Bitcoin News and Finance: What You Need to Know

Visa, the multinational payments giant, has announced it is planning to bring cryptocurrency services to traditional banking platforms in Brazil. The company also announced that it is working with several cryptocurrency companies in the country to bring cryptocurrency payment cards to the market and hinted at a possible direct integration of bitcoin in payments. Visa Gears Up for Crypto Integration in Brazil Credit card giant Visa has announced it plans to integrate cryptocurrency solutions into traditional banking platforms. Eduardo Abreu, Visa’s vice president of new business in Brazil, stated the company has plans to develop applications (APIs) to unite traditional banks with cryptographic products. In this way, it would be possible to make investments in cryptocurrencies and ETFs within banking platforms with no intermediates. Visa also announced it is working with several national companies to issue cryptocurrency cards. Among these are Zro Bank, Alterbank, and Rippio, which

The European Central Bank (ECB) says it is “starting to investigate” a digital euro by launching a two-year investigation. ECB President Christine Lagarde believes the ECB should be ready to respond to people’s demands for digital currencies and come up with a European-based solution that “does not jeopardize the whole banking system.” Lagarde Unveils ECB’s Plans to Respond to Digital Currency Demand With Digital Euro The president of the European Central Bank (ECB), Christine Lagarde, talked about central bank digital currencies (CBDCs), particularly the digital euro, in an interview last week with Klaus Schwab, founder and executive chairman of the World Economic Forum. Following the interview, Lagarde tweeted: “We at ECB believe that we should be ready and have the technology available to respond to people’s demands. That’s why we are launching a two-year investigation into a digital euro.” The ECB’s website states: We are now starting to investigate what a digital euro migh

Kim Kardashian has been singled out by the U.K.’s Financial Conduct Authority (FCA) for pumping a crypto token that could put investors at risk. With 250 million Instagram followers, the FCA chairman said that Kardashian’s cryptocurrency promotion “may have been the financial promotion with the single biggest audience reach in history.” Kim Kardashian Promotes Crypto Token That Could Put Investors at Risk, Said Regulator The chairman of the U.K.’s Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR), Charles Randell, singled out celebrity Kim Kardashian in a new warning about crypto scams. Kardashian is an American media personality, socialite, model, and businesswoman. She married the pro-bitcoin rapper Kanye West but filed for divorce earlier this year. In his speech Monday at the Cambridge International Symposium on economic crime, Randell discussed “The risks of token regulation” and the “rules which protect people from investment fraud and scams.” When d

Bitcoin will become legal tender in El Salvador on Tuesday, Sept. 7. The Salvadoran government has started buying bitcoin ahead of the law taking effect. The first 200 coins have been purchased and “a lot more” are coming, said President Nayib Bukele. El Salvador Begins Mass Buying Bitcoin Ahead of Bitcoin Becoming Legal Tender El Salvador’s President, Nayib Bukele, announced Monday: “El Salvador has just bought its first 200 coins. Our brokers will be buying a lot more as the deadline approaches.” At the current BTC price of $51,691, the 200 bitcoins are worth about $10.34 million. Bukele also tweeted, “Tomorrow, for the first time in history, all the eyes of the world will be on El Salvador.” The country’s Bitcoin Law, passed in June, will enter into force on Tuesday, Sept. 7. It will make bitcoin legal tender in the country alongside the U.S. dollar. The government recently published a video explaining what to expect. In preparation for bitcoin becoming legal tender, El Sal

PRESS RELEASE. Baanx, the fast growing B2B2C “Better than a Banking Platform” specializing in fintech services & lending, becomes the third-largest shareholder in the United States regulated Maxwell State Bank in a multi-million-dollar deal to enhance cybersecurity and banking access to communities throughout America. Maxwell State Bank is a fintech bank and VISA Principal Member established circa 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000 Maxwell has been FDIC certified since 1943 for insured deposits. Maxwell was acquired by serial fintech entrepreneur Ronald Ingram, founder of multi-billion dollar fintech programs and companies. He has ambitious plans to make this bank the most secure and future-proof bank in America by expanding their services. He plans to achieve this by working with fintech leaders in cybersecurity, cryptography, tokenization and private/public key infrastructure companies. Baanx has rapidly become a market leader in secure

