Google Trends Data Shows DOGE Interest Dive-Bombed After May At the time of writing, both the topic dogecoin and the hashtag #dogecointothemoon have been trending on social media Sunday afternoon. As far as interest is concerned, Google Trends (GT) data shows that the search queries for the terms “dogecoin” and “doge” have dropped very low. #DogecoinToTheMoon — Vikash Rao 🇮🇳🇦🇪 (@Vikash17971677) August 8, 2021 During the first week of May, the term “dogecoin” topped the highest score on GT with a score of 100, while the term “doge” hit a 29. Today, the query score for “dogecoin” is only 6 and the search term “doge” i...