The Ethereum 2.0 contract now has more than 7.4 million ether worth over $29.3 billion using today’s ether exchange rates. According to statistics, the smart contract address is the largest holder of ethereum out of all the wallets in existence. Ethereum 2.0 Contract Nears $30 Billion In the early days, the Ethereum ( ETH ) protocol was a 100% proof-of-work (PoW) blockchain but in more recent times, Ethereum is now a mix of proof-of-stake (PoS) and PoW. In time, the digital currency and smart contract network will be 100% PoS and this will be the main consensus algorithm that keeps Ethereum chugging along. On November 6, 2020, Bitcoin.com News reported on the co-creator of Ethereum, Vitalik Buterin, adding $1.4 million worth of ether into the Phase 0 smart contract. Since then, the ETH 2.0 contract has swelled significantly. In July 2021, Bitcoin.com News reported on the Ethereum 2.0 contract exceeding six million ether. At the time on July 2, the six million ether was worth $12

It’s a big day for El Salvador this Tuesday, as the country’s new legal tender law will be enforced. A great number of bitcoin supporters have plans to purchase $30 worth of bitcoin to show support for the upcoming implementation of the bitcoin tender law. The $30 increment was conceived because Salvadoran president Nayib Bukele has promised $30 worth of free bitcoin to every Salvadoran citizen with a government wallet. In Less Than 24 Hours, El Salvador Is Officially Adopting Bitcoin as Legal Tender On Wednesday, September 7, 2021, El Salvador’s bitcoin tender law will come into play. The monetary shift has the whole world focused on the small Latin American country, because people are very curious as to what will happen after bitcoin becomes legal tender. On June 25, Bitcoin.com News reported on the Salvadoran president Nayib Bukele telling citizens that anyone with a government-backed digital currency wallet will receive $30 worth of free bitcoin. Bukele said at the time: It w

One of the Big Three credit rating agencies, Moody’s Corporation, often referred to as Moody’s, has listed an employment opportunity for a “crypto-asset analyst.” Moreover, Moody’s job listing shows the company is very interested in the “wide-reaching impact of decentralized finance(defi).” Moody’s Is Hiring a Crypto Analyst, Candidate Needs to Grasp Defi Moody’s is hiring a crypto-asset analyst according to a recent job listing posted to linkedin.com’s employment listings . According to the job description, the newly hired crypto analyst will join the company’s “Blockchain C4E team” and leverage the research and development the team has put together. “You will be part of a team of individuals responsible for supporting successful project deliveries for our C4E,” the Moody’s job listing notes. “The role also includes advocating for operational and process changes to move towards a more data-driven organizational paradigm.” The analyst can work remotely if they qualify but Moody’s w

Bitcoin surpassed the $52K handle on Monday morning, as crypto-asset markets have been moving northbound and gathering more fiat value. The overall crypto economy is around $2.45 trillion and it has gained 3.5% during the last 24 hours. Meanwhile, bitcoin charts show a pending golden crossover which to many means the overall market outlook looks bullish. Bitcoin Hits Resistance Above the $52K Handle Digital asset markets are in the green today and many crypto assets have seen single to double-digit gains during the last 24 hours. At the time of writing, the entire crypto-economy of 10,000+ cryptos in existence is around $2.45 trillion on Monday. Bitcoin ( BTC ) has gained more than 3.5% today and 6.3% during the last seven days. On Monday morning (EST), BTC surpassed the $52K zone reaching $52,230 per unit. Many assume BTC ’s next few months will be bullish and a pending golden cross chart signal indicates this may be the case. Bitcoin ( BTC ) tapped a high of $52,230 on Monday,

PRESS RELEASE. Leading Crypto service comparison site – Cryptowisser deep dives into the environmental future of cryptocurrency . Despite major scrutiny from traditional media and press, cryptocurrency possibly remains more environmentally friendly than traditional banks, just no one is reporting it. Crypto community anticipates a green future. With the crypto world under constant scrutiny from a variety of sources, the last thing they need are accusations for ruining the earth. While mining bitcoin is very energy intensive, the crypto community are constantly working to improve their carbon footprint. As far as environmental revelations are concerned, the future seems to lie in the use of Proof of Stakes systems Vs Proof of Work. Although several coins have already migrated over from Proof of Work systems, many still exist. The Cryptowisser report details how Proof of Work systems and specifically their security measures require an astronomical amount of energy. The principles

A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered. Cryptocurrencies Show the Way In remarks published by Joy Online, Obele insists that cryptocurrencies have already shown how a single currency must function. The economist explained: Crypto has been able to build a level of singular markets when it comes to digital currency use and trade across borders, and this is a significant philosophy which the [African Continental Free Trade Area] originates. One of the significant issues that the AFCTA presents is an important opportunity for a singular currency in the African Market. We all know because of the different development stages of financial markets in respective member states. Obele, however, concedes that the adoption of a single digital currency

Sunacrip, the Venezuelan cryptocurrency watchdog, and the Intelligence Police (CICPC) issued a warning for the general population about cryptocurrency scams. The institutions gave a series of recommendations to avoid being scammed by cryptocurrency Ponzi schemes involving the national cryptocurrency, petro (PTR), advising users to always keep their accounts’ passwords secure. This is the government’s answer to a series of crypto scams that have been happening in the country in the last few days. Venezuelan Regulator and Intelligence Police Warn Users The cryptocurrency watchdog, Sunacrip, and the Venezuelan intelligence police have issued a warning on social media about general cyber security, advising users to take a series of basic steps to avoid being victims of crypto-related scams. The information was shared using the Instagram account of the information related crime division of the Intelligence police, where the institution stated: We inform the community to avoid being vi

A meetup in a vehicle warehouse in Houston served as an encounter point for oil producers and bitcoin miners to talk about possible on-site crypto mining opportunities last week. More than 200 investors attended the meeting to talk about an alliance, that would allow oil producers to make more efficient management of their resources and miners could take advantage of direct sources of energy that would be wasted otherwise. Oil Producers and Miners Meet to Talk Bitcoin Mining Several oil producers and bitcoin miners met last week in Texas to talk about the possibilities of on-site mining that Texas energy producers could bring for them. The meetup, that happened in a vehicle warehouse in Houston, served as a point of encounter to examine these possibilities. Oil wells that are not so big to build pipelines into their operations usually burn the natural gas pockets encountered on site. However, bitcoin ( BTC ) mining can provide a better solution. This natural gas can be used to powe

Bloomberg Intelligence senior commodity strategist Mike McGlone has affirmed his bitcoin price prediction of $100K, seeing $5K for ethereum as the path of least resistance. He expects the crypto market to thrive in a “refreshed bull market.” Cryptocurrencies Poised to Thrive, Bull Market Revived Commodity strategist Mike McGlone discussed his price predictions for bitcoin and ethereum in the September edition of Bloomberg Crypto Outlook, published Friday. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start,” he began, adding: We see ethereum on course toward $5,000 and $100,000 for bitcoin. Portfolios of some combination of gold and bonds appear increasingly naked without some bitcoin and ethereum joining the mix. The analyst explained that “diminishing supply” is boosting the price of ETH amid “increasing demand and adoption,” emphasizing that ethereum is the primary denominator for non-fungible

Cryptocurrency exchange Binance has announced that it will cease offering trading pairs and payment options in Singapore dollars to remain compliant with the country’s regulators. The announcement followed a notice issued by the Monetary Authority of Singapore (MAS) stating that Binance “may be in breach of the Payment Services Act.” Binance Complying With Singapore’s Regulations Crypto exchange Binance announced Sunday changes to its services in Singapore. The company wrote that “to remain compliant with local regulators,” it will cease offering “SGD trading pairs” and “SGD payment options” on Friday, Sept. 10. Binance will also remove its app from Singapore iOS and Google Play stores. SGD trading pairs will also be removed from Binance P2P Friday. The exchange further advised users to complete all related P2P trades and remove all related advertisements by Sept. 9 “to avoid potential trading disputes.” Moreover, Binance clarified that it is not operating any official Telegram or

The price of bitcoin has risen above the $51K zone on Sunday and traders and speculators are curious as to where the price is headed next. Historically, in September, bitcoin prices don’t fare so well and usually get better in October. For this reason, skeptics are not sure if bitcoin’s price will continue to be bullish during the ninth month of the year. So far, however, the end of the first week of September 2021 has been much better in terms of gains. Historical Bitcoin Prices in September Are Often Low and Lackluster, 2021 Has Been Different Bitcoin is doing well on Sunday, up 5.4% during the last seven days and 26.3% during the last month. So far it has jumped above the $51K region on Sunday evening (EST), hitting a high of $51,863 per unit . The first week of September is almost over, and so far, BTC is looking real good price-wise but traditionally, the leading crypto asset doesn’t do so well this month. In 2013, BTC was in the red that September after reaching a $240 all

At the time of writing, the total value locked (TVL) in decentralized finance (defi) is around $176 billion across various blockchains like Ethereum, Binance, Terra, Polygon, Solana, and Avalanche. While Ethereum commands $130 billion of the aggregate total locked, a myriad of other defi-fueled blockchains continue to see TVLs steadily rise. Total Value Locked Across All Defi Compatible Blockchains The total value locked (TVL) in defi today has risen to $176.9 billion with a change of 1.07% during the last 24 hours, according to defillama.com statistics. The TVL has been steadily nearing the $200 billion zone and today Uniswap commands 3% dominance among the variety of defi applications. The defi application Aave commands $16.04 billion and Curve captures $13.92 billion today as most of the TVL is locked into application bolstered by the Ethereum chain. Total value locked on all chains, according to defillama.com statistics on Sunday. A number of other chains, however, have bee

During the last few weeks, non-fungible token (NFT) collections like Cryptopunks, Axie Infinity, Art Blocks, Bored Ape Yacht Club (BAYC), and Meebits have been seeing massive volumes. However, a number of new NFT collections are making headway in sales and the Ethereum-based roleplaying game called “Loot (for Adventurers)” now commands the top spot. Loot, MAYC, Inertial Moment NFTs are seemingly becoming a mainstay in the world of cryptocurrencies and blockchains. Non-fungible token concepts have invaded the art scene, music, gaming industry, and many more sectors. For instance, Michael Winkelmann, known professionally as Beeple, sold his “Everydays: the First 5000 Days” NFT for over $69 million making it the fourth-most expensive artwork by a living artist. Since then it’s been all about NFT collections stemming from projects like Cryptopunks , Meebits, Weird Whales , BAYC, Mutant Ape Yacht Club (MAYC), Art Blocks, Axie Infinity , and more. Loot (for Adventurers) is the top-selli

Russian communications watchdog, Roskomnadzor, has restricted another six VPN providers. The agency says the platforms have facilitated access to information that is banned in the Russian Federation. Roskomnadzor is also whitelisting certain VPN services that operate in accordance with the law and are used by Russian companies. Roskomnadzor Bans More VPN Platforms in Russia Russia’s Federal Service for Supervision of Communications, Information Technology, and Mass Media, Roskomnadzor, has restricted access to another batch of VPN service providers. In accordance with a government decree issued in February 2020, “a decision was made to block 6 more VPN services that violate Russian law,” the watchdog explained in a notice published Friday. The affected platforms are Hola! VPN, Express VPN, Keepsolid VPN Unlimited, Nord VPN, Speedify VPN, and IPvanish VPN. The regulator insisted their services allow users to maintain “access to prohibited information and resources,” creating condi